H.R. 1090 – Reading Mode

115th CONGRESS

1st Session

H. R. 1090

IN THE HOUSE OF REPRESENTATIVES

February 15, 2017

Mr. Reed (for himself, Mr. Meehan, Mr. Thompson of California, Mr. Blumenauer, Mr. Faso, Mr. Larson of Connecticut, Mr. Tonko, Mr. Pocan, Mr. Cárdenas, Mr. Rokita, Mr. Mullin, Mr. Kind, Mr. Cole, Mrs. Love, Mr. Reichert, Mr. LoBiondo, Mr. Blum, Mr. Curbelo of Florida, Mr. Young of Iowa, and Mr. Costello of Pennsylvania) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to extend the credit for residential energy efficient property and the energy credit.

Short title

This Act may be cited as the Technologies for Energy Security Act of 2017.

Extension and phaseout of residential energy efficient property

(a)

Extension

Section 25D(h) of the Internal Revenue Code of 1986 is amended by striking December 31, 2016 (December 31, 2021, in the case of any qualified solar electric property expenditures and qualified solar water heating property expenditures) and inserting December 31, 2021.

(b)

Phaseout

(1)

In general

Paragraphs (3), (4), and (5) of section 25D(a) of such Code are amended by striking 30 percent each place it appears and inserting the applicable percentage.

(2)

Conforming amendment

Section 25D(g) of such Code is amended by striking paragraphs (1) and (2) of.

(c)

Effective date

The amendments made by this section shall take effect on the date of the enactment of this Act.

Extension of energy credit

(a)

Solar energy property

Paragraph (3)(A)(ii) of section 48(a) of the Internal Revenue Code of 1986 is amended by striking periods ending before January 1, 2017 and inserting property the construction of which begins before January 1, 2022.

(b)

Qualified fuel cell property

Section 48(c)(1)(D) of such Code is amended by striking for any period after December 31, 2016 and inserting the construction of which does not begin before January 1, 2022.

(c)

Qualified microturbine property

Section 48(c)(2)(D) of such Code is amended by striking for any period after December 31, 2016 and inserting the construction of which does not begin before January 1, 2022.

(d)

Combined heat and power system property

Section 48(c)(3)(A)(iv) of such Code is amended by striking which is placed in service before January 1, 2017 and inserting the construction of which begins before January 1, 2022.

(e)

Qualified small wind energy property

Section 48(c)(4)(C) of such Code is amended by striking for any period after December 31, 2016 and inserting the construction of which does not begin before January 1, 2022.

(f)

Thermal energy property

Section 48(a)(3)(A)(vii) of such Code is amended by striking periods ending before January 1, 2017 and inserting property the construction of which begins before January 1, 2022.

(g)

Phaseout of 30 percent credit rate for fuel cell and small wind energy property

Subsection (a) of section 48 of such Code is amended by adding at the end the following new paragraph:

(7)

Phaseout for qualified fuel cell property and qualified small wind energy property

In the case of qualified fuel cell property or qualified small wind energy property, the construction of which begins before January 1, 2022, the energy percentage determined under paragraph (2) shall be equal to—

(A)

in the case of any property the construction of which begins after December 31, 2019, and before January 1, 2021, 26 percent, and

(B)

in the case of any property the construction of which begins after December 31, 2020, and before January 1, 2022, 22 per-cent.

(h)

Phaseout for Fiber-Optic Solar Energy Property

Section 48(a)(6) of such Code is amended by inserting or (3)(A)(ii) after paragraph (3)(A)(i).

(i)

Effective date

The amendments made by this section shall take effect on the date of the enactment of this Act.