H.R. 8359House116th Congress (2019-2021)In Committee

PTC Elimination Act

AI-Generated Summary

Updated April 14, 2026 at 3:06 PM UTC

The PTC Elimination Act would remove the federal production tax credit that currently subsidizes electricity generated from certain renewable resources. By striking Section 45 of the Internal Revenue Code and updating related references, the bill ends the tax incentive for new renewable electricity projects. The change would take effect for electricity produced and sold after December 31, 2034, and applies to any taxpayer that would have claimed the credit.

Key Provisions

Repeals Section 45 of the Internal Revenue Code, which provides the production tax credit for renewable electricity.
Makes conforming amendments to other tax code sections (e.g., Sections 38, 45J, 45K, 48, 55, 59A) to remove or adjust references to the repealed credit.
Sets the repeal to apply only to electricity produced and sold after December 31, 2034.
Includes a congressional sense that the credit should not be extended beyond its existing termination dates.

Legislative Activity

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1 earlier action

HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

September 23, 2020

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HouseIntro Referral

Introduced in House

September 23, 2020

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

September 23, 2020

Bill Text

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Introduced in HouseIssued September 23, 2020

116th CONGRESS

2d Session

H. R. 8359

IN THE HOUSE OF REPRESENTATIVES

September 23, 2020

Mr. Marchant (for himself and Mr. Perry) 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 repeal the credit for electricity produced from certain renewable resources, and for other purposes.

Short title

This Act may be cited as the PTC Elimination Act.

Repeal of credit for electricity produced from certain renewable resources

(a)

Repeal of credit

(1)

In general

Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by striking section 45 (and by striking the item relating to such section in the table of sections for such subpart).

(2)

Conforming amendments

(A)

Section 38 of such Code is amended—

(i)

in subsection (b), by striking paragraph (8), and

(ii)

in subsection (c)(4)(B), by striking clauses (iv) and (v).

(B)

Section 45J of such Code is amended by adding at the end the following new subsection:

(g)

References to section 45

Any reference in this section to any provision of section 45 shall be treated as a reference to such provision as in effect immediately before its repeal.

(C)

Section 45K(g)(2) of such Code is amended by striking subparagraph (E).

(D)

Section 48 of such Code is amended by adding at the end the following new subsection:

(e)

References to section 45

Any reference in this section to any provision of section 45 shall be treated as a reference to such provision as in effect immediately before its repeal.

(E)

Section 55(c)(1) of such Code is amended by striking 45(e)(11)(C),.

(F)

Section 59A(b)(4) of such Code is amended by inserting and at the end of subparagraph (A) and by striking subparagraph (B).

(3)

Effective date

The amendments made by this subsection shall apply to electricity produced and sold after December 31, 2034.

(b)

Sense of Congress regarding further extension

It is the sense of the Congress that the credit under section 45 of the Internal Revenue Code of 1986 should be allowed to expire and should not be extended beyond the termination dates specified in such section as of the date of the enactment of this Act.