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Title II — Alternative Energy

H.R. 2081 · 113th Congress · May 21, 2013 · Lineage

II Alternative Energy

Sec. 201 Phaseout of credit for electricity produced from certain renewable resources

(a)
5-Year extension— Paragraph (1) of section 45(d) of the Internal Revenue Code of 1986 is amended by striking “January 1, 2014” in paragraph (1) and inserting “January 1, 2019”.
(b)
Phaseout of credit— Subsection (e) of section 45 of such Code is amended by adding at the end the following new paragraph:

“(12) Phaseout of credit for wind energy

“(A) In general—In the case of facilities to which subsection (d)(1) applies and the construction of which begins after December 31, 2013, the number of cents taken into account under subsection (a) for taxable years ending after such date shall be only the applicable percentage of such number (determined without regard to this paragraph) for such year. If any amount determined under the preceding sentence is not a multiple of 0.01 cent, such amount shall be rounded to the nearest multiple of 0.01 cent.

“(B) Applicable percentage—For purposes of subparagraph (A)—”

(c)
Effective date— The amendments made by this section shall apply to property originally placed in service on or after January 1, 2013.

Sec. 202 Equalization of excise tax on liquefied natural gas and per energy equivalent of diesel

(a)
In general— Subparagraph (B) of section 4041(a)(2) of the Internal Revenue Code of 1986 is amended by striking the period at the end of clause (ii) and inserting “, and”, and by inserting after clause (ii) the following new clause:

“(iii) in the case of liquefied natural gas, 24.3 cents per energy equivalent of a gallon of diesel.”

(b)
Energy equivalent of a gallon of diesel and administrative provision— Paragraph (2) of section 4041(a) of such Code is amended by adding at the end the following:

“(C) Energy equivalent of a gallon of diesel—For purposes of this paragraph, the term energy equivalent of a gallon of diesel means, with respect to a liquefied natural gas fuel, the amount of such fuel having a Btu content of 128,700 (lower heating value).

“(D) Administrative provisions—For purposes of applying this title with respect to the taxes imposed by this subsection, references to any liquid subject to tax under this subsection shall be treated as including references to liquefied natural gas subject to tax under this paragraph.”

(c)
Conforming amendments— Section 4041(a)(2)(B)(ii) of such Code is amended—
(1)
by striking “liquefied natural gas,”, and
(2)
by striking “peat), and” and inserting “peat) and”.
(d)
Effective date— The amendments made by this section shall apply to any sale or use of liquefied natural gas after 14 days after the date of the enactment of this Act.

Sec. 203 Extension of alternative fuel credit

(a)
In general— Paragraph (5) of section 6426(d) of the Internal Revenue Code of 1986 (relating to alternative fuel credit) is amended by striking “December 31, 2013” and all that follows and inserting “December 31, 2014.”.
(b)
Effective date— The amendments made by this section shall apply to fuel sold or used after December 31, 2013.