US Codex
Bill
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Title I — Repeal of energy tax subsidies

S. 2279 · 113th Congress · May 1, 2014 · Lineage

I Repeal of energy tax subsidies

Sec. 101 Repeal of credit for alcohol fuel, biodiesel, and alternative fuel mixtures

(a)
In general— Section 6426 is repealed.
(b)
Conforming amendments—
(1)
Paragraph (1) of section 4101(a) is amended by striking “or alcohol (as defined in section 6426(b)(4)(A)”.
(2)
Paragraph (2) of section 4104(a) is amended by striking “6426, or 6427(e)”.
(3)
Section 6427 is amended by striking subsection (e).
(4)
Subparagraph (E) of section 7704(d)(1) is amended—
(A)
by inserting “(as in effect on the day before the date of the enactment of the Energy Freedom and Economic Prosperity Act of 2014)” after “of section 6426”, and
(B)
by inserting “(as so in effect)” after “section 6426(b)(4)(A)”.
(5)
Paragraph (1) of section 9503(b) is amended by striking the second sentence.
(c)
Clerical amendment— The table of sections for subchapter B of chapter 65 is amended by striking the item relating to section 6426.
(d)
Effective dates—
(1)
In general— Except as provided in paragraph (2), the amendments made by this section shall apply with respect to fuel sold and used after the date of the enactment of this Act.
(2)
Liquefied hydrogen— In the case of any alternative fuel or alternative fuel mixture (as defined in subsection (d)(2) or (e)(3) of section 6426 of the Internal Revenue Code of 1986 as in effect before its repeal by this Act) involving liquefied hydrogen, the amendments made by this section shall apply with respect to fuel sold and used after September 30, 2014.

Sec. 102 Early termination of credit for qualified fuel cell motor vehicles

(a)
In general— Section 30B is repealed.
(b)
Conforming amendments—
(1)
Subparagraph (A) of section 24(b)(3) is amended by striking “, 30B”.
(2)
Paragraph (2) of section 25B(g) is amended by striking “, 30B,”.
(3)
Subsection (b) of section 38 is amended by striking paragraph (25).
(4)
Subsection (a) of section 1016 is amended by striking paragraph (35) and by redesignating paragraphs (36) and (37) as paragraphs (35) and (36), respectively.
(5)
Subsection (m) of section 6501 is amended by striking “, 30B(h)(9)”.
(c)
Clerical amendment— The table of sections for subpart B of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 30B.
(d)
Effective date— The amendments made by this section shall apply to property placed in service after December 31, 2014.

Sec. 103 Early termination of new qualified plug-in electric drive motor vehicles

(a)
In general— Section 30D is repealed.
(b)
Effective date— The amendment made by this section shall apply to vehicles placed in service after the date of the enactment of this Act.

Sec. 104 Repeal of credit for alcohol used as fuel

(a)
In general— Section 40 is repealed.
(b)
Conforming amendments—
(1)
Subsection (b) of section 38 is amended by striking paragraph (3).
(2)
Subsection (c) of section 196 is amended by striking paragraph (3) and by redesignating paragraphs (4) through (14) as paragraphs (3) through (13), respectively.
(3)
Paragraph (1) of section 4101(a) is amended by striking “, and every person producing cellulosic biofuel (as defined in section 40(b)(6)(E))”.
(4)
Paragraph (1) of section 4104(a) is amended by striking “, 40”.
(c)
Effective date— The amendments made by this section shall apply to fuel sold or used after the date of the enactment of this Act.

Sec. 105 Repeal of enhanced oil recovery credit

(a)
In general— Section 43 is repealed.
(b)
Conforming amendments—
(1)
Subsection (b) of section 38 is amended by striking paragraph (6).
(2)
Paragraph (4) of section 45Q(d) is amended by inserting “(as in effect on the day before the date of the enactment of the Energy Freedom and Economic Prosperity Act of 2014)” after “section 43(c)(2)”.
(3)
Subsection (c) of section 196, as amended by sections 105 and 106 of this Act, is amended by striking paragraph (5) and by redesignating paragraphs (6) through (12) as paragraphs (5) through (11), respectively.
(c)
Clerical amendment— The table of sections for subpart D of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 43.
(d)
Effective date— The amendments made by this section shall apply to costs paid or incurred after December 31, 2014.

Sec. 106 Repeal of credit for producing oil and gas from marginal wells

(a)
In general— Section 45I is repealed.
(b)
Conforming amendment— Subsection (b) of section 38 is amended by striking paragraph (19).
(c)
Clerical amendment— The table of sections for subpart D of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 45I.
(d)
Effective date— The amendments made by this section shall apply to production in taxable years beginning after December 31, 2014.

Sec. 107 Termination of credit for production from advanced nuclear power facilities

(a)
In general— Subparagraph (B) of section 45J(d)(1) is amended by striking “January 1, 2021” and inserting “January 1, 2015”.
(b)
Effective date— The amendments made by this section shall apply to property placed in service after December 31, 2014.

Sec. 108 Repeal of credit for carbon dioxide sequestration

(a)
In general— Section 45Q is repealed.
(b)
Effective date— The amendment made by this section shall apply to carbon dioxide captured after December 31, 2014.

Sec. 109 Termination of energy credit

(a)
In general— Section 48 is amended by adding at the end the following new subsection:

“(e) Termination—No credit shall be allowed under subsection (a) for any period after December 31, 2014.”

(b)
Effective date— The amendments made by this section shall apply to property placed in service after December 31, 2014.

Sec. 110 Repeal of qualifying advanced coal project

(a)
In general— Section 48A is repealed.
(b)
Conforming amendment— Section 46 is amended by striking paragraph (3) and by redesignating paragraphs (4), (5), and (6) as paragraphs (3), (4), and (5), respectively.
(c)
Clerical amendment— The table of sections for subpart E of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 48A.
(d)
Effective date— The amendments made by this section shall apply to property placed in service after December 31, 2014.

Sec. 111 Repeal of qualifying gasification project credit

(a)
In general— Section 48B is repealed.
(b)
Conforming amendment— Section 46, as amended by this Act, is amended by striking paragraph (3) and by redesignating paragraphs (4) and (5) as paragraphs (3) and (4), respectively.
(c)
Clerical amendment— The table of sections for subpart E of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 48B.
(d)
Effective date— The amendments made by this section shall apply to property placed in service after December 31, 2014.

Sec. 112 Repeal of qualifying advanced energy project credit

(a)
In general— Section 48C is repealed.
(b)
Conforming amendment— Section 46, as amended by this Act, is amended by striking paragraph (3) and by redesignating paragraph (4) as paragraph (3).
(c)
Clerical amendment— The table of sections for subpart E of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 48C.
(d)
Effective date— The amendments made by this section shall apply to property placed in service after December 31, 2014.