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Title II — Extension of certain energy tax incentives

S. 329 · 113th Congress · Feb 14, 2013 · Lineage

II Extension of certain energy tax incentives

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

(a)
In general— Subsection (d) of section 45 of the Internal Revenue Code of 1986 is amended by striking “2014” each place it appears in paragraphs (1), (2), (3), (4), (6), (7), (9), and (11) and inserting “2021”.
(b)
Election of investment credit in lieu of production credit— Clause (ii) of section 48(a)(5)(C) of such Code, as amended by the American Taxpayer Relief Act of 2012, is amended by striking “2014” and inserting “2021”.
(c)
Effective date— The amendments made by this section shall take effect on the date of the enactment of this Act.

Sec. 202 Extension of energy credit

(a)
Extension—
(1)
Solar energy property—
(A)
Generation of electricity— Subclause (II) of section 48(a)(2)(A)(i) of the Internal Revenue Code of 1986 is amended by striking “January 1, 2017” and inserting “January 1, 2021”.
(B)
Illumination— Clause (ii) of section 48(a)(3)(A) of such Code is amended by striking “January 1, 2017” and inserting “January 1, 2021”.
(2)
Geothermal heat pump systems— Clause (vii) of section 48(a)(3)(A) of such Code is amended by striking “January 1, 2017” and inserting “January 1, 2021”.
(3)
Fuel cell property— Subparagraph (D) of section 48(c)(1) of such Code is amended by striking “December 31, 2016” and inserting “December 31, 2020”.
(4)
Qualified microturbine property— Subparagraph (D) of section 48(c)(2) of such Code is amended by striking “December 31, 2016” and inserting “December 31, 2020”.
(5)
Combined heat and power systems— Clause (iv) of section 48(c)(3)(A) of such Code is amended by striking “January 1, 2017” and inserting “January 1, 2021”.
(6)
Qualified small wind energy property— Subparagraph (C) of section 48(c)(4) of such Code is amended by striking “December 31, 2016” and inserting “December 31, 2020”.
(b)
Effective date— The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.

Sec. 203 Extension and modification of the advanced energy project credit

(a)
In general— Subsection (d) of section 48C of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

“(6) Additional allocations

“(A) In general—Not later than 180 days after the date of the enactment of this paragraph, the Secretary, in consultation with the Secretary of Energy, shall establish a program to consider and award certifications for qualified investments eligible for credits under this section to qualifying advanced energy project sponsors with respect to applications received in calendar years during the 5-year period beginning with the calendar year which includes the date of the enactment of this paragraph.

“(B) Limitation—The total amount of credits that may be allocated under the program described in subparagraph (A) for any calendar year shall not exceed $2,300,000,000.

“(C) Application of certain rules—Rules similar to the rules of paragraphs (2), (3), (4), and (5) shall apply for purposes of the program described in subparagraph (A).”

(b)
Effective date— The amendments made by this section shall take effect on the date of the enactment of this Act.