1. Short title
This Act may be cited as the “Energy Tax Credit Direct Payment Act of 2020”.
Energy Tax Credit Direct Payment Act of 2020
A BILL
To amend the American Recovery and Reinvestment Tax Act of 2009 to revive the section 1603 program allowing the Secretary of the Treasury to convert certain clean energy tax credits into cash grants.
2. Section 1603 program revived
In general— Section 1603 of the American Recovery and Reinvestment Tax Act of 2009 is amended—
in subsection (a)—
in paragraph (1), by striking “2009 or 2010” and inserting “2020”, and
in paragraph (2), by striking “after 2010” and inserting “after 2020” and by striking “during 2009 or 2010” and inserting “during 2020 or 2021”,
in subsection (e)—
in paragraph (1), by striking “January 1, 2013” and inserting “January 1, 2021”,
in paragraph (2), by inserting “or in subparagraphs (5)(C) or (5)(E) of section 48(a)” after “section 45(d)” and by striking “January 1, 2014” and inserting “January 1, 2021”,
in paragraph (3), by inserting “except those described in subparagraphs (5)(C) or (5)(E) of section 48(a)” after “section 48” and by striking “January 1, 2017” and inserting “January 1, 2022”, and
in subsection (j), by striking “before October 1, 2011” and inserting “before October 1, 2022”.
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2019.