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HR 4144 IH
111th CONGRESS
1st Session
H. R. 4144
To amend the Internal Revenue Code of 1986 to modify the investment tax credit for combined heat and power system property.
IN THE HOUSE OF REPRESENTATIVES
November 19, 2009
Mr. INSLEE (for himself, Ms. BERKLEY, Ms. BALDWIN, Mr. BLUMENAUER, Mr. BARTLETT, Ms. MCCOLLUM, and Ms. SUTTON) 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 modify the investment tax credit for combined heat and power system property.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. PURPOSE.
The purposes of this Act are--
(1) to promote energy efficiency through the use of combined heat and power systems by increasing limits on the size of systems qualifying for tax credits under section 48(c) of the Internal Revenue Code of 1986, and
(2) to allow systems using waste energy from industrial processes to produce electricity or mechanical energy to qualify for the tax credits.
SEC. 2. MODIFICATIONS IN CREDIT FOR COMBINED HEAT AND POWER SYSTEM PROPERTY.
(a) Modification of Certain Capacity Limitations- Subparagraph (B) of section 48(c)(3) of the Internal Revenue Code of 1986 is amended--
(1) in clause (ii)--
(A) by striking ‘15 megawatts’ and inserting ‘25 megawatts’, and
(B) by striking ‘20,000 horsepower’ and inserting ‘34,000 horsepower’, and
(2) by striking clause (iii).
(b) Inclusion of Waste Energy Recovery and Related Technologies-
(1) IN GENERAL- Subparagraph (A) of section 48(c)(3) of such Code is amended to read as follows:
‘(A) COMBINED HEAT AND POWER SYSTEM PROPERTY- The term ‘combined heat and power system property’ means property comprising a system which is placed in service before January 1, 2017, and--
‘(i) which uses the same energy source for the simultaneous or sequential generation of electrical power, mechanical shaft power, or both, in combination with the generation of steam or other forms of useful thermal energy (including heating and cooling applications), and--
‘(I) produces at least 20 percent of its total useful energy in the form of thermal energy which is not used to produce electrical or mechanical power (or combination thereof),
‘(II) produces at least 20 percent of its total useful energy in the form of electrical or mechanical power (or combination thereof), and
‘(III) has an energy efficiency percentage exceeding 60 percent, or
‘(ii) which produces electrical or mechanical power or usable thermal energy (in the form of steam, hot water, or other heated thermal working fluid) from recovered waste energy, including systems using--
‘(I) back-pressure turbines in place of pressure-reducing valves,
‘(II) rankine, sterling, kalina, or other heat engines, or
‘(III) waste energy to heat a thermal working fluid to displace the need for combustion of a fuel.’.
(2) CONFORMING AMENDMENT- Section 48(c)(3)(D)(i) of such Code is amended by striking ‘subparagraph (A)(iii)’ and inserting ‘subparagraph (A)(i)(III)’.
(c) Effective Date- The amendments made by this section shall apply to periods after the date of the enactment of this Act, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).
U.S. Congress - Text of H.R.4144 as Introduced in House To amend the Internal Revenue Code of 1986 to modify the investment tax credit for comb...
