HR 4149 IHCommentsClose CommentsPermalink

To amend the Internal Revenue Code of 1986 to provide a renewable electricity integration credit for a utility that purchases or produces renewable power.CommentsClose CommentsPermalink

November 19, 2009CommentsClose CommentsPermalink

Ms. MARKEY of Colorado (for herself and Mr. PAULSEN) introduced the following bill; which was referred to the Committee on Ways and MeansCommentsClose CommentsPermalink

To amend the Internal Revenue Code of 1986 to provide a renewable electricity integration credit for a utility that purchases or produces renewable power.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. RENEWABLE ELECTRICITY INTEGRATION CREDIT.

(a) In General- Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:CommentsClose CommentsPermalink

‘SEC. 45R. RENEWABLE ELECTRICITY INTEGRATION CREDIT.

‘(a) General Rule- For purposes of section 38, the renewable electricity integration credit for any taxable year is an amount equal to the product of--CommentsClose CommentsPermalink





‘(1) the intermittent renewable portfolio factor of an eligible taxpayer, multiplied byCommentsClose CommentsPermalink





‘(2) the number of kilowatt hours of renewable electricity purchased or produced by such taxpayer and sold by such taxpayer to an unrelated person during the taxable year.CommentsClose CommentsPermalink





‘(b) Intermittent Renewable Portfolio Factor- The intermittent renewable portfolio factor for an eligible taxpayer shall be determined as follows:CommentsClose CommentsPermalink

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‘In the case of an eligible taxpayer whose intermittent renewable electricity percentage is: For taxable years beginning before 2012, the intermittent renewable portfolio factor is: For taxable years beginning in or after 2012, the intermittent renewable portfolio factor is: CommentsClose CommentsPermalink

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Less than 4 percent                                                                          0 cents                                                                                                                                                                        0 cents CommentsClose CommentsPermalink

At least 4 percent but less than 8 percent                                                   0.10 cents                                                                                                                                                                     0 cents CommentsClose CommentsPermalink

At least 8 percent but less than 12 percent                                                  0.20 cents                                                                                                                                                                  0.20 cents CommentsClose CommentsPermalink

At least 12 percent but less than 16 percent                                                 0.30 cents                                                                                                                                                                  0.30 cents CommentsClose CommentsPermalink

At least 16 percent but less than 20 percent                                                 0.40 cents                                                                                                                                                                  0.40 cents CommentsClose CommentsPermalink

At least 20 percent but less than 24 percent                                                 0.50 cents                                                                                                                                                                  0.50 cents CommentsClose CommentsPermalink

Equal to or greater than 24 percent                                                          0.60 cents                                                                                                                                                                  0.60 cents CommentsClose CommentsPermalink

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‘(c) Definitions- For purposes of this section--CommentsClose CommentsPermalink





‘(1) ELIGIBLE TAXPAYER- The term ‘eligible taxpayer’ means an electric utility (as defined in section 3(22) of the Federal Power Act (16 U.S.C. 796(22)).CommentsClose CommentsPermalink





‘(2) RENEWABLE ELECTRICITY- The term ‘renewable electricity’ means electricity generated by--CommentsClose CommentsPermalink





‘(A) a facility using wind to produce such electricity, andCommentsClose CommentsPermalink





‘(B) a facility using solar energy to generate such electricity.CommentsClose CommentsPermalink





‘(3) INTERMITTENT RENEWABLE ELECTRICITY PERCENTAGE- The term ‘intermittent renewable electricity percentage’ means the percentage of an electric utility’s total sales to retail load customers that is derived from renewable electricity, whether purchased or produced by the taxpayer.’.CommentsClose CommentsPermalink





(b) Credit Made Part of General Business Credit- Subsection (b) of section 38 of such Code is amended--CommentsClose CommentsPermalink





(1) by striking ‘plus’ at the end of paragraph (34),CommentsClose CommentsPermalink





(2) by striking the period at the end of paragraph (35) and inserting ‘, plus’, andCommentsClose CommentsPermalink





(3) by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(36) the renewable electricity integration credit determined under section 45R(a).’.CommentsClose CommentsPermalink





(c) Specified Credit- Subparagraph (B) of section 38(c)(4) of such Code is amended--CommentsClose CommentsPermalink





(1) by striking ‘and’ at the end of clause (vii),CommentsClose CommentsPermalink





(2) by striking the period at the end of clause (viii), and inserting ‘, and’, andCommentsClose CommentsPermalink





(3) by adding at the end the following new clause:CommentsClose CommentsPermalink





‘(ix) the credit determined under section 45R.’.CommentsClose CommentsPermalink





(d) Clerical Amendment- The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item:CommentsClose CommentsPermalink





‘Sec. 45R. Renewable electricity integration credit.’.CommentsClose CommentsPermalink





(e) Effective Date- The amendments made by this section shall apply to electricity produced or purchased after December 31, 2009.CommentsClose CommentsPermalink