The easiest way to email your members of CongressDonate Now
H.R.2812 - Heat is Power Act
To amend the Internal Revenue Code of 1986 to provide tax incentives for producing electricity from wasted heat.
Loading Bill Text
Rollover any line of text to comment and/or link to it.
SECTION 1. SHORT TITLE.
SEC. 2. ENERGY CREDIT FOR WASTED HEAT TO ELECTRICITY PROPERTY.
(a) In General- Subparagraph (A) of section 48(a)(3) of the Internal Revenue Code of 1986 is amended by striking ‘or’ at the end of clause (vi), by inserting ‘or’ at the end of clause (vii), and by adding at the end the following new clause:CommentsClose CommentsPermalink
‘(A) WASTED HEAT TO ELECTRICITY PROPERTY- The term ‘wasted heat to electricity property’ means property comprising a system which generates electricity through the recovery of a qualified wasted heat resource.CommentsClose CommentsPermalink
‘(C) EXCEPTION- The term ‘qualified wasted heat resource’ does not include any heat resource from a process whose primary purpose is the generation of electricity utilizing a fossil fuel.’.CommentsClose CommentsPermalink
(c) Temporarily 30-Percent Energy Property- Clause (i) of section 48(a)(2)(A) of such Code is amended by striking ‘and’ at the end of subclause (III) and by adding at the end the following new subclause:CommentsClose CommentsPermalink
SEC. 3. PRODUCTION CREDIT FOR ELECTRICITY PRODUCED FROM WASTED HEAT.
(a) In General- Paragraph (1) of section 45(c) of the Internal Revenue Code of 1986 is amended by striking ‘and’ at the end of subparagraph (H), by striking the period at the end of subparagraph (I) and inserting ‘, and’, and by adding at the end the following new subparagraph:CommentsClose CommentsPermalink