H.R. 5372 · 111th Congress
To amend the Internal Revenue Code of 1986 to treat any business credit attributable to wind, solar, or…
Full title
To amend the Internal Revenue Code of 1986 to treat any business credit attributable to wind, solar, or biomass electricity production and investment in solar energy property as refundable to the extent the taxpayer makes new wind, solar, and other renewable energy investments.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MeekSponsor3 cosponsors · 2 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to allow an election to treat business-related tax credits for the production of electricity from wind, solar, or biomass facilities and for investment in solar energy property as refundable in taxable years beginning in 2010 or 2011.
What it does: CRS summary · Introduced in House · May 24, 2010
Amends the Internal Revenue Code to allow an election to treat business-related tax credits for the production of electricity from wind, solar, or biomass facilities and for investment in solar energy property as refundable in taxable years beginning in 2010 or 2011. Provides that credit amounts shall not exceed the basis of renewable energy facilities placed in service in the subsequent taxable year.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to treat any business credit attributable to wind, solar, or biomass electricity production and investment in solar energy property as refundable to the extent the taxpayer makes new wind, solar, and other renewable energy investments.
Latest action (May 24, 2010): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 24, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.