H.R. 1901 · 114th Congress
PTC Elimination Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
53 cosponsors · 53 R
6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to phase out and eventually eliminate the tax credit for production of electricity from renewable resources.
What it does: CRS summary · Introduced in House · Apr 21, 2015
PTC Elimination Act
This bill amends the Internal Revenue Code to phase out and eventually eliminate the tax credit for production of electricity from renewable resources. The bill repeals the inflation adjustment for current recipients of the tax credit and modifies the "beginning of construction" requirement to require that construction of an eligible project is continuous and makes significant progress. The credit is repealed in its entirety after December 31, 2025.
The bill expresses the sense of Congress that the credit should be allowed to expire and should not be extended beyond its expiration date.
The bill also reduces the corporate income tax by an applicable percentage based on increases in revenues resulting from this bill.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: PTC Elimination Act
Latest action (Apr 30, 2015): Sponsor introductory remarks on measure. (CR H2671)
Policy area: Taxation · Origin: House · Introduced: Apr 21, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.