S. 919 · 114th Congress
An original bill to exclude from gross income certain clean coal power grants to non-corporate taxpayers.
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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.
R
HatchSponsorNo cosponsors.
This bill excludes from gross income, for income tax purposes, any amount received by a non-corporate taxpayer as a clean coal power grant, award, or allowance under the Energy Policy Act of 2005.
What it does: CRS summary · Reported to Senate without amendment · Apr 14, 2015
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
This bill excludes from gross income, for income tax purposes, any amount received by a non-corporate taxpayer as a clean coal power grant, award, or allowance under the Energy Policy Act of 2005. To the extent that such grant, award, or allowance is related to depreciable property, the adjusted basis of such property is reduced by the amount excluded from gross income. Each non-corporate taxpayer allowed a tax exclusion under this Act must make a payment to the federal government of 1.18% of the value of the grant, award, or allowance received.
This bill is applicable to grant amounts received in taxable years beginning after December 31, 2011.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: An original bill to exclude from gross income certain clean coal power grants to non-corporate taxpayers.
Latest action (Apr 14, 2015): Placed on Senate Legislative Calendar under General Orders. Calendar No. 52.
Policy area: Taxation · Origin: Senate · Introduced: Apr 14, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.