Bill Sponsor
Senate Bill 628
116th Congress(2019-2020)
BTU Act of 2019
Introduced
Introduced
Introduced in Senate on Feb 28, 2019
Overview
Text
Sponsor
Introduced
Feb 28, 2019
Latest Action
Feb 28, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
628
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
Independent
Maine
Democrat
New Hampshire
Democrat
New Hampshire
Democrat
Wisconsin
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Biomass Thermal Utilization Act of 2019 or the BTU Act of 2019

This bill expands the tax credit for residential energy efficient property to include 30% of qualified biomass fuel property expenditures for property placed in service before 2024. A qualified biomass fuel property expenditure is an expenditure for property that uses the burning of biomass fuel (a plant-derived fuel available on a renewable or recurring basis) to heat a dwelling used as a residence, or to heat water for use in such dwelling, and which has a thermal efficiency rating of at least 75%.

The bill also allows (1) a 15% energy tax credit until 2024 for investment in open-loop biomass heating property, including boilers or furnaces that operate at thermal output efficiencies of at least 65% and provide thermal energy in the form of heat, hot water, or steam for space heating, air conditioning, domestic hot water, or industrial process heat; and (2) a 30% credit until 2024 for investment in such property that operates at a thermal output efficiency of at least 80%.

Text (1)
February 28, 2019
Actions (2)
02/28/2019
Read twice and referred to the Committee on Finance.
02/28/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 4:47:40 PM