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House Bill 8743
116th Congress(2019-2020)
Solar Jobs Preservation Act of 2020
Introduced
Introduced
Introduced in House on Nov 12, 2020
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Introduced in House 
Nov 12, 2020
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Introduced in House(Nov 12, 2020)
Nov 12, 2020
No Linkage Found
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 8743 (Introduced-in-House)


116th CONGRESS
2d Session
H. R. 8743


To amend the Internal Revenue Code of 1986 to make certain energy tax credits fully refundable and to delay the tax credit phase down, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

November 12, 2020

Mr. Levin of California (for himself, Mr. Schweikert, Mr. Tonko, and Mr. Cook) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to make certain energy tax credits fully refundable and to delay the tax credit phase down, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Solar Jobs Preservation Act of 2020”.

SEC. 2. Elective payment for energy property, electricity produced from certain renewable resources.

(a) In general.—Subchapter B of chapter 65 is amended by adding at the end the following new section:

“SEC. 6431. Elective payment for energy property, electricity produced from certain renewable resources.

“(a) Energy property.—In the case of a taxpayer making an election (at such time and in such manner as the Secretary may provide) under this section with respect to any portion of an applicable credit, such taxpayer shall be treated as making a payment against the tax imposed by subtitle A for the taxable year equal to the amount of such portion.

“(b) Definitions and special rules.—For purposes of this section—

“(1) APPLICABLE CREDIT.—The term ‘applicable credit’ means the energy credit under section 48.

“(2) TIMING.—The payment described in subsection (a) shall be treated as made on the later of the initial due date of the return of tax for the taxable year or the date on which such return is filed.

“(c) Exclusion from gross income.—Gross income of the taxpayer shall be determined without regard to this section.

“(d) Denial of double benefit.—Solely for purposes of section 38, in the case of a taxpayer making an election under this section, the energy credit determined under section 48 shall be reduced by the amount of the portion of such credit with respect to which the taxpayer makes such election.

“(e) Application.—This section shall apply to property the construction of which begins before January 1, 2022.”.

(b) Clerical amendment.—The table of sections for subchapter B of chapter 65 is amended by adding at the end the following new item:


“Sec. 6431. Elective payment for energy property, electricity produced from certain renewable resources.”.

(c) Effective date.—The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.

SEC. 3. Extension of energy credit.

(a) In general.—Section 48(a)(6) of the Internal Revenue Code of 1986 is amended—

(1) in subparagraph (A)—

(A) by striking “which begins before January 1, 2022” and inserting “which begins before January 1, 2023”,

(B) in clause (i), by striking “January 1, 2021” and inserting “January 1, 2022”, and

(C) in clause (ii)—

(i) by striking “December 31, 2020” and inserting “December 31, 2021”, and

(ii) by striking “January 1, 2022” and inserting “January 1, 2023”, and

(2) in subparagraph (B)—

(A) by striking “January 1, 2022” and inserting “January 1, 2023”, and

(B) by striking “January 1, 2024” and inserting “January 1, 2025”.

(b) Effective date.—The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.