S. 1979 (107th): Energy Tax Incentives Act of 2002

Introduced:
Mar 01, 2002 (107th Congress, 2001–2002)
Sponsor:
Sen. Max Baucus [D-MT]
Status:
Died (Reported by Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on February 13, 2002, in a previous session of Congress, but was not enacted.

Progress
Reported by Committee Feb 13, 2002
Introduced Mar 01, 2002
Cosponsors
none
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to provide energy tax incentives.

Summary

No summaries available.

Text

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Last updated Mar 01, 2002.
216 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/1/2002--Introduced.
Energy Tax Incentives Act of 2002 - Amends the Internal Revenue Code to extend and modify the renewable electricity production tax credit to include credits for electricity produced from biomass, swine and bovine waste nutrients, geothermal energy, and solar energy.
Provides alternative vehicle and fuel incentives, including credits for installation of alternative fueling stations and the retail sale of alternative fuels as motor vehicle fuel, modification of the credit for qualified electric vehicles, extending the deduction for certain refueling property, and allowing the alcohol fuels credit to be transferred and to be used against motor fuels taxes.
Sets forth certain conservation and energy efficiency provisions such as credits for the construction of new energy efficient homes, the installation of energy efficient appliances, combined heat and power system properties, and energy efficiency improvements to existing homes. Establishes a three-year recovery period for depreciation of qualified energy management devices.
Establishes clean coal incentives, including credits for emission reductions, efficiency improvements in existing coal-based generation facilities, and investment in qualifying advanced clean coal technology.
Revises oil and gas provisions, including establishing a credit for the production of oil and gas from marginal wells, permitting the expensing of capital costs incurred in complying with EPA sulfur regulations, establishing an environmental tax credit, extending the marginal production income limit, and treating natural gas distribution lines as 15-year property.
Sets forth electric utility restructuring provisions.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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