H. R. 3394
IN THE HOUSE OF REPRESENTATIVES
November 4, 2011
Ms. Linda T. Sánchez of California (for herself, Mr. Rangel, Mr. Baca, Ms. Kaptur, Mr. Moran, Mr. Tonko, Mr. Honda, and Ms. Hirono) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to modify the energy credit for microturbine property.
This Act may be cited as the
American Microturbine Manufacturing and Clean Energy
Deployment Act of 2011.
Modification of energy credit for microturbine property
Increase in energy percentage
of section 48(a)(2)(A) of the Internal Revenue Code of 1986 is amended by
and at the end of subclause (III) and by adding at the
end the following new subclause:
qualified microturbine property, and
Modification of definition of qualified microturbine property definition
Subparagraph (A) of section 48(c)(2) of such Code is amended—
2,000 kilowatts in clause (i) and inserting
and at the end of clause (i), by striking the period at the end
of clause (ii) and inserting
, and, and by adding at the end the
following new clause:
has no single microturbine engine with a nameplate capacity of more than 500 kilowatts.
Elimination of per kilowatt limitation
Paragraph (2) of section 48(c) of such Code is amended by striking subparagraph (B), by redesignating subparagraph (C) as subparagraph (B), and by inserting after subparagraph (B) (as so redesignated) the following new subparagraph:
Credit may not exceed credit amount allocated
The amount of credit determined under this section for any taxable year with respect to any qualified microturbine property placed in service by the taxpayer shall not exceed the credit dollar amount allocated to the taxpayer under this subparagraph with respect to such property.
The aggregate credits allowed under this section with respect to qualified microturbine property shall not exceed $250,000,000.
Allocation by Secretary
The Secretary shall allocate the dollar amount described in clause (ii) among the applicants for such credit in such manner as the Secretary determines appropriate.
The amendments made by this section shall apply to periods after the date of the enactment of this Act, in taxable years ending after such date, under rules similar to the rules of section 48(m) of such Code (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).