IN THE SENATE OF THE UNITED STATES
June 7, 2012
Mr. Coons (for himself, Mr. Moran, Mr. Tester, Mr. Franken, Ms. Klobuchar, Mr. Whitehouse, and Mrs. Shaheen) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to extend the publicly traded partnership ownership structure to energy power generation projects and transportation fuels, and for other purposes.
This Act may be cited as the
Master Limited Partnerships Parity
Extension of publicly traded partnership ownership structure to energy power generation projects and transportation fuels
Subparagraph (E) of
section 7704(d)(1) of the Internal Revenue Code of 1986 is amended by striking
, industrial source carbon dioxide, and all that follows and
or of any industrial source carbon dioxide; or the generation,
storage, or transmission to the electrical grid of electric power exclusively
utilizing any resource described in section 45(c)(1) or energy property
described in section 48, or the accepting or processing of such resource or
property for such utilization; or the generation or storage of thermal power
exclusively utilizing any such resource or property; or the transportation or
storage of any fuel described in subsection (b), (c), (d), or (e) of section
6426; or the production for sale by the taxpayer, the transportation, or the
storage of any renewable fuel described in section 211(o)(1)(J) of the Clean
Air Act (42 U.S.C. 7545(o)(1)(J)),.
The amendment made by this section shall take effect on the date of the enactment of this Act, in taxable years ending after such date.