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H.R. 5289 (114th): Energy Tax Fairness Act of 2016

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on May 19, 2016.

Energy Tax Fairness Act of 2016

This bill amends the Internal Revenue Code to expand the tax credit for investment in energy property to include qualified high-efficiency linear generator property.

A stationary linear generator power plant is an integrated system consisting of translators, cylinders, electricity generating equipment, and associated balance of plant components which converts a fuel or waste heat into electricity for stationary applications. Qualified high-efficiency linear generator property is a stationary linear generator power plant which has: (1) a nameplate capacity of less than 2,000 kilowatts, and (2) an electricity-only generation efficiency of greater than 30%.

For high-efficiency linear generator property that is placed in service during the taxable year, the credit for the year may not exceed $1,500 for each 0.5 kilowatt of capacity of the property.