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H.R. 4118 (115th): Master Limited Partnerships Parity Act

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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 Oct 25, 2017.

Master Limited Partnerships Parity Act

This bill amends the Internal Revenue Code, with respect to the tax treatment of publicly traded partnerships as corporations, to expand the definition of "qualifying income" for such partnerships (known as master limited partnerships) to include income and gains from renewable and alternative energy generation projects (in addition to fossil fuel-based energy generation projects) and related infrastructure for transportation or storage, including energy derived from thermal resources, waste, renewable fuels and chemicals, energy efficient buildings, gasification, and carbon capture in secure geological storage.