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H.R. 1557: Sunshine Forever Act


The text of the bill below is as of Mar 3, 2021 (Introduced).


I

117th CONGRESS

1st Session

H. R. 1557

IN THE HOUSE OF REPRESENTATIVES

March 3, 2021

introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to extend certain credits related to solar energy.

1.

Short title

This Act may be cited as the Sunshine Forever Act.

2.

Extension of solar energy credit

(a)

In general

Section 48(a)(2)(A)(i)(II) of the Internal Revenue Code of 1986 is amended by striking January 1, 2024 and inserting January 1, 2035.

(b)

Repeal of phaseout

Section 48(a) of such Code is amended by striking paragraph (6).

(c)

Effective date

The amendments made by this section shall apply to property the construction of which begins after December 31, 2020.

3.

Extension of credits with respect to qualified solar electric property and qualified solar water heating property

(a)

In general

Section 25D(h) of the Internal Revenue Code of 1986 is amended by inserting (December 31, 2034, in the case of any qualified solar electric property expenditures and qualified solar water heating property expenditures) before the period at the end.

(b)

Phaseout not applicable

Section 25D(g) of such Code is amended by inserting in the case of any expenditure other than any qualified solar electric property expenditure or qualified solar water heating property expenditure, after For purposes of subsection (a),.

(c)

Effective date

The amendments made by this section shall apply to property placed in service after December 31, 2020.