IN THE SENATE OF THE UNITED STATES
March 16, 2021
Mr. Hoeven (for himself and Mr. Cramer) 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 credit for production of refined coal.
Extension of refined coal production tax credit
Extension of period during which refined coal can be produced
Section 45(e)(8) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:
Extension of credit period for certain refined coal facilities
In the case of a refined coal production facility which does not produce steel industry fuel and which is placed in service before January 1, 2012, clauses (i) and (ii)(II) of subparagraph (A) shall each be applied by substituting
20-year period for
Extension of period during which refined coal facilities can be qualified
Subparagraph (B) of section 45(d)(8) of the Internal Revenue Code of 1986 is amended—
placed in service after and inserting
placed in service—
by striking the period at the end and inserting
, or; and
by adding at the end the following new clause:
after December 31, 2020, and before January 1, 2024.
The amendments made by this section shall apply to coal produced and sold after the date of the enactment of this Act, in taxable years ending after such date.