To amend the Internal Revenue Code of 1986 to provide credit rate parity for all renewable resources under the electricity production credit.

Amends the Internal Revenue Code to eliminate after 2006 the reduction in the rate of the tax credit for electricity produced from open-loop biomass, small irrigation power, landfill gas, trash combustion, and hydropower facilities (thus allowing the same credit rate for all renewable resource facilities).

[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1924 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 1924

   To amend the Internal Revenue Code of 1986 to provide credit rate 
  parity for all renewable resources under the electricity production 
                                credit.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 18, 2007

    Mr. Meek of Florida (for himself and Mr. Herger) 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 provide credit rate 
  parity for all renewable resources under the electricity production 
                                credit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CREDIT RATE PARITY FOR ALL RENEWABLE RESOURCES UNDER 
              ELECTRICITY PRODUCTION CREDIT.

    (a) In General.--Section 45(b)(4)(A) of the Internal Revenue Code 
of 1986 (relating to credit rate) is amended by inserting ``and before 
2007'' after ``2003''.
    (b) Effective Date.--The amendment made by this section shall apply 
to electricity produced and sold after December 31, 2006.
                                 <all>