Renewable Energy Assistance Act of 2007 - Amends the Internal Revenue Code to: (1) eliminate the dollar limitation on the tax credit for residential energy efficiency property expenditures and extend such credit through 2016; (2) extend through 2016 the energy tax credit for solar energy and qualified fuel cell property; (3) allow public electric utility property to qualify for the energy tax credit; (4) extend through 2015 the tax credit for nonbusiness energy property; and (5) modify energy efficient appliance tax credit amounts for appliances (e.g., dishwashers, clothes washers, refrigerators, and dehumidifiers) produced after 2007.
[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3807 Introduced in House (IH)]
110th CONGRESS
1st Session
H. R. 3807
To amend the Internal Revenue Code of 1986 to increase and extend
certain renewable energy and energy efficiency incentives.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
October 10, 2007
Ms. Giffords (for herself, Mr. Van Hollen, Mr. Ellison, Mr. Blumenauer,
Mr. Lampson, Mr. Pallone, Mr. Emanuel, Mr. Pomeroy, Mr. Chandler, Mr.
Udall of New Mexico, Mr. Altmire, Ms. Berkley, Mr. Grijalva, Mr.
Israel, Mr. Carney, Mr. Pastor, Mr. Ehlers, Mr. Smith of Washington,
Mr. McCaul of Texas, Mr. Mitchell, Mr. Braley of Iowa, Mr. McNerney,
Mr. Inslee, and Mr. Moore of Kansas) 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 increase and extend
certain renewable energy and energy efficiency incentives.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Renewable Energy Assistance Act of
2007''.
SEC. 2. INCREASE AND EXTENSION OF CREDIT FOR RESIDENTIAL ENERGY
EFFICIENT PROPERTY.
(a) Extension.--Subsection (g) of section 25D of the Internal
Revenue Code of 1986 is amended by striking ``December 31, 2008'' and
inserting ``December 31, 2016''.
(b) Repeal of Maximum Dollar Limitation.--
(1) In general.--Subsection (b) of section 25D of such Code
is amended to read as follows:
``(b) Certification of Solar Water Heating Property.--No credit
shall be allowed under this section for an item of property described
in subsection (d)(1) unless such property is certified for performance
by the non-profit Solar Rating Certification Corporation or a
comparable entity endorsed by the government of the State in which such
property is installed.''.
(2) Conforming amendments.--
(A) Subsection (e) of section 25D of such Code is
amended by striking paragraph (4) and by redesignating
paragraphs (5) through (9) as paragraphs (4) through
(8), respectively.
(B) Paragraph (1) of section 25C(e) of such Code is
amended by striking ``(8), and (9)'' and inserting
``and (8) (and paragraph (4) as in effect before its
repeal)''.
(c) Credit Allowed Against Alternative Minimum Tax.--
(1) In general.--Subsection (c) of section 25D of such Code
is amended to read as follows:
``(c) Limitation Based on Amount of Tax; Carryforward of Unused
Credit.--
``(1) Limitation based on amount of tax.--In the case of a
taxable year to which section 26(a)(2) does not apply, the
credit allowed under subsection (a) for the taxable year shall
not exceed the excess of--
``(A) the sum of the regular tax liability (as
defined in section 26(b)) plus the tax imposed by
section 55, over
``(B) the sum of the credits allowable under this
subpart (other than this section) and section 27 for
the taxable year.
``(2) Carryforward of unused credit.--
``(A) Rule for years in which all personal credits
allowed against regular and alternative minimum tax.--
In the case of a taxable year to which section 26(a)(2)
applies, if the credit allowable under subsection (a)
exceeds the limitation imposed by section 26(a)(2) for
such taxable year reduced by the sum of the credits
allowable under this subpart (other than this section),
such excess shall be carried to the succeeding taxable
year and added to the credit allowable under subsection
(a) for such succeeding taxable year.
``(B) Rule for other years.--In the case of a
taxable year to which section 26(a)(2) does not apply,
if the credit allowable under subsection (a) exceeds
the limitation imposed by paragraph (1) for such
taxable year, such excess shall be carried to the
succeeding taxable year and added to the credit
allowable under subsection (a) for such succeeding
taxable year.''.
(2) Conforming amendments.--
(A) Section 23(b)(4)(B) of such Code is amended by
inserting ``and section 25D'' after ``this section''.
(B) Section 24(b)(3)(B) of such Code is amended by
striking ``and 25B'' and inserting ``, 25B, and 25D''.
(C) Section 25B(g)(2) of such Code is amended by
striking ``section 23'' and inserting ``sections 23 and
25D''.
(D) Section 26(a)(1) of such Code is amended by
striking ``and 25B'' and inserting ``25B, and 25D''.
(d) Effective Dates.--
(1) In general.--Except as otherwise provided in this
subsection, the amendments made by this section shall apply to
expenditures made after the date of the enactment of this Act.
(2) Extension.--The amendment made by subsection (a) shall
apply to property placed in service after December 31, 2008.
(3) Allowance against alternative minimum tax.--
(A) In general.--The amendments made by subsection
(c) shall apply to taxable years beginning after the
date of the enactment of this Act.
(B) Application of egtrra sunset.--The amendments
made by subparagraphs (A) and (B) of subsection (c)(2)
shall be subject to title IX of the Economic Growth and
Tax Relief Reconciliation Act of 2001 in the same
manner as the provisions of such Act to which such
amendments relate.
SEC. 3. EXTENSION AND MODIFICATION OF ENERGY CREDIT.
(a) Extension of 30 Percent Credit for Solar Energy.--Subclause
(II) of section 48(a)(2)(A)(i) of the Internal Revenue Code of 1986 is
amended by striking ``January 1, 2009'' and inserting ``January 1,
2017''.
(b) Extension for Qualified Fuel Cells.--Subparagraph (E) of
section 48(c)(1) of such Code is amended by striking ``December 31,
2008'' and inserting ``December 31, 2016''.
(c) Public Electric Utility Property Taken Into Account.--
(1) In general.--Paragraph (3) of section 48(a) of such
Code is amended by striking the second sentence thereof.
(2) Conforming amendment.--Paragraph (1) of section 48(c)
of such Code, after amendment under subsection (b), is amended
by striking subparagraph (D) and redesignating subparagraph (E)
as subparagraph (D).
(3) Effective date.--The amendments made by this subsection
shall apply to periods after June 20, 2007, in taxable years
ending after such date, under rules similar to the rules of
section 48(m) of the Internal Revenue Code of 1986 (as in
effect on the day before the date of the enactment of the
Revenue Reconciliation Act of 1990).
SEC. 4. EXTENSION OF CREDIT FOR NONBUSINESS ENERGY PROPERTY.
Subsection (g) of section 25C of the Internal Revenue Code of 1986
is amended by striking ``December 31, 2007'' and inserting ``December
31, 2015''.
SEC. 5. MODIFICATIONS OF ENERGY EFFICIENT APPLIANCE CREDIT FOR
APPLIANCES PRODUCED AFTER 2007.
(a) In General.--Subsection (b) of section 45M of the Internal
Revenue Code of 1986 is amended to read as follows:
``(b) Applicable Amount.--For purposes of subsection (a)--
``(1) Dishwashers.--The applicable amount is--
``(A) $45 in the case of a dishwasher which is
manufactured in calendar year 2008 or 2009 and which
uses no more than 324 kilowatt hours per year and 5.8
gallons per cycle, and
``(B) $75 in the case of a dishwasher which is
manufactured in calendar year 2008, 2009, or 2010 and
which uses no more than 307 kilowatt hours per year and
5.0 gallons per cycle (5.5 gallons per cycle for
dishwashers designed for greater than 12 place
settings).
``(2) Clothes washers.--The applicable amount is--
``(A) $75 in the case of a residential top-loading
clothes washer manufactured in calendar year 2008 which
meets or exceeds a 1.72 modified energy factor and does
not exceed a 8.0 water consumption factor,
``(B) $125 in the case of a residential top-loading
clothes washer manufactured in calendar year 2008 or
2009 which meets or exceeds a 1.8 modified energy
factor and does not exceed a 7.5 water consumption
factor,
``(C) $150 in the case of a residential or
commercial clothes washer manufactured in calendar year
2008, 2009 or 2010 which meets or exceeds 2.0 modified
energy factor and does not exceed a 6.0 water
consumption factor, and
``(D) $250 in the case of a residential or
commercial clothes washer manufactured in calendar year
2008, 2009, or 2010 which meets or exceeds 2.2 modified
energy factor and does not exceed a 4.5 water
consumption factor.
``(3) Refrigerators.--The applicable amount is--
``(A) $50 in the case of a refrigerator which is
manufactured in calendar year 2008, and consumes at
least 20 percent but not more than 22.9 percent less
kilowatt hours per year than the 2001 energy
conservation standards,
``(B) $75 in the case of a refrigerator which is
manufactured in calendar year 2008 or 2009, and
consumes at least 23 percent but no more than 24.9
percent less kilowatt hours per year than the 2001
energy conservation standards,
``(C) $100 in the case of a refrigerator which is
manufactured in calendar year 2008, 2009 or 2010, and
consumes at least 25 percent but not more than 29.9
percent less kilowatt hours per year than the 2001
energy conservation standards, and
``(D) $200 in the case of a refrigerator
manufactured in calendar year 2008, 2009 or 2010 and
which consumes at least 30 percent less energy than the
2001 energy conservation standards.
``(4) Dehumidifiers.--The applicable amount is--
``(A) $15 in the case of a dehumidifier
manufactured in calendar year 2008 that has a capacity
less than or equal to 45 pints per day and is 7.5
percent more efficient than the applicable Department
of Energy energy conservation standard effective
October 2012, and
``(B) $25 in the case of a dehumidifier
manufactured in calendar year 2008 that has a capacity
greater than 45 pints per day and is 7.5 percent more
efficient than the applicable Department of Energy
energy conservation standard effective October 2012.''.
(b) Eligible Production.--
(1) Similar treatment for all appliances.--Subsection (c)
of section 45M of such Code is amended--
(A) by striking paragraph (2),
(B) by striking ``(1) In general'' and all that
follows through ``the eligible'' and inserting ``The
eligible'', and
(C) by moving the text of such subsection in line
with the subsection heading and redesignating
subparagraphs (A) and (B) as paragraphs (1) and (2),
respectively.
(2) Modification of base period.--Paragraph (2) of section
45M(c) of such Code, as amended by paragraph (1) of this
section, is amended by striking ``3-calendar year'' and
inserting ``2-calendar year''.
(c) Types of Energy Efficient Appliances.--Subsection (d) of
section 45M of such Code is amended to read as follows:
``(d) Types of Energy Efficient Appliance.--For purposes of this
section, the types of energy efficient appliances are--
``(1) dishwashers described in subsection (b)(1),
``(2) clothes washers described in subsection (b)(2),
``(3) refrigerators described in subsection (b)(3), and
``(4) dehumidifiers described in subsection (b)(4).''.
(d) Aggregate Credit Amount Allowed.--
(1) Increase in limit.--Paragraph (1) of section 45M(e) of
such Code is amended to read as follows:
``(1) Aggregate credit amount allowed.--The aggregate
amount of credit allowed under subsection (a) with respect to a
taxpayer for any taxable year shall not exceed $75,000,000
reduced by the amount of the credit allowed under subsection
(a) to the taxpayer (or any predecessor) for all prior taxable
years beginning after December 31, 2007.''.
(2) Exception for certain refrigerator and clothes
washers.--Paragraph (2) of section 45M(e) of such Code is
amended to read as follows:
``(2) Amount allowed for certain refrigerators and clothes
washers.--Refrigerators described in subsection (b)(3)(D) and
clothes washers described in subsection (b)(2)(D) shall not be
taken into account under paragraph (1).''.
(e) Qualified Energy Efficient Appliances.--
(1) In general.--Paragraph (1) of section 45M(f) of such
Code is amended to read as follows:
``(1) Qualified energy efficient appliance.--The term
`qualified energy efficient appliance' means--
``(A) any dishwasher described in subsection
(b)(1),
``(B) any clothes washer described in subsection
(b)(2),
``(C) any refrigerator described in subsection
(b)(3), and
``(D) any dehumidifier described in subsection
(b)(4).''.
(2) Clothes washer.--Section 45M(f)(3) of such Code is
amended by inserting ``commercial'' before ``residential'' the
second place it appears.
(3) Top-loading clothes washer.--Subsection (f) of section
45M of such Code is amended by redesignating paragraphs (4),
(5), (6), and (7) as paragraphs (5), (6), (7), and (8),
respectively, and by inserting after paragraph (3) the
following new paragraph:
``(4) Top-loading clothes washer.--The term ``top-loading
clothes washer'' means a clothes washer which has the clothes
container compartment access located on the top of the machine
and which operates on a vertical axis.''.
(4) Dehumidifier.--Subsection (f) of section 45M of such
Code, as amended by paragraph (3), is amended by redesignating
paragraphs (6), (7), and (8) as paragraphs (7), (8) and (9),
respectively, and by inserting after paragraph (5) the
following new paragraph:
``(6) Dehumidifier.--The term `dehumidifier' means a self-
contained, electrically operated, and mechanically refrigerated
encased assembly consisting of--
``(A) a refrigerated surface that condenses
moisture from the atmosphere,
``(B) a refrigerating system, including an electric
motor,
``(C) an air-circulating fan, and
``(D) means for collecting or disposing of
condensate.''.
(5) Replacement of energy factor.--Section 45M(f)(7) of
such Code, as amended by paragraph (4), is amended to read as
follows:
``(7) Modified energy factor.--The term `modified energy
factor' means the modified energy factor established by the
Department of Energy for compliance with the Federal energy
conservation standard.''.
(6) Gallons per cycle; water consumption factor.--Section
45M(f) of such Code is amended by adding at the end the
following:
``(10) Gallons per cycle.--The term `gallons per cycle'
means, with respect to a dishwasher, the amount of water,
expressed in gallons, required to complete a normal cycle of a
dishwasher.
``(11) Water consumption factor.--The term `water
consumption factor' means, with respect to a clothes washer,
the quotient of the total weighted per-cycle water consumption
divided by the cubic foot (or liter) capacity of the clothes
washer.''.
(f) Effective Date.--The amendments made by this section shall
apply to appliances produced after December 31, 2007.
<all>
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E2119)
Referred to the House Committee on Ways and Means.
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