Sunshine Forever Act
This bill extends for ten years the 30% energy tax credit and its phaseout for solar energy property. It also extends for a ten year period the tax credit for residential energy efficient property with respect to qualified solar electric property and water heating property.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2356 Introduced in House (IH)]
<DOC>
116th CONGRESS
1st Session
H. R. 2356
To amend the Internal Revenue Code of 1986 to extend certain credits
related to solar energy.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 25, 2019
Mr. Crist 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.
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 ``Sunshine Forever Act''.
SEC. 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, 2022'' and inserting
``January 1, 2032''.
(b) Extension of Phaseout.--Section 48(a)(6) of such Code is
amended--
(1) in subparagraph (A)--
(A) by striking ``January 1, 2022'' in the matter
preceding clause (i) and inserting ``January 1, 2032'',
(B) by striking ``after December 31, 2019, and
before January 1, 2021'' in clause (i) and inserting
``during 2030'', and
(C) by striking ``after December 31, 2020, and
before January 1, 2022'' in clause (ii) and inserting
``during 2031'', and
(2) in subparagraph (B)--
(A) by striking ``January 1, 2022'' and inserting
``January 1, 2032'', and
(B) by striking ``January 1, 2024'' and inserting
``January 1, 2034''.
(c) Effective Date.--The amendments made by this section shall take
effect on the date of the enactment of this Act.
SEC. 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, 2031, in the case of any
qualified solar electric property expenditures and qualified solar
water heating property expenditures)'' before the period at the end.
(b) Applicable Percentage.--Section 25D(g) of such Code is amended
to read as follows:
``(g) Applicable Percentage.--
``(1) In general.--Except as provided in paragraph (2), for
purposes of subsection (a), the applicable percentage shall
be--
``(A) in the case of property placed in service
after December 31, 2016, and before January 1, 2020, 30
percent,
``(B) in the case of property placed in service
during 2020, 26 percent, and
``(C) in the case of property placed in service
during 2021, 22 percent.
``(2) Qualified solar electric property expenditures and
qualified solar water heating property expenditures.--In the
case of any qualified solar electric property expenditures or
qualified solar water heating property expenditures, for
purposes of paragraphs (1) and (2) of subsection (a), the
applicable percentage shall be--
``(A) in the case of property placed in service
after December 31, 2016, and before January 1, 2030, 30
percent,
``(B) in the case of property placed in service
during 2030, 26 percent, and
``(C) in the case of property placed in service
during 2031, 22 percent.''.
(c) Effective Date.--The amendments made by this section shall take
effect on the date of the enactment of this Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line