Energy Tax Credit Direct Payment Act of 2020

Energy Tax Credit Direct Payment Act of 2020

This bill reinstates in 2020 the program authorizing the Department of the Treasury to convert certain alternative clean energy tax credits into cash grants.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7491 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 7491

  To amend the American Recovery and Reinvestment Tax Act of 2009 to 
revive the section 1603 program allowing the Secretary of the Treasury 
     to convert certain clean energy tax credits into cash grants.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              July 6, 2020

    Mr. Casten of Illinois introduced the following bill; which was 
  referred to the Committee on Ways and Means, and in addition to the 
   Committee on Energy and Commerce, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
  To amend the American Recovery and Reinvestment Tax Act of 2009 to 
revive the section 1603 program allowing the Secretary of the Treasury 
     to convert certain clean energy tax credits into cash grants.

    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 ``Energy Tax Credit Direct Payment Act 
of 2020''.

SEC. 2. SECTION 1603 PROGRAM REVIVED.

    (a) In General.--Section 1603 of the American Recovery and 
Reinvestment Tax Act of 2009 is amended--
            (1) in subsection (a)--
                    (A) in paragraph (1), by striking ``2009 or 2010'' 
                and inserting ``2020'', and
                    (B) in paragraph (2), by striking ``after 2010'' 
                and inserting ``after 2020'' and by striking ``during 
                2009 or 2010'' and inserting ``during 2020 or 2021'',
            (2) in subsection (e)--
                    (A) in paragraph (1), by striking ``January 1, 
                2013'' and inserting ``January 1, 2021'',
                    (B) in paragraph (2), by inserting ``or in 
                subparagraphs (5)(C) or (5)(E) of section 48(a)'' after 
                ``section 45(d)'' and by striking ``January 1, 2014'' 
                and inserting ``January 1, 2021'',
                    (C) in paragraph (3), by inserting ``except those 
                described in subparagraphs (5)(C) or (5)(E) of section 
                48(a)'' after ``section 48'' and by striking ``January 
                1, 2017'' and inserting ``January 1, 2022'', and
            (3) in subsection (j), by striking ``before October 1, 
        2011'' and inserting ``before October 1, 2022''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2019.
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