A bill to amend the Internal Revenue Code of 1954 to extend the general energy investment tax credit to December 31, 1985, and to expand the application of the special rules for certain long-term projects.

Amends the Internal Revenue Code to extend from 1982 to 1985 the period of time in which the general energy percentage, for purposes of the investment tax credit, is applicable. Extends the period of time from 1988 to 1993 for the application of special rules for hydroelectric generating property.