Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
II
116TH CONGRESS
1ST SESSION
S. 1327
To amend the Internal Revenue Code of 1986 to extend the credit for
production of refined coal.
IN THE SENATE OF THE UNITED STATES
MAY 6, 2019
Mr. HOEVEN (for himself and Mr. CRAMER) introduced the following bill;
which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to extend
the credit for production of refined coal.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. EXTENSION OF REFINED COAL PRODUCTION
3
TAX CREDIT.
4
(a) EXTENSION OF PERIOD DURING WHICH RE-
5
FINED COAL CAN BE PRODUCED.—Section 45(e)(8) of
6
the Internal Revenue Code of 1986 is amended by adding
7
at the end the following new subparagraph:
8
‘‘(E) EXTENSION OF CREDIT PERIOD FOR
9
CERTAIN
REFINED
COAL
FACILITIES.—In the
10
VerDate Sep 11 2014
23:21 May 09, 2019
Jkt 089200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\S1327.IS
S1327
kjohnson on DSK79L0C42 with BILLS
2
•S 1327 IS
case of a refined coal production facility which
1
does not produce steel industry fuel and which
2
is placed in service before January 1, 2012,
3
clauses (i) and (ii)(II) of subparagraph (A)
4
shall each be applied by substituting ‘20-year
5
period’ for ‘10-year period’.’’.
6
(b) EXTENSION OF PERIOD DURING WHICH RE-
7
FINED COAL FACILITIES CAN BE QUALIFIED.—Subpara-
8
graph (B) of section 45(d)(8) of the Internal Revenue
9
Code of 1986 is amended—
10
(1) by striking ‘‘placed in service after’’ and in-
11
serting ‘‘placed in service—
12
‘‘(i) after’’;
13
(2) by striking the period at the end and insert-
14
ing ‘‘, or’’; and
15
(3) by adding at the end the following new
16
clause:
17
‘‘(ii) after December 31, 2018, and
18
before January 1, 2022.’’.
19
(c) EFFECTIVE DATE.—The amendments made by
20
this section shall apply to coal produced and sold after
21
the date of the enactment of this Act, in taxable years
22
ending after such date.
23
Æ
VerDate Sep 11 2014
23:21 May 09, 2019
Jkt 089200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6301
E:\BILLS\S1327.IS
S1327
kjohnson on DSK79L0C42 with BILLS