Renewable Energy Extension Act of 2019

II 116TH CONGRESS 1ST SESSION S. 2289 To amend the Internal Revenue Code of 1986 to provide for an extension of the energy credit and the credit for residential energy efficient property. IN THE SENATE OF THE UNITED STATES JULY 25, 2019 Ms. CORTEZ MASTO (for herself, Mr. WHITEHOUSE, Mr. MERKLEY, Mr. BOOKER, Mr. UDALL, Ms. KLOBUCHAR, Mr. VAN HOLLEN, Mr. BLUMENTHAL, Mrs. FEINSTEIN, Mr. BENNET, Mr. REED, Mrs. GILLI- BRAND, Ms. ROSEN, Ms. HARRIS, Mr. COONS, and Ms. BALDWIN) intro- duced the following bill; which was read twice and referred to the Com- mittee on Finance A BILL To amend the Internal Revenue Code of 1986 to provide for an extension of the energy credit and the credit for residential energy efficient property. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Renewable Energy Ex- 4 tension Act of 2019’’. 5 SEC. 2. EXTENSION AND PHASEOUT OF ENERGY CREDIT. 6 (a) EXTENSIONS.—Section 48 of the Internal Rev- 7 enue Code of 1986 is amended— 8 VerDate Sep 11 2014 00:42 Jul 30, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2289.IS S2289 SSpencer on DSKBBXCHB2PROD with BILLS 2 •S 2289 IS (1) in subsection (a)— 1 (A) in paragraph (2)(A)(i)(II), by striking 2 ‘‘January 1, 2022’’ and inserting ‘‘January 1, 3 2027’’; and 4 (B) in paragraph (3)(A)— 5 (i) in clause (ii), by striking ‘‘January 6 1, 2022’’ and inserting ‘‘January 1, 7 2027’’; and 8 (ii) in clause (vii), by striking ‘‘Janu- 9 ary 1, 2022’’ and inserting ‘‘January 1, 10 2027’’; and 11 (2) in subsection (c)— 12 (A) in paragraph (1)(D), by striking ‘‘Jan- 13 uary 1, 2022’’ and inserting ‘‘January 1, 14 2027’’; 15 (B) in paragraph (2)(D), by striking ‘‘Jan- 16 uary 1, 2022’’ and inserting ‘‘January 1, 17 2027’’; 18 (C) in paragraph (3)(A)(iv), by striking 19 ‘‘January 1, 2022’’ and inserting ‘‘January 1, 20 2027’’; and 21 (D) in paragraph (4)(C), by striking ‘‘Jan- 22 uary 1, 2022’’ and inserting ‘‘January 1, 23 2027’’. 24 (b) PHASEOUTS.— 25 VerDate Sep 11 2014 00:42 Jul 30, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S2289.IS S2289 SSpencer on DSKBBXCHB2PROD with BILLS 3 •S 2289 IS (1) SOLAR ENERGY PROPERTY.—Section 1 48(a)(6) of the Internal Revenue Code of 1986 is 2 amended— 3 (A) in subparagraph (A)— 4 (i) by striking ‘‘January 1, 2022, the 5 energy percentage’’ and inserting ‘‘Janu- 6 ary 1, 2027, the energy percentage’’; 7 (ii) in clause (i), by striking ‘‘after 8 December 31, 2019, and before January 1, 9 2021’’ and inserting ‘‘after December 31, 10 2024, and before January 1, 2026’’; and 11 (iii) in clause (ii), by striking ‘‘after 12 December 31, 2020, and before January 1, 13 2022’’ and inserting ‘‘after December 31, 14 2025, and before January 1, 2027’’; and 15 (B) in subparagraph (B), by striking ‘‘be- 16 gins before January 1, 2022, and which is not 17 placed in service before January 1, 2024’’ and 18 inserting ‘‘begins before January 1, 2027, and 19 which is not placed in service before January 1, 20 2029’’. 21 (2) FIBER-OPTIC SOLAR, QUALIFIED FUEL 22 CELL, AND QUALIFIED SMALL WIND ENERGY PROP- 23 ERTY.—Section 48(a)(7) of such Code is amended— 24 (A) in subparagraph (A)— 25 VerDate Sep 11 2014 00:42 Jul 30, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S2289.IS S2289 SSpencer on DSKBBXCHB2PROD with BILLS 4 •S 2289 IS (i) in clause (i), by striking ‘‘after De- 1 cember 31, 2019, and before January 1, 2 2021’’ and inserting ‘‘after December 31, 3 2024, and before January 1, 2026’’; and 4 (ii) in clause (ii), by striking ‘‘after 5 December 31, 2020, and before January 1, 6 2022’’ and inserting ‘‘after December 31, 7 2025, and before January 1, 2027’’; and 8 (B) in subparagraph (B), by striking 9 ‘‘January 1, 2024’’ and inserting ‘‘January 1, 10 2029’’. 11 (c) EFFECTIVE DATE.—The amendments made by 12 this section shall take effect on January 1, 2020. 13 SEC. 3. EXTENSION AND PHASEOUT OF CREDIT FOR RESI- 14 DENTIAL ENERGY EFFICIENT PROPERTY. 15 (a) APPLICABLE PERCENTAGE.—Subsection (g) of 16 section 25D of the Internal Revenue Code of 1986 is 17 amended— 18 (1) in paragraph (1), by striking ‘‘January 1, 19 2020’’ and inserting ‘‘January 1, 2025’’; 20 (2) in paragraph (2), by striking ‘‘after Decem- 21 ber 31, 2019, and before January 1, 2021’’ and in- 22 serting ‘‘after December 31, 2024, and before Janu- 23 ary 1, 2026’’; and 24 VerDate Sep 11 2014 00:42 Jul 30, 2019 Jkt 089200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S2289.IS S2289 SSpencer on DSKBBXCHB2PROD with BILLS 5 •S 2289 IS (3) in paragraph (3), by striking ‘‘after Decem- 1 ber 31, 2020, and before January 1, 2022’’ and in- 2 serting ‘‘after December 31, 2025, and before Janu- 3 ary 1, 2027’’. 4 (b) TERMINATION.—Subsection (h) of section 25D of 5 such Code is amended by striking ‘‘December 31, 2021’’ 6 and inserting ‘‘December 31, 2026’’. 7 (c) EFFECTIVE DATE.—The amendments made by 8 this section shall apply to property placed in service after 9 December 31, 2019. 10 Æ VerDate Sep 11 2014 00:42 Jul 30, 2019 Jkt 089200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6301 E:\BILLS\S2289.IS S2289 SSpencer on DSKBBXCHB2PROD with BILLS