Energy Tax Credit Direct Payment Act of 2020

I 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 En- ergy 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 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 ‘‘Energy Tax Credit 4 Direct Payment Act of 2020’’. 5 VerDate Sep 11 2014 01:23 Jul 26, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H7491.IH H7491 pbinns on DSKJLVW7X2PROD with BILLS 2 •HR 7491 IH SEC. 2. SECTION 1603 PROGRAM REVIVED. 1 (a) IN GENERAL.—Section 1603 of the American Re- 2 covery and Reinvestment Tax Act of 2009 is amended— 3 (1) in subsection (a)— 4 (A) in paragraph (1), by striking ‘‘2009 or 5 2010’’ and inserting ‘‘2020’’, and 6 (B) in paragraph (2), by striking ‘‘after 7 2010’’ and inserting ‘‘after 2020’’ and by strik- 8 ing ‘‘during 2009 or 2010’’ and inserting ‘‘dur- 9 ing 2020 or 2021’’, 10 (2) in subsection (e)— 11 (A) in paragraph (1), by striking ‘‘January 12 1, 2013’’ and inserting ‘‘January 1, 2021’’, 13 (B) in paragraph (2), by inserting ‘‘or in 14 subparagraphs (5)(C) or (5)(E) of section 15 48(a)’’ after ‘‘section 45(d)’’ and by striking 16 ‘‘January 1, 2014’’ and inserting ‘‘January 1, 17 2021’’, 18 (C) in paragraph (3), by inserting ‘‘except 19 those described in subparagraphs (5)(C) or 20 (5)(E) of section 48(a)’’ after ‘‘section 48’’ and 21 by striking ‘‘January 1, 2017’’ and inserting 22 ‘‘January 1, 2022’’, and 23 (3) in subsection (j), by striking ‘‘before Octo- 24 ber 1, 2011’’ and inserting ‘‘before October 1, 25 2022’’. 26 VerDate Sep 11 2014 01:23 Jul 26, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H7491.IH H7491 pbinns on DSKJLVW7X2PROD with BILLS 3 •HR 7491 IH (b) EFFECTIVE DATE.—The amendments made by 1 this section shall apply to taxable years beginning after 2 December 31, 2019. 3 Æ VerDate Sep 11 2014 01:23 Jul 26, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H7491.IH H7491 pbinns on DSKJLVW7X2PROD with BILLS