summary
Introduced
11/19/2019
11/19/2019
In Committee
11/19/2019
11/19/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Internal Revenue Code of 1986 to provide for elective payments for energy property and electricity produced from certain renewable resources. This bill allows Indian tribal governments and other taxpayers to elect to receive tax excludable payments in lieu of credit amounts attributable to the tax credits for energy property and for electricity produced from certain renewable resources. The payments to such other taxpayers are limited to 85% of the credit amounts.
AI Summary
This bill, the Renewable Energy Investment Act of 2019, allows Indian tribal governments and other taxpayers to elect to receive tax-excludable payments in lieu of tax credits for energy property and electricity produced from certain renewable resources. The payments to non-tribal taxpayers are limited to 85% of the credit amounts. This provision is intended to incentivize investment in renewable energy by making the tax benefits more accessible and liquid for these taxpayers.
Committee Categories
Budget and Finance
Sponsors (10)
Earl Blumenauer (D)*,
Don Beyer (D),
Danny Davis (D),
Suzan DelBene (D),
Jimmy Gomez (D),
Steven Horsford (D),
Gwen Moore (D),
Jimmy Panetta (D),
Linda Sánchez (D),
Tom Suozzi (D),
Last Action
Referred to the House Committee on Ways and Means. (on 11/19/2019)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/5157/all-info |
| BillText | https://www.congress.gov/116/bills/hr5157/BILLS-116hr5157ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr5157/BILLS-116hr5157ih.pdf.pdf |
Loading...