Bill
Bill > HR5409
summary
Introduced
12/12/2019
12/12/2019
In Committee
12/12/2019
12/12/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Internal Revenue Code to provide tax credits for energy storage technology, and for other purposes. This bill provides for tax credits for energy storage technologies, including a residential energy efficient property credit for battery storage technology expenditures.
AI Summary
This bill, known as the Incentivizing New and Valuable Energy Storage Technology (INVEST) Act of 2019, aims to provide tax credits for energy storage technologies. Specifically, it amends the Internal Revenue Code to include energy storage equipment, such as batteries, compressed air, pumped hydropower, and other technologies, as eligible for the investment tax credit. Additionally, the bill introduces a residential energy efficient property credit for battery storage technology expenditures. The bill also includes provisions related to public utility property, allowing taxpayers to elect not to have the normalization requirements apply to certain energy storage property placed in service after December 31, 2018.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to the House Committee on Ways and Means. (on 12/12/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/5409/all-info |
| BillText | https://www.congress.gov/116/bills/hr5409/BILLS-116hr5409ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr5409/BILLS-116hr5409ih.pdf.pdf |
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