US SB628 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on February 28 2019 - 25% progression, died in committee
Action: 2019-02-28 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 28 2019 - 25% progression, died in committee
Action: 2019-02-28 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Expands the tax credit for residential energy efficient property to include 30% of qualified biomass fuel property expenditures for property placed in service before 2024. A qualified biomass fuel property expenditure is an expenditure for property that uses the burning of biomass fuel (a plant-derived fuel available on a renewable or recurring basis) to heat a dwelling used as a residence, or to heat water for use in such dwelling, and which has a thermal efficiency rating of at least 75%. The bill also allows (1) a 15% energy tax credit until 2024 for investment in open-loop biomass heating property, including boilers or furnaces that operate at thermal output efficiencies of at least 65% and provide thermal energy in the form of heat, hot water, or steam for space heating, air conditioning, domestic hot water, or industrial process heat; and (2) a 30% credit until 2024 for investment in such property that operates at a thermal output efficiency of at least 80%.
Title
BTU Act of 2019 Biomass Thermal Utilization Act of 2019
Sponsors
Sen. Angus King [I-ME] | Sen. Susan Collins [R-ME] | Sen. Margaret Hassan [D-NH] | Sen. Patrick Leahy [D-VT] |
Sen. Jeanne Shaheen [D-NH] | Sen. Tammy Baldwin [D-WI] | Sen. Lisa Murkowski [R-AK] |
History
Date | Chamber | Action |
---|---|---|
2019-02-28 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB1479 (Same As) 2019-02-28 - Referred to the House Committee on Ways and Means.
Subjects
Alternative and renewable resources
Business investment and capital
Energy efficiency and conservation
Income tax credits
Lighting, heating, cooling
Residential rehabilitation and home repair
Taxation
Business investment and capital
Energy efficiency and conservation
Income tax credits
Lighting, heating, cooling
Residential rehabilitation and home repair
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/628/all-info |
Text | https://www.congress.gov/116/bills/s628/BILLS-116s628is.pdf |