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]

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%.

Tracking Information

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Title

BTU Act of 2019 Biomass Thermal Utilization Act of 2019

Sponsors


History

DateChamberAction
2019-02-28SenateRead 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


US Congress State Sources


Bill Comments

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