Prioritizing Energy-Efficient Renewables Act of 201 7 This bill amends the Internal Revenue Code to: (1) make permanent the tax credits for producing electricity from wind, geothermal energy, hydropower, and marine and hydrokinetic renewable energy facilities; (2) repeal the tax deduction for intangible drilling and development costs for oil and gas wells; (3) repeal the tax deduction for income attributable to the production, refining, transportation, or distribution of oil, natural gas, or any primary product thereof; and (4) repeal the percentage depletion allowance for oil and gas wells.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Alternative and renewable resourcesIncome tax creditsIncome tax deductionsOil and gas
To amend the Internal Revenue Code of 1986 to extend certain provisions of the renewable energy credit, and for other purposes.
USA115th CongressHR-4636| House
| Updated: 12/13/2017
Prioritizing Energy-Efficient Renewables Act of 201 7 This bill amends the Internal Revenue Code to: (1) make permanent the tax credits for producing electricity from wind, geothermal energy, hydropower, and marine and hydrokinetic renewable energy facilities; (2) repeal the tax deduction for intangible drilling and development costs for oil and gas wells; (3) repeal the tax deduction for income attributable to the production, refining, transportation, or distribution of oil, natural gas, or any primary product thereof; and (4) repeal the percentage depletion allowance for oil and gas wells.