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A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for coal-powered electric generation units.

USA115th CongressS-2681| Senate 
| Updated: 4/17/2018
Joe Manchin

Joe Manchin

Independent Senator

West Virginia

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Energy Reliability Act of 2018 This bill amends the Internal Revenue Code to allow a tax credit through 2022 for a portion of the expenses for the operation or maintenance of a coal-powered electric generation unit, excluding expenses for coal. The credit applies to taxpayers who own or lease an electric generation unit that: (1) uses coal to produce at least 75% of the electricity produced by the unit, and (2) has constructed and installed emissions controls pursuant to specified Environmental Protection Agency (EPA) regulations or any other applicable federal emissions control requirements that are equal to or more stringent than the EPA regulations. Taxpayers may transfer the credit to an eligible project partner. An "eligible project partner" is a person who: is responsible for operating, maintaining, or repairing the unit; participates in the provision, including transportation, of coal or other materials and supplies to the unit; provides financing for the construction, expansion, repair, or operation of the unit; or leases the unit. If a unit claims a credit under this bill, the Federal Energy Regulatory Commission (FERC) must require the applicable reliability coordinator to conduct an assessment analyzing the reliability and resilience attributes offered by the unit to the regional grid in which it is located. FERC must submit to Congress: (1) the results of the assessments, and (2) a recommendation as to whether the credit should be extended after 2022.
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Timeline
Mar 14, 2018

Latest Companion Bill Action

HR 115-5270
Introduced in House
Apr 17, 2018
Introduced in Senate
Apr 17, 2018
Read twice and referred to the Committee on Finance.
  • March 14, 2018

    Latest Companion Bill Action

    HR 115-5270
    Introduced in House


  • April 17, 2018
    Introduced in Senate


  • April 17, 2018
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • S 115-2677: A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for coal-powered electric generation units.
  • HR 115-5270: To amend the Internal Revenue Code of 1986 to allow a credit against tax for coal-powered electric generation units.

A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for coal-powered electric generation units.

USA115th CongressS-2681| Senate 
| Updated: 4/17/2018
Energy Reliability Act of 2018 This bill amends the Internal Revenue Code to allow a tax credit through 2022 for a portion of the expenses for the operation or maintenance of a coal-powered electric generation unit, excluding expenses for coal. The credit applies to taxpayers who own or lease an electric generation unit that: (1) uses coal to produce at least 75% of the electricity produced by the unit, and (2) has constructed and installed emissions controls pursuant to specified Environmental Protection Agency (EPA) regulations or any other applicable federal emissions control requirements that are equal to or more stringent than the EPA regulations. Taxpayers may transfer the credit to an eligible project partner. An "eligible project partner" is a person who: is responsible for operating, maintaining, or repairing the unit; participates in the provision, including transportation, of coal or other materials and supplies to the unit; provides financing for the construction, expansion, repair, or operation of the unit; or leases the unit. If a unit claims a credit under this bill, the Federal Energy Regulatory Commission (FERC) must require the applicable reliability coordinator to conduct an assessment analyzing the reliability and resilience attributes offered by the unit to the regional grid in which it is located. FERC must submit to Congress: (1) the results of the assessments, and (2) a recommendation as to whether the credit should be extended after 2022.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 14, 2018

Latest Companion Bill Action

HR 115-5270
Introduced in House
Apr 17, 2018
Introduced in Senate
Apr 17, 2018
Read twice and referred to the Committee on Finance.
  • March 14, 2018

    Latest Companion Bill Action

    HR 115-5270
    Introduced in House


  • April 17, 2018
    Introduced in Senate


  • April 17, 2018
    Read twice and referred to the Committee on Finance.
Joe Manchin

Joe Manchin

Independent Senator

West Virginia

Finance Committee

Taxation

Related Bills

  • S 115-2677: A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for coal-powered electric generation units.
  • HR 115-5270: To amend the Internal Revenue Code of 1986 to allow a credit against tax for coal-powered electric generation units.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted