PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Jul 12, 1999
Amends the Internal Revenue Code to revise and extend the placed-in-service rules applicable to the credit for electricity produced from renewable sources. Provides, under the new rules, that: (1) a qualified wind facility is one originally placed in service after December 31, 1993, and before July 1, 2004; and (2) a qualified biomass facility (currently, limited to qualified closed-loop biomass facilities), with respect to any month, is one originally placed in service before July 1, 2004, if for such month biomass comprises not less than 75 percent (on a Btu basis) of the average monthly fuel input of the facility for the taxable year which includes such month, or in the case of a facility principally using coal to produce electricity, biomass comprises not more than 25 percent (on a Btu basis) of the average monthly fuel input of the facility for the taxable year which includes such month. Sets forth additional special rules for biomass facilities.Prohibits, subject to exception, the credit from applying to electricity produced at a qualified facility placed in service after June 30, 1999, and sold to a utility pursuant to a contract originally entered into before January 1, 1987.
People & committees
Sen. Grassley, Chuck [R-IA] · R–IA
Legislative record
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Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S8269-8270)
Introduced in Senate
Primary sources
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Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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