United States 115th Congress Status: Died 17 R cosponsors

HR 5270 — Electricity Reliability and Fuel Security Act

Last action — Referred to the House Committee on Ways and Means.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 115th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

In plain language

The bill provides a tax credit for coal-powered electric generation units.

This bill amends tax law to create a credit for owners or leasers of coal-powered electric generation units. The credit is either 30% of qualified expenses or a set amount based on the unit's capacity.

What this means for you
  • Small Business: This could benefit small businesses that operate coal-powered electric generation units by reducing their tax burden.

Summary

Electricity Reliability and Fuel Security Act 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 uses coal to produce at least 75% of the electricity produced by the unit. Qualified public entities may transfer the credit to an eligible project partner. A "qualified public entity" is: (1) a federal, state, or local government entity or any political subdivision, agency, or instrumentality thereof; (2) a mutual or cooperative electric company; or (3) a not-for-profit electric utility which had or has received a loan or loan guarantee under the Rural Electrification Act of 1936. 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 to the unit; provides financing for the construction or operation of the unit; or leases the unit.

Bill Text

Sections of law this bill changes

1 section in 1 law

From the bill's own amending language, matched to the official United States Code (current through Public Law 119-124).

Normal taxes and surtaxes · 26 U.S.C. ch. 1 1 section
  • § 38 General business credit Amends

    26 U.S.C. § 38 — at 38(c)(4)

    The law today

    (a) Allowance of credit There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of— (1) the business credit carryforwards carried to such taxable year, (2) the amount of the current year business credit, plus (3) the business credit carrybacks carried to such taxable year. (b) Current year business credit For purposes of this subpart, the amount of the current year business credit is the sum of the following credits determined for the taxable year: (1) the investment credit determined under section 46, (2) the work opportunity credit determined under section 51(a), (3) the alcohol fuels credit determined under section 40(a), (4) the research credit determined under section 41(a), (5) the low-income housing credit determined under section 42(a), (6) the enhanced oil recovery credit under section 43(a), (7) in the case of an eligible small business (as defined in section 44(b)), the disabled access credit determined under section 44(a), (8) the renewable electricity production credit under section 45(a), (9) the empowerment zone employment credit determined under section 1396(a), (10) the Indian employment credit as determined under section 45A(a), (11) the employer social security credit determined under section 45B(a), (12) the orphan drug credit determined under section 45C(a), (13) the new markets tax credit determined under section 45D(a), (14) in the case of an eligible employer (as defined in section 45E(c)), the small employer pension plan startup cost credit determined under section 45E(a), (15) the employer-provided child care credit determined under section 45F(a), (16) the railroad track maintenance credit determined under section 45G(a), (17) the biodiesel fuels credit determined under section 40A(a), (18) the low sulfur diesel fuel production credit determined under section 45H(a), (19) the marginal oil and gas well production credit determined under section 45I(a), (20) the distilled spirits credit determined under section 5011(a), (21) the advanced nuclear power facility production credit determined under section 45J(a), (22) the nonconventional source production credit determined under section 45K(a), (23) the new energy efficient home credit determined under section 45L(a), (24) the portion of the alternative motor vehicle credit to which section 30B(g)(1) applies, (25) the portion of the alternative fuel vehicle refueling property credit to which section 30C(d)(1) applies, (26) the mine rescue team training credit determined under section 45N(a), (27) in the case of an eligible agricultural business (as defined in section 45O(e)), the agricultural chemicals security credit determined under section 45O(a), (28) the differential wage payment credit determined under section 45P(a), (29) the carbon dioxide sequestration credit determined under section 45Q(a), (30) the portion of the new clean vehicle credit to which section 30D(c)(1) applies, (31) the small employer health insurance credit determined under section 45R, (32) in the case of an eligible employer (as defined in section 45S(c)), the paid family and medical leave credit determined under section 45S(a), (33) in the case of an eligible employer (as defined in section 45T(c)), the retirement auto-enrollment credit determined under section 45T(a), plus (34) the zero-emission nuclear power production credit determined under section 45U(a). (35) the sustainable aviation fuel credit determined under section 40B, (36) the clean hydrogen production credit determined under section 45V(a), (37) the qualified commercial clean vehicle credit determined under section 45W, (38) the advanced manufacturing production credit determined under section 45X(a), (39) the clean electricity production credit determined under section 45Y(a), (40) the clean fuel production credit determined under section 45Z(a), plus (41) in the case of an eligible small employer (as defined in section 45AA(c)), the military sp...

    464 other bills also change this section · Follow it → Official text at uscode.house.gov ↗

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill establishes a new federal tax credit for coal-powered electric generation units.

  • Section 45T

    SEC. 45T. COAL-POWERED ELECTRIC GENERATION UNIT CREDIT. (a) In General.--For purposes of section 38, in the case of a taxpayer who owns or leases a coal-powered electric generation unit, the coal-powered electric generation unit credit determined under this section for a taxable year shall be an amount equal to the lesser of 30 percent of qualified expenses paid or incurred by such taxpayer in such year or the product of-- (1) $13, multiplied by (2) the nameplate capacity rating in kilowatts of such unit. (b) Coal-Powered Electric Generation Unit.--For purposes of this section, the term `coal-powered electric generation unit' means an electric generation unit (as defined in section 48A(c)(6)) that uses coal to produce not less than 75 percent of the electricity produced by such unit. (c) Qualified Expenses.--For purposes of this section, the term `qualified expenses' means amounts paid or incurred for the operation or maintenance of a coal-powered electric generation unit, other than amounts paid or incurred for coal. (d) Transfer of Credit by Certain Public Entities.-- (1) In general.--If, with respect to a credit under subsection (a) for any taxable year-- (A) a qualified public entity would be the taxpayer (but for this paragraph), and (B) such entity elects the application of this paragraph for such taxable year with respect to all (or any portion specified in such election) of such credit, the eligible project partner specified in such election, and not the qualified public entity, shall be treated as the taxpayer for purposes of this title with respect to such credit (or such portion thereof). (2) Definitions.--For purposes of this subsection-- (A) Qualified public entity.--The term `qualified public entity' means-- (i) a Federal, State, or local government entity, or any political subdivision, agency, or instrumentality thereof, (ii) a mutual or cooperative electric company described in section 501(c)(12) or 1381(a)(2), or (iii) a not-for-profit electric utility which had or has received a loan or loan guarantee under the Rural Electrification Act of 1936. (B) Eligible project partner.--With respect to coal-powered electric generation unit, the term `eligible project partner' means any person who-- (i) is responsible for operating, maintaining, or repairing such unit, (ii) participates in the provision, including transportation, of coal to such unit, (iii) provides financing for the construction or operation of such unit, or (iv) leases such unit. (3) Special rules.-- (A) Application to partnerships.--In the case of a credit under subsection (a) which is determined at the partnership level-- (i) for purposes of paragraph (1)(A), a qualified public entity shall be treated as the taxpayer with respect to such entity's distributive share of such credit, and (ii) the term `eligible project partner' shall include any partner of the partnership. (B) Taxable year in which credit taken into account.--In the case of any credit (or portion thereof) with respect to which an election is made under paragraph (1), such credit shall be taken into account in the first taxable year of the eligible project partner ending with, or after, the qualified public entity's taxable year with respect to which the credit was determined. (C) Treatment of transfer under private use rules.--For purposes of section 141(b)(1), any benefit derived by an eligible project partner in connection with an election under this subsection shall not be taken into account as a private business use. (e) Basis Adjustment.--For purposes of this subtitle, if a credit is allowed under this section with respect to any coal-powered electric generation unit, the basis of such property shall be reduced by the amount of the credit so allowed. (f) Termination.--This section shall apply to taxable years beginning after December 31, 2017, and ending before January 1, 2023.

    Creates a new tax credit for expenses related to coal-powered electric generation units.

  • Section 501(c)(12)(I)

    or 45T(d)(1)

    Connects the new coal-powered electric generation credit to existing tax regulations regarding public entities.

  • 38(c)(4)

    Clauses (x), (xi), and (xii) → Clauses (xi), (xii), and (xiii)

    Renumbers existing clauses to accommodate the addition of the new coal-powered electric generation unit credit.

  • 38(c)(4)

    (x) the credit determined under section 45T,

    Allows the new coal-powered electric generation unit credit to be accounted against alternative minimum tax.

  • Sec. 45T. Coal-powered electric generation unit credit.

    Adds a new section header in the tax code for the coal-powered electric generation unit credit.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Ways and Means.

Sponsors

Sponsorship breakdown

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1 sponsors · 16 co-sponsors · 530 not signed on

Sponsors (1)

Co-sponsors (16)

Not signed on (530)

530 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation energy
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 5270 do?
Electricity Reliability and Fuel Security Act 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 uses coal to produce at least 75% of the electricity produced by the unit. Qualified public entities may transfer the credit to an eligible project partner. A "qualified public entity" is: (1) a federal, state, or local government entity or any political subdivision, agency, or instrumentality thereof; (2) a mutual or cooperative electric company; or (3) a not-for-profit electric utility which had or has received a loan or loan guarantee under the Rural Electrification Act of 1936. 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 to the unit; provides financing for the construction or operation of the unit; or leases the unit.
Who sponsors HR 5270?
HR 5270 is sponsored by Barton, Joe (Republican), Cramer, Kevin (Republican), Barr, Andy (Republican), Jenkins, Evan H. (Republican), McKinley, David B. (Republican), Gibbs, Bob (Republican), Stivers, Steve (Republican), Mooney, Alexander X. (Republican), Griffith, H. Morgan (Republican), Rogers, Harold (Republican), Cheney, Liz (Republican), Wagner, Ann (Republican), Gosar, Paul A. (Republican), Shimkus, John (Republican), Bost, Mike (Republican), Walorski, Jackie (Republican), and Bucshon, Larry (Republican).
What is the current status of HR 5270?
This bill died with 115th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 5270?
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