HR 1901 114th Congress House Taxation Alternative and renewable resources Corporate finance and management Electric power generation and transmission Income tax credits Income tax rates

PTC Elimination Act

Introduced: April 21, 2015 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 30, 2015

Sponsor introductory remarks on measure. (CR H2671)

Apr 21, 2015

Referred to the House Committee on Ways and Means.

Apr 21, 2015

Introduced in House

Plain-English summary Congressional Research Service

PTC Elimination Act

This bill amends the Internal Revenue Code to phase out and eventually eliminate the tax credit for production of electricity from renewable resources. The bill repeals the inflation adjustment for current recipients of the tax credit and modifies the "beginning of construction" requirement to require that construction of an eligible project is continuous and makes significant progress. The credit is repealed in its entirety after December 31, 2025.

The bill expresses the sense of Congress that the credit should be allowed to expire and should not be extended beyond its expiration date.

The bill also reduces the corporate income tax by an applicable percentage based on increases in revenues resulting from this bill.

What's happening now April 30, 2015

Sponsor introductory remarks on measure. (CR H2671)

Committees of jurisdiction 1