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S 1516 114th Congress Senate Taxation Business investment and capital Energy efficiency and conservation Environmental technology Income tax credits Lighting and heating Lighting, heating, cooling

POWER Act

Introduced: June 4, 2015 Introduced by: Collins, Susan M. Republican · Maine See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 4, 2015
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3779-3780)
Jun 4, 2015
Introduced in Senate
 Plain-English summary Congressional Research Service

Power Efficiency and Resiliency Act or the POWER Act

Amends the Internal Revenue Code to: (1) allow a 30% energy tax credit for combined heat and power system property and increase the capacity limitations for such property, (2) extend until December 31, 2018, the placed-in-service deadline for such property, and (3) allow a 30% energy tax credit for waste heat to power property (property comprising a system generating electricity through the recovery of a qualified waste heat resource) placed in service before January 1, 2019.

Includes within the definition of "qualified waste heat resource": (1) exhaust heat or flared gas from any industrial process; (2) waste gas or industrial tail gas that would otherwise be flared, incinerated, or vented; and (3) a pressure drop in any gas for an industrial or commercial process. Excludes from such definition any heat resource from a process the primary purpose of which is the generation of electricity utilizing a fossil fuel or nuclear energy.

What's happening now June 4, 2015

Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3779-3780)

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Independent 1