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S 2677 115th Congress Senate Taxation Coal Electric power generation and transmission Income tax credits Public utilities and utility rates

Electricity Reliability and Fuel Security Act

Introduced: April 16, 2018 Introduced by: Capito, Shelley Moore Republican · West Virginia 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
Apr 16, 2018
Read twice and referred to the Committee on Finance.
Apr 16, 2018
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

Taxpayers and certain public entities 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.
What's happening now April 16, 2018

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1