S 628 116th Congress Senate Taxation Alternative and renewable resources Business investment and capital Energy efficiency and conservation Income tax credits Lighting, heating, cooling Residential rehabilitation and home repair

BTU Act of 2019

Introduced: February 28, 2019 Introduced by: King, Angus S., Jr. Independent · Maine See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 28, 2019

Read twice and referred to the Committee on Finance.

Feb 28, 2019

Introduced in Senate

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Plain-English summary Congressional Research Service

Biomass Thermal Utilization Act of 2019 or the BTU Act of 2019

This bill expands the tax credit for residential energy efficient property to include 30% of qualified biomass fuel property expenditures for property placed in service before 2024. A qualified biomass fuel property expenditure is an expenditure for property that uses the burning of biomass fuel (a plant-derived fuel available on a renewable or recurring basis) to heat a dwelling used as a residence, or to heat water for use in such dwelling, and which has a thermal efficiency rating of at least 75%.

The bill also allows (1) a 15% energy tax credit until 2024 for investment in open-loop biomass heating property, including boilers or furnaces that operate at thermal output efficiencies of at least 65% and provide thermal energy in the form of heat, hot water, or steam for space heating, air conditioning, domestic hot water, or industrial process heat; and (2) a 30% credit until 2024 for investment in such property that operates at a thermal output efficiency of at least 80%.

What's happening now February 28, 2019

Read twice and referred to the Committee on Finance.

Related & companion bills 1

Bill text 1 version