Bill Introduced to Extend Renewable Energy ITC, PTC for Certain Qualified Facilities

Monday, August 19, 2019 - 9:00am

Reps. Elise Stefanik, R-N.Y., and Scott Peters, D-Calif., introduced the Renewable Electricity Tax Credit Equalization Act (H.R. 4186) to extend the Internal Revenue Code (IRC) Section 45(d) production tax credit (PTC) and the election to take the IRC Section 48 investment tax credit for certain qualified renewable energy facilities, including closed-loop biomass, open-loop biomass, geothermal, municipal solid waste, qualified hydropower facilities and marine and hydrokinetic facilities that begin construction before Jan. 1, 2025. The bipartisan legislation would also eliminate the 50 percent reduction of the PTC for these technologies.