H.R. 1557 - Sunshine Forever Act

117TH CONGRESS
1ST SESSION

H.R. 1557

To amend the Internal Revenue Code of 1986
to extend certain credits related to solar energy.

IN THE HOUSE OF REPRESENTATIVES

MARCH 3, 2021

Mr. CRIST introduced the following bill;
which was referred to the Committee on _____

A BILL

To amend the Internal Revenue Code of 1986 to extend certain credits related to solar energy.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the "Sunshine Forever Act".

SEC. 2. EXTENSION OF SOLAR ENERGY CREDIT.

(a) IN GENERAL. — Section 48(a)(2)(A)(i)(II) of the Internal Revenue Code of 1986 is amended by striking "January 1, 2024" and inserting "January 1, 2035".

(b) REPEAL OF PHASEOUT. — Section 48(a) of such Code is amended by striking paragraph (6).

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to property the construction of which begins after December 31, 2020.

SEC. 3. EXTENSION OF CREDITS WITH RESPECT TO QUALIFIED SOLAR ELECTRIC PROPERTY AND QUALIFIED SOLAR WATER HEATING PROPERTY.

(a) IN GENERAL. — Section 25D(h) of the Internal Revenue Code of 1986 is amended by inserting "(December 31, 2034, in the case of any qualified solar electric property expenditures and qualified solar water heating property expenditures)" before the period at the end.

(b) PHASEOUT NOT APPLICABLE. — Section 25D(g) of such Code is amended by inserting "in the case of any expenditure other than any qualified solar electric property expenditure or qualified solar water heating property expenditure," after "For purposes of subsection (a),".

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to property placed in service after December 31, 2020.