S. 2373 - Would Extend Coal Production Credit

115TH CONGRESS
2D SESSION

S. 2373

To amend the Internal Revenue Code of 1986 to extend
the credit for production of refined coal.

IN THE SENATE OF THE UNITED STATES

FEBRUARY 5, 2018

Mr. HOEVEN (for himself and Ms. HEITKAMP) introduced
the following bill; which was read twice and referred
to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to extend the credit for production of refined coal.

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

SECTION 1. EXTENSION OF REFINED COAL PRODUCTION TAX CREDIT.

(a) EXTENSION OF PERIOD DURING WHICH REFINED COAL CAN BE PRODUCED. — Section 45(e)(8) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

"(E) EXTENSION OF CREDIT PERIOD FOR CERTAIN REFINED COAL FACILITIES. — In the case of a refined coal production facility which does not produce steel industry fuel and which is placed in service before January 1, 2012, clauses (i) and (ii)(II) of subparagraph (A) shall each be applied by substituting '20-year period' for '10-year period'.".

(b) EXTENSION OF PERIOD DURING WHICH REFINED COAL FACILITIES CAN BE QUALIFIED. — Subparagraph (B) of section 45(d)(8) of the Internal Revenue Code of 1986 is amended —

(1) by striking "placed in service after" and inserting "placed in service —

"(i) after";

(2) by striking the period at the end and inserting ", or"; and

(3) by adding at the end the following new clause:

"(ii) after December 31, 2017, and before January 1, 2021.".

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to coal produced and sold after the date of the enactment of this Act, in taxable years ending after date.