Bill Summary
The Clean Energy Production Parity Act of 2019 is a bill that proposes an amendment to the Internal Revenue Code of 1986 in order to provide tax credits for fuel cells that use electromechanical processes. The bill aims to promote the use of clean energy by making it eligible for the energy tax credit. The bill also specifies that the amendment would apply to periods after the date of its enactment and would follow similar rules as the Internal Revenue Code of 1986. Overall, this legislation encourages the use of clean energy and provides financial incentives for doing so.
Possible Impacts
1. Individuals who use fuel cells for their energy needs may be eligible for an energy tax credit, potentially saving them money on their taxes.
2. Companies that manufacture or use fuel cells using electromechanical processes may see an increase in demand and profits due to the tax credit, impacting their bottom line.
3. The amendment may incentivize the development and use of more efficient and eco-friendly energy sources, leading to a positive impact on the environment and public health.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2040 Introduced in House (IH)]
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116th CONGRESS
1st Session
H. R. 2040
To amend the Internal Revenue Code of 1986 to make fuel cells using
electromechanical processes eligible for the energy tax credit.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 2, 2019
Mr. Panetta (for himself, Mr. Stivers, Ms. Eshoo, Mr. Wenstrup, Ms.
Speier, and Mrs. Walorski) introduced the following bill; which was
referred to the Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to make fuel cells using
electromechanical processes eligible for the energy tax credit.
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 ``Clean Energy Production Parity Act
of 2019''.
SEC. 2. FUEL CELLS USING ELECTROMECHANICAL PROCESSES MADE ELIGIBLE FOR
THE ENERGY TAX CREDIT.
(a) In General.--Section 48(c)(1) of the Internal Revenue Code of
1986 is amended--
(1) in subparagraph (A)(i), by inserting ``or
electromechanical'' after ``electrochemical'', and
(2) in subparagraph (C)--
(A) by inserting ``, or linear generator
assembly,'' after ``a fuel cell stack assembly'', and
(B) by inserting ``or electromechanical'' after
``electrochemical''.
(b) Effective Date.--The amendments made by this section shall
apply to periods after the date of the enactment of this Act under
rules similar to the rules of section 48(m) of the Internal Revenue
Code of 1986 (as in effect on the day before the date of the enactment
of the Revenue Reconciliation Act of 1990).
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