Bill Summary
This legislation, known as the "Linear Generator Parity Act", seeks to amend the Internal Revenue Code of 1986 to include fuel cells that use electromechanical processes in the definition of the energy tax credit. This means that fuel cells using both electrochemical and electromechanical means, without the use of rotating parts, will be eligible for the tax credit. The effective date for this change will be for any property placed in service after the act is enacted.
Possible Impacts
1. Individuals who own or plan to purchase fuel cells using electromechanical processes may be eligible for tax credits under this legislation. This could potentially save them money on their taxes and make the technology more affordable for regular people.
2. Companies that manufacture and sell fuel cells using electromechanical processes may see an increase in demand for their products as more people become aware of the tax credits available.
3. This legislation may incentivize research and development in the area of electromechanical processes for fuel cells, leading to potential advancements and improvements in the technology that could benefit people in the future.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 329 Introduced in Senate (IS)]
<DOC>
116th CONGRESS
1st Session
S. 329
To amend the Internal Revenue Code of 1986 to include fuel cells using
electromechanical processes for purposes of the energy tax credit.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 5, 2019
Mr. Portman (for himself and Mr. Brown) 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 include fuel cells using
electromechanical processes for purposes of 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 ``Linear Generator Parity Act''.
SEC. 2. INCLUDING FUEL CELLS USING ELECTROMECHANICAL PROCESSES FOR
PURPOSES OF THE ENERGY TAX CREDIT.
(a) In General.--Paragraph (1) of section 48(c) 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 striking ``electrochemical means'' and
inserting ``electrochemical or electromechanical means
without the use of rotating parts''.
(b) Effective Date.--The amendments made by this section shall
apply to property placed in service after the date of the enactment of
this Act.
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