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Code · BILL · 117th Congress · H.R. 4720 (Introduced in House) — To amend the Internal Revenue Code of 1986 to provide investment and production tax credits for emerging energy techn... · Sec. 6

Sec. 6. Report on additional energy production technology

543 words·~2 min read·/bill/117/hr/4720/ih/section-6

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Not later than 1 year after the date of enactment of this Act, and every 5 years thereafter, the Secretary of Energy (referred to in this section as the Secretary ) shall submit a report to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate which— identifies new and emerging energy production technologies which— have less than 2 percent market penetration level (as defined in subsection (b)(2)(B) of section 45U of the Internal Revenue Code of 1986 (as added by section 4 of this Act)); and the Secretary recommends should be added to subsection (d)(2)(A) of such section as an individual energy production technology; includes legislative language to carry out the recommendations described in paragraph (1)(B); and considers petitions and comments submitted under subsection (b).
Not later than 24 months after the date of enactment of this Act, the Secretary shall publish in the Federal Register and on a publicly available internet website of the Department of Energy a notice requesting members of the public to submit to the Department of Energy during the 60-day period beginning on the date of such publication petitions for inclusion of any technology used for the production of electricity as an individual energy production technology under subsection (d)(2) of section 45U of the Internal Revenue Code of 1986 (as added by section 4 of this Act).
Each petition described in paragraph
(1)shall include the following information: The name and address of the petitioner. A description of the technology used for the production of electricity. A certification as to whether such technology satisfies the requirements under subsection (d)(1)(C) of section 45U of the Internal Revenue Code of 1986. Such other information as the Secretary may require. The Secretary shall prescribe and publish in the Federal Register and on a publicly available internet website of the Department of Energy procedures to be complied with by members of the public submitting petitions for inclusion under paragraph (1). As soon as practicable, the Secretary shall publish on a publicly available internet website of the Department of Energy the petitions for inclusions submitted under paragraph
(1)of subsection
(b)that contain the information required under paragraph
(2)of such subsection. The Secretary shall publish in the Federal Register and on a publicly available internet website of the Department of Energy a notice requesting members of the public to submit to the Department of Energy comments on the petitions for inclusion published by the Department of Energy under paragraph (1). The Secretary shall publish a notice in the Federal Register directing members of the public to a publicly available internet website of the Department of Energy to view the comments of the members of the public received under subparagraph (A). It is the sense of Congress that, to incentivize innovation in energy generation technologies and to promote the reliability of and performance improvements in the United States energy sector, Congress should, not later than 90 days after the Secretary submits any report under subsection (a), consider a bill to add any technology used for the production of electricity which is included in such report to the list of individual energy production technologies under section 45U(d)(2) of the Internal Revenue Code of 1986.
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