HR 7070
To amend the Internal Revenue Code of 1986 to extend the credit period for the production of refined coal, and for other purposes.
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill extends the period during which businesses can claim a tax credit for producing refined coal. Specifically, it changes the existing 10-year credit period to extend it until January 1, 2033. The bill also includes some technical adjustments to related sections of the Internal Revenue Code. These changes are designed to support the continued production of refined coal.
Key provisions
- Extends the credit period for refined coal production from 10 years to before January 1, 2033.
- Modifies Section 45(e)(8)(A) of the Internal Revenue Code.
- Updates Section 45(e)(8)(D) of the Internal Revenue Code.
- Includes a conforming amendment to Section 45(d)(8)(A) regarding steel industry fuel.
Who is affected
- Refined coal producers
- Businesses involved in coal production
- Taxpayers
Notable changes
- Changes the length of time businesses can receive the refined coal production tax credit.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsor
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.
119th CONGRESS — 2d Session
H. R. 7070
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Internal Revenue Code of 1986 to extend the credit period for the production of refined coal, and for other purposes.
in clause (i), by striking during the 10-year period beginning on the date the facility was originally placed in service
and inserting before January 1, 2033
, and
in clause (ii), by amending subclause (II) to read as follows:
Section 45(e)(8)(D) of such Code is amended—
by striking subclause (II), and
by redesignating subclause (III) as subclause (II),
by striking clause (iii), and
by redesignating clause (iv) as clause (iii).
Section 45(d)(8)(A) of such Code is amended by inserting which allows such facility to produce steel industry fuel
after any modification to a facility
.
The amendments made by this section shall apply to refined coal produced and sold after December 31, 2025.