Renewable Energy Parity Act

Renewable Energy Parity Act - Amends the Internal Revenue Code to eliminate after 2010 the reduction in the rate of the tax credit for electricity produced from open-loop biomass, small irrigation power, landfill gas, trash combustion, and hydropower facilities (thus allowing the same credit rate for all renewable resource facilities).

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2626 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 2626

To amend the Internal Revenue Code of 1986 to provide tax credit parity 
           for electricity produced from renewable resources.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 21, 2009

    Mr. Meek of Florida (for himself and Mr. Herger) 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 provide tax credit parity 
           for electricity produced from renewable resources.

    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 ``Renewable Energy Parity Act''.

SEC. 2. TAX CREDIT PARITY FOR ELECTRICITY PRODUCED FROM RENEWABLE 
              RESOURCES.

    (a) In General.--Subparagraph (A) of section 45(b)(4) of the 
Internal Revenue Code of 1986 is amended by inserting ``and before 
2010'' after ``any calendar year after 2003''.
    (b) Effective Date.--The amendment made by this section shall apply 
to electricity produced and sold after December 31, 2009.
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