A bill to amend the Internal Revenue Code of 1986 to extend the publicly traded partnership ownership structure to energy power generation projects and transportation fuels, and for other purposes.
Master Limited Partnerships Parity Act - Amends the Internal Revenue Code, with respect to the tax treatment of publicly traded partnerships as corporations, to expand the definition of "qualifying income" for such partnerships to include income and gains from renewable and alternative fuels (in addition to fossil fuels), including renewable energy facilities used in the production of electricity, biodiesel, alcohol used as fuels, and renewable fuels used to reduce or replace fossil fuels present in transportation fuels.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S3841-3842)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3842)
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