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
This bill 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 (known as master limited partnerships) to include income and gains from renewable and alternative energy generation projects (in addition to fossil fuel-based energy generation projects) and related infrastructure for transportation or storage, including energy derived from thermal resources, waste, renewable fuels and chemicals, energy efficient buildings, gasification, and carbon capture in secure geological storage.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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