,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #bigb  ,,in ,,the ,,house ,,of  
,,representatives  ,august #a1 #bjac    
,mr4 ,tonko introduced the following    
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to provide tax          
incentives for producing electricity    
from wasted heat4  #a4 ,short title     
,this ,act may be cited as the ,heat is 
,power ,act4  #b4 ,energy credit for    
wasted heat to electricity property  7a7
 ,in general ,subparagraph 7,a7 of      
section #dh7;a77#c7 of the ,internal    
,revenue ,code of #aihf is amended by   
striking or at the end of clause 7vi71  
by inserting or at the end of clause    
7vii71 and by adding at the end the     
following new clause3  7viii7 wasted    
heat to electricity property1  4  7b7   
,wasted heat to electricity property    
,subsection 7c7 of section #dh of such  
,code is amended by adding at the end   
the following new paragraph3  7#e7      

,wasted heat to electricity property    
7,a7 ,wasted heat to electricity        
property ,the term wasted heat to       
electricity property means property     
comprising a system which generates     
electricity through the recovery of a   
qualified wasted heat resource4  7,b7   
,qualified wasted heat resource defined 
,the term qualified wasted heat resource
 means--  7i7 exhaust heat or flared gas
 from any industrial process1  7ii7     
waste gas or industrial tail gas that   
would otherwise be flared1 incinerated1 
or vented1  7iii7 a pressure drop in any
 gas1 excluding any pressure drop to a  
condenser that subvents the resulting   
head1 or  7iv7 such other forms of      
wasted heat resources as the ,secretary 
may determine4  7,c7 ,exception ,the    
term qualified wasted heat resource does
 not include any heat resource from a   
process whose primary purpose is the    
generation of electricity utilizing a   
fossil fuel4  4  7c7 ,temporarily       
#cj-,percent energy property ,clause 7i7

 of section #dh7;a77#b77;,a7 of such    
,code is amended by striking and at the 
end of subclause 7,,iii7 and by adding  
at the end the following new subclause3 
7,v7 energy property described in       
7#c77;,a77viii71 but only with respect  
to periods ending before ,january #a1   
#bjah1 and  4  7d7 ,effective date ,the 
amendments made by this section shall   
apply to property placed in service     
after the date of the enactment of this 
,act4  #c4 ,production credit for       
electricity produced from wasted heat   
7a7 ,in general ,paragraph 7#a7 of      
section #de7;c7 of the ,internal        
,revenue ,code of #aihf is amended by   
striking and at the end of subparagraph 
7,h71 by striking the period at the end 
of subparagraph 7,i7 and inserting 1    
and1 and by adding at the end the       
following new subparagraph3  7,j7 wasted
 heat4  4  7b7 ,wasted heat ,subsection 
7c7 of section #de of such ,code is     
amended by adding at the end the        
following new paragraph3  7#aa7 ,wasted 

heat ,the term wasted heat means a      
qualified wasted heat resource 7as      
defined by section #dh7;c77#e774  4  7c7
 ,definition of facility ,subsection 7d7
 of section #de of such ,code is amended
 by adding at the end the following new 
paragraph3  7#ab7 ,wasted heat facility 
,in the case of a facility using wasted 
heat to produce electricity1 the term   
qualified facility means any facility   
owned by the taxpayer which is          
originally placed in service before     
,january #a1 #bjah4  4  7d7 ,credit rate
 ,subparagraph 7,a7 of section          
#de7;b77#d7 of such ,code is amended by 
striking or 7#aa7 and inserting 7#aa71  
or 7#ab74  7e7 ,effective date ,the     
amendments made by this section shall   
apply to property placed in service     
after the date of the enactment of this 
,act4