,,ii #aadth ,,congress #ast ,session ,s4 #afef ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #bd1 #bjae,mr4 ,coons 7for himself1 ,mr4 ,moran1 ,ms4 ,murkowski1 ,ms4 ,stabenow1 ,ms4 ,collins1 ,mr4 ,bennet1 ,mr4 ,gardner1 and ,mr4 ,king7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to extend the publicly traded partnership ownership structure to energy power generation projects and transportation fuels1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,master ,limited ,partnerships ,parity ,act4 #b4 ,extension of publicly traded partnership ownership structure to energy power generation projects1 transportation fuels1 and related energy activities 7a7 ,in general ,subparagraph 7,e7 of section #ggjd7;d77#a7 of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 by striking income and gains derived from the exploration and inserting income and gains derived from the following3 7i7 ,minerals1 natural resources1 etc ,the exploration 1 7#b7 by inserting or before industrial source1 7#c7 by inserting a period after carbon dioxide1 and 7#d7 by striking 1 or the transportation or storage and all that follows and inserting the following3 7ii7 ,renewable energy ,the generation of electric power 7including the leasing of tangible personal property used for such generation7 exclusively utilizing any resource described in section #de7;c77#a7 or energy property described in section #dh 7determined without regard to any termination date71 or in the case of a facility described in paragraph 7#c7 or 7#g7 of section #de7;d7 7determined without regard to any placed in service date or date by which construction of the facility is required to begin71 the accepting or processing of such resource4 7iii7 ,electricity storage devices ,the receipt and sale of electric power that has been stored in a device directly connected to the grid4 7iv7 ,combined heat and power ,the generation1 storage1 or distribution of thermal energy exclusively utilizing property described in section #dh7;c77#c7 7determined without regard to subparagraphs 7,b7 and 7,d7 thereof and without regard to any placed in service date74 7v7 ,renewable thermal energy ,the generation1 storage1 or distribution of thermal energy exclusively using any resource described in section #de7;c77#a7 or energy property described in clause 7i7 or 7iii7 of section #dh7;a77#c77;,a74 7vi7 ,waste heat to power ,the use of recoverable waste energy1 as defined in section #cga7e7 of the ,energy ,policy and ,conservation ,act 7#db ,u4,s4,c4 #fcda7e77 7as in effect on the date of the enactment of the ,master ,limited ,partnerships ,parity ,act74 7vii7 ,renewable fuel infrastructure ,the storage or transportation of any fuel described in subsection 7b71 7c71 7d71 or 7e7 of section #fdbf4 7viii7 ,renewable fuels ,the production1 storage1 or transportation of any renewable fuel described in section #baa7o77#a77;,j7 of the ,clean ,air ,act 7#db ,u4,s4,c4 #gede7o77#a77;,j77 7as in effect on the date of the enactment of the ,master ,limited ,partnerships ,parity ,act7 or section #dj;,a7d77#a74 7ix7 ,renewable chemicals ,the production1 storage1 or transportation of any qualifying renewable chemical 7as defined in paragraph 7#f774 7x7 ,energy efficient buildings ,the audit and installation through contract or other agreement of any energy efficient building property described in section #agi;,d7c77#a74 7xi7 ,gasification with sequestration ,the production of any product or the generation of electric power from a project that meets the requirements of subparagraphs 7,a7 and 7,b7 of section #dh;,b7c77#a7 and that separates and sequesters in secure geological storage 7as determined under section #de,q7d77#b77 at least #ge percent of such project's total qualified carbon dioxide 7as defined in section #de,q7b774 7xii7 ,carbon capture and sequestration 7,i7 ,power generation facilities ,the generation or storage of electric power 7including associated income from the sale or marketing of energy1 capacity1 resource adequacy1 and ancillary services7 produced from any power generation facility which is1 or from any power generation unit within1 a qualified facility described in section #de,q7c7 which-- 7aa7 in the case of a power generation facility or power generation unit placed in service after ,january #h1 #bjac1 captures #ej percent or more of the qualified carbon dioxide 7as defined in section #de,q7b77 of such facility and disposes of such captured qualified carbon dioxide in secure geological storage 7as determined under section #de,q7d77#b771 and 7bb7 in the case of a power generation facility or power generation unit placed in service before ,january #i1 #bjac1 captures #cj percent or more of the qualified carbon dioxide 7as defined in section #de,q7b77 of such facility and disposes of such captured qualified carbon dioxide in secure geological storage 7as determined under section #de,q7d77#b774 7,,ii7 ,other facilities ,the sale of any good or service from any facility 7other than a power generation facility7 which is a qualified facility described in section #de,q7c7 and the captured qualified carbon dioxide 7as so defined7 of which is disposed of in secure geological storage 7as determined under section #de,q7d77#b774 4 7b7 ,renewable chemical 7#a7 ,in general ,section #ggjd7;d7 of such ,code is amended by adding at the end the following new paragraph3 7#f7 ,qualifying renewable chemical 7,a7 ,in general ,the term qualifying renewable chemical means any renewable chemical 7as defined in section #ijja of the ,agriculture ,act of #bjad7-- 7i7 which is produced by the taxpayer in the ,united ,states or in a territory or possession of the ,united ,states1 7ii7 which is the product of1 or reliant upon1 biological conversion1 thermal conversion1 or a combination of biological and thermal conversion1 of renewable biomass 7as defined in section #ijja7ab7 of the ,farm ,security and ,rural ,investment ,act of #bjjb71 7iii7 the biobased content of which is #ie percent or higher1 7iv7 which is sold or used by the taxpayer-- 7,i7 for the production of chemical products1 polymers1 plastics1 or formulated products1 or 7,,ii7 as chemicals1 polymers1 plastics1 or formulated products1 7v7 which is not sold or used for the production of any food1 feed1 or fuel1 and 7vi7 which is-- 7,i7 acetic acid1 acrylic acid1 acyl glutamate1 adipic acid1 algae oils1 algae sugars1 aromatics1 #a1d-;butanediol1 iso-butanol1 n-butanol1 carboxylic acids1 cellulosic sugar1 diethyl methylene malonate1 ethyl acetate1 farnesene1 gamma-butyrolactone1 glucaric acid1 hexamethylenediamine1 #c-;hydroxy propionic acid1 ,c#aj hydrocarbons1 isoprene1 itaconic acid1 ketals1 levulinic acid1 olefins1 polyhydroxyalkonate1 polylactic acid1 polyitaconic acid1 polyols from vegetable oils1 poly7xylitan levulinate ketal71 #a1c-propanediol1 #a1b-propanediol1 succinic acid1 terpenes1 thiols1 or p-,xylene1 or 7,,ii7 any chemical not described in clause 7i7 which is a chemical listed by the ,secretary for purposes of this paragraph4 7,b7 ,biobased content ,for purposes of subparagraph 7,a77iii71 the term biobased content percentage means1 with respect to any renewable chemical1 the biobased content of such chemical 7expressed as a percentage7 determined by testing representative samples using the ,american ,society for ,testing and ,materials 7,,astm7 ,d#fhff4 4 7#b7 ,list of other qualifying renewable chemicals ,not later than #ahj days after the date of the enactment of this ,act1 the ,secretary of the ,treasury 7or the ,secretary's delegate71 in consultation with the ,secretary of ,agriculture1 shall establish a program to consider applications from taxpayers for the listing of chemicals under section #ghgd7;d77#f77;,a77vi77,,ii7 7as added by paragraph 7#a774 7c7 ,effective date ,the amendments made by this section shall take effect on the date of the enactment of this ,act1 in taxable years ending after such date4