,,ii #aaeth ,,congress #b;d ,session ,s4 #bfgg ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,april #af1 #bjah,mrs4 ,capito 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 allow a credit against tax for coal-powered electric generation units4 #a4 ,short title ,this ,act may be cited as the ,electricity ,reliability and ,fuel ,security ,act4 #b4 ,coal-powered electric generation unit credit 7a7 ,federal tax credit for coal-,powered electric generation units ,subpart ,d of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new section3 #de,t4 ,coal-powered electric generation unit credit 7a7 ,in general ,for purposes of section #ch1 in the case of a taxpayer who owns or leases a coal-powered electric generation unit1 the coal-powered electric generation unit credit determined under this section for a taxable year shall be an amount equal to the lesser of #cj percent of qualified expenses paid or incurred by such taxpayer in such year or the product of-- 7#a7 #ac1 multiplied by 7#b7 the nameplate capacity rating in kilowatts of such unit4 7b7 ,coal-,powered electric generation unit ,for purposes of this section1 the term coal-powered electric generation unit means an electric generation unit 7as defined in section #dh;,a7c77#f77 that uses coal to produce not less than #ge percent of the electricity produced by such unit4 7c7 ,qualified expenses ,for purposes of this section1 the term qualified expenses means amounts paid or incurred for the operation or maintenance of a coal-powered electric generation unit1 other than amounts paid or incurred for coal4 7d7 ,transfer of credit 7#a7 ,in general ,with respect to a credit under subsection 7a7 for any taxable year1 a taxpayer may elect to transfer all or any portion of such credit to any eligible project partner as specified in such election and such eligible project partner1 not the taxpayer1 shall be entitled to claim the credit for such taxable year4 7#b7 ,election to transfer ,the taxpayer may elect to transfer all or any portion of the credit to an eligible project partner by attaching a statement to the taxpayer's tax return for the taxable year in which the qualified expenses were paid or incurred1 providing such information as is necessary for the ,secretary to adequately identify the eligible project partner and the amount of the credit being transferred4 7#c7 ,application to qualified public entities 7,a7 ,in general ,for purposes of this subsection1 the term taxpayer shall include a qualified public entity4 7,b7 ,qualified public entity ,the term qualified public entity means-- 7i7 a ,federal1 ,state1 or local government entity1 or any political subdivision1 agency1 or instrumentality thereof1 7ii7 a mutual or cooperative electric company described in section #eja7;c77#ab7 or #acha7;a77#b71 or 7iii7 a not-for-profit electric utility which had or has received a loan or loan guarantee under the ,rural ,electrification ,act of #aicf4 7#d7 ,eligible project partner ,with respect to coal-powered electric generation unit1 the term eligible project partner means any person who-- 7,a7 is responsible for operating1 maintaining1 or repairing such unit1 7,b7 participates in the provision1 including transportation1 of coal or other materials and supplies to such unit1 7,c7 provides financing for the construction1 expansion1 repair1 or operation of such unit1 or 7,d7 leases such unit4 7#e7 ,special rules 7,a7 ,application to partnerships ,in the case of a credit under subsection 7a7 which is determined at the partnership level1 the term eligible project partner shall include any partner of the partnership4 7,b7 ,taxable year in which credit taken into account ,in the case of any credit 7or portion thereof7 with respect to which an election is made under paragraph 7#b71 such credit shall be taken into account in the first taxable year of the eligible project partner ending with1 or after1 the taxpayer's taxable year with respect to which the credit was determined4 7,c7 ,treatment of transfer under private use rules ,for purposes of section #ada7;b77#a71 any benefit derived by an eligible project partner in connection with an election under this subsection shall not be taken into account as a private business use4 7e7 ,basis adjustment ,for purposes of this subtitle1 if a credit is allowed under this section with respect to any coal-powered electric generation unit1 the basis1 if any1 of such property shall be reduced by the amount of the credit so allowed4 7f7 ,termination ,this section shall apply to taxable years beginning after ,december #ca1 #bjag1 and ending before ,january #a1 #bjbc4 4 7b7 ,conforming amendment ,section #eja7;c77#ab77;,i7 is amended by inserting or #de,t7d77#a7 after section #de;,j7e77,i74 7c7 ,credit ,to be part of general business credit 7#a7 ,in general ,section #ch7;b7 of the ,internal ,revenue ,code of #aihf is amended by striking plus at the end of paragraph 7#cf71 by striking the period at the end of paragraph 7#cg7 and inserting 1 plus1 and by adding at the end the following new paragraph3 7#ch7 the coal-powered electric generation unit credit determined under section #de,t7a74 4 7#b7 ,credit allowed against alternative minimum tax ,subparagraph 7,b7 of section #ch7;c77#d7 of the ,internal ,revenue ,code of #aihf is amended-- 7,a7 by redesignating clauses 7x71 7xi71 and 7xii7 as clauses 7xi71 7xii71 and 7xiii71 respectively2 and 7,b7 by inserting after clause 7ix7 the following new clause3 7x7 the credit determined under section #de,t1 4 7d7 ,clerical amendment ,the table of sections for subpart ,d of part ,,iv of subchapter ,a of chapter #a is amended by adding at the end the following new item3 ,sec4 #de,t4 ,coal-powered electric generation unit credit4 4