,,ii  #aafth ,,congress  #ast ,session  
,s4 #bbhc  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #be1     
#bjai ,mr4 ,carper 7for himself and ,mr4
 ,cardin7 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 provide an investment tax   
credit for waste heat to power          
technology4  #a4 ,short title ,this ,act
 may be cited as the ,waste ,heat to    
,power ,investment ,tax ,credit ,act4   
#b4 ,investment credit for waste heat to
 power property  7a7 ,in general        
,section #dh7;a77#c77;,a7 of the        
,internal ,revenue ,code of #aihf is    
amended--  7#a7 at the end of clause    
7vi71 by striking or2  7#b7 at the end  
of clause 7vii71 by inserting or after  
the comma2 and  7#c7 by adding at the   
end the following3  7viii7 waste heat to
 power property1  4  7b7 ,definitions   
and limitations ,section #dh7;c7 of the 
,internal ,revenue ,code of #aihf is    

amended by adding at the end the        
following3  7#e7 ,waste heat to power   
property  7,a7 ,in general ,the term    
waste heat to power property means      
property--  7i7 comprising a system     
which generates electricity through the 
recovery of a qualified waste heat      
resource1 and  7ii7 the construction of 
which begins before ,january #a1 #bjbg4 
7,b7 ,qualified waste heat resource ,the
 term qualified waste heat resource     
means--  7i7 exhaust heat or flared gas 
from an industrial process that does not
 have1 as its primary purpose1 the      
production of electricity1 and  7ii7 a  
pressure drop in any gas for an         
industrial or commercial process4  7,c7 
,limitations  7i7 ,in general ,for      
purposes of subsection 7a77#a71 the     
basis of any waste heat to power        
property taken into account under this  
section shall not exceed the excess of--
  7,i7 the basis of such property1 over 
7,,ii7 the fair market value of         
comparable property which does not have 

the capacity to capture and convert a   
qualified waste heat resource to        
electricity4  7ii7 ,capacity limitation 
,the term waste heat to power property  
shall not include any property          
comprising a system if such system has a
 capacity in excess of #ej megawatts4  4
  7c7 ,effective date ,the amendments   
made by this section shall apply to     
periods after the date of enactment of  
this ,act1 in taxable years ending after
 such date1 under rules similar to the  
rules of section #dh7m7 of the ,internal
 ,revenue ,code of #aihf 7as in effect  
on the day before the date of the       
enactment of the ,revenue               
,reconciliation ,act of #aiij74