,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #cahj  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #ac1 #bjba,mr4   
,blum5au] 7= himself1 ,mr4 ,lev9 (      
,cali=nia1 ,mr4 ,bey]1 ,ms4 ,del,bene1  
,mr4 ,gomez1 ,mr4 ,hors=d1 ,mr4 ,l>son (
 ,connecticut1 ,mr4 ,panetta1 & ,ms4    
,ross7 introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to provide an elective   
paym5t = en]gy prop]ty & electricity    
produc$ f c]ta9 r5ewable res\rces1 & =  
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,r5ewable ,en]gy       
,inve/m5t ,act4  #b4 ,elective paym5t = 
en]gy prop]ty & electricity produc$ f   
c]ta9 r5ewable res\rces1 etc  7a7 ,9    
g5]al ,sub*apt] ,b ( *apt] #fe ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new section3  
#fdca4 ,elective paym5t = en]gy prop]ty 
& electricity produc$ f c]ta9 r5ewable  
res\rces1 etc  7a7 ,en]gy prop]ty ,9 !  
case ( a taxpay] mak+ an election "u ?is

 subsection 7at su* "t & 9 su* mann] z !
 ,secret>y may provide7 ) respect to any
 portion ( an applicable cr$it1 su*     
taxpay] %all be treat$ z mak+ a paym5t  
aga9/ ! tax impos$ by subtitle ,a = !   
taxable ye> equal to ! am\nt ( su*      
portion4  7b7 ,application to p>tn]%ips 
& ,s corporations  7#a7 ,9 g5]al ,9 !   
case ( any applicable cr$it det]m9$ )   
respect to any qualifi$ res\rces1       
qualifi$ facility1 or en]gy prop]ty held
 directly by a p>tn]%ip or ,s           
corporation1 if su* p>tn]%ip or ,s      
corporation makes an election "u ?is    
subsection 79 su* mann] z ! ,secret>y   
may provide7 ) respect to any portion ( 
su* cr$it-- 7,a7 ! ,secret>y %all make a
 paym5t to su* p>tn]%ip or ,s           
corporation equal to ! am\nt ( su*      
portion1  7,b7 subsection 7e77#a7 %all  
be appli$ ) respect to su* cr$it be=e   
det]m9+ any p>tn]'s di/ributive %>e1 or 
%>ehold]'s pro rata %>e1 ( su* cr$it1 & 
7,c7 any am\nt exclud$ f gross income by
 reason ( subsection 7e77#b7 %all be    

treat$ z tax exempt income = purposes ( 
sections #gje & #acff4  7#b7            
,coord9ation ) application at p>tn] or  
%>ehold] level ,9 ! case ( any p>tn]%ip 
or ,s corporation1 subsection 7a7 %all  
be appli$ at ! p>tn] or %>ehold] level  
aft] application ( p>agraph 7#a77;,b74  
7#c7 ,irrevocable election ,any election
 "u ?is subsection %all be made n lat]  
?an ! due date 7includ+ ext5sions ( "t7 
= ! p>tn]%ip or ,s corporation return = 
! taxable ye> = :i* ! applicable cr$it  
is det]m9$4 ,any su* election1 once     
made1 %all be irrevocable4  7c7         
,application to gov]nm5tal entities ,9 !
 case ( an election "u ?is section--    
7#a7 any ,/ate or local gov]nm5t1 or a  
political subdivision !re(1 or  7#b7 an 
,indian tribal gov]nm5t 7)9 ! mean+ (   
section #aci;,e71  %all n fail to be    
treat$ z a taxpay] = purposes ( ?is     
section & det]m9+ any applicable cr$it4 
7d7 ,applicable cr$it ,= purposes ( ?is 
section1 ! t]m applicable cr$it means   
ea* ( ! foll[+ cr$its det]m9$ ) respect 

to ! taxpay]3 7#a7 ,! en]gy cr$it "u    
section #dh4  7#b7 ,! r5ewable          
electricity production cr$it "u section 
#de4  7e7 ,special rules  7#a7 ,d5ial ( 
d\ble b5efit ,solely = purposes (       
section #ch1 9 ! case ( a taxpay] mak+  
an election "u ?is section ) respect to 
any applicable cr$it1 su* cr$it %all be 
r$uc$ by ! am\nt ( ! portion ( su* cr$it
 ) respect to :i* ! taxpay] makes su*   
election4  7#b7 ,exclusion f gross      
income ,gross income ( ! taxpay] %all be
 det]m9$ )\t reg>d to ?is section4  7#c7
 ,tim+ ( deem$ paym5t ,! paym5t describ$
 9 subsection 7a7 %all be treat$ z made 
on-- 7,a7 9 ! case ( any gov]nm5t1 or   
political subdivision1 to :i* p>agraph  
7#a7 applies & = :i* no return is       
requir$ "u section #fjaa or #fjcc7;a71 !
 lat] ( ! date t a return w\ld be due "u
 section #fjcc7;a7 if su* gov]nm5t or   
subdivision 7 describ$ 9 t section or ! 
date on :i* su* gov]nm5t or subdivision 
submits a claim = cr$it or refund 7at   
su* "t & 9 su* mann] z ! ,secret>y %all 

provide71 &  7,b7 9 any o!r case1 ! lat]
 ( ! due date ( ! return ( tax = !      
taxable ye> or ! date on :i* su* return 
is fil$4  7#d7 ,waiv] ( special rules ,9
 ! case ( an election "u ?is section1 ! 
det]m9ation ( any applicable cr$it %all 
be )\t reg>d to p>agraphs 7#c7 &        
7#d77;,a77i7 ( section #ej7;b74  7#e7   
,treatm5t ( paym5ts to p>tn]%ips & ,s   
corporations ,= purposes ( section #acbd
 ( title #ca1 ,unit$ ,/ates ,code1 !    
paym5ts "u subsection 7b77#a77;,b7 %all 
be treat$ 9 ! same mann] z a refund due 
f a cr$it provision ref]r$ to 9         
subsection 7b77#b7 ( su* section4  7f7  
,regulations ,! ,secret>y %all issue su*
 regulations or o!r guidance z may be   
necess>y or appropriate to c>ry out !   
purposes ( ?is section1 includ+         
regulations or o!r guidance provid+     
rules = det]m9+ a p>tn]'s di/ributive   
%>e ( ! tax exempt income describ$ 9    
subsection 7b77#a77;,c74  4  7b7        
,cl]ical am5dm5t ,! table ( sections =  
sub*apt] ,b ( *apt] #fe ( su* ,code is  

am5d$ by add+ at ! end ! foll[+ new     
item3  ,sec4 #fdca4 ,elective paym5t =  
en]gy prop]ty & electricity produc$ f   
c]ta9 r5ewable res\rces1 etc4  4  7c7   
,effective date ,! am5dm5ts made by ?is 
section %all apply to prop]ty orig9ally 
plac$ 9 s]vice aft] ! date ( ! enactm5t 
( ?is ,act4