,i #aai? ,,congress #a/ ,session ,h4 ,r4 #bafj ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,m>* #ad1 #bjbe,mr4 ,smi? ( ,nebraska 7= himself1 ,ms4 ,del,bene1 ,mr4 ,fitzpatrick1 ,ms4 ,s*ri]1 ,ms4 ,t5ney1 & ,ms4 ,goodl&]7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to support upgrades at exi/+ hydroelectric dams 9 ord] to increase clean en]gy production1 improve ! resili5cy & reliability ( ! ,unit$ ,/ates electric grid1 enhance ! heal? ( ! ,nation's riv]s & associat$ wildlife habitats1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,ma9ta9+ & ,enhanc+ ,hydroelectricity & ,riv] ,re/oration ,act4 #b4 ,cr$it = ma9ta9+ & enhanc+ hydroelectric facilities 7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] section #dh;,e ! foll[+ new section3 #dh;,f4 ,cr$it = ma9ta9+ & enhanc+ hydroelectric facilities 7a7 ,9 g5]al ,= purposes ( section #df1 ! cr$it = ma9ta9+ & enhanc+ hydroelectric facilities = any taxable ye> is an am\nt equal to #cj p]c5t ( ! basis ( any hydrop[] improvem5t prop]ty plac$ 9 s]vice dur+ su* taxable ye>4 7b7 ,c]ta9 progress exp5diture rules made applicable ,rules simil> to ! rules ( subsections 7c77#d7 & 7d7 ( section #df 7z 9 effect on ! day be=e ! date ( ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij7 %all apply = purposes ( subsection 7a74 7c7 ,hydrop[] improvem5t prop]ty ,9 ?is section1 ! t]m hydrop[] improvem5t prop]ty means prop]ty-- 7#a7 :i*-- 7,a7 adds or improves fi% passage at a qualifi$ dam1 7,b7 ma9ta9s or improves ! quality ( ! wat] reta9$ or releas$ by a qualifi$ dam1 7,c7 promotes d[n/ream s$im5t transport processes & habitat ma9t5ance ) respect to a qualifi$ dam1 7,d7 upgrades1 repairs1 or recon/ructs a qualifi$ dam to meet ,f$]al dam safety & security /&>ds1 7,e7 improves ! public uses (1 & access to1 public wat]ways impact$ by a qualifi$ dam 9 a mann] consi/5t ) a lic5se issu$ by ! ,f$]al ,en]gy ,regulatory ,commission or a settlem5t agreem5t relat$ to su* a lic5se1 7,f7 removes an obsolete riv] ob/ruction1 or 7,g7 places into s]vice an approv$ remote dam1 & 7#b7 = :i*1 prior to ,janu>y #a1 #bjcb1 ! taxpay] receives writt5 approval ) respect to any prop]ty describ$ 9 p>agraph 7#a7 f ! ,f$]al ,en]gy ,regulatory ,commission or ,/ate or local (ficials1 z appropriate4 7d7 ,o!r def9itions ,9 ?is section-- 7#a7 ,approv$ remote dam ,! t]m approv$ remote dam means-- 7,a7 a hydroelectric dam :i*-- 7i7 exclusively s]vices communities n int]connect$ to ! ,electric ,reliability ,c\ncil ( ,texas1 ! ,ea/]n ,int]connection1 or ! ,we/]n ,int]connection1 7ii7 0 lic5s$ by ! ,f$]al ,en]gy ,regulatory ,commission be=e ,decemb] #ca1 #bjbj1 7iii7 does n contribute to atmosph]e pollution1 & 7iv7 has a maximum net output ( n great] ?an #bj megawatts1 & 7,b7 any int]connection prop]ty associat$ ) a dam describ$ 9 subp>agraph 7,a74 7#b7 ,fi% passage ,! t]m fi% passage means1 ) respect to any qualifi$ dam1 any new or upgrad$ turb9e1 fi%way1 or o!r fi% passage te*nology :i* improves fi% migration & survival rates4 7#c7 ,int]connection prop]ty ,! t]m int]connection prop]ty means1 ) respect to any dam describ$ 9 p>agraph 7#a77;,a71 any tangible prop]ty-- 7,a7 to enable ! deliv]y ( electricity f su* dam to any cu/om]1 & 7,b7 :i* satisfies ! requirem5ts "u clauses 7ii7 & 7iii7 ( section #dh7;a77#h77;,b74 7#d7 ,obsolete riv] ob/ruction ,! t]m obsolete riv] ob/ruction means a qualifi$ nonp[]$ dam 7z def9$ 9 section #cd7;e77#c7 ( ! ,f$]al ,p[] ,act 7#af ,u4,s4,c4 #hbc;e7e77#c777 no long] s]v+ its int5d$ purpose4 7#e7 ,qualifi$ dam ,! t]m qualifi$ dam means a hydroelectric dam t is lic5s$ by ! ,f$]al ,en]gy ,regulatory ,commission or legally op]at+ )\t su* a lic5se be=e ! date ( enactm5t ( ?is section4 4 7b7 ,elective paym5t & transf] ( cr$it 7#a7 ,elective paym5t ,section #fdag ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7,a7 9 subsection 7b71 by add+ at ! end ! foll[+3 7#ac7 ,! cr$it = ma9ta9+ & enhanc+ hydroelectric facilities "u section #dh;,f4 1 & 7,b7 9 subsection 7d77#a7-- 7i7 9 subp>agraph 7,e71 by /rik+ 7,c71 or 7,d7 ea* place x appe>s & ins]t+ 7,c71 7,d71 or 7,e71 7ii7 by r$esignat+ subp>agraph 7,e7 7z am5d$ by clause 7i77 z subp>agraph 7,f71 & 7iii7 by ins]t+ aft] subp>agraph 7,d7 ! foll[+3 7,e7 ,election ) respect to cr$it = ma9ta9+ & enhanc+ hydroelectric facilities ,if a taxpay] o!r ?an an entity describ$ 9 subp>agraph 7,a7 makes an election "u ?is subp>agraph ) respect to any taxable ye> 9 :i* su* taxpay] has1 aft] ,decemb] #ca1 #bjbb1 plac$ 9 s]vice hydrop[] improvem5t prop]ty 7z def9$ 9 section #dh;,f7c771 su* taxpay] %all be treat$ z an applicable entity = purposes ( ?is section = su* taxable ye>1 b only ) respect to ! cr$it describ$ 9 subsection 7b77#ac74 4 7#b7 ,transf] ,section #fdah7;f77#a77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+3 7xii7 ,! cr$it = ma9ta9+ & enhanc+ hydroelectric facilities "u section #dh;,f4 4 7c7 ,con=m+ am5dm5ts 7#a7 ,section #df ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7,a7 9 p>agraph 7#f71 by /rik+ & at ! end1 7,b7 9 p>agraph 7#g71 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & 7,c7 by add+ at ! end ! foll[+3 7#h7 ! cr$it = ma9ta9+ & enhanc+ hydroelectric facilities4 4 7#b7 ,section #di7;a77#a77;,c7 ( su* ,code is am5d$-- 7,a7 9 clause 7vii71 by /rik+ & at ! end1 7,b7 9 clause 7viii71 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & 7,c7 by add+ at ! end ! foll[+3 7ix7 ! basis ( any hydrop[] improvem5t prop]ty "u section #dh;,f4 4 7#c7 ,section #ej ( su* ,code is am5d$-- 7,a7 9 subsection 7a77#b77;,e71 z am5d$ by section #acgjb7;b7 ( ,public ,law #aag-afi1 by /rik+ or #dh;,e7e7 & ins]t+ #dh;,e7e71 or #dh;,f7b71 & 7,b7 9 subsection 7d77#b7-- 7i7 9 ! matt] prec$+ subp>agraph 7,a71 by ins]t+ or any hydrop[] improvem5t prop]ty 7z def9$ 9 section #dh;,f7c77 aft] any en]gy /orage te*nology 7z def9$ 9 section #dh7;c77#f771 & 7ii7 9 subp>agraph 7,b71 by /rik+ en]gy /orage te*nology ea* place x appe>s & ins]t+ en]gy /orage te*nology or hydrop[] improvem5t prop]ty4 7#d7 ,! table ( sections = subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( su* ,code is am5d$ by ins]t+ aft] ! item relat+ to section #dh;,e ! foll[+ new item3 ,sec4 #dh;,f4 ,cr$it = ma9ta9+ & enhanc+ hydroelectric facilities4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjbb4