,i #aaith ,,congress #ast ,session ,h4 ,r4 #caj ,,in ,,the ,,house ,,of ,,representatives ,january #i1 #bjbe,mr4 ,perry 7for himself1 ,mr4 ,biggs of ,arizona1 ,mr4 ,ogles1 and ,mr4 ,roy7 introduced the following bill2 which was referred to the ,committee on ,ways and ,means ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to repeal certain credits4 #a4 ,short title ,this ,act may be cited as the ,restoring ,energy ,market ,freedom ,act4 #b4 ,repeal of credits 7a7 ,in general ,subpart ,d of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by striking sections #de1 #de;,j1 #de,q1 #de,u1 #de,v1 #de,x1 #de,y1 #dh1 #dh;,a1 #dh;,b1 #dh;,c1 #dh;,d1 and #dh;,e 7and by striking the items relating to such sections in the table of sections for such subpart74 7b7 ,general business credit ,section #ch of such ,code is amended-- 7#a7 in subsection 7b71 by striking paragraphs 7#h71 7#ba71 7#bi71 7#cf71 7#cg71 7#ch71 and 7#ci7 and redesignating paragraphs 7#i7-7bj71 7#bb7-7bh71 7#cj7-7ce71 and 7#dj7-7da7 as paragraphs 7#h7-7ai71 7#bj7-7bf71 7#bg7-7cb71 and 7#cc7-7cd71 respectively1 and 7#b7 in subsection 7c77#d77;,b71 by striking clauses 7iv71 7v71 and 7x7 and redesignating clauses 7vi7-7ix7 and 7xi7-7xii7 as clauses 7iv7-7vii7 and 7viii7-7ix71 respectively4 7c7 ,conforming amendments 7#a7 ,section #be7;e77#c7 of such ,code is amended by adding 7as in effect immediately before its repeal7 before the period at the end4 7#b7 ,section #cj;,c of such ,code is amended-- 7,a7 in subsection 7g77#b77;,b71 by inserting 7as in effect immediately prior to its repeal7 after section #de7;b77#g77;,b71 and 7,b7 in subsection 7g77#c71 by inserting 7as in effect immediately prior to its repeal7 after section #de7;b77#h74 7#c7 ,section #de,k7b77#c7 of such ,code is amended by striking 7within the meaning of section #dh7;a77#d77;,c77 and inserting 7within the meaning of section #dh7;a77#d77;,c7 as in effect immediately before its repeal74 7#d7 ,section #de,k7g77#b7 of such ,code is amended by striking subparagraph 7,e74 7#e7 ,section #de,l7g77#b77;,b7 of such ,code is amended by inserting 7as in effect immediately prior to its repeal7 after section #de7;b77#g77;,b74 7#f7 ,section #de,z of such ,code is amended-- 7,a7 in subsection 7c71 by inserting 7as in effect immediately prior to its repeal7 after pursuant to section #de,y7c71 7,b7 by amending subsection 7d77#d7 to read as follows3 7#d7 ,qualified facility ,the term qualified facility means a facility used for the production of transportation fuels4 1 and 7,c7 in subsection 7f7-- 7i7 in paragraph 7#e71 by inserting 7as in effect immediately prior to its repeal7 after section #de,y7g77#f71 7ii7 in paragraph 7#f71 by inserting 7as in effect immediately prior to its repeal7 after section #de7;b77#g71 and 7iii7 in paragraph 7#g71 by inserting 7as in effect immediately prior to its repeal7 after section #de7;b77#h74 7#g7 ,section #di7;a77,c7 of such ,code is amended by adding and at the end of clause 7i71 by striking the comma at the end of clause 7ii7 and inserting a period1 and by striking clauses 7ii71 7iv71 7v71 and 7vi74 7#h7 ,section #ej7;a77#b77;,e7 of such ,code is amended by striking section #dh7;b74 7#i7 ,section #ej7;a7 of such ,code is amended-- 7,a7 in paragraph 7#b71 by striking subparagraph 7,e71 and 7,b7 by striking paragraph 7#c74 7#aj7 ,section #ef;,a7c7 of such ,code is amended by striking paragraph 7#i74 7#aa7 ,section #ei;,a7b77#d7 of such ,code is amended by striking properly allocable to and all that follows through the period and by inserting properly allocable to the low-income housing credit determined under section #db7;a744 7#ab7 ,section #adb7o7 of such ,code is amended by inserting as in effect immediately prior to its repeal after 7as defined in section #de,q7e77#c74 7#ac7 ,section #afh7;e77#c77;,b7 of such ,code is amended-- 7,a7 in clause 7v71 by adding and at the end1 and 7,b7 by striking clause 7vi74 7#ad7 ,section #agi;,d7b7 of such ,code is amended-- 7,a7 in paragraph 7#d77;,b71 by inserting 7as in effect immediately prior to its repeal7 after section #de7;b77#g77;,b71 and 7,b7 in paragraph 7#e71 by inserting 7as in effect immediately prior to its repeal7 after section #de7;b77#h74 7#ae7 ,section #dji of such ,code is amended-- 7,a7 in subsection 7g71 by striking section #dh7n77#a7 or and section #dh7n77#a7 and1 and 7,b7 in subsection 7m71 by striking 1 or subparagraph 7,a7 or 7,b7 of section #dh7n77#a74 7#af7 ,section #eja7;c77#ab7 of such ,code is amended by striking subparagraph 7,i7 and by redesignating subparagraph 7,j7 as subparagraph 7,i74 7#ag7 ,section #fdag of such ,code is amended-- 7,a7 in subsection 7b71 by striking paragraphs 7#b71 7#c71 7#d71 7#e71 7#g71 7#h71 7#aj71 7#aa71 and 7#ab7 and by redesignating paragraphs 7#f7 and 7#i7 as paragraphs 7#b7 and 7#c71 respectively1 and 7,b7 in subsection 7d7-- 7i7 by amending paragraph 7#a7 to read as follows3 7#a7 ,applicable entity ,the term applicable entity means-- 7,a7 any organization exempt from the tax imposed by subtitle ,a1 7,b7 any ,state or political subdivision thereof1 7,c7 the ,tennessee ,valley ,authority1 7,d7 an ,indian tribal government 7as defined in section #cj;,d7g77#i771 7,e7 any ,alaska ,native ,corporation 7as defined in section #c of the ,alaska ,native ,claims ,settlement ,act 7#dc ,u4,s4,c4 #afjb7m771 or 7,f7 any corporation operating on a cooperative basis which is engaged in furnishing electric energy to persons in rural areas4 1 and 7ii7 by amending paragraph 7#c7 to read as follows3 7#c7 ,elections 7,a7 ,due date ,any election under subsection 7a7 shall be made not later than-- 7i7 in the case of any government1 or political subdivision1 described in paragraph 7#a7 and for which no return is required under section #fjaa or #fjcc7;a71 such date as is determined appropriate by the ,secretary1 or 7ii7 in any other case1 the due date 7including extensions of time7 for the return of tax for the taxable year for which the election is made1 but in no event earlier than #ahj days after the date of the enactment of this section4 7,b7 ,additional rules ,any election under subsection 7a71 once made1 shall be irrevocable and shall apply 7except as otherwise provided in this paragraph7 with respect to any credit for the taxable year for which the election is made4 4 7#ah7 ,section #fdah7;f77#a7 of such ,code is amended-- 7,a7 in subparagraph 7,a71 by striking clauses 7ii7-7vii7 and 7ix7-7xi7 and by redesignating clause 7viii7 as clause 7ii71 7,b7 by striking subparagraph 7,b71 and 7,c7 by redesignating subparagraph 7,c7 as subparagraph 7,b74 7d7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjbd4