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119-s-4112119th CongressWALLET

A bill to amend the Internal Revenue Code of 1986 to extend the credit period for the production of refined coal, and for other purposes.

Sponsored By: Senator Justice, James C. [R-WV]

Introduced

Summary

Extends the refined coal production tax credit deadline to January 1, 2033. This bill would also clarify which facility changes qualify and makes the rules apply to refined coal produced and sold after December 31, 2025.

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  • Refined coal producers: Would be able to claim the section 45 refined coal production credit for output produced and sold after December 31, 2025 if the credit is earned before January 1, 2033.
  • Facilities that produce steel industry fuel: Adds a phrase so modifications that allow a facility to produce steel industry fuel can qualify the facility for the refined coal credit.
  • Tax code cleanup: Reorganizes and renumbers subparagraphs in section 45 to conform the refined coal credit rules and streamline references.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Refined coal tax credit changes for producers

This bill would change the tax credit for producing refined coal. Modifications that let a facility produce steel industry fuel would count as qualifying changes. The credit would only be allowed for refined coal produced before January 1, 2033. These rules would apply to refined coal produced and sold after December 31, 2025. The bill does not change the credit dollar amount in the text shown.

Sponsors & CoSponsors

Sponsor

Justice, James C. [R-WV]

WV • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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