Biomass Facility Construction Act
Sponsored By: Representative Kiley, Kevin [I-CA-3]
Introduced
Summary
This bill would revive and reshape two tax-credit tools to encourage investment in biomass energy, most notably offering a bold 30 percent investment tax credit for specified biomass facilities, and it ties eligibility to when construction starts.**
Show full summary
- Developers and investors: Would let qualifying equipment at specified biomass facilities be treated as energy property under the tax code and receive a 30 percent investment credit for qualified property if construction begins after enactment.
- Biomass producers and facility operators: Would expand the production tax credit rules to cover new biomass facilities that start construction after enactment by changing date references that previously pointed to January 1, 2025.
- Project planning and timing: The bill makes the start-of-construction date the key eligibility trigger so projects that begin after enactment can claim either the investment credit or the production credit under the revised rules.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Tax credits for new biomass projects
This bill would let owners and investors in open- and closed-loop biomass projects claim a 30% investment tax credit. The credit would apply to eligible project property that is part of such a facility if construction begins after enactment. It would also expand production tax credit timing so facilities that begin construction after enactment are eligible. And it would remove certain production-credit limits for those newly built biomass facilities. Eligibility still depends on the tax code's definition of qualified property.
Sponsors & CoSponsors
Sponsor
Kiley, Kevin [I-CA-3]
CA • I
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov