“To amend the Internal Revenue Code of 1986 to extend the credit period for the production of refined coal, and for other purposes.”
No CRS summary available for this bill.
This section extends the refined coal production tax credit—available under IRC §45(e)(8) for refined coal (i.e., treated coal produced at qualified facilities that achieves at least 20% reductions in nitrogen oxide and either mercury or sulfur dioxide emissions when used in electricity production or as steel industry fuel)—to refined coal produced and sold before January 1, 2033 (from the 10-year period beginning on the date the facility was originally placed in service). It makes conforming amendments to IRC §45(e)(8)(D) by striking and redesignating certain subclauses and clauses; modifies the qualified facility definition under IRC §45(d)(8)(A) to expressly include facility modifications that enable steel industry fuel production; and applies these changes to refined coal produced and sold after December 31, 2025. (Thus, facilities placed in service before January 1, 2023 may claim the credit for eligible production through 2032.)