H.R. 1: Final Stimulus Version
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—PART II—ALTERNATIVE MINIMUM TAX RELIEF SEC. 1011. EXTENSION OF ALTERNATIVE MINIMUM TAX RELIEF FOR NONREFUNDABLE PERSONAL CREDITS. (a) IN GENERAL.—Paragraph (2) of section 26(a) (relating to special rule for taxable years 2000 through 2008) is amended— (1) by striking ‘‘or 2008’’ and inserting ‘‘2008, or 2009’’, and (2) by striking ‘‘2008’’ in the heading thereof and inserting ‘‘2009’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 2008. SEC. 1012. EXTENSION OF INCREASED ALTERNATIVE MINIMUM TAX EXEMPTION AMOUNT. (a) IN GENERAL.—Paragraph (1) of section 55(d) (relating to exemption amount) is amended— (1) by striking ‘‘($69,950 in the case of taxable years beginning in 2008)’’ in subparagraph (A) and inserting ‘‘($70,9in the case of taxable years beginning in 2009)’’, and (2) by striking ‘‘($46,200 in the case of taxable years beginning in 2008)’’ in subparagraph (B) and inserting ‘‘($46,700 in the case of taxable years beginning in 2009)’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 2008. Subtitle B—Energy Incentives PART I—RENEWABLE ENERGY INCENTIVES SEC. 1101. EXTENSION OF CREDIT FOR ELECTRICITY PRODUCED FROM CERTAIN RENEWABLE RESOURCES. (a) IN GENERAL.—Subsection (d) of section 45 is amended— (1) by striking ‘‘2010’’ in paragraph (1) and inserting ‘‘2013’’, (2) by striking ‘‘2011’’ each place it appears in paragraphs (2), (3), (4), (6), (7) and (9) and inserting ‘‘2014’’, and (3) by striking ‘‘2012’’ in paragraph (11)(B) and inserting ‘‘2014’’. (b) TECHNICAL AMENDMENT.—Paragraph (5) of section 45(d) is amended by striking ‘‘and before’’ and all that follows and inserting ‘‘ and before October 3, 2008.’’. (c) EFFECTIVE DATE.— (1) IN GENERAL.—The amendments made by subsection (a) shall apply to property placed in service after the date of the enactment of this Act. (2) TECHNICAL AMENDMENT.—The amendment made by subsection (b) shall take effect as if included in section of the Energy Improvement and Extension Act of 2008. SEC. 1102. ELECTION OF INVESTMENT CREDIT IN LIEU OF PRODUCTION CREDIT. (a) IN GENERAL.—Subsection (a) of section 48 is amended by adding at the end the following new paragraph: ‘‘(5) ELECTION TO TREAT QUALIFIED FACILITIES AS ENERGY PROPERTY.— ‘‘(A) IN GENERAL.—In the case of any qualified property which is part of a qualified investment credit facility—