Summary

To amend the Internal Revenue Code of 1986 to increase and extend the credit for qualifying advanced energy projects, and for other purposes. Read More

Status

This bill was introduced on Feb 29, 2012, in a previous session of Congress, but was not passed.

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Date Introduced
Feb 29, 2012

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Bill Text

A BILL

To amend the Internal Revenue Code of 1986 to increase and extend the credit for qualifying advanced energy projects, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Clean Energy Jobs Act of 2012''.

TITLE I--INCREASE AND EXTENSION OF CREDIT FOR QUALIFYING ADVANCED ENERGY PROJECTS

SEC. 101. INCREASE AND EXTENSION OF CREDIT FOR QUALIFYING ADVANCED ENERGY PROJECTS.

(a) In General.--Subsection (d) of section 48C of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: ``(6) Additional 2012 allocations.-- ``(A) In general.--Not later than 180 days after the date of the enactment of this paragraph, the Secretary, in consultation with the Secretary of Energy, shall establish a program to consider and award certifications for qualified investments eligible for credits under this section to qualifying advanced energy project sponsors with respect to applications received on or after the date of the enactment of this paragraph. ``(B) Limitation.--The total amount of credits that may be allocated under the program described in subparagraph (A) shall not exceed $5,000,000,000. ``(C) Application of certain rules.--Rules similar to the rules of paragraphs (2), (3), (4), and (5) shall apply for purposes of the program described in subparagraph (A), except that applicants shall have 2 years from the date that the Secretary establishes such program to submit applications.''. (b) Effective Date.--The amendment made by...

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Bill Summary

To amend the Internal Revenue Code of 1986 to increase and extend the credit for qualifying advanced energy projects, and for other purposes.

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