S 157

112th CONGRESS
1st Session

S. 157

To amend the Internal Revenue Code of 1986 to provide an investment credit for solar light pipe property, and for other purposes.

IN THE SENATE OF THE UNITED STATES

January 25 (legislative day, January 5), 2011

Mr. KOHL introduced the following bill; which was read twice and referred to the Committee on Finance


A BILL

To amend the Internal Revenue Code of 1986 to provide an investment credit for solar light pipe property, 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. INVESTMENT CREDIT FOR SOLAR LIGHT PIPE PROPERTY.

    (a) In General- Subparagraph (A) of section 48(a)(3) of the Internal Revenue Code of 1986 is amended by striking `or' at the end of clause (vi), by adding `or' at the end of clause (vii), and by inserting after clause (vii) the following new clause:

          `(viii) equipment that--

            `(I) uses prismatic or other lenses, glazing, reflectors, or concentrators to convey or diffuse (or both) natural light into a structure, or uses a highly reflective light pipe which has a solar collection component and a distribution lens at the ends to transport visible solar radiation from its collection point to illuminate the interior of a structure, and

            `(II) integrates automatic lighting controls to adjust traditionally powered lighting to satisfy building lighting requirements,'.

    (b) Credit Percentage- Clause (i) of section 48(a)(2)(A) of the Internal Revenue Code of 1986 is amended by striking `and' at the end of subclause (III) and by inserting after subclause (IV) the following new subclause:

            `(V) energy property described in paragraph (3)(A)(viii), and'.

    (c) Effective Date- The amendments made by this section shall apply to periods after the date of the enactment of this Act, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).

END