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March 9, 2010, 12:00 am ET - Amendment SA 3371 proposed by Senator Baucus for Senator Rockefeller to Amendment SA 3336.
March 9, 2010, 12:00 am ET - Amendment SA 3371 as modified agreed to in Senate by Unanimous Consent.

Full Text of this Amendment

SA 3371. Mr. ROCKEFELLER (for himself, Mr. SPECTER, and Mr. HATCH) submitted an amendment intended to be proposed to amendment SA 3336 proposed by Mr. BAUCUS to the bill H.R. 4213, to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes; which was ordered to lie on the table; as follows:

At the end of subtitle A of title I, insert the following:
SEC. __X. EXTENSION AND MODIFICATION OF SECTION 45 CREDIT FOR REFINED COAL FROM STEEL INDUSTRY FUEL.
(a) Credit Period.--
(1) IN GENERAL.--Subclause (II) of section 45(e)(8)(D)(ii) is amended to read as follows:
"(II) CREDIT PERIOD.--In lieu of the 10-year period referred to in clauses (i) and (ii)(II) of subparagraph (A), the credit period shall be the period beginning on the date that the facility first produces steel industry fuel that is sold to an unrelated person after September 30, 2008, and ending 2 years after such date.".
(2) CONFORMING AMENDMENT.--Section 45(e)(8)(D) is amended by striking clause (iii) and by redesignating clause (iv) as clause (iii).
(b) Extension of Placed-in-Service Date.--Subparagraph (A) of section 45(d)(8) is amended--
(1) by striking "(or any modification to a facility)", and
(2) by striking "2010" and inserting "2011".
(c) Clarifications.--
(1) STEEL INDUSTRY FUEL.--Subclause (I) of section 45(c)(7)(C)(i) is amended by inserting ", a blend of coal and petroleum coke, or other coke feedstock" after "on coal".
(2) OWNERSHIP INTEREST.--Section 45(d)(8) is amended by adding at the end the following new flush sentence:
"With respect to a facility producing steel industry fuel, no person (including a ground lessor, customer, supplier, or technology licensor) shall be treated as having an ownership interest in the facility or as otherwise entitled to the credit allowable under subsection (a) with respect to such facility if such person's rent, license fee, or other entitlement to net payments from the owner of such facility is measured by a fixed dollar amount or a fixed amount per ton, or otherwise determined
without regard to the profit or loss of such facility.".
(3) PRODUCTION AND SALE.--Subparagraph (D) of section 45(e)(8), as amended by subsection (a)(2), is amended by redesignating clause (iii) as clause (iv) and by inserting after clause (ii) the following new clause:
"(iii) PRODUCTION AND SALE.--The owner of a facility producing steel industry fuel shall be treated as producing and selling steel industry fuel where that owner manufactures such steel industry fuel from coal, a blend of coal and petroleum coke, or other coke feedstock to which it has title. The sale of such steel industry fuel by the owner of the facility to a person who is not the owner of the facility shall not fail to qualify as a sale to an unrelated person solely because such
purchaser may also be a ground lessor, supplier, or customer.".
(d) Specified Credit for Purposes of Alternative Minimum Tax Exclusion.--Subclause (II) of section 38(c)(4)(B)(iii) is amended by inserting "(in the case of a refined coal production facility producing steel industry fuel, during the credit period set forth in section 45(e)(8)(D)(ii)(II))" after "service".
(e) Effective Dates.--
(1) IN GENERAL.--The amendments made by subsections (a), (b), and (d) shall take effect on the date of the enactment of this Act.
(2) CLARIFICATIONS.--The amendments made by subsection (c) shall take effect as if included in the amendments made by the Energy Improvement and Extension Act of 2008.


(As printed in the Congressional Record for the Senate on Mar 3, 2010.)