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Full Text of this Amendment
On page 268, between lines 11 and 12, insert the following:
SEC. __X. CLARIFICATION OF QUALIFYING TECHNOLOGIES ELIGIBLE FOR COMBINED HEAT AND POWER SYSTEM PROPERTY CREDIT.
(a) Nonapplication of Certain Rules.--Section 48(c)(3)(C) is amended by adding at the end the following new clause:
"(iv) NONAPPLICATION OF CERTAIN RULES.--For purposes of determining if the term `combined heat and power system property' includes technologies which generate electricity or mechanical power using back-pressure steam turbines in place of existing pressure-reducing valves or which make use of waste heat from industrial processes such as by using organic rankine, stirling, or kalina heat engine systems, subparagraph (A) shall be applied without regard to clause (ii).".
(b) 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).
(As printed in the Congressional Record for the Senate on Mar 8, 2010.)