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United States · Bill · S

S. 1516 (114th)

POWER Act

referredUnited States· United States Congress· EN

Introduced

4 June 2015

Last action

4 June 2015 · Introduced

Status

Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3779-3780)

Sponsors

Sen. Collins, Susan M. [R-ME], Sen. Casey, Robert P., Jr. [D-PA], Sen. Reid, Harry [D-NV], Sen. King, Angus S., Jr. [I-ME]

Subjects

Nuclear energy, Taxation

Source updated

5 December 2025

Nuclear energy · Taxation

Official sourceDownload fileView documentsShare

Summary

Power Efficiency and Resiliency Act or the POWER Act Amends the Internal Revenue Code to: (1) allow a 30% energy tax credit for combined heat and power system property and increase the capacity limitations for such property, (2) extend until December 31, 2018, the placed-in-service deadline for such property, and (3) allow a 30% energy tax credit for waste heat to power property (property comprising a system generating electricity through the recovery of a qualified waste heat resource) placed in service before January 1, 2019. Includes within the definition of "qualified waste heat resource": (1) exhaust heat or flared gas from any industrial process; (2) waste gas or industrial tail gas that would otherwise be flared, incinerated, or vented; and (3) a pressure drop in any gas for an industrial or commercial process. Excludes from such definition any heat resource from a process the primary purpose of which is the generation of electricity utilizing a fossil fuel or nuclear energy.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 4 June 2015

    Introduced

    Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3779-3780)

    Source: IntroReferral

  2. 4 June 2015

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 4 June 2015

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  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 4 June 2015

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 4 June 2015

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Sponsors

Related records

Sources

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