BTU Act of 2015

Summary

Biomass Thermal Utilization Act of 2015 or the BTU Act of 2015 Amends the Internal Revenue Code to include 30% of qualified biomass fuel property expenditures made in taxable years beginning before 2021 in the residential energy efficient property tax credit. Defines "qualified biomass fuel property expenditure" as an expenditure for property which uses the burning of biomass fuel (a plant-derived fuel available on a renewable or recurring basis) to heat a dwelling used as a residence, or to heat water for use in such dwelling, and which has a thermal efficiency rating of at least 75%. Allows: (1) a 15% energy tax credit until 2021 for investment in open-loop biomass heating property, and (2) a 30% credit for boilers or furnaces that operate at thermal output efficiencies of at least 80% and provide thermal energy.

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Timeline

1. 12 March 2015

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 12 March 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 12 March 2015 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 12 March 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 12 March 2015

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 12 March 2015

  Open at official source

Sponsors

• Angus King · I · Sponsor
• Susan Collins · R · Sponsor
• Jeanne Shaheen · D · Sponsor
• Jeff Merkley · D · Sponsor
• Tammy Baldwin · D · Cosponsor
• Sen. Ayotte, Kelly [R-NH] · R · Cosponsor
• Sen. Franken, Al [D-MN] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → BTU Act of 2015