DIVISION B—ENERGY IMPROVEMENT AND EXTENSION ACT OF 2008
SEC. 1. SHORT TITLE, ETC.
(a) Short Title.—
This division may be cited as the ``Energy Improvement and Extension Act of 2008''.
(b) Reference.—
Except as otherwise expressly provided, whenever in this division an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.
(c) Table of Contents.—
The table of contents for this division is as follows:
TITLE I—ENERGY PRODUCTION INCENTIVES
Subtitle A—Renewable Energy Incentives
SEC. 101. RENEWABLE ENERGY CREDIT.
(a) Extension of Credit.—
(1) 1-year extension for wind and refined coal facilities.—
Paragraphs (1) and (8) of section 45(d) are each amended by striking ``January 1, 2009'' and inserting ``January 1, 2010''. (2) 2-year extension for certain other facilities.— Each of the following provisions of section 45(d) is amended by striking ``January 1, 2009'' and inserting ``January 1, 2011'': (A) Clauses (i) and (ii) of paragraph (2)(A). (B) Clauses (i)(I) and (ii) of paragraph (3)(A). (C) Paragraph (4). (D) Paragraph (5). (E) Paragraph (6). (F) Paragraph (7). (G) Subparagraphs (A) and (B) of paragraph (9).
(b) Modification of Refined Coal as a Qualified Energy Resource.—
(1) Elimination of increased market value test.—
Section 45(c)(7)(A)(i) (defining refined coal), as amended by section 108, is amended— (A) by striking subclause (IV), (B) by adding ``and'' at the end of subclause (II), and (C) by striking ``, and'' at the end of subclause (III) and inserting a period. (2) Increase in required emission reduction.— Section 45(c)(7)(B) (defining qualified emission reduction) is amended by inserting ``at least 40 percent of the emissions of'' after ``nitrogen oxide and''.
(c) Trash Facility Clarification.—
Paragraph (7) of section 45(d) is amended—
(1) by striking ``facility which burns'' and inserting ``facility (other than a facility described in paragraph (6)) which uses'', and (2) by striking ``combustion''.
(d) Expansion of Biomass Facilities.—
(1) Open-loop biomass facilities.—
Paragraph (3) of section 45(d) is amended by redesignating subparagraph (B) as subparagraph (C) and by inserting after subparagraph (A) the following new subparagraph: ``(B) Expansion of facility.—Such term shall include a new unit placed in service after the date of the enactment of this subparagraph in connection with a facility described in subparagraph (A), but only to the extent of the increased amount of electricity produced at the facility by reason of such new unit.''. (2) Closed-loop biomass facilities.— Paragraph (2) of section 45(d) is amended by redesignating subparagraph (B) as subparagraph (C) and inserting after subparagraph (A) the following new subparagraph: ``(B) Expansion of facility.—Such term shall include a new unit placed in service after the date of the enactment of this subparagraph in connection with a facility described in subparagraph (A)(i), but only to the extent of the increased amount of electricity produced at the facility by reason of such new unit.''.