On July 17th, Representative Mike Michaud (D-ME2) introduced a House version of Sen. King's BTU Act. Representatives Peter Welch (D-VT0) and Chris Gibson (R-NY19) have co-sponsored the legislation. The bill is identical to S. 1007, introduced by Senators Angus King (I-ME) and Susan Collins (R-ME) in late May.
The bill, H.R. 2715, or the "Biomass Thermal Utilization Act of 2013," would recognize biomass thermal technologies within the renewable energy provisions of the tax code. One provision of the BTU Act would include high-efficiency biomass heating technology in Section 25D of the Internal Revenue Code, the residential renewable energy 30% investment tax credit. The second provision is a tiered tax credit for 15% or 30% of the installed cost of biomass-fueled heating (or cooling) systems for commercial or industrial applications in Section 48 of the tax code.
For more information on this important policy development please click here.