On the recordDecember 18, 2015
in Section 303 of the House amendment No. 1 to the Senate amendment to H.R. 2029, the text of the Consolidated Appropriations Act, 2016, the section 48 Investment Tax Credit, 26 U.S.C. section 48, is extended for 5 years, beginning on January 1, 2017, and phased down to 26 percent in 2020 and 22 percent in 2021. Section 303 inadvertently only extends the credit for solar energy technologies, rather than all of the technologies currently eligible to receive the credit. The intention of the agreement that I reached with the majority leader was to extend the section 48 Investment Tax Credit for all of the eligible technologies for 5 years and to treat each technology eligible for a 30 percent credit the same with respect to a phase down in the years 2020 and 2021. The permanent 10 percent credit for eligible technologies under section 48 will remain in place. The majority leader and I hope to address this early next year in an appropriate legislative vehicle.
