Renewable Energy Production Incentive Reform Act - Amends the Energy Policy Act of 1992 to modify renewable energy production incentive payment guidelines to provide that if there are insufficient appropriations to make full payments for electric production from all qualified renewable energy facilities in any given year, the Secretary of Energy shall assign 60 percent of appropriated funds for that year to facilities that use solar, wind, geothermal, or closed-loop (dedicated energy crops) biomass technologies to generate electricity, and assign the remaining 40 percent to other projects.
Redefines a qualified renewable energy facility as one: (1) owned by certain tax-exempt electricity-generating cooperatives, certain public utilities, a State, territorial, or local governments or an Indian tribal government; and (2) which may involve electricity generation by landfill gas.
Extends through FY 2015 the deadline for first use of a facility eligible for incentive payments.