Make It in America Tax Credit Act of 2011
Latest action · Oct 31, 2011 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 31, 2011
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Make It in America Tax Credit Act of 2011 - Amends the Internal Revenue Code to expand the qualifying advanced energy project credit by allocating $5 billion of grants or tax credit amounts in 2011 to manufacturers in the United States of goods and components that are used in alternative energy projects (other than for assembly of components). Limits the credit percentage with respect to such allocation amount to not more than 30%.
Makes a qualifying biobased product eligible for the qualifying advanced energy project tax credit. Defines "qualifying biobased product" as a product that may be used as a petrochemical alternative and that has a biobased content of not less than 25 % or the minimum content level as established under the Farm Security and Rural Investment Act of 2002.
Renames the Qualifying Advanced Energy Project Credit as the Make It in America Credit.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Oct 31, 2011Introduced in Senate
- Oct 31, 2011Read twice and referred to the Committee on Finance.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 591 | SEAM Act of 2011 | Related bill | Mar 15, 2011 |
| HR 724 | SEAM Act of 2011 | Related bill | Feb 15, 2011 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Oct 31, 2011Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.