PANELS Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 1237 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 1237 To amend the Internal Revenue Code of 1986 to deny the energy credit to property located on prime or unique farmland, as defined by the Secretary of Agriculture in part 657 of title 7, Code of Federal Regulations, if such property is used for generating solar energy. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 12, 2025 Mr. Bost (for himself and Mr. Finstad) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to deny the energy credit to property located on prime or unique farmland, as defined by the Secretary of Agriculture in part 657 of title 7, Code of Federal Regulations, if such property is used for generating solar energy. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Protect Agriculture, Nutrients, and Essential Lands from Solar Act'' or the ``PANELS Act''. SEC. 2. CREDITS AMENDED TO EXCLUDE PROPERTY LOCATED ON PRIME OR UNIQUE FARMLAND. (a) Energy Credit.-- (1) Energy property.--Section 48(a)(3) of the Internal Revenue Code of 1986 is amended by striking the period at the end and inserting ``, or property which is located on prime farmland or unique farmland if such property is used for generating solar energy.'' (2) Qualified property.--Section 48(a)(5)(D) of such Code is amended-- (A) in clause (iii), by striking ``and'' at the end, (B) in clause (iv), by striking the period at the end and inserting ``, and'', and (C) by adding at the end the following new clause: ``(v) which, in the case of property used for the purpose of generating solar energy, is not loc