Improving the Lives of the American People Act

(a) Repeal of termination for wind and solar facilities. Section 48(e) of the Internal Revenue Code of 1986 is amended—

(1) in paragraph (1), by striking Subject to paragraph (4), the amount and inserting The amount, and

(2) by striking paragraph (4).

(b) Restoration of credit for expenditures for wind and solar leasing arrangements

(1) In general. Section 48E of such code is amended by striking subsection (i) and by redesignating subsections (j) and (k) as subsections (i) and (j), respectively.

(2) Conforming rule repeal. Section 50 of such code is amended by striking subsection (e).

(c) Restoration of credit for certain energy property. Section 48(a)(2)(A)(ii) of such code is amended by striking 0 percent and inserting 2 percent.

(d) Effective dates. The amendments made by this section shall take effect as if included in section 70513 of Public Law 119–21.