U.S. Senator Jerry Moran (R-KS) today told Etopia News why he introduced and continues to support the Master Limited Partnerships Parity Act, which would grant the renewable energy industry the same tax benefits currently enjoyed by their fossil-fuel counterparts, saying:
“Expanding master limited partnerships enables us to strengthen our economy and grow our energy infrastructure. We’ve seen MLPs’ success over the years in encouraging private investment in the kind of all-of-the-above energy strategy we must pursue to drive innovation and create American jobs.”
The Master Limited Partnerships Parity Act would, if passed by Congress and signed into law by President Obama, designate renewable energy production as a “qualifying activity” under the terms of I.R.C. 7704(d)(1)(E) and would thereby allow for the creation of Master Limited Partnerships based on renewable energy production, allowing IPOs for this class of limited partnerships and allowing them to pass through payments to investors without the need to first pay corporate income tax.