Master Limited Partnership Parity Act Reintroduced To House And Senate
On June 24, 2015, the Master Limited Partnership Parity Act (S. 1656) was reintroduced in the House and the Senate. The legislation would provide investors in renewable energy projects with tax breaks that are currently available to investors in fossil fuel-based energy projects. A master limited partnership is taxed as a partnership, but ownership interests are traded like corporate stock, thus avoiding the double taxation that can occur with traditional corporate structures when both profits and dividends are taxed. "Renewable energy technologies have made tremendous progress in the last several decades, and they deserve the same shot at success in the market as traditional energy projects," stated co-sponsor of the bill Senator Chris Coons (D-DE). This legislation would extend the benefits of a master limited partnership to biomass, municipal solid waste, solar, cellulosic fuels, biodiesel, algae-based fuels, and other renewable energy technologies.