text: SECTION 1. SHORT TITLE; ETC.
  
      (a) Short Title.--This Act may be cited as the ``Renewable Energy 
  Investment Act of 2009''.
      (b) Amendment of 1986 Code.--Except as otherwise expressly 
  provided, whenever in this subtitle an amendment or repeal is expressed 
  in terms of an amendment to, or repeal of, a section or other 
  provision, the reference shall be considered to be made to a section or 
  other provision of the Internal Revenue Code of 1986.
      (c) Table of Contents.--
  
  Sec. 1. Short title; etc.
                  TITLE I--INVESTMENT IN RENEWABLE ENERGY
  
  Sec. 101. Extension of renewable electricity production credit.
  Sec. 102. Expansion and extension of new clean renewable energy bonds.
  Sec. 103. Extension of investment tax credit for certain energy 
                              property.
  Sec. 104. Increase in credit for investment in advanced energy 
                              facilities.
             TITLE II--INVESTMENT IN ALTERNATIVE FUEL PROPERTY
  
  Sec. 201. Extension of credits for alcohol fuels.
  Sec. 202. Extension of credits for biodiesel and renewable diesel.
                      TITLE III--INVESTMENT IN ETHANOL
  
  Sec. 301. Research in and development of fungible biofuels.
  
                  TITLE I--INVESTMENT IN RENEWABLE ENERGY
  
  SEC. 101. EXTENSION OF RENEWABLE ELECTRICITY PRODUCTION CREDIT.
  
      (a) In General.--Subsection (d) of section 45 is amended--
              (1) by striking ``January 1, 2013'' in paragraph (1) and 
          inserting ``January 1, 2015'', and
              (2) by striking ``January 1, 2014'' each place it appears 
          in paragraphs (2), (3), (4), (6), (7), (9), and (11)(B) and 
          inserting ``January 1, 2015''.
      (b) Effective Date.--The amendments made by this section shall 
  apply to property placed in service after the date of the enactment of 
  this Act.
  
  SEC. 102. EXPANSION AND EXTENSION OF NEW CLEAN RENEWABLE ENERGY BONDS.
  
      (a) In General.--Paragraph (2) of section 54C(c) is amended by 
  inserting ``, for calendar years 2011, 2012, 2013, and 2014, an 
  additional $500,000,000 for each year, and, except as provided in 
  paragraph (5) for years after 2014, zero,'' after ``$800,000,000''.
      (b) Carryover of Unused Limitation.--Subsection (c) of section 54C 
  is amended by adding at the end the following new paragraph:
              ``(5) Carryover of unused limitation.--If for any calendar 
          year--
                      ``(A) the amount allocated under paragraph (2) for 
                  such calendar year, exceeds
                      ``(B) the amount of bonds issued during such year 
                  which are designated under subsection (a) pursuant to 
                  such allocation,
          then the limitation amount under paragraph (2) for the 
          following calendar year shall be increased by the amount of 
          such excess.''.
      (c) Effective Date.--The amendments made by this section shall 
  apply to bonds issued after December 31, 2010.
  
  SEC. 103. EXTENSION OF INVESTMENT TAX CREDIT FOR CERTAIN ENERGY 
                PROPERTY.
  
      (a) Solar Energy Property.--Paragraphs (2)(A)(i)(II) and (3)(A)(ii) 
  of section 48(a) are each amended by striking ``January 1, 2017'' and 
  inserting ``January 1, 2019''.
      (b) Fuel Cell Property.--Subparagraph (D) of section 48(c)(1) is 
  amended by striking ``December 31, 2016'' and inserting ``December 31, 
  2018''.
      (c) Qualified Small Wind Energy Property.--Subparagraph (C) of 
  section 48(c)(4) is amended by striking ``December 31, 2016'' and 
  inserting ``December 31, 2018''.
      (d) Geothermal Heat Pump Systems.--Clause (vii) of section 
  48(a)(3)(A) is amended by striking ``January 1, 2017'' and inserting 
  ``January 1, 2019''.
      (e) Effective Date.--The amendments made by this section shall 
  apply to property placed in service after the date of the enactment of 
  this Act.
  
  SEC. 104. INCREASE IN CREDIT FOR INVESTMENT IN ADVANCED ENERGY 
                FACILITIES.
  
      (a) In General.--Subparagraph (B) of section 48C(d)(1) is amended 
  by striking ``$2,300,000,000'' and inserting ``$4,000,000,000''.
      (b) Effective Date.--The amendment made by this section shall take 
  effect as if included in the amendments made by section 1302 of the 
  American Recovery and Reinvestment Tax Act of 2009.
  
             TITLE II--INVESTMENT IN ALTERNATIVE FUEL PROPERTY
  
  SEC. 201. EXTENSION OF CREDITS FOR ALCOHOL FUELS.
  
      (a) In General.--Sections 40, 6426(b)(6), and 6427(e)(6)(A) are 
  each amended by striking ``2010'' each place it appears and inserting 
  ``2011''.
      (b) Conforming Amendment.--Section 40(e)(1)(B) is amended by 
  striking ``2011'' and inserting ``2012''.
      (c) Effective Date.--The amendments made by this section shall 
  apply to sales and uses after the date of the enactment of this Act.
  
  SEC. 202. EXTENSION OF CREDITS FOR BIODIESEL AND RENEWABLE DIESEL.
  
      (a) In General.--Sections 40A(g), 6426(c)(6), and 6427(e)(6)(B) are 
  each amended by striking ``December 31, 2009'' each place it appears 
  and inserting ``December 31, 2011''.
      (b) Effective Date.--The amendments made by this section shall 
  apply to sales and uses after the date of the enactment of this Act.
  
                      TITLE III--INVESTMENT IN ETHANOL
  
  SEC. 301. RESEARCH IN AND DEVELOPMENT OF FUNGIBLE BIOFUELS.
  
      There is authorized to be appropriated for advanced biofuels 
  research, development, and demonstration that will create fuels that 
  are fungible in existing infrastructure $100,000,000.
target: Renewable Energy Investment Act of 2009 - Amends the Internal Revenue Code to: (1) extend through 2014 the tax credit for producing electricity from renewable resources; (2) increase and extend through 2014 the authority for issuing new clean renewable energy bonds; (3) extend through 2018 the energy tax credit for investment in solar energy and fuel cell property, small wind energy property, and geothermal heat pump systems; (4) increase the energy tax credit for investment in advanced energy facilities; and (5) extend through 2011 the income and excise tax credits for alcohol fuels, biodiesel, and renewable diesel.
  
  Authorizes appropriations for advanced biofuels research, development, and demonstration that will create fuels that are fungible in existing infrastructure.
feat_title: To enhance the energy security of the United States by encouraging investments in renewable and alternative energy and to authorize appropriations for research in and development of fungible biofuels.