1. Short title This Act may be cited as the Solar Jobs Preservation Act of 2020 . 2. Elective payment for energy property, electricity produced from certain renewable resources (a) In general Subchapter B of chapter 65 is amended by adding at the end the following new section: 6431. Elective payment for energy property, electricity produced from certain renewable resources (a) Energy property In the case of a taxpayer making an election (at such time and in such manner as the Secretary may provide) under this section with respect to any portion of an applicable credit, such taxpayer shall be treated as making a payment against the tax imposed by subtitle A for the taxable year equal to the amount of such portion. (b) Definitions and special rules For purposes of this section— (1) Applicable credit The term applicable credit means the energy credit under section 48. (2) Timing The payment described in subsection (a) shall be treated as made on the later of the initial due date of the return of tax for the taxable year or the date on which such return is filed. (c) Exclusion from gross income Gross income of the taxpayer shall be determined without regard to this section. (d) Denial of double benefit Solely for purposes of section 38, in the case of a taxpayer making an election under this section, the energy credit determined under section 48 shall be reduced by the amount of the portion of such credit with respect to which the taxpayer makes such election. (e) Application This section shall apply to property the construction of which begins before January 1, 2022. . (b) Clerical amendment The table of sections for subchapter B of chapter 65 is amended by adding at the end the following new item: Sec. 6431. Elective payment for energy property, electricity produced from certain renewable resources. . (c) Effective date The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act. 3. Extension of energy credit (a) In general Section 48(a)(6) of the