118th Congress Taxation
H.R. 1562: Restoring Energy Market Freedom Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill repeals specified business tax credits related to electricity produced from certain renewable resources and alternative energy and investment credits related to energy projects.
Specifically, the bill repeals tax credits (i.e., money that can be offset against a tax liability) for businesses for (1) electricity produced from certain renewable resources (e.g., solar energy); (2) production of electricity from advanced nuclear power facilities; (3) carbon dioxide sequestration; (4) zero-emission nuclear power production; (5) production of clean hydrogen; (6) production and sale of specified components, such as solar energy components; and (7) production of clean electricity.
The bill also repeals tax credits for investments related to certain energy projects, including credits for (1) geothermal energy property placed in service, (2) qualifying coal projects, (3) qualifying advanced energy projects, (4) advanced manufacturing investments, and (5) clean electricity investments.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Andy Biggs R-AZOriginal
- Andrew Ogles R-TNOriginal
- Chip Roy R-TXOriginal
- Eric Burlison R-MO
- Paul Gosar R-AZ
- Ben Cline R-VA
Who scored on this bill
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Other bills by Scott Perry
History
- Introduced in the House by Scott Perry.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.