S. 756: REVOKE Act of 2023

This bill expands prohibitions under the clean vehicle tax credit on battery components manufactured or assembled by a foreign entity of concern to

• a domestic corporation that is controlled by, operated by, or under the substantial influence of a foreign entity of concern (e.g., a state-backed Chinese company);
• a domestic corporation that relies on technology provided through a licensing agreement with a foreign entity of concern;
• a foreign corporation organized outside of China, Russia, North Korea, and Iran but that is owned more than 20% by 1 or more foreign entities of concern; or
• any member or partner of a joint venture or partnership in which at least one other partner or member is a foreign entity of concern.

The bill also renders ineligible for the qualifying advanced energy project tax credit any project that incorporates or utilizes technology provided through a licensing agreement with the foreign entities of concern described by this bill.

Written by the Congressional Research Service, Library of Congress.