3.0.0 2475 2023-01-01T23:42:45Z 2023-01-01T23:42:45Z Senate S 2021-07-27 117 ssfi00 Finance Committee Senate Standing Referred to 2021-07-27T16:31:47Z Energy Sector Innovation Credit Act of 2021 117 4720 HR 2022-07-28 ASSUMING FIRST SPONSORSHIP - Mr. Schweikert asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 4720, a bill originally introduced by Representative Reed, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection. 16:52:42 Related bill CRS 2021-07-27 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2021-07-27 Introduced in Senate IntroReferral 10000 9 Library of Congress C000880 Sen. Crapo, Mike [R-ID] Mike Crapo R ID N W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2021-07-27 True B001261 Sen. Barrasso, John [R-WY] John Barrasso R WY 2021-07-27 True B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO 2021-07-27 True R000584 Sen. Risch, James E. [R-ID] James Risch R ID E. 2021-07-27 True H000273 Sen. Hickenlooper, John W. [D-CO] John Hickenlooper D CO W. 2021-07-27 True C001075 Sen. Cassidy, Bill [R-LA] Bill Cassidy R LA 2021-09-13 False C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2022-03-30 False Taxation Administrative law and regulatory procedures Advanced technology and technological innovations Air quality Alternative and renewable resources Building construction Business expenses Climate change and greenhouse gases Congressional oversight Electric power generation and transmission Energy efficiency and conservation Energy prices Energy research Energy storage, supplies, demand Environmental technology Government information and archives Income tax credits Industrial facilities Nuclear power Product development and innovation Research and development Retail and wholesale trades State and local government operations Tax-exempt organizations Water use and supply Taxation 00 2021-07-27 Introduced in Senate 2021-09-01T13:23:03Z Energy Sector Innovation Credit Act of 2021

This bill adds new tax credits for investment in qualified emerging technology energy property and for the production of electricity from emerging energy technology. The bill defines qualified emerging energy property as property that is constructed, reconstructed, erected, or acquired by the taxpayer and is (1) a facility for the production of electricity from emerging energy technology, (2) carbon capture equipment, or (3) energy storage technology.

The bill also adds a new tax credit for the production of electricity from clean hydrogen. The bill defines clean hydrogen as hydrogen that is produced through a production method for which the rate of the greenhouse gas emission is greater than zero and not greater that 2,500g CO2-e per kilogram of hydrogen produced, or is equal to or less than zero.

]]> Energy Sector Innovation Credit Act of 2021 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide investment and production tax credits for emerging energy technologies, and for other purposes. Introduced in Senate IS Display Title Energy Sector Innovation Credit Act of 2021 Short Title(s) as Introduced Energy Sector Innovation Credit Act of 2021 Introduced in Senate IS Introduced in Senate 2021-07-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s2475is/xml/BILLS-117s2475is.xml 2021-07-27 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.