3.0.0 1562 2024-07-24T15:21:27Z 2024-07-24T15:21:27Z House H HR 2023-03-10 118 [Congressional Record Volume 169, Number 46 (Friday, March 10, 2023)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. PERRY:H.R. 1562.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1 of the United StatesConstitutionThe single subject of this legislation is:This legislation repeals energy tax credits.[Page H1281]]]> hswm00 Ways and Means Committee House Standing Referred to 2023-03-10T14:03:10Z 2023-03-10 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2023-03-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-03-10 Introduced in House IntroReferral 1000 9 Library of Congress P000605 Rep. Perry, Scott [R-PA-10] Scott Perry R PA 10 N R000614 Rep. Roy, Chip [R-TX-21] Chip Roy R TX 21 2023-03-10 True B001302 Rep. Biggs, Andy [R-AZ-5] Andy Biggs R AZ 5 2023-03-10 True O000175 Rep. Ogles, Andrew [R-TN-5] Andrew Ogles R TN 5 2023-03-10 True G000565 Rep. Gosar, Paul A. [R-AZ-9] Paul Gosar R AZ A. 9 2023-04-20 False B001316 Rep. Burlison, Eric [R-MO-7] Eric Burlison R MO 7 2023-04-20 False C001118 Rep. Cline, Ben [R-VA-6] Ben Cline R VA 6 2023-05-15 False Taxation Taxation 2023-07-25T14:45:17Z 00 2023-03-10 Introduced in House 2024-03-22T13:01:56Z Restoring Energy Market Freedom Act

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.

]]> Restoring Energy Market Freedom Act Display Title 45 Restoring Energy Market Freedom Act 2024-07-24T15:21:27Z Short Title(s) as Introduced 101 Restoring Energy Market Freedom Act 2024-05-24T13:38:30Z Introduced in House IH Official Title as Introduced 6 To amend the Internal Revenue Code of 1986 to repeal certain credits. 2024-03-18T20:27:29Z Introduced in House IH Introduced in House 2023-03-10T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr1562ih/xml/BILLS-118hr1562ih.xml 2023-03-10 Referred to the House Committee on Ways and Means. 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.