118th Congress · HOUSE BILLBILL

H.R. 1562Restoring Energy Market Freedom Act

To amend the Internal Revenue Code of 1986 to repeal certain credits.

Taxation
Introduced Mar 10, 2023
Last action Mar 10, 2023
Pipeline · Bill → Law
Step 1
Introduced
Mar 10, 2023
Step 2
Referred
Mar 10, 2023
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS 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 bi...

Provisions · 2 sectionsIntroduced in House
Timeline · 2 actions
Mar 10, 2023
Introduced in House
Mar 10, 2023
Referred to the House Committee on Ways and Means.