“To amend the Internal Revenue Code of 1986 to expand the advanced manufacturing production credit to include fusion energy components.”
No CRS summary available for this bill.
This section expands the advanced manufacturing production credit under IRC §45X to include fusion energy components (i.e., specified components such as high-temperature superconducting magnets, fusion chambers or plasma vacuum vessels, blanket systems, high-temperature superconductor tape or wire, high-energy lasers, and others integral to a fusion energy machine), providing a credit equal to 25% of the sales price for eligible components produced and sold after enactment. It establishes a phase-out for such components sold after December 31, 2031, under which the credit equals (1) 75% of the otherwise allowable amount in calendar year 2032, (2) 50% in 2033, (3) 25% in 2034, and (4) 0% thereafter. It defines fusion energy machine by reference to the Atomic Energy Act of 1954 (i.e., a machine used for electricity or process heat production) and provides detailed definitions for fusion energy components and related terms (e.g., high-voltage capacitor as a component storing and releasing energy above 1,000 volts).