“To amend the Internal Revenue Code of 1986 to reverse certain energy-related modifications enacted by Public Law 119-21.”
No CRS summary available for this bill.
This section reverses certain modifications to energy-related tax provisions made by P.L. 119-21 as follows: (1) terminates the Energy Efficient Commercial Buildings Deduction by striking IRC §179D(i); (2) extends the New Energy Efficient Home Credit through December 31, 2032 (from June 30, 2026); (3) extends the construction date cutoff for the Clean Hydrogen Production Credit to January 1, 2033 (from January 1, 2028); (4) for the Clean Electricity Production Credit, eliminates the termination provision by striking IRC §45Y(d)(4) and related references, and modifies the phase-out trigger to the later of the calendar year in which U.S. electricity production greenhouse gas emissions equal or fall below 25% of 2022 levels or 2032; and (5) for the Clean Electricity Investment Credit, eliminates the termination provision by striking IRC §48E(e)(4) and related references.