This bill changes parts of the Internal Revenue Code to reverse or alter several energy-related tax provisions that were put into Public Law 119-21. Key changes in the bill text: it strikes subsection (i) of section 179D (the Energy Efficient Commercial Buildings Deduction) with an effective date tied to section 70507 of Public Law 119-21; it extends the deadline in section 45L(h) (New Energy Efficient Home Credit) from June 30, 2026 to December 31, 2032, effective as if included in section 70508 of Public Law 119-21; it moves the facility construction date in section 45V(c)(3)(C) (Clean Hydrogen Production Credit) from January 1, 2028 to January 1, 2033, effective as if included in section 70511 of Public Law 119-21; it amends section 45Y(d) (Clean Electricity Production Credit) by removing paragraph (4), adjusting wording in paragraph (1), and changing the phase-out date in 45Y(d)(3) so the phase-out occurs the later of (A) the calendar year the Secretary finds U.S. electricity production greenhouse gas emissions are no more than 25% of 2022 levels, or (B) 2032, effective as if included in section 70512(a) of Public Law 119-21; and it amends section 48E(e) (Clean Electricity Investment Credit) by removing paragraph (4), effective as if included in section 70513(a) of Public Law 119-21.
The bill changes deadlines and conditions for several energy-related tax credits and a commercial buildings deduction. Those named in the bill text who might be directly affected include owners of commercial buildings, builders of energy-efficient homes, developers and builders of clean hydrogen facilities, electricity producers, and investors in clean electricity projects. The bill text sets new dates or removes certain termination language; it also ties one clean electricity phase-out to a greenhouse gas emissions benchmark or 2032, whichever is later. For specific effects on your taxes or projects, consult a tax professional or the full text of the Internal Revenue Code sections listed in the bill.
No publicly available information on federal budget costs, savings, or revenue effects is included in the bill text or metadata provided.
No publicly available information in the bill text or metadata describes supporters' stated reasons or arguments.
No publicly available information in the bill text or metadata describes opponents' stated reasons or arguments.