HR 2872
Resilience act of 2025
Resilience Act of 2025
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Resilience Act of 2025 modifies how certain public utility companies calculate their income taxes. Specifically, it reduces adjusted financial statement income by the amount of depreciation deductions related to repairs and maintenance of property covered by Section 168. This aims to provide support for infrastructure investments and encourage maintenance of public utility assets.
Key provisions
- Reduces adjusted financial statement income for public utility companies.
- Adjusts income by subtracting depreciation deductions (Section 167) related to repairs and maintenance.
- Considers ‘applicable public utility repair and maintenance deductions’ as defined in the bill.
- Property subject to this provision must be owned by the taxpayer and accounted for as depreciation expense on their financial statements.
- The changes apply to taxable years beginning after December 31, 2024.
Who is affected
- Public utility companies
- Taxpayers
- Taxpayers with public utility property
Notable changes
- Changes the calculation of adjusted financial statement income for public utilities.
- Introduces a specific definition of ‘applicable public utility repair and maintenance deductions’.
Fiscal impact
The bill may impact the tax revenue received by the federal government from public utility companies.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.
119th CONGRESS — 1st Session
H. R. 2872
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Internal Revenue Code of 1986 to require adjusted financial statement income to be reduced by the amount of certain deductions relating to repair and maintenance of certain public utility property.
This Act may be cited as the Repair Expenditures Support Infrastructure, Labor Investment, Energy Needs, and Creates Equity Act of 2025 RESILIENCE Act of 2025
or the
.
Adjusted financial statement income shall be—
reduced by—
appropriately adjusted—
to disregard any amount of depreciation expense that is taken into account on the taxpayer’s applicable financial statement with respect to such property, and
to take into account any other item specified by the Secretary in order to provide that such property is accounted for in the same manner as it is accounted for under this chapter.
For purposes of this paragraph, the term applicable public utility repair and maintenance deductions
means repair and maintenance deductions allowed to a taxpayer with respect to expenditures which are—
incurred by such taxpayer with respect to any property described in section 168(i)(10) which is owned by such taxpayer, and
taken into account as a depreciation expense on the taxpayer’s applicable financial statement with respect to such property.
The amendments made by this section shall apply to taxable years beginning after December 31, 2024.