Fusion Advanced Manufacturing Parity Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
This bill, the Fusion Advanced Manufacturing Parity Act, modifies the Internal Revenue Code to expand the existing advanced manufacturing production credit to include components used in fusion energy machines. Specifically, it defines ‘fusion energy component’ broadly, encompassing various parts and systems needed for fusion energy production, and introduces a phased-out credit for these components starting in 2032, decreasing annually until 2034. The bill also clarifies the definition of a ‘fusion energy machine’ and lists specific materials and components considered part of fusion energy systems.
Key provisions
- Expands the advanced manufacturing production credit to include ‘fusion energy components’ as defined by the bill.
- Defines ‘fusion energy component’ to encompass a wide range of parts, including magnets, vacuum vessels, and fuel processing systems.
- Establishes a phased-out credit for fusion energy components, starting at 25% in 2026 and decreasing annually until 0% in 2034.
- Defines ‘fusion energy machine’ as a facility used for electricity or process heat generation using fusion technology.
- Lists specific materials and components considered part of fusion energy systems, such as tungsten, vanadium, and deuterium.
- Clarifies the definition of high-temperature superconducting magnets.
- Modifies the definition of a ‘blanket system’ to include components for heat removal and tritium generation.
- Specifies an effective date of December 31, 2025, for the new provisions.
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