HR 8482
To amend the Internal Revenue Code of 1986 to modify certain investment credit rules with respect to nuclear facilities.
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- Passed House
- Passed Senate
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Bill overview
This bill changes rules about investment tax credits for nuclear facilities. Specifically, it removes a limitation that previously restricted these credits to public utility property. It also removes a limitation on how much progress can be deducted for these facilities. These changes are intended to encourage investment in nuclear energy production.
Key provisions
- Removes the restriction that investment tax credits for nuclear facilities were limited to public utility property.
- Removes the limitation on progress expenditures for nuclear facilities.
- Defines ‘qualified facility’ as any nuclear facility using nuclear energy to produce electricity.
- Specifies that these changes apply to taxable years beginning after December 31, 2026.
Who is affected
- Nuclear facilities
- Investors in nuclear facilities
- Taxpayers claiming investment tax credits
Notable changes
- Expands the types of property eligible for investment tax credits related to nuclear facilities.
- Allows for the full deduction of progress expenditures for eligible nuclear facilities.
Fiscal impact
The bill could increase federal tax revenue by allowing more investment tax credits to be claimed for nuclear facilities.
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119th CONGRESS — 2d Session
H. R. 8482
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Internal Revenue Code of 1986 to modify certain investment credit rules with respect to nuclear facilities.
Section 50(d)(2) of the Internal Revenue Code of 1986 is amended in the matter preceding subparagraph (A), by inserting to any qualified facility (as defined in section 48E(b)(3)(A)) which uses nuclear energy to produce electricity or
before to any energy storage technology
.
qualified facility orbefore
energy storage technologyeach place it appears.
Section 6418(g)(4) of such Code is amended by adding at the end the following: The preceding sentence shall not apply with respect to any eligible credit to the extent such credit is determined with respect to any qualified facility (as defined in section 48E(b)(3)(A)) which uses nuclear energy to produce electricity.
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