S 5421
ARC Act of 2024
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Accelerating Reliable Capacity Act of 2024 (ARC Act) aims to boost investment in advanced nuclear energy projects by establishing a new program to provide loan guarantees through the Department of Energy. It introduces a ‘New Nuclear Investment Accelerator Program’ that requires projects to meet specific criteria, including detailed cost estimates and project delivery plans, to qualify for these guarantees. The bill also outlines procedures for repaying these guarantees, including potential overruns and enhanced financing terms, and includes provisions to facilitate tax credits for qualifying projects and allows for certain utilities and military installations to benefit from tax incentives.
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