I 
118TH CONGRESS 
1ST SESSION H. R. 3690 
To amend the Internal Revenue Code of 1986 to extend the publicly traded 
partnership ownership structure to energy power generation projects and 
transportation fuels, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 25, 2023 
Mr. ESTES (for himself and Mr. THOMPSON of California) introduced the 
following bill; which was referred to the Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to extend 
the publicly traded partnership ownership structure to 
energy power generation projects and transportation 
fuels, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financing Our Energy 
Future Act’’. 
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as so in effect), or the storage or transpor-
tation of such fuel, 
‘‘(ix) the production, storage, or 
transportation of any fuel which— 
‘‘(I) uses as its primary feedstock 
carbon oxides captured from an an-
thropogenic source or the atmosphere, 
‘‘(II) does not use as its primary 
feedstock carbon oxide which is delib-
erately released from naturally occur-
ring subsurface springs, and 
‘‘(III) is determined by the Sec-
retary, after consultation with the 
Secretary of Energy and the Adminis-
trator of the Environmental Protec-
tion Agency, to achieve a reduction of 
not less than a 60 percent in lifecycle 
greenhouse gas emissions (as defined 
in section 211(o)(1)(H) of the Clean 
Air Act, as in effect on the date of the 
enactment of this clause) compared to 
baseline lifecycle greenhouse gas emis-
sions 
(as 
defined 
in 
section 
211(o)(1)(C) of such Act, as so in ef-
fect), 
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‘‘(x) the generation of electric power 
from a qualifying gasification project (as 
defined in section 48B(c)(1) without re-
gard to subparagraph (C)) that is de-
scribed in section 48(d)(1)(B), 
‘‘(xi) in the case of a qualified facility 
(as defined in section 45Q(d), without re-
gard to any date by which construction of 
the facility is required to begin) not less 
than 50 percent (30 percent in the case of 
a facility placed in service before January 
1, 2022) of the total carbon oxide produc-
tion of which is qualified carbon oxide (as 
defined in section 45Q(c))— 
‘‘(I) the generation, availability 
for such generation, or storage of elec-
tric power at such facility, or 
‘‘(II) the capture of carbon diox-
ide by such facility, or 
‘‘(xii) the production, storage, or 
transportation of any renewable chemical 
which— 
‘‘(I) is produced in the United 
States (or in a territory or possession 
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of the United States) from renewable 
biomass, 
‘‘(II) is not less than 95 percent 
biobased content, 
‘‘(III) is not sold or used for the 
production of any food, feed, fuel, or 
pharmaceuticals, 
‘‘(IV) is approved to use the 
USDA Certified Biobased Product 
label under section 9002(b) of the 
Farm Security and Rural Investment 
Act of 2002 (7 U.S.C. 8102(b)), and 
‘‘(V) is a chemical intermediate 
(as such term is defined in section 
3201.109 of title 7, Code of Federal 
Regulations 
(or 
successor 
regula-
tions)),’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2023. 
Æ 
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