IB 
Union Calendar No. 124 
115TH CONGRESS 
1ST SESSION H. R. 1551 
[Report No. 115–183] 
To amend the Internal Revenue Code of 1986 to modify the credit for 
production from advanced nuclear power facilities. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 15, 2017 
Mr. RICE of South Carolina (for himself, Mr. BLUMENAUER, Mr. DUNCAN of 
South Carolina, Mr. MARCHANT, Mr. DAVID SCOTT of Georgia, Ms. 
SINEMA, Mr. VEASEY, Mr. ALLEN, Mr. JOHNSON of Georgia, Mr. WIL-
SON of South Carolina, Mr. ROGERS of Alabama, Mr. BYRNE, Mr. 
BISHOP of Georgia, Mrs. NAPOLITANO, Mr. CLYBURN, Mr. JODY B. 
HICE of Georgia, Ms. SEWELL of Alabama, Mr. PAULSEN, Mr. SANFORD, 
Mr. SIMPSON, Mr. GOWDY, and Mr. FERGUSON) introduced the following 
bill; which was referred to the Committee on Ways and Means 
JUNE 20, 2017 
Additional sponsors: Mr. SCHWEIKERT, Mr. RENACCI, Mr. LOUDERMILK, Mr. 
KELLY of Pennsylvania, Mrs. ROBY, Mr. CARTER of Georgia, Mr. 
BACON, Mr. WOODALL, Mr. PALAZZO, Mr. GRAVES of Georgia, and Mr. 
COLLINS of Georgia 
JUNE 20, 2017 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on March 15, 2017] 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. MODIFICATIONS OF CREDIT FOR PRODUCTION 
FROM ADVANCED NUCLEAR POWER FACILI-
TIES. 
(a) 
TREATMENT
OF
UNUTILIZED
LIMITATION 
AMOUNTS.—Section 45J(b) of the Internal Revenue Code 
of 1986 is amended— 
(1) in paragraph (4), by inserting ‘‘or any 
amendment to’’ after ‘‘enactment of’’, and 
(2) by adding at the end the following new para-
graph: 
‘‘(5) ALLOCATION OF UNUTILIZED LIMITATION.— 
‘‘(A) IN
GENERAL.—Any unutilized na-
tional megawatt capacity limitation shall be al-
located by the Secretary under paragraph (3) as 
rapidly as is practicable after December 31, 
2020— 
‘‘(i) first to facilities placed in service 
on or before such date to the extent that 
such facilities did not receive an allocation 
equal to their full nameplate capacity, and 
‘‘(ii) then to facilities placed in service 
after such date in the order in which such 
facilities are placed in service. 
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‘‘(B) UNUTILIZED NATIONAL MEGAWATT CA-
PACITY LIMITATION.—The term ‘unutilized na-
tional megawatt capacity limitation’ means the 
excess (if any) of— 
‘‘(i) 6,000 megawatts, over 
‘‘(ii) the aggregate amount of national 
megawatt capacity limitation allocated by 
the Secretary before January 1, 2021, re-
duced by any amount of such limitation 
which was allocated to a facility which was 
not placed in service before such date. 
‘‘(C) COORDINATION
WITH
OTHER
PROVI-
SIONS.—In the case of any unutilized national 
megawatt capacity limitation allocated by the 
Secretary pursuant to this paragraph— 
‘‘(i) such allocation shall be treated for 
purposes of this section in the same manner 
as an allocation of national megawatt ca-
pacity limitation, and 
‘‘(ii) subsection (d)(1)(B) shall not 
apply to any facility which receives such al-
location.’’. 
(b) TRANSFER OF CREDIT BY CERTAIN PUBLIC ENTI-
TIES.— 
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(1) IN GENERAL.—Section 45J of such Code is 
amended— 
(A) by redesignating subsection (e) as sub-
section (f), and 
(B) by inserting after subsection (d) the fol-
lowing new subsection: 
‘‘(e) TRANSFER OF CREDIT BY CERTAIN PUBLIC ENTI-
TIES.— 
‘‘(1) IN GENERAL.—If, with respect to a credit 
under subsection (a) for any taxable year— 
‘‘(A) the taxpayer would be a qualified pub-
lic entity, and 
‘‘(B) such entity elects the application of 
this paragraph for such taxable year with respect 
to all (or any portion specified in such election) 
of such credit, 
the eligible project partner specified in such election 
(and not the qualified public entity) shall be treated 
as the taxpayer for purposes of this title with respect 
to such credit (or such portion thereof). 
‘‘(2) DEFINITIONS.—For purposes of this sub-
section— 
‘‘(A) QUALIFIED PUBLIC ENTITY.—The term 
‘qualified public entity’ means— 
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‘‘(i) a Federal, State, or local govern-
ment entity, or any political subdivision, 
agency, or instrumentality thereof, 
‘‘(ii) a mutual or cooperative electric 
company described in section 501(c)(12) or 
section 1381(a)(2), or 
‘‘(iii) a not-for-profit electric utility 
which has or had received a loan or loan 
guarantee under the Rural Electrification 
Act of 1936. 
‘‘(B) ELIGIBLE
PROJECT
PARTNER.—The 
term ‘eligible project partner’ means— 
‘‘(i) any person responsible for, or par-
ticipating in, the design or construction of 
the advanced nuclear power facility to 
which the credit under subsection (a) re-
lates, 
‘‘(ii) any person who participates in 
the provision of the nuclear steam supply 
system to the advanced nuclear power facil-
ity to which the credit under subsection (a) 
relates, 
‘‘(iii) any person who participates in 
the provision of nuclear fuel to the advanced 
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nuclear power facility to which the credit 
under subsection (a) relates, or 
‘‘(iv) any person who has an owner-
ship interest in such facility. 
‘‘(3) SPECIAL RULES.— 
‘‘(A) APPLICATION TO PARTNERSHIPS.—In 
the case of a credit under subsection (a) which 
is determined at the partnership level— 
‘‘(i) for purposes of paragraph (1)(A), 
a qualified public entity shall be treated as 
the taxpayer with respect to such entity’s 
distributive share of such credit, and 
‘‘(ii) the term ‘eligible project partner’ 
shall include any partner of the partner-
ship. 
‘‘(B) TAXABLE
YEAR
IN
WHICH
CREDIT 
TAKEN INTO ACCOUNT.—In the case of any credit 
(or portion thereof) with respect to which an 
election is made under paragraph (1), such cred-
it shall be taken into account in the first taxable 
year of the eligible project partner ending with, 
or after, the qualified public entity’s taxable year 
with respect to which the credit was determined. 
‘‘(C) TREATMENT OF TRANSFER UNDER PRI-
VATE
USE
RULES.—For purposes of section 
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141(b)(1), any benefit derived by an eligible 
project partner in connection with an election 
under this subsection shall not be taken into ac-
count as a private business use.’’. 
(2) SPECIAL RULE FOR PROCEEDS OF TRANS-
FERS FOR MUTUAL OR COOPERATIVE ELECTRIC COM-
PANIES.—Section 501(c)(12) of such Code is amended 
by adding at the end the following new subparagraph: 
‘‘(I) In the case of a mutual or cooperative 
electric company described in this paragraph or 
an organization described in section 1381(a)(2), 
income received or accrued in connection with 
an election under section 45J(e)(1) shall be treat-
ed as an amount collected from members for the 
sole purpose of meeting losses and expenses.’’. 
(c) EFFECTIVE DATES.— 
(1) TREATMENT
OF
UNUTILIZED
LIMITATION 
AMOUNTS.—The amendment made by subsection (a) 
shall take effect on the date of the enactment of this 
Act. 
(2) TRANSFER OF CREDIT BY CERTAIN PUBLIC 
ENTITIES.—The amendments made by subsection (b) 
shall apply to taxable years beginning after the date 
of the enactment of this Act. 
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Union Calendar No. 124 
115TH CONGRESS 
1ST SESSION 
H. R. 1551 
[Report No. 115–183] 
A BILL 
To amend the Internal Revenue Code of 1986 to 
modify the credit for production from advanced 
nuclear power facilities. 
JUNE 20, 2017 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
VerDate Sep 11 2014 
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