I 
116TH CONGRESS 
1ST SESSION H. R. 2314 
To amend the Internal Revenue Code of 1986 to provide for an investment 
tax credit related to the production of electricity from nuclear energy. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 12, 2019 
Mr. LAHOOD (for himself, Mr. KINZINGER, Mr. FITZPATRICK, Mr. RODNEY 
DAVIS of Illinois, Mrs. BUSTOS, Mr. WILLIAMS, Mr. MARCHANT, Mr. 
SMUCKER, Mr. KATKO, Mr. BROWN of Maryland, Mr. RUPPERSBERGER, 
and Mr. BOST) 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 provide 
for an investment tax credit related to the production 
of electricity from nuclear energy. 
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 ‘‘Nuclear Powers Amer-
ica Act of 2019’’. 
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SEC. 2. ENERGY CREDIT FOR NUCLEAR ENERGY PROP-
ERTY. 
(a) IN GENERAL.—Section 48(a)(3)(A) of the Inter-
nal Revenue Code of 1986 is amended in clause (vi) by 
striking ‘‘or’’, by inserting ‘‘or’’ at the end of clause (vii), 
and by adding at the end the following new clause: 
‘‘(viii) qualified nuclear energy prop-
erty,’’. 
(b) ELIGIBLE FOR 30-PERCENT CREDIT.—Section 
48(a)(2)(A)(i) of such Code is amended by striking ‘‘and’’ 
in subclause (III) and by adding at the end the following 
new subclause: 
‘‘(V) energy property described in 
paragraph (3)(A)(viii) but only with 
respect to property placed in service 
before January 1, 2026, and’’. 
(c) QUALIFIED NUCLEAR ENERGY PROPERTY.—Sec-
tion 48(c) of such Code is amended by adding at the end 
the following new paragraph: 
‘‘(5) QUALIFIED
NUCLEAR
ENERGY
PROP-
ERTY.— 
‘‘(A) IN
GENERAL.—The term ‘qualified 
nuclear energy property’ means any amounts 
paid or incurred for the refueling of, and any 
other expenditures described in section 263(a) 
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with respect to, a qualifying nuclear power 
plant. 
‘‘(B) 
QUALIFYING
NUCLEAR
POWER 
PLANT.—The term ‘qualifying nuclear power 
plant’ means a nuclear power plant which— 
‘‘(i) submitted an application for li-
cense renewal to the Nuclear Regulatory 
Commission in accordance with part 54 of 
title 10, Code of Federal Regulations, be-
fore January 1, 2026, or 
‘‘(ii) certified to the Secretary (at 
such time and in such form and in such 
manner as the Secretary prescribes) that 
such plant will submit an application for li-
cense renewal to the Nuclear Regulatory 
Commission in accordance with part 54 of 
title 10, Code of Federal Regulations, be-
fore January 1, 2026. 
‘‘(C) SPECIAL RULES.— 
‘‘(i) BASIS.—For purposes of sub-
section (a), the cumulative amounts paid 
or incurred by the taxpayer during the tax-
able year with respect to a qualifying nu-
clear power plant, which are properly 
chargeable to capital account, shall be 
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treated as the basis of the qualified nuclear 
energy property placed in service for that 
taxable year. 
‘‘(ii) PLACED IN SERVICE.—For pur-
poses of subsection (a), qualified nuclear 
energy property shall be treated as having 
been placed in service on the last day of 
the taxable year in which the taxpayer 
pays or incurs such amounts described in 
clause (i). 
‘‘(iii) 
RECAPTURE.—The 
Secretary 
shall, by regulations, provide for recap-
turing the benefit of any credit allowable 
under subsection (a) to any qualifying nu-
clear power plant which made a certifi-
cation pursuant to subparagraph (B) but 
does not file an application of license re-
newal to the Nuclear Regulatory Commis-
sion in accordance with part 54 of title 10, 
Code of Federal Regulations, before Janu-
ary 1, 2026.’’. 
(d) PHASEOUT OF 30-PERCENT CREDIT RATE FOR 
NUCLEAR ENERGY PROPERTY.—Section 48(a) of such 
Code is amended by adding at the end the following new 
paragraph: 
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‘‘(8) PHASEOUT FOR QUALIFIED NUCLEAR EN-
ERGY PROPERTY.—In the case of qualified nuclear 
energy property, the energy percentage determined 
under paragraph (2) shall be equal to— 
‘‘(A) in the case of any property placed in 
service after December 31, 2023, and before 
January 1, 2025, 26 percent, and 
‘‘(B) in the case of any property placed in 
service after December 31, 2024, and before 
January 1, 2026, 22 percent.’’. 
(e) COORDINATION WITH CREDIT FOR PRODUCTION 
FROM ADVANCED NUCLEAR POWER FACILITIES.—The 
last sentence of section 48(a)(3) is amended by inserting 
‘‘or 45J’’ after ‘‘section 45’’. 
(f) TRANSFER OF CREDIT BY CERTAIN PUBLIC EN-
TITIES.— 
(1) IN GENERAL.—Section 48 of such Code is 
amended by adding at the end the following new 
subsection: 
‘‘(e) SPECIAL RULE FOR QUALIFIED NUCLEAR EN-
ERGY PROPERTY.— 
‘‘(1) IN GENERAL.—In the case of any qualified 
nuclear energy property, if, with respect to a credit 
under subsection (a) for any taxable year— 
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‘‘(A) the taxpayer would be a qualified 
public entity, and 
‘‘(B) such entity elects the application of 
this subsection for such taxable year with re-
spect to all (or any portion specified in such 
election) of such credit, the eligible project part-
ner 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— 
‘‘(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. 
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‘‘(B) ELIGIBLE PROJECT PARTNER.—The 
term ‘eligible project partner’ means— 
‘‘(i) any person responsible for oper-
ating, maintaining, or repairing the quali-
fying nuclear power plant to which the 
credit under subsection (a) relates, 
‘‘(ii) any person who participates in 
the provision of the nuclear steam supply 
system to the qualifying nuclear power 
plant to which the credit under subsection 
(a) relates, 
‘‘(iii) any person who participates in 
the provision of nuclear fuel to the quali-
fying nuclear power plant 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 with respect to qualified nuclear 
energy property at the partnership level— 
‘‘(i) for purposes of paragraph (1)(A), 
a qualified public entity shall be treated as 
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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 subsection (e), such 
credit shall be taken into account in the first 
taxable year of the eligible project partner end-
ing with, or after, the qualified public entity’s 
taxable year with respect to which the credit 
was determined. 
‘‘(C) TREATMENT
OF
TRANSFER
UNDER 
PRIVATE USE RULES.—For purposes of section 
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 
COMPANIES.—Section 501(c)(12)(I) of such Code is 
amended by inserting ‘‘or 48(e)(1)’’ after ‘‘section 
45J(e)(1)’’. 
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