A bill to amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property.

Bill: 119-s-1043
Sponsor: full_name: Sen. Graham, Lindsey [R-SC]
Introduced: 2025-03-13
Policy area: Taxation
Latest action: action_date: 2025-03-13
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2025-03-13
action_desc: Introduced in Senate
text: <p>This bill extends the energy investment tax credit for qualified fuel cell property for eight years.</p><p>Under current law, an energy investment tax credit of up to 30% of the cost of qualified fuel cell property is available provided construction of the qualified fuel cell property begins on or before December 31, 2024. This bill extends the energy investment tax credit to include qualified fuel cell property where construction begins on or before December 31, 2032.</p>

tv_txt: II 119th CONGRESS 1st Session S. 1043 IN THE SENATE OF THE UNITED STATES March 13, 2025 Mr. Graham (for himself and Mr. Blumenthal ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property.

1. Extension of energy credit for qualified fuel cell property (a) In general Section 48(c)(1)(E) of the Internal Revenue Code of 1986 is amended by striking January 1, 2025 and inserting January 1, 2033 . (b) Effective date The amendments made by this section shall apply to property the construction of which begins after December 31, 2024.