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Energy Sector Innovation Credit Act of 2021

Introduced: July 27, 2021 Introduced by: Crapo, Mike Republican · Idaho See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 27, 2021

Read twice and referred to the Committee on Finance.

Jul 27, 2021

Introduced in Senate

Plain-English summary Congressional Research Service

Energy Sector Innovation Credit Act of 2021

This bill adds new tax credits for investment in qualified emerging technology energy property and for the production of electricity from emerging energy technology. The bill defines qualified emerging energy property as property that is constructed, reconstructed, erected, or acquired by the taxpayer and is (1) a facility for the production of electricity from emerging energy technology, (2) carbon capture equipment, or (3) energy storage technology.

The bill also adds a new tax credit for the production of electricity from clean hydrogen. The bill defines clean hydrogen as hydrogen that is produced through a production method for which the rate of the greenhouse gas emission is greater than zero and not greater that 2,500g CO2-e per kilogram of hydrogen produced, or is equal to or less than zero.

What's happening now July 27, 2021

Read twice and referred to the Committee on Finance.

Committees of jurisdiction 1