HR 310
119th Congress
House
Taxation
Restoring Energy Market Freedom Act
Introduced: January 9, 2025
Introduced by:
Perry, Scott
Republican
· Pennsylvania
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 9, 2025
Referred to the House Committee on Ways and Means.
Jan 9, 2025
Introduced in House
Plain-English summary
Restoring Energy Market Freedom Act
This bill repeals multiple business tax credits related to the production and sale of energy.
Specifically, the bill repeals the
- renewable electricity production tax credit (for electricity using wind, solar, or other specific types of renewable energy produced by a qualified facility for which construction began before 2025);
- clean electricity production tax credit (for electricity produced using a qualified facility that has no greenhouse gas emissions and was placed into service in 2025 or after);
- advanced nuclear production tax credit (for electricity produced and sold by a qualified nuclear power facility placed into service before 2021);
- zero-emission nuclear power production tax credit (for electricity produced and sold by a qualified nuclear power facility between 2024 and 2032);
- carbon sequestration tax credit (for the capture and sequestration of carbon oxide);
- clean hydrogen production tax credit (for clean hydrogen produced at a qualified clean production facility);
- advanced manufacturing production tax credit (for the production and sale of qualified components, including solar and wind energy components);
- energy investment tax credit (for investments in certain qualified energy property placed into service before 2025);
- clean electricity investment credit (for investments in qualified energy property placed into service in 2025 or after);
- qualifying advance coal project tax credit (for investments in qualifying advanced coal projects),
- clean coal investment tax credit (for investments in qualifying gasification projects);
- advanced energy project tax credit (for investments in qualifying advanced energy projects); and
- advanced manufacturing investment tax credit (for investments in semiconductor or semiconductor manufacturing equipment).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1