Financing Our Energy Future Act
Official title: A bill to amend the Internal Revenue Code of 1986 to extend the publicly traded partnership ownership structure to energy power generation projects and transportation fuels, and for other purposes.
| Date | Chamber | What was voted on | Result | Yes–No | |
|---|---|---|---|---|---|
| Nov 30, 2010 | Senate · vote #257 | On Passage of the Bill S. 510 | Passed | 73–25 | See who voted → |
| Nov 18, 2010 | Senate · vote #251 | On the Motion to Proceed S. 510 | Agreed To | 57–27 | See who voted → |
| Nov 17, 2010 | Senate · vote #250 | On the Cloture Motion S. 510 | Agreed To | 74–25 | See who voted → |
Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.
Read twice and referred to the Committee on Finance.
Financing Our Energy Future Act
This bill allows a publicly traded partnership to derive income from certain clean energy-related activities and still be treated as a partnership for federal income tax purposes.
As background, a publicly traded partnership is a partnership whose interests are traded on an established securities market (or readily tradable on a secondary market). A publicly traded partnership generally is treated as a corporation for federal income tax purposes unless 90% or more of such partnership’s gross income is qualifying income.
Under current law, qualifying income includes
- interest and dividends;
- real property rents;
- gain from the sale (or disposition) of real property;
- income from certain activities related to minerals and natural resources, source carbon dioxide, and the transportation or storage of certain fuels; and
- gain from the sale (or disposition) of a capital asset or commodities.
Under the bill, the qualifying income is expanded to include income derived from
- electric power (or thermal energy) generated from renewable energy sources (e.g., wind and solar energy), qualified gasification projects, or advanced nuclear facilities;
- accepting or processing open-loop biomass or municipal solid waste (by certain facilities);
- the storage of electric power or thermal energy using certain energy storage technology;
- the generation, storage, or distribution of electric power (or thermal energy) using combined heat and power system property;
- fuels that use certain carbon oxides as primary feedstock;
- certain renewable chemicals;
- transportation or storage of liquefied or compressed hydrogen;
- the conversion of renewable biomass; and
- certain carbon capture and sequestration facilities.
- Introduced in Senate Formatted Text PDF Formatted XML
- NUCLEAR ENERGY INSTITUTE, INC.
- NUCLEAR ENERGY INSTITUTE, INC.
- NUCLEAR ENERGY INSTITUTE, INC.
- MARATHON PETROLEUM COMPANY LP
- ROCK CREEK COUNSEL
- ROCK CREEK COUNSEL
Bodies those filers lobbied
- HOUSE OF REPRESENTATIVES
- SENATE
- Environmental Protection Agency (EPA)
- Energy, Dept of
- Executive Office of the President (EOP)
- Treasury, Dept of
- Defense, Dept of (DOD)
- Nuclear Regulatory Commission (NRC)
Cite this page
U.S. Congress. (2026). S. 510: Financing Our Energy Future Act. 119th Congress. Open America. https://openamerica.io/bill/119-S-510/
"S. 510: Financing Our Energy Future Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-S-510/.
S. 510, 119th Cong. (2026), https://openamerica.io/bill/119-S-510/.
[S. 510: Financing Our Energy Future Act](https://openamerica.io/bill/119-S-510/)