Bill > S622

This bill aims to enhance the qualifying advanced energy project credit under Section 48C of the Internal Revenue Code. The key provisions include: expanding the definition of "qualifying advanced energy project" to include additional technologies such as energy conservation, electric and fuel cell vehicles, and hybrid vehicles; increasing the total amount of credits that can be allocated under the program by $8 billion, with up to $4 billion reserved for projects not located in certain distressed areas; extending the timeline for projects to be placed in service and for the Secretary of Energy to make determinations on certifications; and authorizing $500,000 for the Department of Energy to provide technical assistance to certain states and organizations to help with applications for the credit. The amendments would apply to property placed in service after December 31, 2021.

Budget and Finance

https://www.congress.gov/bill/117th-congress/senate-bill/622/all-info