Bill > S5222

This bill aims to amend the Internal Revenue Code to provide a tax credit for investments in upgrading existing hydroelectric dams. The credit, worth 30% of the cost, would support improvements such as adding or upgrading fish passage, maintaining water quality, promoting sediment transport, upgrading dams to safety standards, improving public access, removing obsolete river obstructions, and installing new remote dams. The bill also allows for elective payment and transfer of the credit, and includes other conforming amendments to the tax code. The goal is to increase clean energy production, improve grid resilience and reliability, and enhance the health of rivers and associated wildlife habitats.