Bill
Bill > S2994
summary
Introduced
09/28/2023
09/28/2023
In Committee
09/28/2023
09/28/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to support upgrades at existing hydroelectric dams in order to increase clean energy production, improve the resiliency and reliability of the United States electric grid, enhance the health of the Nation’s rivers and associated wildlife habitats, and for other purposes.
AI Summary
This bill aims to amend the Internal Revenue Code to provide a tax credit for upgrading and maintaining existing hydroelectric dams. The credit, which is equal to 30% of the cost of eligible "hydropower improvement property," can be used to fund projects that enhance fish passage, improve water quality, promote sediment transport, upgrade dams to meet safety standards, improve public access, remove obsolete river obstructions, or install new remote dams. The bill also allows for the elective payment of the credit and the transfer of the credit to other entities. The amendments in the bill would apply to property placed in service after December 31, 2022.
Committee Categories
Budget and Finance
Sponsors (13)
Maria Cantwell (D)*,
Bill Cassidy (R),
Susan Collins (R),
Deb Fischer (R),
Kirsten Gillibrand (D),
Angus King (I),
Lisa Murkowski (R),
Patty Murray (D),
Gary Peters (D),
Jeanne Shaheen (D),
Debbie Stabenow (D),
Dan Sullivan (R),
Thom Tillis (R),
Last Action
Read twice and referred to the Committee on Finance. (on 09/28/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/2994/all-info |
| BillText | https://www.congress.gov/118/bills/s2994/BILLS-118s2994is.pdf |
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