Bill > S510

This bill amends the Internal Revenue Code to expand the types of energy-related activities that can qualify for a publicly traded partnership (PTP) ownership structure, which is a tax-advantaged business arrangement. Specifically, the bill broadens the existing definition of qualifying energy activities to include a wide range of green energy and low-carbon technologies. These new qualifying activities include generating electric power or thermal energy using renewable resources, operating energy property, processing biomass or municipal solid waste, storing electric power, using combined heat and power systems, transporting or storing various types of fuels (including hydrogen and renewable fuels), producing fuels from captured carbon, generating power from gasification projects, capturing carbon dioxide, developing advanced nuclear facilities, and producing renewable chemicals with specific biobased content requirements. The amendments will take effect for taxable years beginning after December 31, 2025, potentially providing new financial and tax incentives for companies developing innovative and environmentally-friendly energy technologies by allowing them to structure themselves as publicly traded partnerships, which can offer more flexible and potentially more tax-efficient business operations.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/510/all-info