Bill > S1043

This bill amends the Internal Revenue Code of 1986 to extend the tax credit (known as an "energy credit") for qualified fuel cell property. Specifically, the bill changes the expiration date of the existing tax credit from January 1, 2025, to January 1, 2033, effectively giving taxpayers an additional eight years to claim this credit for investments in fuel cell technology. The changes will apply to fuel cell property whose construction begins after December 31, 2024. Fuel cell property typically refers to systems that generate electricity through an electrochemical process, often using hydrogen as a fuel source, which can provide clean and efficient energy for various applications. By extending the tax credit, the bill aims to continue incentivizing investment in and development of fuel cell technologies, which can contribute to reducing carbon emissions and promoting alternative energy sources.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/1043/all-info