Bill > S1183

This bill amends the Internal Revenue Code to create a tax credit for maintaining and enhancing existing hydroelectric facilities, offering a 30% credit for specific improvements to dams made before January 1, 2035. Eligible improvements include adding or improving fish passages, maintaining water quality, promoting sediment transport, upgrading dam safety standards, improving public access to waterways, removing obsolete river obstructions, and developing remote dams. The bill specifically targets hydroelectric dams licensed by the Federal Energy Regulatory Commission or legally operating without a license, with a focus on projects that improve environmental sustainability and grid reliability. The legislation allows taxpayers to receive an elective payment or transfer the credit, and it covers various types of dam improvements, including those for remote dams serving isolated communities with limited electricity infrastructure. The tax credit applies to property placed in service after December 31, 2025, and aims to support clean energy production, enhance river ecosystems, and improve the resilience of the United States electric grid by providing financial incentives for strategic dam upgrades.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/1183/all-info