Bill > HR3291

This bill aims to modify the Internal Revenue Code by making several key changes to clean energy tax credits and benefits. Specifically, the bill terminates the clean electricity production credit and clean electricity investment credit for wind and solar energy projects that begin construction after December 31, 2030, while maintaining existing guidance for determining when construction begins. Additionally, the bill introduces provisions to deny clean energy tax benefits to companies with connections to what it defines as "countries of concern" - specifically China, Russia, Iran, and North Korea. These disqualified companies would be ineligible for a range of tax credits and incentives related to clean energy, including credits for electric vehicles, alternative fuels, renewable energy production, and carbon capture. The bill requires the Treasury Secretary to issue implementation guidance within 180 days and sets the effective date for these provisions as 180 days after the guidance is published. The goal appears to be both limiting long-term subsidies for wind and solar energy and preventing companies from countries deemed strategic competitors from benefiting from U.S. clean energy tax incentives.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/3291/all-info