Bill > HR5686

This bill, known as the "Battery Fire Prevention Act," introduces a comprehensive set of measures related to battery detection, recycling, and taxation. The bill establishes a new tax credit allowing businesses in the recycling industry to claim a 30% credit for purchasing battery detection devices that use advanced technologies like X-ray, artificial intelligence, or radio-frequency identification. Simultaneously, the bill imposes a 5% tax on battery sales by manufacturers, producers, and importers, with the revenue directed into a newly created Lithium Battery Buy-back Trust Fund. The bill also mandates the Department of Energy and Environmental Protection Agency to establish a National Battery Recycling Program within five years, which will identify and approve battery recycling facilities, award grants for battery collection systems, and potentially offer financial incentives to individuals who return used lithium batteries. Additionally, the bill requires federal agencies to prioritize purchasing batteries from approved recycling facilities. These provisions aim to enhance battery safety, promote recycling, and create a more sustainable approach to battery management, with all new regulations and taxes set to take effect after December 31, 2025.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/5686/all-info