H.R. 310 · 119th Congress
Restoring Energy Market Freedom Act
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PerrySponsor
This bill repeals multiple business tax credits related to the production and sale of energy.
What it does: CRS summary · Introduced in House · Jan 9, 2025
Restoring Energy Market Freedom Act
This bill repeals multiple business tax credits related to the production and sale of energy.
Specifically, the bill repeals the
- renewable electricity production tax credit (for electricity using wind, solar, or other specific types of renewable energy produced by a qualified facility for which construction began before 2025);
- clean electricity production tax credit (for electricity produced using a qualified facility that has no greenhouse gas emissions and was placed into service in 2025 or after);
- advanced nuclear production tax credit (for electricity produced and sold by a qualified nuclear power facility placed into service before 2021);
- zero-emission nuclear power production tax credit (for electricity produced and sold by a qualified nuclear power facility between 2024 and 2032);
- carbon sequestration tax credit (for the capture and sequestration of carbon oxide);
- clean hydrogen production tax credit (for clean hydrogen produced at a qualified clean production facility);
- advanced manufacturing production tax credit (for the production and sale of qualified components, including solar and wind energy components);
- energy investment tax credit (for investments in certain qualified energy property placed into service before 2025);
- clean electricity investment credit (for investments in qualified energy property placed into service in 2025 or after);
- qualifying advance coal project tax credit (for investments in qualifying advanced coal projects),
- clean coal investment tax credit (for investments in qualifying gasification projects);
- advanced energy project tax credit (for investments in qualifying advanced energy projects); and
- advanced manufacturing investment tax credit (for investments in semiconductor or semiconductor manufacturing equipment).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Restoring Energy Market Freedom Act
Latest action (Jan 9, 2025): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 9, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.