Energy Opportunity Zones Act of 2018 This bill amends the Internal Revenue Code to extend several tax credits related to renewable energy for facilities and energy property located in or placed in service within an energy opportunity zone. An "energy opportunity zone" is a municipality or county that has within its boundaries a nuclear power plant that ceased operation during the 10-year period beginning on January 1, 2018. The bill also expands the tax credit for investments in energy property to include (1) certain offshore wind property that is located within 50 miles from the boundary of an energy opportunity zone; and (2) other specified equipment that receives, stores, and delivers energy and has a capacity of at least 5 megawatt hours.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Alternative and renewable resourcesBusiness investment and capitalEconomic developmentElectric power generation and transmissionIncome tax creditsNuclear power
To amend the Internal Revenue Code of 1986 to provide for energy opportunity zones.
USA115th CongressHR-5441| House
| Updated: 4/9/2018
Energy Opportunity Zones Act of 2018 This bill amends the Internal Revenue Code to extend several tax credits related to renewable energy for facilities and energy property located in or placed in service within an energy opportunity zone. An "energy opportunity zone" is a municipality or county that has within its boundaries a nuclear power plant that ceased operation during the 10-year period beginning on January 1, 2018. The bill also expands the tax credit for investments in energy property to include (1) certain offshore wind property that is located within 50 miles from the boundary of an energy opportunity zone; and (2) other specified equipment that receives, stores, and delivers energy and has a capacity of at least 5 megawatt hours.
Alternative and renewable resourcesBusiness investment and capitalEconomic developmentElectric power generation and transmissionIncome tax creditsNuclear power