Energy Sector Innovation Credit Act of 2021
USA117th CongressHR-4720| House
| Updated: 7/28/2022
Tom Reed
Republican Representative
New York
Cosponsors (10)
Ways and Means Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Energy Sector Innovation Credit Act of 2021 This bill adds new tax credits for investment in qualified emerging technology energy property and for the production of electricity from emerging energy technology. The bill defines qualified emerging energy property as property that is constructed, reconstructed, erected, or acquired by the taxpayer and is (1) a facility for the production of electricity from emerging energy technology, (2) carbon capture equipment, or (3) energy storage technology. The bill also adds a new tax credit for the production of electricity from clean hydrogen. The bill defines clean hydrogen as hydrogen that is produced through a production method for which the rate of the greenhouse gas emission is greater than zero and not greater that 2,500g CO2-e per kilogram of hydrogen produced, or is equal to or less than zero.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
ASSUMING FIRST SPONSORSHIP - Mr. Schweikert asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 4720, a bill originally introduced by Representative Reed, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.
Taxation
Administrative law and regulatory proceduresAdvanced technology and technological innovationsAir qualityAlternative and renewable resourcesBuilding constructionBusiness expensesClimate change and greenhouse gasesCongressional oversightElectric power generation and transmissionEnergy efficiency and conservationEnergy pricesEnergy researchEnergy storage, supplies, demandEnvironmental technologyGovernment information and archivesIncome tax creditsIndustrial facilitiesNuclear powerProduct development and innovationResearch and developmentRetail and wholesale tradesState and local government operationsTax-exempt organizationsWater use and supply
Energy Sector Innovation Credit Act of 2021
USA117th CongressHR-4720| House
| Updated: 7/28/2022
Energy Sector Innovation Credit Act of 2021 This bill adds new tax credits for investment in qualified emerging technology energy property and for the production of electricity from emerging energy technology. The bill defines qualified emerging energy property as property that is constructed, reconstructed, erected, or acquired by the taxpayer and is (1) a facility for the production of electricity from emerging energy technology, (2) carbon capture equipment, or (3) energy storage technology. The bill also adds a new tax credit for the production of electricity from clean hydrogen. The bill defines clean hydrogen as hydrogen that is produced through a production method for which the rate of the greenhouse gas emission is greater than zero and not greater that 2,500g CO2-e per kilogram of hydrogen produced, or is equal to or less than zero.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
ASSUMING FIRST SPONSORSHIP - Mr. Schweikert asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 4720, a bill originally introduced by Representative Reed, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.
Tom Reed
Republican Representative
New York
Cosponsors (10)
Ways and Means Committee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresAdvanced technology and technological innovationsAir qualityAlternative and renewable resourcesBuilding constructionBusiness expensesClimate change and greenhouse gasesCongressional oversightElectric power generation and transmissionEnergy efficiency and conservationEnergy pricesEnergy researchEnergy storage, supplies, demandEnvironmental technologyGovernment information and archivesIncome tax creditsIndustrial facilitiesNuclear powerProduct development and innovationResearch and developmentRetail and wholesale tradesState and local government operationsTax-exempt organizationsWater use and supply