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Energy Sector Innovation Credit Act of 2021

USA117th CongressS-2475| Senate 
| Updated: 7/27/2021
Mike Crapo

Mike Crapo

Republican Senator

Idaho

Cosponsors (7)
Bill Cassidy (Republican)James E. Risch (Republican)Christopher A. Coons (Democratic)John W. Hickenlooper (Democratic)Sheldon Whitehouse (Democratic)John Barrasso (Republican)Michael F. Bennet (Democratic)

Finance 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
Jul 27, 2021
Introduced in Senate
Jul 27, 2021
Read twice and referred to the Committee on Finance.
Jul 28, 2022

Latest Companion Bill Action

HR 117-4720
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.
  • July 27, 2021
    Introduced in Senate


  • July 27, 2021
    Read twice and referred to the Committee on Finance.


  • July 28, 2022

    Latest Companion Bill Action

    HR 117-4720
    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

Related Bills

  • HR 117-4720: Energy Sector Innovation Credit Act of 2021
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 CongressS-2475| Senate 
| Updated: 7/27/2021
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 Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 27, 2021
Introduced in Senate
Jul 27, 2021
Read twice and referred to the Committee on Finance.
Jul 28, 2022

Latest Companion Bill Action

HR 117-4720
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.
  • July 27, 2021
    Introduced in Senate


  • July 27, 2021
    Read twice and referred to the Committee on Finance.


  • July 28, 2022

    Latest Companion Bill Action

    HR 117-4720
    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.
Mike Crapo

Mike Crapo

Republican Senator

Idaho

Cosponsors (7)
Bill Cassidy (Republican)James E. Risch (Republican)Christopher A. Coons (Democratic)John W. Hickenlooper (Democratic)Sheldon Whitehouse (Democratic)John Barrasso (Republican)Michael F. Bennet (Democratic)

Finance Committee

Taxation

Related Bills

  • HR 117-4720: Energy Sector Innovation Credit Act of 2021
  • 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