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Restoring Energy Market Freedom Act

USA118th CongressHR-1562| House 
| Updated: 3/10/2023
Scott Perry

Scott Perry

Republican Representative

Pennsylvania

Cosponsors (6)
Paul A. Gosar (Republican)Chip Roy (Republican)Andrew Ogles (Republican)Andy Biggs (Republican)Ben Cline (Republican)Eric Burlison (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Restoring Energy Market Freedom Act This bill repeals specified business tax credits related to electricity produced from certain renewable resources and alternative energy and investment credits related to energy projects. Specifically, the bill repeals tax credits (i.e., money that can be offset against a tax liability) for businesses for (1) electricity produced from certain renewable resources (e.g., solar energy); (2) production of electricity from advanced nuclear power facilities; (3) carbon dioxide sequestration; (4) zero-emission nuclear power production; (5) production of clean hydrogen; (6) production and sale of specified components, such as solar energy components; and (7) production of clean electricity. The bill also repeals tax credits for investments related to certain energy projects, including credits for (1) geothermal energy property placed in service, (2) qualifying coal projects, (3) qualifying advanced energy projects, (4) advanced manufacturing investments, and (5) clean electricity investments.
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Timeline
Mar 10, 2023
Introduced in House
Mar 10, 2023
Referred to the House Committee on Ways and Means.
  • March 10, 2023
    Introduced in House


  • March 10, 2023
    Referred to the House Committee on Ways and Means.

Taxation

Restoring Energy Market Freedom Act

USA118th CongressHR-1562| House 
| Updated: 3/10/2023
Restoring Energy Market Freedom Act This bill repeals specified business tax credits related to electricity produced from certain renewable resources and alternative energy and investment credits related to energy projects. Specifically, the bill repeals tax credits (i.e., money that can be offset against a tax liability) for businesses for (1) electricity produced from certain renewable resources (e.g., solar energy); (2) production of electricity from advanced nuclear power facilities; (3) carbon dioxide sequestration; (4) zero-emission nuclear power production; (5) production of clean hydrogen; (6) production and sale of specified components, such as solar energy components; and (7) production of clean electricity. The bill also repeals tax credits for investments related to certain energy projects, including credits for (1) geothermal energy property placed in service, (2) qualifying coal projects, (3) qualifying advanced energy projects, (4) advanced manufacturing investments, and (5) clean electricity investments.
View Full Text

Suggested Questions

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

Timeline
Mar 10, 2023
Introduced in House
Mar 10, 2023
Referred to the House Committee on Ways and Means.
  • March 10, 2023
    Introduced in House


  • March 10, 2023
    Referred to the House Committee on Ways and Means.
Scott Perry

Scott Perry

Republican Representative

Pennsylvania

Cosponsors (6)
Paul A. Gosar (Republican)Chip Roy (Republican)Andrew Ogles (Republican)Andy Biggs (Republican)Ben Cline (Republican)Eric Burlison (Republican)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted