Legis Daily

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Advanced Manufacturing Production Credit".

USA118th CongressSJRES-119| Senate 
| Updated: 12/5/2024
Tom Cotton

Tom Cotton

Republican Senator

Arkansas

Cosponsors (1)
Rick Scott (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This joint resolution nullifies the final rule issued by the Internal Revenue Service titled Advanced Manufacturing Production Credit and published on October 28, 2024. The final rule provides guidance on the tax credit for the production and sale of solar and wind components, inverters, some battery components, and critical minerals, which was added by the Inflation Reduction Act of 2022. The rule, among other things, defines what produced by the taxpayer means for purposes of determining eligibility for the tax credit, details the requirements regarding sales between related and unrelated parties, and provides credit amounts and phase-out rules for certain components and critical minerals.
View Full Text

Suggested Questions

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

Timeline
Nov 18, 2024

Latest Companion Bill Action

HJRES 118-222
Introduced in House
Dec 5, 2024
Introduced in Senate
Dec 5, 2024
Read twice and referred to the Committee on Finance.
  • November 18, 2024

    Latest Companion Bill Action

    HJRES 118-222
    Introduced in House


  • December 5, 2024
    Introduced in Senate


  • December 5, 2024
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HJRES 118-222: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Advanced Manufacturing Production Credit".
  • HJRES 118-225: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Advanced Manufacturing Production Credit".

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Advanced Manufacturing Production Credit".

USA118th CongressSJRES-119| Senate 
| Updated: 12/5/2024
This joint resolution nullifies the final rule issued by the Internal Revenue Service titled Advanced Manufacturing Production Credit and published on October 28, 2024. The final rule provides guidance on the tax credit for the production and sale of solar and wind components, inverters, some battery components, and critical minerals, which was added by the Inflation Reduction Act of 2022. The rule, among other things, defines what produced by the taxpayer means for purposes of determining eligibility for the tax credit, details the requirements regarding sales between related and unrelated parties, and provides credit amounts and phase-out rules for certain components and critical minerals.
View Full Text

Suggested Questions

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

Timeline
Nov 18, 2024

Latest Companion Bill Action

HJRES 118-222
Introduced in House
Dec 5, 2024
Introduced in Senate
Dec 5, 2024
Read twice and referred to the Committee on Finance.
  • November 18, 2024

    Latest Companion Bill Action

    HJRES 118-222
    Introduced in House


  • December 5, 2024
    Introduced in Senate


  • December 5, 2024
    Read twice and referred to the Committee on Finance.
Tom Cotton

Tom Cotton

Republican Senator

Arkansas

Cosponsors (1)
Rick Scott (Republican)

Finance Committee

Taxation

Related Bills

  • HJRES 118-222: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Advanced Manufacturing Production Credit".
  • HJRES 118-225: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Advanced Manufacturing Production Credit".
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted