NO GOTION Act

This bill proposes to amend the Internal Revenue Code of 1986 to deny various green energy tax benefits to companies connected with specific "countries of concern." Under the proposed Section 7531, a "disqualified company" would be ineligible for tax credits related to clean energy production, manufacturing, and investments. A company is deemed "disqualified" if it is created in or controlled by nations such as the People's Republic of China, the Russian Federation, the Islamic Republic of Iran, or the Democratic People's Republic of Korea. This measure aims to prevent U.S. taxpayer-funded incentives from benefiting entities tied to these countries. The changes would take effect for taxable years beginning after the bill's enactment.