To amend the Internal Revenue Code of 1986 to modify certain investment credit rules with respect to nuclear facilities.

This bill proposes amendments to the Internal Revenue Code of 1986, specifically targeting investment credit rules for qualified nuclear facilities that produce electricity. Its primary goal is to provide more favorable tax treatment and incentivize investments in this sector.

One key provision allows these nuclear facilities to elect out of the public utility property limitation, which previously restricted certain investment credits, thereby making them more accessible. Additionally, the bill removes the progress expenditures limitation for eligible credits, meaning credits can be claimed based on expenditures incurred during the construction phase rather than only upon completion. These modifications are intended to stimulate investment and development in nuclear energy infrastructure, with the amendments applying to taxable years beginning after December 31, 2026.