Legis Daily

Financing Our Energy Future Act

USA119th CongressS-510| Senate 
| Updated: 2/11/2025
Jerry Moran

Jerry Moran

Republican Senator

Kansas

Cosponsors (10)
Roger Marshall (Republican)Christopher A. Coons (Democratic)John R. Curtis (Republican)Mark R. Warner (Democratic)Angus S. King (Independent)Kevin Cramer (Republican)John Barrasso (Republican)John Cornyn (Republican)Susan M. Collins (Republican)Pete Ricketts (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill, known as the "Financing Our Energy Future Act," proposes to amend the Internal Revenue Code of 1986 to significantly expand the types of income that qualify for publicly traded partnership (PTP) status. By broadening this definition, the legislation aims to enable a wider array of energy-related projects to utilize the PTP ownership structure, thereby encouraging increased investment in these sectors. The bill specifically extends PTP eligibility to income derived from the generation and storage of electric power or thermal energy using qualified energy resources , including biomass, municipal solid waste, and combined heat and power systems . It also covers the operation of various energy properties and the transportation or storage of diverse transportation fuels , such as hydrogen and renewable fuels derived from biomass. Further provisions include the production, storage, or transportation of fuels made from captured carbon oxides , provided they achieve substantial greenhouse gas emission reductions. The scope also encompasses electric power generation from qualifying gasification projects , advanced nuclear facilities , and activities at carbon capture facilities , along with the production, storage, or transportation of specific renewable chemicals . These amendments will apply to taxable years beginning after December 31, 2025.
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Timeline

Bill from Previous Congress

S 116-1841
Financing Our Energy Future Act

Bill from Previous Congress

S 118-2641
Financing Our Energy Future Act

Bill from Previous Congress

S 117-1034
Financing Our Energy Future Act
Feb 11, 2025
Introduced in Senate
Feb 11, 2025
Read twice and referred to the Committee on Finance.
Apr 1, 2025

Latest Companion Bill Action

HR 119-2545
Introduced in House
  • Bill from Previous Congress

    S 116-1841
    Financing Our Energy Future Act


  • Bill from Previous Congress

    S 118-2641
    Financing Our Energy Future Act


  • Bill from Previous Congress

    S 117-1034
    Financing Our Energy Future Act


  • February 11, 2025
    Introduced in Senate


  • February 11, 2025
    Read twice and referred to the Committee on Finance.


  • April 1, 2025

    Latest Companion Bill Action

    HR 119-2545
    Introduced in House

Taxation

Related Bills

  • HR 119-2545: Financing Our Energy Future Act

Financing Our Energy Future Act

USA119th CongressS-510| Senate 
| Updated: 2/11/2025
This bill, known as the "Financing Our Energy Future Act," proposes to amend the Internal Revenue Code of 1986 to significantly expand the types of income that qualify for publicly traded partnership (PTP) status. By broadening this definition, the legislation aims to enable a wider array of energy-related projects to utilize the PTP ownership structure, thereby encouraging increased investment in these sectors. The bill specifically extends PTP eligibility to income derived from the generation and storage of electric power or thermal energy using qualified energy resources , including biomass, municipal solid waste, and combined heat and power systems . It also covers the operation of various energy properties and the transportation or storage of diverse transportation fuels , such as hydrogen and renewable fuels derived from biomass. Further provisions include the production, storage, or transportation of fuels made from captured carbon oxides , provided they achieve substantial greenhouse gas emission reductions. The scope also encompasses electric power generation from qualifying gasification projects , advanced nuclear facilities , and activities at carbon capture facilities , along with the production, storage, or transportation of specific renewable chemicals . These amendments will apply to taxable years beginning after December 31, 2025.
View Full Text

Suggested Questions

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

Timeline

Bill from Previous Congress

S 116-1841
Financing Our Energy Future Act

Bill from Previous Congress

S 118-2641
Financing Our Energy Future Act

Bill from Previous Congress

S 117-1034
Financing Our Energy Future Act
Feb 11, 2025
Introduced in Senate
Feb 11, 2025
Read twice and referred to the Committee on Finance.
Apr 1, 2025

Latest Companion Bill Action

HR 119-2545
Introduced in House
  • Bill from Previous Congress

    S 116-1841
    Financing Our Energy Future Act


  • Bill from Previous Congress

    S 118-2641
    Financing Our Energy Future Act


  • Bill from Previous Congress

    S 117-1034
    Financing Our Energy Future Act


  • February 11, 2025
    Introduced in Senate


  • February 11, 2025
    Read twice and referred to the Committee on Finance.


  • April 1, 2025

    Latest Companion Bill Action

    HR 119-2545
    Introduced in House
Jerry Moran

Jerry Moran

Republican Senator

Kansas

Cosponsors (10)
Roger Marshall (Republican)Christopher A. Coons (Democratic)John R. Curtis (Republican)Mark R. Warner (Democratic)Angus S. King (Independent)Kevin Cramer (Republican)John Barrasso (Republican)John Cornyn (Republican)Susan M. Collins (Republican)Pete Ricketts (Republican)

Finance Committee

Taxation

Related Bills

  • HR 119-2545: Financing Our Energy Future Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted