Ways and Means reports out nuclear production tax credit bill

Nuclear production tax credit bill

The Ways and Means Committee of the U.S. House of Representatives today reported by “voice vote” H.R. 1551—legislation that would modify the tax credit for production from advanced nuclear power facilities. A chairman’s amendment in the nature of a substitute was also passed.

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Today’s action cleared the way for the bill to be sent to the full House.

The Joint Committee on Taxation (JCT) released a description of the bill and a description of the chairman’s amendment in the nature of a substitute. As explained by the JCT, among the proposals are measures that would modify the national megawatt capacity limitation for the advanced nuclear power production credit, and that would allow qualified public entities to elect to forgo credits to which they otherwise would be entitled in favor of an eligible project partner. H.R. 1551 would modify the effective date for the transfer of credits by certain public entities to tax years beginning after the date of enactment of the bill.

Documents

  • Read text of H.R. 1551 [PDF 247 KB]

  • Read the JCT description of H.R. 1551: JCX-28-17

  • Read the JCT description of the chairman’s amendment in the nature of a substitute: JCX-29-17

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