Restoring Energy Market Freedom Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 10, 2023)
Restoring Energy Market Freedom Act
This bill repeals specified business tax credits related to electricity produced from certain renewable resources and alternative energy and investment credits related to energy projects.
Specifically, the bill repeals tax credits (i.e., money that can be offset against a tax liability) for businesses for (1) electricity produced from certain renewable resources (e.g., solar energy); (2) production of electricity from advanced nuclear power facilities; (3) carbon dioxide sequestration; (4) zero-emission nuclear power production; (5) production of clean hydrogen; (6) production and sale of specified components, such as solar energy components; and (7) production of clean electricity.
The bill also repeals tax credits for investments related to certain energy projects, including credits for (1) geothermal energy property placed in service, (2) qualifying coal projects, (3) qualifying advanced energy projects, (4) advanced manufacturing investments, and (5) clean electricity investments.
What just happenedMar 10, 2023
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseMar 10, 2023
- Mar 10, 2023IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Mar 10, 2023IntroReferralIntro-H
Introduced in House
- Mar 10, 2023IntroReferral1000
Introduced in House