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Tax for Utilities Lacking Climate-Resilient Infrastructure

This act introduces a new tax for certain state-regulated electric utilities that have not fully adopted climate-resilient infrastructure. The goal is to encourage these companies to invest in solutions that protect against extreme weather events, potentially leading to more stable energy supplies for citizens and reduced risk of outages.
Key points
New tax imposed on electric utilities without climate-resilient infrastructure.
Applies to companies that pay incentive-based bonuses to their 13 highest-compensated employees.
Aims to incentivize investment in infrastructure capable of reducing the impact of major weather events.
Changes are effective for tax years beginning after December 31, 2022.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_9155
Sponsor: Rep. Harder, Josh [D-CA-10]
Process start date: 2022-10-07
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

No Bonuses for Executives Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9155.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-10-07.

What are the main provisions?

Key points include:

  • New tax imposed on electric utilities without climate-resilient infrastructure.
  • Applies to companies that pay incentive-based bonuses to their 13 highest-compensated employees.
  • Aims to incentivize investment in infrastructure capable of reducing the impact of major weather events.
  • Changes are effective for tax years beginning after December 31, 2022.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Harder, Josh [D-CA-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Taxes Environment Economy