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Tax Credits for Hydropower Upgrades and River Restoration

This act introduces new tax credits for companies upgrading existing hydroelectric dams. The goal is to boost clean energy production, enhance grid reliability, and improve river health and wildlife habitats. Citizens may benefit from more stable energy supplies and a healthier natural environment.
Key points
Companies upgrading hydropower facilities can receive a 30% tax credit on investment costs.
The credit covers projects improving fish passage, water quality, dam safety, and removal of obsolete river obstructions.
Support also extends to small, remote hydroelectric dams serving communities not connected to major power grids.
These changes aim to increase renewable energy production and protect river ecosystems.
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Additional Information
Print number: 117_S_5222
Sponsor: Sen. Cantwell, Maria [D-WA]
Process start date: 2022-12-08