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Tax Structure Expansion for Green Energy and Clean Fuel Investments

This bill amends the Internal Revenue Code to allow companies involved in electric power generation, energy storage, and transportation fuels to utilize the publicly traded partnership (PTP) structure. Cited as the 'Financing Our Energy Future Act', the legislation expands the definition of qualifying income to include sources such as renewable energy, energy storage technologies, and alternative fuels.
Key points
Extends the PTP structure to projects involving the generation of electric power or thermal energy using qualified energy resources (e.g., wind, solar) and advanced nuclear facilities.
The new rules cover energy storage (including batteries, hydrogen, compressed air) and the transportation or production of specific fuels, including those derived from captured carbon oxides.
The amendments apply to taxable years beginning after December 31, 2023.
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Additional Information
Print number: 118_S_2641
Sponsor: Sen. Coons, Christopher A. [D-DE]
Process start date: 2023-07-27
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OFFICIAL LEGAL TITLE

Financing Our Energy Future Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2641.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-27.

What are the main provisions?

Key points include:

  • Extends the PTP structure to projects involving the generation of electric power or thermal energy using qualified energy resources (e.g., wind, solar) and advanced nuclear facilities.
  • The new rules cover energy storage (including batteries, hydrogen, compressed air) and the transportation or production of specific fuels, including those derived from captured carbon oxides.
  • The amendments apply to taxable years beginning after December 31, 2023.
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 Sen. Coons, Christopher A. [D-DE].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Taxes Environment Economy