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.
Status:
Expired
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