Zero-Emission Nuclear Power Production Credit Act of 2021

Zero-Emission Nuclear Power Production Credit Act of 2021

This bill allows a new business-related tax credit through 2030 for the production of electricity from zero-emission nuclear power. It also allows taxpayers to elect direct payments of such credit and requires a recapture of credit amounts for contractors who fail to pay their employees the prevailing wage rate.

The bill requires the Government Accountability Office to report on the effectiveness of the credit in ensuring grid reliability and on ratepayer savings.

Contractors must ensure that at least 15% of their workforce is composed of qualified apprentices unless there is a lack of availability of qualified apprentices in the applicable geographic area.

Bill 117 HR 4024, also known as the Zero-Emission Nuclear Power Production Credit Act of 2021, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to provide a tax credit for zero-emission nuclear power production.

The bill aims to incentivize the production of nuclear power, which is considered a clean and efficient source of energy. By providing a tax credit for zero-emission nuclear power production, the government hopes to encourage the development and expansion of nuclear power plants in the United States.

The tax credit provided by this bill would be based on the amount of electricity generated by zero-emission nuclear power plants. This credit would help offset the costs associated with producing nuclear power, making it more competitive with other forms of energy production. Supporters of the bill argue that nuclear power is essential for reducing greenhouse gas emissions and combating climate change. They believe that by incentivizing the production of nuclear power, the United States can move towards a more sustainable and environmentally friendly energy future. Opponents of the bill, however, raise concerns about the safety and environmental impact of nuclear power. They argue that nuclear power plants pose risks such as accidents and the disposal of radioactive waste, and that the focus should be on developing renewable energy sources instead. Overall, Bill 117 HR 4024, the Zero-Emission Nuclear Power Production Credit Act of 2021, seeks to promote the production of clean and efficient nuclear power through the use of tax credits. The bill has sparked debate among lawmakers and stakeholders about the role of nuclear power in the United States' energy future.