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A bill to amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property.

4/3/2025, 1:18 PM

Summary of Bill S 1043

Bill 119 s 1043, also known as the Energy Credit Extension Act, is a proposed piece of legislation that aims to amend the Internal Revenue Code of 1986 in order to extend the energy credit for qualified fuel cell property. The bill seeks to provide incentives for the use of fuel cell technology by extending the tax credit available to individuals and businesses who invest in qualified fuel cell property.

The energy credit for qualified fuel cell property is currently set to expire, and this bill seeks to extend the credit in order to continue promoting the use of clean and efficient energy sources. By extending the tax credit, the bill aims to incentivize investment in fuel cell technology, which can help reduce greenhouse gas emissions and promote energy independence.

If passed, this bill would provide financial incentives for individuals and businesses to invest in fuel cell technology, ultimately leading to increased adoption of clean energy sources. The bill is non-partisan in nature and focuses on promoting energy efficiency and sustainability. Overall, Bill 119 s 1043 is a proposed piece of legislation that aims to extend the energy credit for qualified fuel cell property in order to incentivize investment in clean and efficient energy sources.

Congressional Summary of S 1043

This bill extends the energy investment tax credit for qualified fuel cell property for eight years.

Under current law, an energy investment tax credit of up to 30% of the cost of qualified fuel cell property is available provided construction of the qualified fuel cell property begins on or before December 31, 2024. This bill extends the energy investment tax credit to include qualified fuel cell property where construction begins on or before December 31, 2032.

Current Status of Bill S 1043

Bill S 1043 is currently in the status of Bill Introduced since March 13, 2025. Bill S 1043 was introduced during Congress 119 and was introduced to the Senate on March 13, 2025.  Bill S 1043's most recent activity was Read twice and referred to the Committee on Finance. as of March 13, 2025

Bipartisan Support of Bill S 1043

Total Number of Sponsors
2
Democrat Sponsors
0
Republican Sponsors
2
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
1
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 1043

Primary Policy Focus

Alternate Title(s) of Bill S 1043

A bill to amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property.
A bill to amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property.

Comments

Haley Avery profile image

Haley Avery

516

8 months ago

I can't believe this bill is trying to extend the energy credit for fuel cell property. It's just not right! It's gonna cost us taxpayers more money and I'm not happy about it. #NoThanks