Renewable Energy Transferability Act

Senate Bill 3032 - Renewable Energy Transferability Act: Overview, Status, and Impact

Hozzl · 2022-10-28T01:45:58Z

Explore the details of Senate Bill 3032 Renewable Energy Transferability Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

10/28/2022, 1:45 AM

Congressional Summary of S 3032

Renewable Energy Transferability Act

This bill allows tax credits for renewable energy to be transferred to project partners. The bill applies to the tax credits for (1) renewable electricity production, (2) investments in renewable energy property, and (3) carbon oxide sequestration.

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Current Status of Bill S 3032

Bill S 3032 is currently in the status of Bill Introduced since December 12, 2019. Bill S 3032 was introduced during Congress 116 and was introduced to the Senate on December 12, 2019. Bill S 3032's most recent activity was Read twice and referred to the Committee on Finance. as of December 12, 2019

Bipartisan Support of Bill S 3032

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3032

Primary Policy Focus

Taxation

Potential Impact Areas

- Air quality

- Alternative and renewable resources

- Business investment and capital

- Climate change and greenhouse gases

- Electric power generation and transmission

- Energy efficiency and conservation

- Income tax credits

- Income tax deductions

- Public utilities and utility rates

- Residential rehabilitation and home repair

- Tax administration and collection, taxpayers

Alternate Title(s) of Bill S 3032

Renewable Energy Transferability Act

A bill to amend the Internal Revenue Code of 1986 to allow for transfers of the renewable electricity production credit, the energy credit, and the credit for carbon oxide sequestration.