Maintaining and Enhancing Hydroelectricity and River Restoration Act of 2021

Hozzl · 2022-12-31T05:06:46Z

Explore the details of House Bill 4499 Maintaining and Enhancing Hydroelectricity and River Restoration Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/31/2022, 5:06 AM

Summary of Bill HR 4499

Bill 117 HR 4499, also known as the Maintaining and Enhancing Hydroelectricity and River Restoration Act of 2021, aims to promote the development and maintenance of hydroelectric power while also focusing on the restoration and preservation of rivers in the United States. The bill recognizes the importance of hydroelectricity as a renewable energy source and seeks to support the growth of this industry.

The bill includes provisions to streamline the permitting process for hydroelectric projects, making it easier for developers to navigate the regulatory landscape. It also encourages the modernization of existing hydroelectric facilities to improve efficiency and reduce environmental impact.

In addition to supporting hydroelectricity, the bill also prioritizes the restoration and conservation of rivers. It allocates funding for projects that aim to improve water quality, restore habitats, and enhance recreational opportunities along rivers. By investing in these initiatives, the bill seeks to protect and preserve the natural beauty and ecological diversity of America's waterways. Overall, Bill 117 HR 4499 represents a balanced approach to energy policy, promoting the growth of hydroelectric power while also prioritizing the conservation and restoration of rivers. It aims to support sustainable development and environmental stewardship, ensuring a brighter future for both energy production and natural resources in the United States.

Congressional Summary of HR 4499

Maintaining and Enhancing Hydroelectricity and River Restoration Act of 2021

This bill allows a new tax credit for maintaining and enhancing hydroelectric dams that is equal to 30% of the basis of any qualified dam safety, environmental, and grid resilience enhancement property placed in service in a taxable year. It also allows a 30% credit for qualified obsolete river obstruction removal expenditures for demolishing and removing certain nonpowered or hydroelectric dams.

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Current Status of Bill HR 4499

Bill HR 4499 is currently in the status of Bill Introduced since July 16, 2021. Bill HR 4499 was introduced during Congress 117 and was introduced to the House on July 16, 2021. Bill HR 4499's most recent activity was Referred to the House Committee on Ways and Means. as of July 16, 2021

Bipartisan Support of Bill HR 4499

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 4499

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 4499

To amend the Internal Revenue Code of 1986 to support upgrades at existing hydroelectric dams and the removal of obsolete river obstructions to improve the health of the Nation's rivers and associated wildlife habitat and increase clean energy production, public safety, and for other purposes.

Maintaining and Enhancing Hydroelectricity and River Restoration Act of 2021