To amend the Internal Revenue Code of 1986 to deny certain green energy tax benefits to companies connected to certain countries of concern.

Bill 119 HR 524 aims to make changes to the Internal Revenue Code of 1986 in order to restrict certain tax benefits related to green energy for companies that have connections to countries that are considered to be of concern. The bill seeks to deny these tax benefits to companies that have ties to these specific countries, in an effort to prevent any potential misuse or exploitation of these benefits. The goal of this legislation is to ensure that companies receiving tax benefits for green energy initiatives are not engaging in any activities that could be harmful or pose a threat to national security. This bill is designed to promote transparency and accountability in the use of tax incentives for green energy projects, while also addressing potential risks associated with companies that have connections to countries of concern.