US Congress Senate Bill 666 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Introduced on March 15 2017 - 25% progression, died in committee
Action: 2017-03-15 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

A bill to amend the Internal Revenue Code of 1986 to modify the credit for production from advanced nuclear power facilities. This bill amends the Internal Revenue Code, with respect to the tax credit for the production of electricity from advanced nuclear power facilities, to: (1) establish requirements for the allocation of unutilized portions of the national megawatt capacity limitation, and (2) allow public entities to transfer the credit to project partners. If a portion of the 6,000 national megawatt capacity limitation for the credit is unutilized after December 31, 2020, the Internal Revenue Service must allocate the unutilized capacity: (1) first to facilities that were placed in service on or before December 31, 2020, and did not receive an allocation equal to their full nameplate capacity; and (2) then to facilities placed in service after December 31, 2020, in the order in which the facilities are placed in service. The placed-in-service sunset date of January 1, 2021, does not apply to the allocations of unutilized national megawatt capacity. Qualified public entities may transfer the credit to an eligible project partner. A "qualified public entity" is: (1) a federal, state, or local government or any political subdivision, agency, or instrumentality thereof; (2) a mutual or cooperative electric company; or (3) a not-for-profit electric utility which has or had received a loan or loan guarantee under the Rural Electrification Act of 1936. An "eligible project partner" includes any person who: (1) is responsible for, or is participating in, the design or construction of the facility; (2) participates in the provision of nuclear steam or nuclear fuel to the facility; or (3) has an ownership interest in the facility.

A bill to amend the Internal Revenue Code of 1986 to modify the credit for production from advanced nuclear power facilities.

Sen. Tim Scott [R-SC]

Sen. Lindsey Graham [R-SC]

Sen. Johnny Isakson [R-GA]

Sen. Cory Booker [D-NJ]

Senate - On Passage of the Bill H.R. 1 (Y: 51 N: 49 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2017-03-15	Senate	Read twice and referred to the Committee on Finance.

HB1551 (Same As) 2018-10-11 - Became Public Law No: 115-264.
HB1 (Related) 2017-12-22 - Became Public Law No: 115-97. (TXT | PDF)
HR619 (Similar To) 2017-11-15 - Motion to reconsider laid on the table Agreed to without objection.
SB2256 (Related) 2017-12-20 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/666/all-info
Text	https://www.congress.gov/115/bills/s666/BILLS-115s666is.pdf
Roll Call	https://www.senate.gov/legislative/LIS/roll_call_votes/vote1151/vote_115_1_00303.htm