About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

H.R. 1551, a Bill to Amend the Internal Revenue Code of 1986 to Modify the Credit for Production from Advanced Nuclear Power Facilities 1 (June 16, 2017)

handle is hein.congrec/cbo3619 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE C COST ESTIMATE June 16, 2017 H.R. 1551 A bill to amend the Internal Revenue Code of 1986 to modify the credit for production from advanced nuclear power facilities As ordered reported by the House Committee on Ways and Means on June 15, 2017 H.R. 1551 would modify the tax credit for electricity production from advanced nuclear power facilities. Under current law, taxpayers producing electricity at advanced nuclear facilities approved after 1993 and placed into service before January 1, 2021, can receive a tax credit for an eight-year period that is based on the amount of electricity they produce, subject to certain facility-specific and nationwide limits on electricity capacity. The bill would allow entities that have reached their facility-specific limits, and have additional capacity above those limits, to receive an allocation from the unused nationwide limitation amount, thus allowing them to receive additional tax credits. The nationwide limits on qualifying electricity production would not change. The bill would also allow the additional allocation to apply to advanced facilities placed into service after December 31, 2020. Finally, H.R. 1551 would allow certain non-profit or governmental entities to transfer a portion or all of their credits to taxable project partners. The treatment of unutilized limitation amounts would be effective upon date of enactment, and the allowed credit transfers would be effective for tax years beginning after the date of enactment. The staff of the Joint Committee on Taxation (JCT) estimates that the legislation would reduce revenues by about $16 million over the 2017-2027 period. The Statutory Pay-As-You Go Act of 2010 establishes budget-reporting and enforcement procedures for legislation affecting revenues and direct spending. The net changes in revenues that are subject to those pay-as-you-go procedures are shown in the following table. Enacting the bill would not affect direct spending.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most