What does Preamble of HR 1237 do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment would deny the energy credit for property used to generate solar energy. This denial applies to property located on farmland designated as 'prime or unique' by the Secretary of Agriculture.

What does SHORT TITLE. of HR 1237 do?

This bill is formally titled the Protect Agriculture, Nutrients, and Essential Lands from Solar Act, also known as the PANELS Act.

What does CREDITS AMENDED TO EXCLUDE PROPERTY LOCATED ON PRIME OR UNIQUE of HR 1237 do?

This section amends several provisions of the Internal Revenue Code related to energy and clean electricity production credits. Amendments are made to Sections 48(a)(3), 48(a)(5)(D), 48(c), 48(e)(2)(A), and 45Y(b)(1) of the Internal Revenue Code. The amendments exclude property located on prime farmland or unique farmland from eligibility for certain energy credits, specifically when used for generating solar energy. The definitions of 'prime farmland' and 'unique farmland' are clarified to reference part 657 of title 7, Code of Federal Regulations. The amendments specify that a 'qualified facility' does not include any solar energy facility located on prime or unique farmland. These amendments apply to property placed in service after the date of enactment of this Act.

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PANELS Act — HR. 1237

Last updated: 2/12/2025 · Introduced: 2/12/2025

Author: Mike Bost (R-IL)

TL;DR (AI)

The PANELS Act amends the Internal Revenue Code to deny energy credits for solar energy property located on farmland designated as 'prime or unique' by the Secretary of Agriculture.
The bill clarifies the definitions of 'prime farmland' and 'unique farmland' to reference specific regulations.
These changes apply to solar energy facilities placed in service after the bill's enactment.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 1 more.

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