What does Preamble of CIRCUIT Act do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment aims to expand the advanced manufacturing production credit. The expansion would include distribution transformers.

What does SHORT TITLE. of CIRCUIT Act do?

This bill is formally titled the Credit Incentives for Resilient Critical Utility Infrastructure and Transformers Act, also known as the CIRCUIT Act.

What does EXPANSION OF ADVANCED MANUFACTURING PRODUCTION CREDIT TO of CIRCUIT Act do?

This section amends Section 45X of the Internal Revenue Code of 1986. The amendments expand the Advanced Manufacturing Production Credit to include distribution transformers. Taxpayers can receive a credit equal to 10 percent of the costs incurred with respect to the production of distribution transformers. The term 'distribution transformer' is defined as having the same meaning as under section 321(35) of the Energy Policy and Conservation Act. The amendments apply to components produced and sold after 90 days following the enactment of this Act.

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CIRCUIT Act

Last updated: 2/6/2025 · Introduced: 2/6/2025

Author: Jerry Moran (R-KS)

TL;DR (AI)

The bill amends the Internal Revenue Code to expand the advanced manufacturing production credit to include distribution transformers.
Taxpayers producing distribution transformers after 90 days of the bill's enactment can receive a 10% tax credit on associated costs.
The bill defines 'distribution transformer' using the existing definition from the Energy Policy and Conservation Act.

119th Congressin committeeHR. 4128(In Committee)Official page

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Other Sections

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

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