What does Preamble of Financing Our Energy Future Act do?

This bill, formally titled 'To amend the Internal Revenue Code of 1986 to extend the publicly traded partnership ownership structure to energy power generation projects and transportation fuels, and for other purposes,' proposes amendments to the Internal Revenue Code of 1986. The bill aims to extend the publicly traded partnership ownership structure to energy power generation projects. It also seeks to extend this structure to transportation fuels.

What does SHORT TITLE. of Financing Our Energy Future Act do?

This bill is formally titled the Financing Our Energy Future Act.

What does GREEN ENERGY PUBLICLY TRADED PARTNERSHIPS. of Financing Our Energy Future Act do?

This section amends Section 7704(d)(1)(E) of the Internal Revenue Code of 1986. The amendment expands the definition of income and gains to include activities related to energy generation, storage, and transportation. Specific activities now included involve the generation of electric power or thermal energy using qualified energy resources, operation of energy property, and processing of biomass or municipal solid waste. The definition also encompasses the production, storage, and transportation of various fuels, including those utilizing captured carbon oxides. Additionally, the amendment includes activities related to carbon capture, advanced nuclear facilities, and renewable chemicals meeting specific criteria. The amendments apply to taxable years beginning after December 31, 2025.

Back to bills

Financing Our Energy Future Act

Last updated: 2/11/2025 · Introduced: 2/11/2025

Author: Jerry Moran (R-KS)

TL;DR (AI)

The bill expands the definition of publicly traded partnership income to include activities related to energy generation, storage, and transportation, encompassing renewable energy sources, carbon capture, and advanced nuclear facilities.
It extends the publicly traded partnership ownership structure to energy power generation projects and the production, storage, and transportation of transportation fuels.
These changes apply to taxable years beginning after December 31, 2025.

119th Congressin committeeOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

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

3 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account