What This Bill Does · Plain English
Summary · Congress.gov
This bill extends the energy investment tax credit for qualified fuel cell property for eight years. Under current law, an energy investment tax credit of up to 30% of the cost of qualified fuel cell property is available provided construction of the qualified fuel cell property begins on or before December 31, 2024. This bill extends the energy investment tax credit to include qualified fuel cell property where construction begins on or before December 31, 2032.
Action Timeline
2025-03-13
Read twice and referred to the Committee on Finance.
2025-03-13
Introduced in Senate
Frequently Asked Questions
Did S.1043 pass?
S.1043 is still alive. Current stage: COMMITTEE. Pass likelihood: 62%.
What does S.1043 do?
This bill extends the energy investment tax credit for qualified fuel cell property for eight years. Under current law, an energy investment tax credit of up to 30% of the cost of qualified fuel cell property is available provided construction of the qualified fuel cell property begins on or before December 31, 2024. This bill extends the energy investment tax credit to include qualified fuel cell property where construction begins on or before December 31, 2032.
Who sponsored S.1043?
S.1043 was sponsored by Lindsey Graham (R-South Carolina).
Full Bill Text
119 S1043 IS: To amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property. U.S. Senate 2025-03-13 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. II 119th CONGRESS 1st Session S. 1043 IN THE SENATE OF THE UNITED STATES March 13, 2025 Mr. Graham (for himself and Mr. Blumenthal ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property. 1. Extension of energy credit for qualified fuel cell property (a) In general Section 48(c)(1)(E) of the Internal Revenue Code of 1986 is amended by striking January 1, 2025 and inserting January 1, 2033 . (b) Effective date The amendments made by this section shall apply to property the construction of which begins after December 31, 2024.
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