Plain English
GovGreed Synthesis ·
No Official Giveaways Of Taxpayers’ Income to Oppressive Nations Act or the NO GOTION Act This bill prohibits an entity that is created in, organized in, or controlled (in the aggregate) by China, Russia, Iran, or North Korea, or an entity controlled (in the aggregate) by one or more of such entities, from claiming multiple energy-related federal tax credits and incentives. Specifically, the bill prohibits such entities from claiming the federal tax credits for alternative fuel vehicle refueling property, second-generation biofuel, biodiesel fuel, sustainable aviation fuel, renewable electricity production, carbon sequestration, zero-emission nuclear power production, clean hydrogen production, clean commercial vehicles, advanced manufacturing production, clean electricity production, clean fuel production, investments in energy property, advanced energy projects, clean electricity investment, biodiesel mixtures, alternative fuel, and alternative fuel mixtures. Further, such entities are prohibited from claiming the federal tax deduction for energy efficient improvements to commercial buildings. Finally, such entities are not entitled to a credit or refund of federal excise taxes paid on biodiesel, alternative fuel, or sustainable aviation fuel mixtures produced by the entities.
Market Impact Map
Action Timeline
2025-01-16
Referred to the House Committee on Ways and Means.
2025-01-16
Introduced in House
2025-01-16
Introduced in House
Full Bill Text
119 HR 524 IH: No Official Giveaways Of Taxpayers’ Income to Oppressive Nations Act U.S. House of Representatives 2025-01-16 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. I 119th CONGRESS 1st Session H. R. 524 IN THE HOUSE OF REPRESENTATIVES January 16, 2025 Mr. Moolenaar (for himself, Mr. LaHood , Mr. Golden of Maine , Mr. Bergman , Mr. Huizenga , Mr. Walberg , Mr. Barrett , Mr. James , Mr. Bost , Ms. Malliotakis , Ms. Tenney , Mr. Cline , Mr. Kelly of Pennsylvania , Mr. Rouzer , Mr. Schweikert , Mr. Allen , Mr. Newhouse , Mr. Finstad , Mr. Murphy , Mr. Dunn of Florida , Mr. Gimenez , Mr. Ellzey , and Mr. Palmer ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to deny certain green energy tax benefits to companies connected to certain countries of concern. 1. Short title This Act may be cited as the No Official Giveaways Of Taxpayers’ Income to Oppressive Nations Act or the NO GOTION Act . 2. Denial of green energy tax benefits to companies connected to countries of concern (a) In general Chapter 77 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 7531. Denial of green energy tax benefits to companies connected to countries of concern (a) In general In the case of any disqualified company, this title shall be applied without regard to sections 30C, 40, 40A, 40B, 45, 45Q, 45U, 45V, 45W, 45X, 45Y, 45Z, 48, 48C, 48E, 179D, 6426(c), 6426(d), 6426(e), and 6427(e). (b) Disqualified company For purposes of this section— (1) In general The term disqualified company means— (A) any entity created or organized in, or controlled (in the aggregate) by, one or more countries of concern, and (B) any entity controlled (in the aggregate) by one or more entities described in paragraph (1). (2) Countries of concern The term countries of concern means the People’s Republic of China, the Russian Federation, the Islamic Republic of Iran, or the Democratic People’s Republic of Korea. (3) Control The term control has the meaning given such term under section 954(d)(3), determined by treating the rules of section 958(a)(2) as applying to both foreign and domestic corporations, partnerships, trusts, and estates. . (b) Clerical amendment The table of sections for chapter 77 of such Code is amended by adding at the end the following new item: Sec. 7531. Denial of green energy tax benefits to companies connected to countries of concern. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
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