CIRCUIT Act

119 S448 IS: Credit Incentives for Resilient Critical Utility Infrastructure and Transformers Act U.S. Senate 2025-02-06 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. 448 IN THE SENATE OF THE UNITED STATES February 6 (legislative day, February 5), 2025 Mr. Moran (for himself and Ms. Cortez Masto ) 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 expand the advanced manufacturing production credit to include distribution transformers. 1. Short title This Act may be cited as the Credit Incentives for Resilient Critical Utility Infrastructure and Transformers Act or the CIRCUIT Act . 2. Expansion of advanced manufacturing production credit to include distribution transformers (a) In general Section 45X of the Internal Revenue Code of 1986 is amended— (1) in subsection (b)(1)— (A) in subparagraph (L)(ii), by striking and at the end, (B) in subparagraph (M), by striking the period at the end and inserting , and , and (C) by adding at the end the following new subparagraph: (N) in the case of any distribution transformer, an amount equal to 10 percent of the costs incurred by the taxpayer with respect to production of such transformer. , and (2) in subsection (c)— (A) in paragraph (1)(A)— (i) in clause (iv), by striking and at the end, (ii) in clause (v), by striking the period at the end and inserting , and , and (iii) by adding at the end the following new clause: (vi) any distribution transformer. , and (B) by adding at the end the following new paragraph: (7) Distribution transformer The term distribution transformer has the same meaning given such term under section 321(35) of the Energy Policy and Conservation Act ( 42 U.S.C. 6291(35) ). . (b) Effective date The amendments made by this section shall apply to components produced and sold after the date which is 90 days after the date of enactment of this Act.