H.R. 4118: Stop the Subsidized Green Energy Scam Act

This bill, titled the Stop the Subsidized Green Energy Scam Act, aims to modify the U.S. Internal Revenue Code concerning tax credits related to renewable energy projects. Here are the key aspects of the bill:

Termination of Tax Credits

The bill proposes to eliminate certain tax credits available for facilities that utilize wind, solar, or battery energy storage for electricity generation, storage, or delivery. Specifically:

• It amends the legislation to state that any facility that begins construction after the bill's enactment date will no longer qualify for these tax credits.
• This includes both energy production tax credits and investment tax credits related to wind, solar, and battery facilities.

Specific Amendments

The bill outlines specific amendments to existing sections of the Internal Revenue Code:

• Energy Credit: The section regarding energy credits is modified to exclude any construction that begins after the enactment date of this bill for renewable energy facilities.
• Clean Electricity Production Tax Credit: The bill redesignates certain provisions and introduces a new subparagraph that terminates eligibility for facilities constructed after the enactment date that utilize wind, solar, or battery technologies.
• Clean Electricity Investment Tax Credit: Similar to the above, the provisions for the investment tax credit are amended to remove eligibility for any new facilities starting construction after the bill's enactment if they rely on these renewable technologies.

Effective Date

The changes proposed by this bill will take effect for property that begins construction after the date the bill is enacted into law.

Regulatory Guidance

Following the enactment of the bill, the Secretary of the Treasury, in consultation with the Secretary of Energy, is required to issue necessary regulations and guidance to implement these changes.

Relevant Companies

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