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H.R. 310

U.S. House•In House Committee

Summary

H.R. 310, the Restoring Energy Market Freedom Act, was introduced in the House on Jan 9, 2025 by Rep. Scott Perry (R) with 3 co-sponsors. It was referred to Ways And Means, and last saw action on Jan 9, 2025: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 310 has 3 co-sponsors.

hb310/introduced-in-house.txt
119 HR 310 IH: Restoring Energy Market Freedom Act
 U.S. House of Representatives
 2025-01-09
 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. 310  IN THE HOUSE OF REPRESENTATIVES   January 9, 2025   Mr. Perry  (for himself,  Mr. Biggs of Arizona ,  Mr. Ogles , and  Mr. Roy ) 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 repeal certain credits.
1.
Short title
This Act may be cited as the   Restoring Energy Market Freedom Act  .
2.
Repeal of credits
(a)
In general
Subpart D of part IV of subchapter A of  chapter 1  of the Internal Revenue Code of 1986 is amended by striking sections 45, 45J, 45Q, 45U, 45V, 45X, 45Y, 48, 48A, 48B, 48C, 48D, and 48E (and by striking the items relating to such sections in the table of sections for such subpart).
(b)
General business credit
Section 38 of such Code is amended—
(1)
in subsection (b), by striking paragraphs (8), (21), (29), (36), (37), (38), and (39) and redesignating paragraphs (9)–(20), (22)–(28), (30)–(35), and (40)–(41) as paragraphs (8)–(19), (20)–(26), (27)–(32), and (33)–(34), respectively, and
(2)
in subsection (c)(4)(B), by striking clauses (iv), (v), and (x) and redesignating clauses (vi)–(ix) and (xi)–(xii) as clauses (iv)–(vii) and (viii)–(ix), respectively.
(c)
Conforming amendments
(1)
Section 25(e)(3) of such Code is amended by adding  (as in effect immediately before its repeal)  before the period at the end.
(2)
Section 30C of such Code is amended—
(A)
in subsection (g)(2)(B), by inserting  (as in effect immediately prior to its repeal)  after  section 45(b)(7)(B) , and
(B)
in subsection (g)(3), by inserting  (as in effect immediately prior to its repeal)  after  section 45(b)(8) .
(3)
Section 45K(b)(3) of such Code is amended by striking  (within the meaning of section 48(a)(4)(C))  and inserting  (within the meaning of section 48(a)(4)(C) as in effect immediately before its repeal) .
(4)
Section 45K(g)(2) of such Code is amended by striking subparagraph (E).
(5)
Section 45L(g)(2)(B) of such Code is amended by inserting  (as in effect immediately prior to its repeal)  after  section 45(b)(7)(B) .
(6)
Section 45Z of such Code is amended—
(A)
in subsection (c), by inserting  (as in effect immediately prior to its repeal)  after  pursuant to section 45Y(c) ,
(B)
by amending subsection (d)(4) to read as follows:
(4)
Qualified facility
The term  qualified facility  means a facility used for the production of transportation fuels.
 , and
(C)
in subsection (f)—
(i)
in paragraph (5), by inserting  (as in effect immediately prior to its repeal)  after  section 45Y(g)(6) ,
(ii)
in paragraph (6), by inserting  (as in effect immediately prior to its repeal)  after  section 45(b)(7) , and
(iii)
in paragraph (7), by inserting  (as in effect immediately prior to its repeal)  after  section 45(b)(8) .
(7)
Section 49(a)(C) of such Code is amended by adding  and  at the end of clause (i), by striking the comma at the end of clause (ii) and inserting a period, and by striking clauses (ii), (iv), (v), and (vi).
(8)
Section 50(a)(2)(E) of such Code is amended by striking  section 48(b) .
(9)
Section 50(a) of such Code is amended—
(A)
in paragraph (2), by striking subparagraph (E), and
(B)
by striking paragraph (3).
(10)
Section 56A(c) of such Code is amended by striking paragraph (9).
(11)
Section 59A(b)(4) of such Code is amended by striking  properly allocable to  and all that follows through the period and by inserting  properly allocable to the low-income housing credit determined under section 42(a). .
(12)
Section 142(o) of such Code is amended by inserting  as in effect immediately prior to its repeal  after  (as defined in section 45Q(e)(3) .
(13)
Section 168(e)(3)(B) of such Code is amended—
(A)
in clause (v), by adding  and  at the end, and
(B)
by striking clause (vi).
(14)
Section 179D(b) of such Code is amended—
(A)
in paragraph (4)(B), by inserting  (as in effect immediately prior to its repeal)  after  section 45(b)(7)(B) , and
(B)
in paragraph (5), by inserting  (as in effect immediately prior to its repeal)  after  section 45(b)(8) .
(15)
Section 409 of such Code is amended—
(A)
in subsection (g), by striking  section 48(n)(1) or  and  section 48(n)(1) and , and
(B)
in subsection (m), by striking  , or subparagraph (A) or (B) of section 48(n)(1) .
(16)
Section 501(c)(12) of such Code is amended by striking subparagraph (I) and by redesignating subparagraph (J) as subparagraph (I).
(17)
Section 6417 of such Code is amended—
(A)
in subsection (b), by striking paragraphs (2), (3), (4), (5), (7), (8), (10), (11), and (12) and by redesignating paragraphs (6) and (9) as paragraphs (2) and (3), respectively, and
(B)
in subsection (d)—
(i)
by amending paragraph (1) to read as follows:
(1)
Applicable entity
The term  applicable entity  means—
(A)
any organization exempt from the tax imposed by subtitle A,
(B)
any State or political subdivision thereof,
(C)
the Tennessee Valley Authority,
(D)
an Indian tribal government (as defined in section 30D(g)(9)),
(E)
any Alaska Native Corporation (as defined in section 3 of the Alaska Native Claims Settlement Act ( 43 U.S.C. 1602(m) ), or
(F)
any corporation operating on a cooperative basis which is engaged in furnishing electric energy to persons in rural areas.
 , and
(ii)
by amending paragraph (3) to read as follows:
(3)
Elections
(A)
Due date
Any election under subsection (a) shall be made not later than—
(i)
in the case of any government, or political subdivision, described in paragraph (1) and for which no return is required under section 6011 or 6033(a), such date as is determined appropriate by the Secretary, or
(ii)
in any other case, the due date (including extensions of time) for the return of tax for the taxable year for which the election is made, but in no event earlier than 180 days after the date of the enactment of this section.
(B)
Additional rules
Any election under subsection (a), once made, shall be irrevocable and shall apply (except as otherwise provided in this paragraph) with respect to any credit for the taxable year for which the election is made.
 .
(18)
Section 6418(f)(1) of such Code is amended—
(A)
in subparagraph (A), by striking clauses (ii)–(vii) and (ix)–(xi) and by redesignating clause (viii) as clause (ii),
(B)
by striking subparagraph (B), and
(C)
by redesignating subparagraph (C) as subparagraph (B).
(d)
Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2024.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-01-09
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House Jan 9, 2025

hb310/introduced-in-house.md

Shown Here:
Introduced in House (01/09/2025)

Restoring Energy Market Freedom Act

This bill repeals multiple business tax credits related to the production and sale of energy.

Specifically, the bill repeals the

  • renewable electricity production tax credit (for electricity using wind, solar, or other specific types of renewable energy produced by a qualified facility for which construction began before 2025);
  • clean electricity production tax credit (for electricity produced using a qualified facility that has no greenhouse gas emissions and was placed into service in 2025 or after);
  • advanced nuclear production tax credit (for electricity produced and sold by a qualified nuclear power facility placed into service before 2021);
  • zero-emission nuclear power production tax credit (for electricity produced and sold by a qualified nuclear power facility between 2024 and 2032);
  • carbon sequestration tax credit (for the capture and sequestration of carbon oxide);
  • clean hydrogen production tax credit (for clean hydrogen produced at a qualified clean production facility);
  • advanced manufacturing production tax credit (for the production and sale of qualified components, including solar and wind energy components);
  • energy investment tax credit (for investments in certain qualified energy property placed into service before 2025);
  • clean electricity investment credit (for investments in qualified energy property placed into service in 2025 or after);
  • qualifying advance coal project tax credit (for investments in qualifying advanced coal projects),
  • clean coal investment tax credit (for investments in qualifying gasification projects);
  • advanced energy project tax credit (for investments in qualifying advanced energy projects); and
  • advanced manufacturing investment tax credit (for investments in semiconductor or semiconductor manufacturing equipment).

Sponsors

Rep. Scott Perry (R) sponsors H.R. 310, and 3 members have co-sponsored it, all of them from the day it was introduced.

Committees

H.R. 310 went before 1 committee: Ways and Means.

Ways and Means
Ways and Means
Referred To · Jan 9, 2025 · 1,160 Bills

Actions

H.R. 310 has taken 2 actions since Jan 9, 2025.

ChamberAction
Jan 9, 2025
House
Introduced in House
Jan 9, 2025
House
Referred to the House Committee on Ways and Means.Ways and Means Committee

Votes

H.R. 310 has not gone to a roll call.

Titles

H.R. 310 goes by 3 titles, 1 of them short titles.

  • Restoring Energy Market Freedom Act — Display Title
  • Restoring Energy Market Freedom Act — Short Title(s) as Introduced
  • To amend the Internal Revenue Code of 1986 to repeal certain credits. — Official Title as Introduced

Lobbying

1 client hired 1 firm and 4 registered lobbyists who named H.R. 310 in 2 quarterly filings, 2025. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Budget/Appropriations, Energy/Nuclear, Government Issues, Manufacturing, Taxation/Internal Revenue Code, Trade (domestic/foreign).

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
CORPORATE ENERGY BUYERS ASSOCIATION—District of Columbia12—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
CORPORATE ENERGY BUYERS ASSOCIATION12—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
IAN HARRISON112
KYLE DAVIS112
KYLE BAKES111
RICHARD ENGLAND111

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
CORPORATE ENERGY BUYERS ASSOCIATIONCORPORATE ENERGY BUYERS ASSOCIATION2025 second_quarter$140K2nd Quarter - Report
CORPORATE ENERGY BUYERS ASSOCIATIONCORPORATE ENERGY BUYERS ASSOCIATION2025 first_quarter$140K1st Quarter - Report

Classification

The Congressional Research Service files H.R. 310 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 310’s is Taxation.

hr310/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 310, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 5 (Thursday, January 9, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. PERRY:H.R. 310.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the US Constitution[Page H93]

Source: congress.gov · legiscan.com