To amend the Internal Revenue Code of 1986 to modify certain investment credit rules with respect to nuclear facilities.
- Bill Number
- H.R. 8482
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Taxation
- Status
- Introduced
- Latest Action
- 2026-04-23: Referred to the House Committee on Ways and Means.
- Last Updated
- 2026-07-01T08:08:59Z
AI-Generated Summary
Summary of H.R. 8482: Modification of Investment Credit Rules for Nuclear Facilities
Purpose
This bill aims to update tax rules in the Internal Revenue Code of 1986 to make nuclear power facilities eligible for certain investment tax credits (financial incentives that reduce tax liability for investments in qualifying energy projects). It removes specific limitations that previously restricted these credits for nuclear facilities.
Key Provisions
- Removal of Public Utility Property Limitation: Allows nuclear facilities (defined as "qualified facilities" under section 48E(b)(3)(A) that use nuclear energy to produce electricity) to elect out of the public utility property restriction. This amends section 50(d)(2).
- Elimination of Progress Expenditures Limit: Exempts nuclear facilities from rules limiting advance payments or "progress expenditures" for transferable tax credits under section 6418(g)(4).
- Effective Date: Changes apply to taxable years beginning after December 31, 2026.
Significant Changes to Existing Law
- Expands exceptions in section 50(d)(2) to include nuclear electricity-producing facilities alongside energy storage technologies, previously excluded from public utility limits.
- Adds a new exemption in section 6418(g)(4) for progress expenditure rules, specifically for nuclear facilities, enabling fuller use of investment credits during construction.
Potential Impacts
- Government Agencies: The IRS and Treasury Department may see increased claims for nuclear-related tax credits, requiring updated guidance and processing.
- Citizens and Businesses: Lowers financial barriers for nuclear projects, potentially speeding up development of nuclear power plants and increasing clean energy supply.
- No Direct International Relations Impact: Focuses on domestic tax policy.
Main Stakeholders Affected
- Nuclear Facility Developers and Operators: Gain better access to tax credits, reducing project costs.
- Investors and Utilities: Benefit from transferable credits and fewer restrictions on public utility property.
- Taxpayers: Indirectly affected through federal revenue changes from expanded credits.
- Energy Sector: Promotes nuclear energy as a reliable, low-emission power source.
Notable Legal, Constitutional, or Political Implications
- Legal: Straightforward tax code amendments; no challenges to enforcement anticipated, as it aligns with existing clean energy credit frameworks (e.g., sections 48E and 6418 from the Inflation Reduction Act).
- Constitutional: None identified; falls under Congress's taxing and spending powers.
- Political: Signals support for nuclear energy expansion, potentially influencing energy policy debates without altering broader regulatory frameworks.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (11)
Rep. Panetta, Jimmy [D-CA-19], Rep. Murphy, Gregory F. [R-NC-3], Rep. Suozzi, Thomas R. [D-NY-3], Rep. Haridopolos, Mike [R-FL-8], Rep. Fry, Russell [R-SC-7], Rep. Jack, Brian [R-GA-3], Rep. Carter, Earl L. "Buddy" [R-GA-1], Rep. Van Epps, Matt [R-TN-7], Rep. Whitesides, George [D-CA-27], Rep. McDowell, Addison P. [R-NC-6], Rep. McCormick, Richard [R-GA-7]
Recent Actions
- 2026-04-23: Referred to the House Committee on Ways and Means.
- 2026-04-23: Introduced in House
- 2026-04-23: Introduced in House
Bill Versions
- To amend the Internal Revenue Code of 1986 to modify certain investment credit rules with respect to nuclear facilities. — issued 2026-04-23 — PDF (2 pages)