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US SB1721
Bill
AI Summary
- Repeals over 20 green energy tax credits from the Internal Revenue Code, including credits for clean vehicles, residential clean energy, energy efficient home improvements, carbon oxide sequestration, clean hydrogen production, and renewable electricity production
- Eliminates tax incentives for biodiesel, renewable diesel, sustainable aviation fuel, and alternative fuels, along with related fuel mixture credits and refund provisions
- Removes business tax credits for advanced manufacturing production, qualifying advanced energy projects, new energy efficient homes, and energy efficient commercial buildings
- Repeals the petroleum excise tax under Chapter 38 of the tax code, effective January 1, 2026
- Most repeals take effect for property placed in service, vehicles acquired, or fuel sold after December 31, 2025, and also eliminates elective payment and credit transfer provisions (sections 6417 and 6418) for energy-related tax credits
Legislative Description
Energy Freedom Act
Taxation
Last Action
Read twice and referred to the Committee on Finance.
5/13/2025
Committee Referrals
Finance5/13/2025
Full Bill Text
No bill text available