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US SB448

Bill

Official Source

Status

Introduced

2/6/2025

Primary Sponsor

Jerry Moran

Click for details

Origin

Senate

119th Congress

AI Summary

  • Amends Internal Revenue Code Section 45X to add distribution transformers to the list of eligible components for the advanced manufacturing production credit
  • Provides a tax credit equal to 10% of production costs incurred by taxpayers manufacturing distribution transformers
  • Defines "distribution transformer" using the existing definition in the Energy Policy and Conservation Act (42 U.S.C. 6291(35))
  • Applies to transformers produced and sold beginning 90 days after enactment
  • Introduced February 6, 2025 by Senator Moran (R-KS) and Senator Cortez Masto (D-NV) with bipartisan support

Legislative Description

CIRCUIT Act Credit Incentives for Resilient Critical Utility Infrastructure and Transformers Act

Taxation

Last Action

Read twice and referred to the Committee on Finance.

2/6/2025

Committee Referrals

Finance2/6/2025

Full Bill Text

No bill text available