US SB510

Amends Internal Revenue Code Section 7704(d)(1)(E) to expand qualifying income sources for publicly traded partnerships (PTPs) to include clean energy generation, storage, and transportation activities

Adds eligible PTP income from electric power or thermal energy generation using qualified renewable resources (wind, solar, geothermal, etc.), energy storage technology, and combined heat and power systems

Includes transportation and storage of alternative fuels such as biodiesel, renewable diesel, liquified hydrogen, compressed hydrogen, and fuels derived from captured carbon oxides achieving at least 60% lifecycle greenhouse gas reduction

Covers income from advanced nuclear facilities, qualifying gasification projects, carbon capture facilities (where at least 50% of carbon oxide production is qualified), and processing of open-loop biomass or municipal solid waste

Applies to taxable years beginning after December 31, 2025