S. 1043 · Where this bill is now
In committee
Introduced in the Senate, Mar 13, 2025
What this bill does
In plain words · AI-written from the official summaryExtends tax credit for fuel cell property
Right now, there's a tax credit that covers up to 30% of the cost when you install qualified fuel cell property, but it expires at the end of 2024. This bill pushes that deadline forward to the end of 2032, giving people and businesses eight more years to take advantage of the credit.
How it affects you
If you're considering installing fuel cell property for your home or business, this gives you a longer window to start construction and qualify for the tax credit. It doesn't change who can use the credit or how much it covers, just when it stops being available.
Read the official summary (Introduced in Senate, Mar 13, 2025)
This bill extends the energy investment tax credit for qualified fuel cell property for eight years.
Under current law, an energy investment tax credit of up to 30% of the cost of qualified fuel cell property is available provided construction of the qualified fuel cell property begins on or before December 31, 2024. This bill extends the energy investment tax credit to include qualified fuel cell property where construction begins on or before December 31, 2032.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionS. 1043
A BILL
A bill to amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property.
Sponsor: Sen. Lindsey Graham (R-SC) · Introduced Mar 13, 2025 · Taxation · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 13, 2025: “Read twice and referred to the Committee on Finance.”