Modifications of zero-emission nuclear power production credit

(a) Restrictions relating to prohibited foreign entities Section 45U(c) is amended by adding at the end the following new paragraph: (3) Restrictions relating to prohibited foreign entities (A) In general No credit shall be determined under subsection (a) shall be allowed under section 38 for any taxable year beginning after the date of enactment of this paragraph if the taxpayer is a specified foreign entity (as defined in section 7701(a)(51)(B)). (B) Other prohibited foreign entities No credit shall be determined under subsection (a) shall be allowed under section 38 for any taxable year beginning after the date which is 2 years after the date of enactment of this paragraph if the taxpayer is a foreign-influenced entity (as defined in section 7701(a)(51)(D)).. 7701(a)(51)(D), without regard to clause (i)(II) thereof).. (b) Termination of credit Section 45U(e) is amended by striking December 31, 2032 and inserting December 31, 2031. (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of enactment of this Act.