S-2118 : Still Just a Bill

Clean Energy for America Act

This bill provides for tax incentives for investments in clean electricity, clean transportation, energy efficiency, and the termination of certain provisions relating to oil, gas, and other fossil fuels.

Among other provisions, the bill

• allows new tax credits for investment in clean energy facilities and for the production of electricity from clean energy and clean fuel;
• allows a new tax credit for expenditures for clean energy property used in connection with a principal residence;
• allows a new tax credit for sustainable aviation fuel;
• allows an alternative motor vehicle tax credit for fuel cell motor vehicles, electric vehicles, and for refueling property;
• allows a tax credit for the production of electricity from clean hydrogen;
• extends for one year the second generation biofuel producer tax credit and the tax credit for alternative fuels;
• modifies existing tax credits for energy efficient residential buildings, energy efficient home improvement expenditures, geothermal heat pumps, and the tax deduction for energy efficient commercial buildings;
• terminates certain provisions relating to oil, gas, and other fossil fuels;
• requires that at least 15% of the total workforce labor hours be performed by qualified apprentices;
• requires that projects receiving federal assistance comply with federal prevailing wage requirements; and
• allows the issuance of tax-exempt private activity bonds for qualified carbon dioxide capture facilities.