IRA_2022_1660135894.7393072.txt

The Senate has passed a bill that would amend the Internal Revenue Code to provide for corporate tax reform. The bill would impose a new corporate alternative minimum tax, and would exempt certain corporations from the tax. The bill would also allow for a corporate AMT foreign tax credit.

The bill amends the tax code to exempt certain corporations from the corporate income tax if they meet the average annual adjusted financial statement income test for a three-year period ending after December 31, 2021. The bill also exempts certain corporations from the corporate income tax if they have a change in ownership or a specified number of consecutive taxable years in which they do not meet the average annual adjusted financial statement income test.

The preceding sentence shall not apply to any corporation if, after the Secretary makes the determination described in clause (ii), such corporation meets the average annual adjusted financial statement income test of subparagraph (B) for any taxable year beginning after the first taxable year for which such determination applies.

This section explains the treatment of adjusted financial statement income for purposes of the average annual adjusted financial statement income test for foreign-parented multinational groups. Specifically, it provides that the adjusted financial statement income of a corporation for a taxable year shall include the adjusted financial statement income of all members of the corporation's foreign-parented multinational group.

The Tax Cuts and Jobs Act amends the tax code to create a new tax on foreign-owned corporations doing business in the United States. The tax is imposed at a rate of 20 percent on the corporation's income from its U.S. operations. The tax is in addition to the existing corporate income tax and is not deductible against it. The tax applies to corporations with annual revenue of at least $500 million from their U.S. operations.

The term "alternative minimum taxable income" means the taxable income of the taxpayer for the taxable year, determined with the adjustments provided in section 56 and section 58, and increased by the amount of the items of tax preference described in section 57. If a taxpayer is subject to the regular tax, such taxpayer shall be subject to the tax imposed by this section (and, if the regular tax is determined by reference to an amount other than taxable income, such amount shall be treated as the taxable income of such taxpayer for purposes of the preceding sentence).

This clause amends the tax code to include a new section (56A) on adjusted financial statement income. Adjusted financial statement income is defined as the net income or loss of a corporation set forth on the corporation's applicable financial statement for the taxable year, adjusted as provided in this section. The section goes on to specify what an applicable financial statement is and how to make adjustments for consolidated financial statements and for dividends and other amounts.

If a taxpayer is a shareholder of one or more controlled foreign corporations, the taxpayer's adjusted financial statement income with respect to such controlled foreign corporation shall be adjusted to also take into account the taxpayer's pro rata share of items taken into account in computing the corporation's net income or loss.

The Foreign Investment in Real Property Tax Act of 1980 (the "Act") imposes a tax on the sale or exchange of certain foreign real property interests. The tax is imposed on the gain realized from the sale or exchange. The tax is imposed at a rate of 10 percent of the gain if the property is held for more than one year, and at a rate of 15 percent if the property is held for less than one year.

This section describes the treatment of current and deferred taxes for purposes of determining adjusted financial statement income. It also includes a special rule for cooperatives and a rule for disregarding income from entities owned by the taxpayer.

This section of the code deals with the taxation of income from mortgage servicing contracts. It stipulates that such income may not be included in gross income under any other provision of the code until it is actually received. Additionally, the Secretary of the Treasury is authorized to promulgate regulations to prevent the avoidance of taxes on amounts not representing reasonable compensation for services rendered under the contract. Finally, this section provides for special adjustments to be made to income from defined benefit pension plans for tax purposes.

This section explains how depreciation and amortization deductions will be handled for purposes of computing adjusted financial statement income. Depreciation deductions will be taken into account to the extent allowed as deductions in computing taxable income for the year, and amortization deductions will be taken into account to the extent of the amount allowed as deductions in computing taxable income for the year. In addition, any other items specified by the Secretary will be taken into account in order to provide that property is accounted for in the same manner as it is accounted for under this chapter.

The "qualified wireless spectrum" refers to the wireless spectrum that is used in the trade or business of a wireless telecommunications carrier, and which was acquired after December 31, 2007, and before the date of enactment of this section. The deduction for financial statement net operating loss is the lesser of the aggregate amount of financial statement net operating loss carryovers to the taxable year, or 80 percent of adjusted financial statement income computed without regard to the deduction allowable under this subsection.

This section amends the Internal Revenue Code to create a new section 56A, which allows corporations to take a deduction for adjusted financial statement net operating losses. The deduction is available for taxable years ending after December 31, 2019. The deduction is subject to regulations and other guidance issued by the Treasury Department.

The Tax Cuts and Jobs Act amends the tax code to provide a credit for corporations that have paid or accrued income, war profits, and excess profits taxes to any foreign country or possession of the United States. The credit is available for taxable years beginning after December 31, 2017, and before January 1, 2026. The credit is equal to the lesser of the amount of taxes paid or accrued, or the product of the amount of the adjustment under section 56A(c)(3) and the percentage specified in section 55(b)(2)(A)(i). The credit is carryoverable for five succeeding taxable years.

The excise tax on repurchase of corporate stock under the new chapter 37 of subtitle D of the Internal Revenue Code shall be 1 percent of the fair market value of any stock of the corporation which is repurchased by such corporation during the taxable year. A "covered corporation" is any domestic corporation the stock of which is traded on an established securities market. "Repurchase" means a redemption within the meaning of section 317(b) with regard to the stock of a covered corporation, and any transaction treated as a redemption for purposes of section 302.

The acquisition of stock of a covered corporation by a specified affiliate of such covered corporation, from a person who is not the covered corporation or a specified affiliate of such covered corporation, shall be treated as a repurchase of the stock of the covered corporation by such covered corporation.

This section of the bill deals with the treatment of foreign corporations for the purposes of the repurchase of stock by a covered corporation. A covered corporation is defined as a corporation that has either moved its headquarters out of the United States or has merged with a foreign corporation. A specified affiliate of a foreign corporation is also treated as a covered corporation for the purposes of this section. The adjustment under subsection (c)(3) shall be determined only with respect to stock issued or provided by such specified affiliate to employees of the specified affiliate.

Subsection (a) of this section shall not apply to the extent that the repurchase is part of a reorganization (within the meaning of section 368(a)) and no gain or loss is recognized on such repurchase by the shareholder under chapter 1 by reason of such reorganization.

This section amends section 10 275(a) of the Internal Revenue Code to insert 37, before 41. It also amends the table of chapters for subtitle D by inserting a new item after the item relating to chapter 36, to create chapter 37, which deals with the repurchase of corporate stock. This section applies to repurchases of stock after December 31, 2022.

The Internal Revenue Service is allocated $45,637,400,000 for operations and $25,326,400,000 for enforcement and administration. Additionally, $4,750,700,000 is allocated for business systems modernization.

The Department of the Treasury is allocated $15,000,000 to develop and run a free direct efile tax return system, with a focus on multi-lingual and mobile-friendly features and safeguards for taxpayer data. The Treasury Inspector General for Tax Administration is allocated $403,000,000 to carry out the Inspector General Act of 1978, as amended. The Office of Tax Policy is allocated $104,533,803 to carry out functions related to promulgating regulations under the Internal Revenue Code of 1986. The United States Tax Court is allocated $153,000,000 to carry out its functions.

The Social Security Act is amended by adding a new part, the Drug Price Negotiation Program, which requires the Secretary to negotiate and, if necessary, renegotiate maximum fair prices for selected drugs with manufacturers. The program also requires the publication of a list of selected drugs and the carrying out of administrative duties and compliance monitoring.

The "applicability year" is the year in which a selected drug is first subject to the maximum fair price. The "price applicability period" is the period during which the drug is a selected drug. The "selected drug publication date" is the date on which the drug is first identified as a selected drug. The "negotiation period" is the period during which the manufacturer of the drug and the Secretary of Health and Human Services negotiate the maximum fair price for the drug.

This section of the bill establishes a new program to negotiate drug prices on behalf of Medicare Part B and D enrollees, and sets the maximum fair price for a selected drug at the price negotiated by the program. The program will be implemented in 2026.

The bill modifies the calculation of the average manufacturer price (AMP) for drugs and biologicals under the Medicaid drug rebate program and the calculation of the base date manufacturer price for new drugs under the 340B drug pricing program. The bill also delays the start date for certain provisions of the Medicare Drug and Biological Pricing Transparency Act of 2020.

This section of the bill deals with the selection of negotiation-eligible drugs as selected drugs. The Secretary of Health and Human Services must select and publish a list of negotiation-eligible drugs for each initial price applicability year. The number of negotiation-eligible drugs selected must increase each year, from 10 in 2026 to 20 in 2029 and subsequent years. Each drug on the list must be subject to the negotiation process under section 1194.

The Secretary of Health and Human Services will rank negotiation-eligible drugs according to total expenditures for the drugs under Medicare parts B and D during a 12-month period, with the highest-ranked drugs being selected for negotiation. For initial price applicability years 2026 and 2027, the ranking and selection process will be applied only to drugs covered under Medicare part D.

The drug negotiation process under this bill would apply to a selected drug with respect to the initial price applicability year and each subsequent year. A selected drug is a drug that is approved or licensed under the Federal Food, Drug, and Cosmetic Act or the Public Health Service Act and is marketed pursuant to such approval or licensure. A negotiation-eligible drug is a qualifying single source drug that is among the 50 highest spending drugs in Medicare Part D based on total cost per year.

This section of the bill establishes exceptions for small biotech drugs from the definition of "negotiation-eligible drug." A qualifying single source drug is not considered a negotiation-eligible drug if it meets either of the following criteria: (1) for Part D drugs, the total expenditures for the qualifying single source drug under Part D of title XVIII are equal to or less than 1 percent of the total expenditures under such Part D for all covered Part D drugs during the year; or (2) for Part B drugs, the total expenditures for the qualifying single source drug under Part B of title XVIII are equal to or less than 1 percent of the total expenditures under such Part B for all covered Part B drugs during the year.

This section of the bill clarifies that certain drugs will not be counted towards the total number of qualifying single source drugs for a manufacturer, and that the Secretary shall use data from the previous year to determine whether a manufacturer meets the requirements for selection.

The "Qualifying Single Source Drug" is a term used by the Centers for Medicare and Medicaid Services (CMS) to denote a covered Part D drug that meets any of the criteria described in paragraphs (1) or (2) of section 1860D-4(e) of the Social Security Act. A drug that meets the criteria in paragraph (1) is a drug that is approved by the FDA under section 505(c) of the Federal Food, Drug, and Cosmetic Act and has been on the market for at least seven years. A drug that meets the criteria in paragraph (2) is a biological product that is licensed by the FDA under section 351(a) of the Public Health Service Act and has been on the market for at least eleven years.

This section defines a qualifying single source drug as a drug that is the listed drug or a product described in clause (ii) of subparagraph (B), with respect to an authorized generic drug. An authorized generic drug is defined as a drug that is an authorized generic drug or a product that has been licensed under section 351(a) of the Federal Food, Drug, and Cosmetic Act and is marketed, sold, or distributed directly or indirectly to retail class of trade under a different labeling, packaging, product code, labeler code, trade name, or trade mark than the reference product.

The Department of Health and Human Services will enter into agreements with manufacturers of selected drugs, in order to negotiate a maximum fair price for the drug. The agreement will be for the initial price applicability year for the selected drug. If a manufacturer does not agree to the maximum fair price, the manufacturer will be required to pay a rebate to the Department.

This section of the bill requires manufacturers to provide access to maximum fair prices for drugs to certain eligible individuals and entities during the price applicability period. The Secretary of Health and Human Services and the manufacturer must renegotiate the maximum fair price for the drug at the end of the period, in order for the manufacturer to provide access to the newly negotiated price during the following year.

The manufacturer of a selected drug will provide access to the maximum fair price to eligible individuals and hospitals, physicians, and other providers of services and suppliers. The manufacturer will also submit information to the Secretary on the non-Federal average manufacturer price for the drug and information that the Secretary requires to carry out the negotiation process. The manufacturer will comply with requirements determined by the Secretary to be necessary for administering the program and monitoring compliance with the program.

The Secretary of Health and Human Services may negotiate with drug manufacturers to set a maximum fair price for selected drugs, and these agreements may be renewed. Information submitted by manufacturers is confidential and will only be used by the Secretary or the Comptroller General. If a manufacturer has an agreement with a covered entity under the 340B program, the manufacturer is not required to provide the maximum fair price to the covered entity if the ceiling price is lower than the maximum fair price.

The Secretary of Health and Human Services shall negotiate a maximum fair price for a selected drug with the manufacturer during the negotiation period. If the drug is a renegotiation-eligible drug, the Secretary shall renegotiate the maximum fair price for the drug during the renegotiation period.

The manufacturer of a selected drug will be given an initial offer by the government, which the manufacturer can either accept or counter. If the manufacturer counters, the government will respond in writing, and all negotiations must end before November 1st. The maximum fair price for the selected drug cannot exceed the lower of the two amounts specified in subparagraphs B and C of this section.

This section of the bill deals with the payment amount for covered drugs under Medicare Part D. For drugs covered under Part D, the payment amount will be the sum of the plan-specific enrollment weighted amounts for each prescription drug plan or MAPD plan. For drugs covered under Part B, the payment amount will be the amount specified in section 1847A(b)(4) of the Social Security Act.

The average non-Federal manufacturer price for a drug will be increased by the percentage increase in the consumer price index from the year prior to the year of the drug's publication date. The plan specific enrollment weighted amount for a prescription drug plan or an MAPD plan will be the negotiated price of the drug for the most recent year, multiplied by the total number of individuals enrolled in the plan divided by the total number of individuals enrolled in a prescription drug plan or an MAPD plan.

This section defines the terms "extended-monopoly drug" and "long-monopoly drug" for purposes of the drug pricing provisions in this bill. An extended-monopoly drug is a selected drug for which at least 12, but fewer than 16, years have elapsed since its approval or licensure. A long-monopoly drug is a selected drug for which at least 16 years have elapsed since its approval or licensure. Vaccines are excluded from both definitions.

The average manufacturer price for a selected drug is determined by the average of the non-Federal manufacturer prices for the drug for the four calendar quarters of the year involved. For a qualifying single source drug with an initial price applicability year of 2029 or 2030, the maximum fair price negotiated under this section for such drug for such initial price applicability year may not be less than 66 percent of the average non-Federal average manufacturer price for such drug for 2021. The Secretary shall consider the following manufacturer-specific data when determining the offers and counteroffers for the selected drug: research and development costs of the manufacturer for the drug, historical sales volume of the drug, and other factors as determined by the Secretary.

The bill requires the Secretary of Health and Human Services to select a drug for negotiation in order to secure the best possible price for the drug, taking into account the following factors: the manufacturer's research and development costs, the current unit costs of production and distribution, prior Federal financial support for novel therapeutic discovery and development, data on pending and approved patent applications and exclusivities, market data and revenue and sales volume data. In addition, the Secretary must consider evidence about alternative treatments, including the extent to which the drug represents a therapeutic advance, prescribing information, comparative effectiveness, and unmet medical needs.

The Secretary of Health and Human Services is required to renegotiate the maximum fair price for certain drugs selected under this section, beginning in 2028. The selection process for these drugs includes all drugs for which a new indication is added, all drugs for which there is a change in status to that of an extended-monopoly drug, and all drugs for which there is a change in status to that of a long-monopoly drug.

This section of the bill establishes a process for the renegotiation of maximum fair prices for certain drugs. The process is to be consistent with the methodology and process established under subsection (b) and in accordance with subsections (c), (d), and (e). A drug for which the Secretary makes a determination described in section 1192(c)(1) before or during the period of renegotiation shall not be subject to the renegotiation process.

The Secretary of Health and Human Services must publish the maximum fair price for a selected drug at least two years prior to the initial price applicability year. The maximum fair price may be increased each year by the annual percentage increase in the consumer price index. If a drug's maximum fair price is renegotiated, the new price will apply for the first year it is in effect.

The maximum fair price for a selected drug is determined by the Secretary and published not later than 30 days after the date such maximum price is so determined. The maximum fair price is applied before any coverage or financial assistance under other health benefit plans or programs that provide coverage or financial assistance for the purchase or provision of prescription drug coverage on behalf of maximum fair price eligible individuals. The maximum fair price is also applied across different strengths and dosage forms of a selected drug and not based on the specific formulation or package size or package type of such drug.

This section establishes civil monetary penalties for manufacturers who do not provide access to a maximum fair price for a selected drug to eligible individuals.

This section establishes civil monetary penalties for drug manufacturers who overcharge for drugs covered by Medicaid. The penalties are $10,000 per unit of the overpriced drug, $1,000,000 per day for violating terms of an agreement with Medicaid, and $100,000,000 for each item of false information provided to Medicaid.

The bill limits administrative and judicial review of certain determinations related to drug pricing, including the determination of a maximum fair price for a drug. The bill also applies the maximum fair price to payments under Medicare and Medicaid, and exempts certain drugs from the non-interference clause in the Medicare Part D program.

This section of the Social Security Act is amended to require that, for prescription drug plans offered by a PDP sponsor, each covered part D drug that is a selected drug under section 1192 be included for which a maximum fair price is in effect for the year.

This section amends the Social Security Act to require prescription drug plans and Medicare Advantage plans to provide information on maximum fair prices for drugs to the Secretary of Health and Human Services. It also requires these plans to cover a drug manufacturer's products for a period of time during which the manufacturer is in violation of the Internal Revenue Code.

This section amends the Social Security Act to require that drug prices charged by manufacturers during certain rebate periods be inclusive of the maximum fair price for the drug. It also excludes the maximum fair price from the average manufacturer price calculation.

The new 12 subclause requires the manufacturer to reduce the price of a drug during the rebate period if the drug is selected for biosimilar market entry. This section applies to drugs selected for biosimilar market entry for 2026, 2027, and 2028.

The Secretary of Health and Human Services may delay the inclusion of a biosimilar biological product on the list of extended-monopoly drugs if the manufacturer requests a delay and it is determined that there is a high likelihood that the biosimilar product will be licensed and marketed before the selected drug's expiration date.

The manufacturer of a biosimilar biological product must submit to the Secretary of Health and Human Services (HHS) information and documents necessary for the Secretary to make determinations under this subsection, as specified by the Secretary and including, to the extent available, items described in subclause (III). After the Secretary has reviewed the request and materials submitted under subclause (I), the manufacturer shall submit any additional information and documents requested by the Secretary necessary to make determinations under this subsection. The items described in this clause are the following: (aa) The manufacturing schedule for such biosimilar biological product submitted to the Food and Drug Administration during its review of the application under such section 351(k). (bb) Disclosures (in filings by the manufacturer of such biosimilar biological product with the Securities and Exchange Commission required under section 12(b), 12(g), 13(a), or 15(d) of the Securities Exchange Act of 1934 about capital investment, revenue expectations, and actions taken by the manufacturer that are typical of the normal course of business in the year (or the 2 years, as applicable) before marketing of a biosimilar biological product) that pertain to the marketing of such biosimilar biological product, or comparable documentation that is distributed to the shareholders of privately held companies.

The Internal Revenue Code of 1986 requires that manufacturers of biosimilar biological products be treated as one manufacturer for purposes of pricing. This rule applies to partnerships, syndicates, groups, joint ventures, or other organizations through which any business, financial operation, or venture is carried on. If a determination of high likelihood is made that a biosimilar biological product has not been licensed and marketed during the time period between the selected drug publication date on which the biological product would have been included on the list as a selected drug pursuant to subsection (a) but for sub paragraph (A) and the selected drug publication date with respect to the initial price applicability year that is 1 year after the initial price applicability year for which such biological product would have been included as a selected drug on such list, the Secretary shall delay the inclusion of the biological product as a selected drug on the list published under subsection (a) until such list is published with respect to the initial price applicability year that is 1 year after the initial price applicability year for which the biological product would have been included as a selected drug on such list.

The Secretary of Health and Human Services shall reevaluate whether there is a high likelihood that a biosimilar biological product will be licensed and marketed before the date that is 2 years after the selected drug publication date for which such biological product would have been included as a selected drug on such list published but for subparagraph (A). If the Secretary determines that there is not a high likelihood that such biosimilar biological product will be licensed and marketed as described in clause (i)(I) or there has not been a significant amount of progress as described in clause (i)(II), the manufacturer of such biosimilar biological product shall pay a rebate under paragraph (4) with respect to the year for which such manufacturer would have provided access to a maximum fair price for such biological product.

This section of the bill delays the inclusion of a biosimilar biological product on the list of selected drugs published under subsection (a) until the selected drug publication date of such list with respect to the initial price applicability year that is 2 years after the initial price applicability year for which such biological product would have been included as a selected drug on such list but for this subsection. If, during the time period between the selected drug publication date of the list for which the biological product would have been included as a selected drug but for this subsection and the selected drug publication date with respect to the initial price applicability year that is 2 years after the initial price applicability year for which such biological product would have been included as a selected drug on such list but for this subsection, the Secretary determines that such biosimilar biological product has not been licensed and marketed, the Secretary shall include such biological product as a selected drug on such list with respect to the initial price applicability year that is 2 years after the initial price applicability year for which such biological product would have been included as a selected drug on such list.

The Secretary of Health and Human Services is authorized to delay the inclusion of a biological product on the list of selected drugs published under subsection (a) for no more than two years. In no case may the Secretary delay the inclusion of a biological product on the list published under subsection (a) if more than one year has elapsed since the biosimilar biological product has been licensed under section 351(k) of the Public Health Service Act and marketing has not commenced for such biosimilar biological product.

This section describes a delay in the inclusion of a biosimilar biological product on the list under subsection (a) if the Secretary finds there is a high likelihood that the biosimilar biological product will be marketed within the time period specified under paragraph (1)(A) or (2)(B)(i)(I). The manufacturer of the biosimilar biological product shall be required to pay a rebate to the Secretary at such time and in such manner as determined by the Secretary.

This section of the bill deals with the pricing of biological products. In the case of a biological product that is a covered part D drug, the sum of the manufacturer's price for the product and the number of units dispensed under part D of Medicare for the drug during a certain period is used to calculate the payment amount for the product. In the case of a biological product for which payment may be made under part B of Medicare, the sum of the payment amount for the product and the number of units dispensed under part B of Medicare for the product during a certain period is used to calculate the payment amount for the product.

This section of the bill establishes the maximum fair price for a biological product and the amount of the rebate for such product. The fair price is increased as described in section 1195(b)(1)(A), and the number of units of the product is increased as well. If the product qualifies as a long-monopoly drug, the amount of the rebate is increased by 65 percent.

This section amends the Social Security Act to require manufacturers of biosimilar biological products to provide rebates to Medicare and Medicaid. The rebates shall be deposited into the Federal Supplementary Medical Insurance Trust Fund or the Medicare Prescription Drug Account, depending on the product. The section also defines the term "biosimilar biological product" and makes other conforming amendments.

The Social Security Act is amended by adding a new chapter on designated drugs during noncompliance periods. This chapter imposes a tax on the sale of any designated drug during a day when the manufacturer does not have an agreement in place with the Secretary of Health and Human Services.

The Affordable Care Act establishes a process for setting maximum fair prices for certain designated drugs. This process applies to drugs that are selected for renegotiation by the Secretary of Health and Human Services. With respect to information that is required to be submitted to the Secretary of Health and Human Services under an agreement described in section 1193(a) of the Social Security Act, the period beginning on the date on which such Secretary certifies that such information

The "applicable percentage" for the Medicare coverage gap discount program is 65% for the first 90 days that a drug is on the market, 75% for the next 90 days, and 80% thereafter.

The excise tax on designated drugs manufactured or produced in the United States or entered into the United States for consumption, use, or warehousing is increased from 85 percent to 95 percent.

The bill requires manufacturers of Medicare Part B rebatable drugs to pay a rebate to the Centers for Medicare & Medicaid Services (CMS) if the price of the drug increases faster than inflation. The bill appropriates $3,000,000,000 to CMS to carry out the provisions of the bill.

This section of the bill deals with rebates for Part B drugs. Part B rebatable drugs are defined as single-source drugs or biologicals (including biosimilar products) for which payment is made under Part B, with the exception of vaccines or drugs/biologicals for which the average total allowed charges per year per individual user is less than $100 (as adjusted for inflation). For each Part B rebatable drug, manufacturers must provide the Secretary with information on the drug's price and market share, and must pay a rebate equal to the difference between the price of the drug and its benchmark price, as specified in the bill. There is a transition rule for reporting in 2023 and 2024, and the Secretary is authorized to delay the timeframe for reporting until 2025.

The amount specified in this paragraph for a part B rebatable drug assigned to a billing and payment code for a calendar quarter is, subject to subparagraphs (B) and (G) and paragraph (4), the estimated amount equal to the product of (i) the total number of units determined under subparagraph (B) for the billing and payment code of such drug; and (ii) the amount (if any) by which (I) the amount equal to (aa) in the case of a part B rebatable drug described in paragraph (1)(B) of subsection (b), 106 percent of the amount determined under paragraph (4) of such section for such drug during the calendar quarter; or (bb) in the case of a part B rebatable drug described in paragraph (1)(C) of such subsection, the payment amount under such paragraph for such drug during the calendar quarter; exceeds (II) the inflation-adjusted payment amount determined under subparagraph (C) for such part B rebatable drug during the calendar quarter.

This section of the bill establishes the payment amount for Part B rebatable drugs for each calendar quarter. The payment amount is determined by the inflation-adjusted payment amount for the drug in the payment amount benchmark quarter (July 1, 2021), increased by the percentage by which the rebate period CPIU (as defined in subparagraph (F)) for the calendar quarter exceeds the benchmark period CPIU (as defined in subparagraph (E)). The Secretary may reduce or waive the amount under subparagraph (A) with respect to a part B rebatable drug and a calendar quarter in the case of a part B rebatable drug that is described as currently in shortage on the shortage list in

This section of the bill deals with rebates for drugs covered under Part B of Medicare. For drugs first approved or licensed after December 1, 2020, the rebate amount will be based on the third full calendar quarter after the drug is first marketed. For subsequently approved drugs, the rebate will be based on the later of the 6th full calendar quarter after the drug is first marketed or January 1, 2023.

This section of the bill deals with the payment amount for Part B rebatable drugs. The payment amount for a calendar quarter is the lesser of the drug's price for that quarter or the inflation-adjusted payment amount determined under paragraph (3)(C) for such Part B rebatable drug. If the payment amount for a calendar quarter exceeds the inflation-adjusted payment for such quarter, the coinsurance for such calendar quarter is equal to 20 percent of the inflation-adjusted payment amount determined under paragraph (3)(C) for such Part B rebatable drug. Amounts paid as rebates under paragraph (1)(B) are to be deposited into the Federal Supplementary Medical Insurance Trust Fund established under section 1841.

The Social Security Act is amended to require manufacturers of rebatable drugs to pay a civil money penalty if the drug fails to comply with certain requirements for a calendar quarter. The penalty is equal to at least 125 percent of the amount specified in the Act for such drug for the quarter. There is no administrative or judicial review of the determination of the penalty amount.

This section amends the Social Security Act to require the payment for certain drugs under Medicare Part B to be equal to the inflation-adjusted payment under Part B for such drugs.

This section amends the Social Security Act to include provisions related to the calculation of copayments for Part B drugs under the Medicare program. It also includes provisions for the disclosure of rebate information to Medicaid programs, and excludes Part B drug rebates from the calculation of the Average Manufacturer Price. Finally, it appropriates additional funds to the Centers for Medicare & Medicaid Services to cover the costs associated with these changes.

This section requires drug manufacturers to provide rebates to the Secretary for drugs that have prices that increase faster than inflation. The rebates must be equal to the amount specified in subsection (b) for each dosage form and strength of the drug. This section applies to drugs covered under Part D of the Social Security Act.

The 15 Secretary may, for each rebatable covered part D 16 drug, delay the timeframe for reporting the informa17 tion and rebate amount described in subparagraphs 18 (A) and (B) of such paragraph for the applicable pe19 riods beginning October 1, 2022, and October 1, 2023, 20 until not later than December 31, 2025. 21 (b) REBATE AMOUNT. 22 (1) IN GENERAL. 23 (A) CALCULATION.For purposes of this 24 section, the amount specified in this subsection 25 for a dosage form and strength with respect to a part D rebatable drug and applicable period is, subject to subparagraph (C), paragraph (5)(B), and paragraph (6), the estimated amount equal to the product of (i) subject to subparagraph (B) of this paragraph, the total number of units of such dosage form and strength for each rebatable covered part D drug dispensed under this part during the applicable period; and (ii) the amount (if any) by which (I) the annual manufacturer price (as determined in paragraph (2)) paid for such dosage form and strength with respect to such part D rebatable drug for the period; exceeds (II) the inflation-adjusted payment amount determined under paragraph (3) for such dosage form and strength with respect to such part D rebatable drug for the period. (B) EXCLUDED UNITS.For purposes of subparagraph (A)(i), beginning with plan year 2026, the Secretary shall exclude from the total number of units for a dosage form and strength with respect to a part D rebatable drug, with respect to an applicable period, units of each dosage form and strength of such part D rebatable drug for which the manufacturer provides a discount under the program under section 340B of the Public Health Service Act. (C) REDUCTION OR WAIVER FOR SHORTAGES AND SEVERE SUPPLY CHAIN DISRUPTIONS.The Secretary shall reduce or waive the amount under subparagraph (A) with

This section of the bill reduces or waives the manufacturer price of a Part D rebatable drug for a period of time if the drug is in short supply or if there is a severe supply chain disruption. The annual manufacturer price is determined by the average manufacturer price for each calendar quarter of the applicable period, multiplied by the total number of units of the drug reported for that quarter.

The benchmark manufacturer price for a rebatable drug is determined by the average manufacturer price for the drug in the payment amount benchmark period, increased by the percentage by which the CPIU for the period exceeds the benchmark period CPIU. For drugs first approved or licensed after October 1, 2021, the payment amount benchmark period is the first calendar year after the drug is first marketed.

This section establishes a formula for determining the rebate amount and inflation-adjusted payment amount for certain drugs. The formula is applied as if the CPIU were defined as if the reference to January 2021 were a reference to January of the first year after the date on which the drug was first marketed. For drugs that are line extensions of other drugs, the formula is applied consistent with the formula used for determining rebate obligations under section 1927. For selected drugs that are no longer considered selected drugs, the payment amount benchmark period is the last year during the price applicability period.

This section of the bill requires drug manufacturers to provide rebates to the Medicare program for certain drugs dispensed to Medicare beneficiaries. The rebates are based on the difference between the drug's price and a benchmark price. If a manufacturer does not provide the required rebate, they may be subject to a civil money penalty.

The manufacturer shall be subject to a civil money penalty in an amount equal to 125 percent of the amount specified in subsection (b) for such drug for such period. The provisions of section 1128A shall apply to a civil money penalty under this subsection in the same manner as such provisions apply to a penalty or proceeding under section 1128A(a). There shall be no administrative or judicial review of any of the following: (1) The determination of units under this section. (2) The determination of whether a drug is a part D rebatable drug under this section. (3) The calculation of the rebate amount under this section.

The Consumer Price Index for all urban consumers in the United States will increase by the specified amount for the 12-month period beginning with October of 2023. This amount will be increased by the percentage increase in the Consumer Price Index for all urban consumers for the 12-month period beginning with October of the previous period. Any dollar amount specified that is not a multiple of $10 will be rounded to the nearest multiple of $10.

This section establishes a new rebate program for Part D drugs, to be implemented in 2022, 2023, and 2024. Under the program, manufacturers of Part D drugs will be required to pay rebates to the Secretary if the price of the drug increases faster than inflation.

This section amends the Social Security Act to include rebates from prescription drug manufacturers as part of the calculation for Medicaid reimbursement rates. It also excludes these rebates from the calculation of the Average Manufacturer Price (AMP). Finally, it appropriates $80 million for fiscal year 2022 to carry out these provisions.

This section amends section 1860D2(b) of the Social Security Act to redesign the Medicare Part D benefit structure for years preceding 2025. The annual deductible and out-of-pocket threshold will be increased for 2025 and each subsequent year.

This section of the bill redesignates items in the matter preceding item (aa) as items (I) and (II), respectively, and moves the margin of each such redesignated item 2 ems to the right. It also redesignates clause (i)(I) as clause (i)(I)(aa) and adds a new sentence at the end of clause (ii). For 2024 and each succeeding year, the dollar amount specified in clause (i)(I)(aa) will be $0.

The Social Security Act is amended to include a new section on prescription drug costs. For years 2025 and beyond, the amount of allowable reinsurance costs will be increased to 20 percent for applicable drugs and 40 percent for other covered drugs.

The manufacturer discount program is established in order to provide discounts on applicable drugs to individuals who have incurred costs that exceed the annual out-of-pocket threshold. Under the program, manufacturers will agree to provide the discounts and the Secretary will make payments to the manufacturers for the difference between the negotiated price and the applicable drug's retail price.

The manufacturer must provide discounted prices for applicable drugs of the manufacturer that are dispensed to applicable beneficiaries on or after January 1, 2025. The manufacturer must also collect and have available appropriate data to ensure that it can demonstrate to the Secretary compliance with the requirements under the program.

The Secretary of Health and Human Services is responsible for administering the discount program for prescription drugs, including determining eligibility and establishing procedures. Agreements with manufacturers are automatically renewed for at least one year unless terminated by the Secretary for violation of the agreement or other good cause, or by the manufacturer for any reason. Termination by the manufacturer is effective at the end of the plan year.

The purpose of this section is to establish a program to provide discounts on prescription drugs for certain Medicare beneficiaries. The discounts will be applied before any coverage or financial assistance under other health benefit plans or programs that provide coverage or financial assistance for the purchase or provision of prescription drug coverage on behalf of applicable beneficiaries as specified by the Secretary. The Secretary shall monitor compliance by a manufacturer with the terms of an agreement under this section, and may collect appropriate data from prescription drug plans and Medicare Advantage plans in a timeframe that allows for discounted prices to be provided for applicable drugs under this section.

This section describes a program where manufacturers provide discounted prices for applicable drugs to applicable beneficiaries. The Secretary shall not receive or distribute any funds of a manufacturer under the program. A manufacturer that fails to provide discounted prices for applicable drugs of the manufacturer dispensed to applicable beneficiaries in accordance with an agreement in effect under this section shall be subject to a civil money penalty for each such failure. The provisions of section 1128A shall apply to a civil money penalty under this subsection in the same manner as such provisions apply to a penalty or proceeding under section 1128A(a). This section does not prevent an applicable beneficiary from purchasing a covered part D drug that is not an applicable drug.

The annual deductible for covered drugs under Medicare Part D is $415 in 2020. The term "applicable drug" means a covered Part D drug that is approved by the FDA and is on the formulary of the prescription drug plan or Medicare Advantage Prescription Drug (MAPD) plan that the applicable beneficiary is enrolled in. The term "applicable number of calendar days" means 14 days for electronically submitted claims and 30 days for other claims. The "discounted price" is the price of a covered drug after the annual deductible has been met.

The Affordable Care Act requires drug manufacturers to provide a discount on drugs to low-income seniors who fall into the "coverage gap." This discount is phased in over time, starting at 50% in 2011 and reaching 75% by 2020. In 2021, the discount will be based on the "specified LIS percent" of the negotiated price of the drug.

The "specified drug" for a given manufacturer is defined as an applicable drug produced, prepared, propagated, compounded, converted, or processed by that manufacturer. For the purposes of this section, all persons treated as a single employer under subsection (a) or (b) of section 52 of the Internal Revenue Code of 1986 shall be treated as one manufacturer. A manufacturer described in this clause shall not be considered a "specified manufacturer" if such manufacturer is acquired after 2021 by another manufacturer that is not a specified manufacturer. The "specified LIS percent" is the percentage of applicable drugs dispensed to low-income subsidy (LIS) beneficiaries that are produced by specified manufacturers.

The term "discounted price" means the specified small manufacturer percentage of the negotiated price of the applicable drug of the manufacturer. The term "specified small manufacturer" means a manufacturer of an applicable drug for which, in 2021, the manufacturer is a specified manufacturer (as defined in subparagraph (B)(ii)) and the total expenditures under part D for any one of the specified small manufacturer drugs of the manufacturer that are covered by the agreement or agreements under section 1860D 14A of such manufacturer for such year and covered under this part during such year are equal to or more than 80 percent of the total expenditures under this part for all specified small manufacturer drugs of the manufacturer that are covered by such agreement or agreements for such year and covered under this part during such year.

This section defines "drugs" for purposes of the Medicare Part D prescription drug benefit, and establishes a percentage threshold for specified small manufacturers. The threshold is used to determine whether a manufacturer's drugs will be subject to price controls under the benefit.

The Affordable Care Act requires drug manufacturers to provide discounts on certain covered drugs to Medicare Part D enrollees. The discounts are tiered, with the largest discounts available to those enrollees with the highest out-of-pocket costs. The law also requires manufacturers to provide discounts on drugs for beneficiaries who reach the Part D coverage gap.

The Secretary of Health and Human Services will provide a subsidy to prescription drug plans or Medicare Advantage plans that cover drugs that would be applicable drugs (as defined in section 1860D14C(g)(2)) but for the application of subparagraph (B) of such section. The subsidy will be provided to the plan on a periodic and timely basis, and will be used to offset the costs incurred by the plan for the drug.

The Medicare Coverage Gap Discount Program is set to expire on January 1, 2025. The program provided discounts on drugs for Medicare recipients. After the expiration, agreements under the program will also be terminated.

This section of the bill establishes premium stabilization for prescription drug plans under Medicare from 2024-2029. The base beneficiary premium for a given year will be equal to the lesser of (1) the base beneficiary premium from the previous year increased by 6 percent, or (2) the base beneficiary premium that would have applied if this section had not been enacted.

The base beneficiary premium for 2030 and subsequent years shall be computed under paragraph (2) or (8) of subsection (a) of the Social Security Act (42 U.S.C. 1395w113(a)), as amended by this paragraph, without regard to this paragraph. The percent specified under this paragraph for 2030 and each subsequent year is the percent that the Secretary determines is necessary to ensure that the base beneficiary premium computed under paragraph (2) of such subsection does not exceed the base beneficiary premium computed under such paragraph for 2019.

This section of the Social Security Act outlines how the base beneficiary premium for Medicare Part D will be determined for the years 2030 and beyond. The base beneficiary premium will be equal to 15 percent of the lesser of (i) the base beneficiary premium for 2029 increased by 6 percent; or (ii) the base beneficiary premium for 2030 that would have applied if this section had not been enacted. This percentage may not be less than 20 percent.

This section amends the Social Security Act to conform to the requirements of the Patient Protection and Affordable Care Act. Specifically, it amends sections 1860D2 and 1860D4 to increase the initial coverage limit and out-of-pocket threshold for 2025 and subsequent years, and amends section 1860D14 to eliminate the annual out-of-pocket threshold for 2024 and subsequent years. Finally, it amends section 1860D21 to repeal the annual out-of-pocket threshold for 2025 and subsequent years.

The Social Security Act is amended to provide discounts for prescription drugs dispensed under Medicare Part D for years 2011 through 2025. For 2025 and each subsequent year, any discount provided pursuant to section 1860D14C of the Social Security Act will apply.

The Social Security Act is amended to allow for a maximum monthly cap on cost-sharing payments under prescription drug plans and Medicare Advantage plans. This change will take effect in 2025 and will be implemented by program instruction or other forms of program guidance. Funding for this change will be provided out of any money in the Treasury not otherwise appropriated.

This section allows enrollees in a prescription drug plan or an MA plan to elect to pay their cost-sharing in monthly installments, capped at a maximum monthly amount. The maximum monthly amount is determined by the PDP sponsor or MA organization, and is based on the enrollee's annual out-of-pocket costs.

The graph indicates that enrollees in a prescription drug plan or an MAPD plan have the option to make an election prior to the beginning of the plan year or in any month during the plan year. PDP sponsors and MA organizations are responsible for informing enrollees of the option to make such an election and ensuring that enrollees are aware of the option when they incur out-of-pocket costs with respect to covered part D drugs. If an enrollee fails to pay the amount billed, the PDP sponsor or MA organization must have a financial reconciliation process in place to correct any inaccuracies in payments made by the enrollee during the plan year.

This section amends the Social Security Act to require prescription drug plans to offer a maximum monthly cap on cost-sharing payments for enrollees who elect to receive coverage under the plan. The maximum monthly cap may be applied to any combination of covered Part D drugs.

This section of the bill delays the implementation of a rule that would have eliminated the safe harbor protection for prescription drug rebates. It also appropriates $10 million for the Centers for Medicare and Medicaid Services to carry out the provisions of the bill. Finally, it requires Medicare Part D plans to cover adult vaccines recommended by the Advisory Committee on Immunization Practices.

This amendment to the Social Security Act establishes that, for plan years beginning on or after January 1, 2023, adult vaccines recommended by the Advisory Committee on Immunization Practices will be subject to no deductible and no coinsurance or other cost-sharing under Medicare Part B.

The Social Security Act is amended to provide coverage for adult vaccines recommended by the Advisory Committee on Immunization Practices, with no cost-sharing or deductible applying. A temporary retrospective subsidy is also established for plan years beginning on or after January 1, 2023.

This section provides for the payment of subsidies to prescription drug and Medicare Advantage plan sponsors in an amount equal to the aggregate reduction in cost-sharing and deductible by reason of the application of section 1860D2(b)(8) for individuals under the plan during the year. The subsidies shall be provided not later than 18 months following the end of the applicable plan year.

This section amends the Social Security Act to temporarily increase Medicare Part B payments for certain biosimilar biological products during a 5-year period.

The Affordable Care Act expands eligibility for low-income subsidies under Part D of the Medicare program, making it easier for people to afford their prescription drugs. The new law also requires drug makers to provide rebates to Medicare and Medicaid, and requires drug companies to pay a fee to help support the cost of the program.

The Social Security Act is amended to require Medicaid coverage of adult vaccines, with no cost sharing for vaccinations.

The Social Security Act is amended to provide increased federal funding for adult vaccines and their administration, as well as to prohibit cost-sharing for such vaccines.

This section of the Social Security Act requires state child health plans or waivers to provide coverage for vaccines and their administration for adults aged 19 and older. Additionally, it requires that such coverage be provided without cost-sharing. This section takes effect one year after the date of enactment.

The bill amends the Patient Protection and Affordable Care Act to treat cost-sharing for covered insulin products as meeting the deductible and out-of-pocket requirements for plan years 2023 and 2024. For plan years 2025 and subsequent plan years, cost-sharing for covered insulin products is only required prior to an individual reaching the out-of-pocket threshold.

This section covers a drug that is approved under the Federal Food, Drug, and Cosmetic Act or licensed under the Public Health Service Act, including any covered insulin product that has been deemed to be licensed under the Public Health Service Act. The copayment amount for such a drug is $35 per month during plan years 2023 through 2025, and the lesser of $35 or 25% of the maximum fair price or negotiated price for the covered insulin product during plan year 2026 and each subsequent plan year. For a months supply of a covered insulin product dispensed during the period beginning on January 1, 2023, and ending on March 31, 2023, a PDP sponsor offering a prescription drug plan or an MA organization offering an MAPD plan shall reimburse an enrollee within 30 days for any cost-sharing paid by such enrollee that exceeds the cost-sharing applied by the prescription drug plan or MAPD plan at the point-of-sale for such months supply.

The Social Security Act is amended to require that, for plan year 2023 and subsequent plan years, the copayment amount for a covered insulin product dispensed to a low-income individual may not exceed the applicable copayment amount for the product under the prescription drug plan or Medicare Advantage plan in which the individual is enrolled.

The copayment amount for the product 13 under the MAPD 14 plan in which the individual is enrolled will be $1,500,000 for fiscal year 2022. This section also limits the monthly coinsurance and adjusts the supplier payment under Medicare Part B for insulin furnished through durable medical equipment.

This section amends the Social Security Act to allow for a safe harbor for high deductible health plans that don't have a deductible for selected insulin products.

This section amends the Internal Revenue Code of 1986 to extend the period during which subsidies are available to taxpayers whose household income exceeds 400 percent of the poverty line. The amendments made by this section shall apply to taxable years beginning after December 31, 2022.

This bill extends and modifies the credit for electricity produced from certain renewable resources. The base credit amount is reduced from 1.5 cents to 0.3 cents per kilowatt hour. The extension applies to facilities that begin construction before January 1, 2025.

The credit amount for a qualified facility is increased if the facility meets certain requirements. Prevailing wage requirements must be met for any laborers and mechanics employed in the construction or alteration of the facility.

The Secretary of Labor is responsible for ensuring that laborers and mechanics working on construction projects funded by the government are paid at least the prevailing wage rate. If a taxpayer fails to pay the prevailing wage, they may be subject to a penalty of $5,000 per worker.

The Building and Renovation Tax Relief Act imposes a penalty on taxpayers who fail to meet the apprenticeship requirements for construction of qualified facilities. The penalty is equal to 3% of the construction costs of the qualified facility.

The bill amends the Internal Revenue Code to allow a tax credit for up to 15% of the cost of constructing certain qualified energy efficient buildings, with the credit amount depending on when construction begins. The bill also requires that any taxpayer who employs 4 or more individuals to perform construction work on a qualified facility must employ 1 or more qualified apprentices.

The 15 qualified facility tax credit is available to taxpayers who have requested qualified apprentices from a registered apprenticeship program, and have been denied, provided that such denial is not the result of a refusal by the taxpayer or any contractors or subcontractors engaged in the performance of construction, alteration, or repair work with respect to such qualified facility to comply with the established standards and requirements of the registered apprenticeship program. If the Secretary determines that any failure is due to intentional disregard of the requirements, the credit shall be applied by substituting $500 for $50.

The Secretary of Energy shall issue regulations or other guidance as necessary to carry out the purposes of the Domestic Content Bonus Credit, including recordkeeping and information reporting requirements. The Domestic Content Bonus Credit is a 10% increase to the tax credit for qualified facilities that use components produced in the United States.

This section of the bill deals with the tax credit for certain qualified facilities. The credit is equal to 30% of the costs of the facility, and is phased out for facilities that do not have a certain percentage of their components manufactured in the United States.

The Credit for Production of Advanced Energy Property in the United States increases the overall costs of construction of qualified facilities by more than 25 percent. Relevant steel, iron, or manufactured products must be produced in the United States in sufficient and reasonably available quantities or of a satisfactory quality. If the Secretary provides an exception, the applicable percentage shall be 100 percent. In the case of a qualified facility which is located in an energy community, the credit determined under subsection (a) shall be increased by an amount equal to 10 percent of the amount so determined.

The electric generating unit has been retired, or which is directly adjoining to any census tract described in subclause (I). The credit determined under subsection (a) with respect to any facility for any taxable year shall be reduced by the amount which is the product of the amount so determined for such year and the lesser of 15 percent or a fraction (A) the numerator of which is the sum, for the taxable year and all prior taxable years, of proceeds of an issue of any obligations the interest on which is exempt from tax under section 103 and which is used to provide financing for the qualified facility, and (B) the denominator of which is the aggregate amount of additions to the capital account for the qualified facility for the taxable year and all prior taxable years. If the 0.3 cent amount as increased under the preceding sentence is not a multiple of 0.05 cent, such amount shall be rounded to the nearest multiple of 0.05 cent. In any other case, if an amount as increased under this paragraph is not a multiple of 0.1 cent, such amount shall be rounded to the nearest multiple of 0.1 cent.

The energy credit is extended and modified by this section. The credit is extended to facilities placed in service after December 31, 2025. The credit is further extended for certain energy property.

This section amends section 48(a) of the Internal Revenue Code to phase out the credit for certain energy property and to reduce the credit for qualified fuel cell property, qualified small wind property, and energy property described in clause (i) or (ii) of paragraph (3)(A).

The Energy Storage Technology and Qualified Biogas Property sections of the Energy Policy Act of 2005 are amended by adding microgrid controllers to the list of eligible technologies. Energy storage technology is defined as property that receives, stores, and delivers energy for conversion to electricity, with a nameplate capacity of not less than 5 kilowatt hours. Thermal energy storage property is also included.

The term "qualified biogas property" means property comprising a system which converts biomass into a gas which consists of not less than 52 percent methane by volume, or is concentrated by such system into a gas which consists of not less than 52 percent methane, and captures such gas for sale or productive use.

The section amends the definition of "qualified facility" for purposes of the energy investment tax credit to include qualified biogas property and microgrid controllers. Qualified biogas property is defined as property part of a system which cleans or conditions biogas for use, and construction of which begins before 2025. A microgrid controller is defined as equipment part of a qualified microgrid, which is designed and used to monitor and control the energy resources and loads on such microgrid. Construction of a microgrid controller must begin before 2025.

This section amends section 50(d) of the tax code to allow taxpayers to elect to exempt energy storage technology from the requirements of the section. The election must be made on the taxpayer's federal tax return for the year in which the technology is placed in service, and can only be revoked with the consent of the IRS. The exemption does not apply to energy storage technology with a maximum capacity of 500 kilowatt hours or less.

The bill amends the Internal Revenue Code to allow for a tax credit for qualified energy property, including qualified interconnection property, which is used to provide for the transmission or distribution of electricity produced or stored by such property.

This section amends section 48(a) of the Internal Revenue Code to increase the credit amount for energy projects that meet certain wage requirements and apprenticeship requirements.

This section of the bill deals with the tax credit for energy projects. A project is eligible for the credit if it meets certain requirements, including being a project with a maximum net output of less than 1 megawatt of electrical or thermal energy, or a project that satisfies the requirements of paragraphs (10)(A) and (11). The requirements described in this subparagraph with respect to any energy project are that the taxpayer shall ensure that any laborers and mechanics employed by the taxpayer or any contractor or subcontractor in the construction of such energy project, and for the 5-year period beginning on the date such project is originally placed in service, the alteration or repair of such project, shall be paid wages at rates not less than the prevailing rates for construction, alteration, or repair of a similar character in the locality in which such project is located as most recently determined by the Secretary of Labor, in accordance with subchapter IV of chapter 31 of title 40, United States Code.

The energy project tax credit is increased by 2 percentage points for projects that use domestic content, as determined by rules similar to the rules for the regular energy project tax credit.

The Energy Policy Act of 2005 amended the Internal Revenue Code to provide a tax credit for certain energy storage facilities. The credit is equal to 10 percent of the cost of the facility, and is available for both new and existing storage facilities. The credit is phased out for taxpayers making an election under section 6417 with respect to a credit under this section.

This section amends the energy credit for solar and wind facilities placed in service in connection with low-income communities. The credit is increased by 2 percentage points for solar projects and 10 percentage points for wind projects. The amendments apply to property placed in service after December 31, 2021.

This section deals with solar and wind energy tax credits for low-income communities. The credit is increased for facilities located in low-income communities or on Indian land.

The Energy Policy Act of 2005 provides a tax credit for certain qualified low-income residential and economic benefit projects. To be eligible, the project must be part of a qualified low-income residential building project or a qualified low-income economic benefit project, and at least 50% of the financial benefits of the electricity produced by the facility must be provided to households with income below 200% of the poverty line or 80% of area median gross income.

The Secretary of Energy will establish a program to allocate environmental justice solar and wind capacity limitation to qualified solar and wind facilities. The amount of environmental justice solar and wind capacity limitation allocated by the Secretary under this program shall not exceed the annual capacity limitation with respect to such year. The annual capacity limitation for any calendar year shall not exceed 1.8 gigawatts of direct current capacity for each of calendar years 2023 and 2024, and zero thereafter. If the annual capacity limitation for any calendar year exceeds the aggregate amount allocated for such year under this program, such limitation for the succeeding calendar year shall be increased by the amount of such excess.

The amendments made by this section extend and modify the credit for carbon dioxide sequestration. The credit is now available for carbon capture requirements at qualified facilities, which are defined as any industrial gasification facility, any integrated gasification combined cycle facility, or any other industrial facility designated by the Secretary. The credit is also available for carbon capture at qualified facilities that are not part of a designated project.

This section provides a tax credit for certain carbon capture facilities. To qualify, the facility must begin construction before 2033 and must capture a certain amount of carbon oxide each year.

The Energy Independence and Security Act of 2007 amends the Internal Revenue Code of 1986 to include a new section 45Q, which provides a tax credit for the capture and sequestration of carbon dioxide emissions from certain electric generating units. The credit is available for units that are originally placed in service more than 1 year prior to the date on which construction of the carbon capture equipment begins, and on or after the date which is 3 years prior to the date on which construction of such equipment begins. The credit is also available for units that are originally placed in service more than 3 years prior to the date on which construction of the carbon capture equipment begins, but only for the 3 years with the highest annual carbon oxide production during the 12-year period preceding the date on which construction of such equipment begins.

This section amends the Internal Revenue Code to provide a tax credit for carbon capture and sequestration. The credit is equal to the applicable dollar amount for each metric ton of qualified carbon dioxide captured and disposed of in secure geological storage. The applicable dollar amount is $50 for facilities placed in service before January 1, 2024, and $35 for facilities placed in service after December 31, 2023. For facilities placed in service after December 31, 2022, the applicable dollar amount is $36.

The credit for qualified facilities and carbon capture equipment is increased from the original amount to five times the original amount if the taxpayer satisfies the requirements under paragraphs (3)(A) and (4).

The Tax Cuts and Jobs Act imposes a penalty on taxpayers who fail to ensure that laborers and mechanics employed in the construction of qualified carbon capture equipment are paid prevailing wages.

The Tax Cuts and Jobs Act amends the Internal Revenue Code to create a new section 45Q, which provides a tax credit for carbon capture and sequestration. The credit is equal to $50 per metric ton of qualified carbon dioxide captured and stored in a qualified facility, and is available for 12 years. There are several requirements that must be met in order to qualify for the credit, including wage, apprenticeship, and recordkeeping requirements. The credit is reduced for tax-exempt bonds, and the Secretary of the Treasury is authorized to issue regulations or other guidance as necessary to carry out the purposes of the section.

The amendments made by this section will apply to facilities or equipment placed in service after December 31, 2022, with the exception of the carbon capture requirements (which will apply to facilities or equipment the construction of which begins after the date of enactment of this Act), and the amendments made by subsection (f) (which will take effect on the date of enactment of this Act).

The Zero-Emission Nuclear Power Production Credit is a credit for taxpayers who produce electricity using nuclear energy. The credit is equal to the difference between the amount of electricity produced and the reduction amount, which is equal to 16 percent of the gross receipts from the electricity produced. The credit is only available for nuclear facilities that are placed in service before the date of enactment of this section.

The Nuclear Energy Production Tax Credit is a tax credit for taxpayers who produce electricity from nuclear power facilities. The credit is equal to 0.3 cents per kilowatt hour of electricity produced, and is capped at $125 million per year. The credit is available for facilities that come into operation after December 31, 2020.

The Inflation Adjustment Factor for the calendar year in which the sale occurs is determined under section 2 45(e)(2), as applied by substituting calendar year 3 2023 for calendar year 1992 in subparagraph (B) 4 thereof. If the 0.3 cent amount as increased under this paragraph is not a multiple of 0.05 cent, such amount 7 shall be rounded to the nearest multiple of 0.05 cent. 8 If the 2.5 cent amount as increased under this paragraph is not a multiple of 0.1 cent, such amount shall 10 be rounded to the nearest multiple of 0.1 cent. 11 The credit determined under subsection (a) shall be increased by 5 times for any qualified nuclear power facility which satisfies the requirements of paragraph (2)(A), which are that the taxpayer shall ensure that any laborers and mechanics employed by the taxpayer or any contractor or subcontractor in the alteration or repair of such facility shall be paid wages at rates not less than the prevailing rates for alteration or repair of a similar character in the locality in which such facility is located as most recently determined by the Secretary of Labor, in accordance with subchapter IV of chapter 31 of title 40, United States Code.

This section extends the incentives for biodiesel, renewable diesel and alternative fuels through 2024.

This section extends the tax credit for qualified second generation biofuel through 2025.

This section amends subpart D of part IV of subchapter A of chapter 1 by inserting a new section 40B, which establishes a sustainable aviation fuel credit for any qualified mixture sold or used in an aircraft. The credit is equal to the number of gallons of sustainable aviation fuel in the mixture, multiplied by the sum of $1.25 and the applicable supplementary amount. The applicable supplementary amount is determined by the percentage of lifecycle greenhouse gas emissions reduction with respect to the sustainable aviation fuel, and may not exceed $0.50.

This section establishes a tax credit for the production of sustainable aviation fuel. To be eligible for the credit, the fuel must meet certain standards for greenhouse gas emissions reduction, and the producer must be registered with the government.

This section provides a tax credit for sustainable aviation fuel. The credit is made part of the general business credit and is coordinated with the biodiesel incentives.

The Fuel Added to Credit 4 for Alcohol Fuel, Biodiesel, and Alternative Fuel 5 Mixtures Act amends the existing sustainable aviation fuel credit by adding a new subsection (k) which allows for a credit of $1.25 per gallon of sustainable aviation fuel used in a qualified mixture, with a supplementary amount for each type of fuel. This credit is available for sales or uses after December 31, 2024.

The Clean Hydrogen Production Credit is a tax credit for any taxable year equal to the product of the kilograms of qualified clean hydrogen produced by the taxpayer during such taxable year at a qualified clean hydrogen production facility during the 10-year period beginning on the date such facility was originally placed in service, multiplied by the applicable amount (as determined under subsection (b)) with respect to such hydrogen. The applicable amount shall be an amount equal to the applicable percentage of $0.60.

This section describes the applicable percentage for the production of qualified clean hydrogen, which is determined according to the lifecycle greenhouse gas emissions rate. The amount is adjusted for inflation each year.

This section of the Clean Air Act defines "lifecycle greenhouse gas emissions" and requires that they be measured using the GREET model. It also defines "qualified clean hydrogen" as hydrogen produced with a lifecycle greenhouse gas emissions rate of no more than 4 kilograms of CO2e per kilogram of hydrogen.

The "qualified clean hydrogen production facility" tax credit is available for facilities that produce qualified clean hydrogen, with a credit amount equal to the determined 15 lifecycle greenhouse gas emissions rate multiplied by 5. The construction of the facility must begin before January 1, 2033.

The requirements for any qualified clean hydrogen production facility are that the taxpayer shall ensure that any laborers and mechanics employed by the taxpayer or any contractor or subcontractor in the construction of such facility, and with respect to any taxable year, for any portion of such taxable year which is within the period described in subsection (a)(2), the alteration or repair of such facility, shall be paid wages at rates not less than the prevailing rates for construction, alteration, or repair of a similar character in the locality in which such facility is located as most recently determined by the Secretary of Labor, in accordance with subchapter IV of chapter 31 of title 40, United States Code. The Secretary shall issue such regulations or other guidance as the Secretary determines necessary to carry out the purposes of this subsection, including regulations or other guidance which provides for requirements for recordkeeping or information reporting for purposes of administering the requirements of this subsection.

The clean hydrogen production credit is a tax credit for businesses that produce qualified clean hydrogen. The credit is equal to the lesser of $5,000 or 30% of the cost of the equipment used to produce the hydrogen. The credit is reduced for tax-exempt bonds.

The amendments in this section apply to hydrogen produced after December 31, 2022, and to electricity produced after that date if it is used to produce clean hydrogen. The credit for electricity production from renewable resources is allowed if the electricity is used to produce clean hydrogen. Clean hydrogen production facilities may be treated as energy property.

The amendment to Section 48(a) of the tax code allows for a tax credit for certain clean hydrogen production facilities. The credit is equal to 1.2%, 1.5%, 2.0%, or 6.0% of the cost of the facility, depending on the type of facility. The amendment also denies the production tax credit for any taxable year with respect to any specified clean hydrogen production facility or any carbon capture equipment included at such facility.

The Credit for Hydrogen Production Act of 2020 amends the Internal Revenue Code to provide a credit for the production of hydrogen. The credit is available for property placed in service after December 31, 2022, and is recaptured if production falls below expectations. The credit is scheduled to terminate on December 31, 2023.

The Tax Cuts and Jobs Act extends, increases, and modifies the nonbusiness energy property credit. The credit is extended through 2032 and the annual limitation is increased to $1,200. The credit is also expanded to include qualified energy efficiency improvements and residential energy property expenditures.

The credit allowed under this section for any taxpayer for any taxable year shall not exceed $250 for any exterior door, and $500 in the aggregate for all exterior doors. The credit allowed under this section for any taxpayer for any taxable year shall not, in the aggregate, exceed $2,000 with respect to amounts paid or incurred for property described in clauses (i) and (ii) of subsection (d)(2)(A) and in subsection (d)(2)(B).

The Modification of Residential Energy Property Expenditures allows taxpayers to deduct the cost of qualified energy property, including labor costs, that is installed on their residence. Qualified energy property includes certain electric and natural gas heat pumps, central air conditioners, water heaters, furnaces, and boilers.

The 2021 Energy 15 Star efficiency criteria rates products by the manufacturer for use with fuel blends of eligible fuels. The 16 (II) rating is for use with fuel blends at least 20 per cent of which consists of an eligible fuel, or the 17 (ii) rating is for use with fuel blends at least 50 per cent of which consists of an eligible fuel. Products must be installed in a manner consistent with the National Electric Code and have a load capacity of not less than 200 amps to qualify for the credit.

The Energy Audit tax credit allows taxpayers to receive a credit of up to $150 for the cost of a home energy audit. The audit must identify the most significant and cost-effective energy efficiency improvements for the dwelling, and include an estimate of the energy and cost savings with respect to each improvement. The credit is subject to the requirements specified by the Secretary in regulations or other guidance.

The "product identification number requirement" stipulates that, in order to be eligible for the tax credit under section 25C of the Internal Revenue Code, an item of specified property must be produced by a qualified manufacturer and the taxpayer must include the qualified product identification number of such item on their tax return. A qualified product identification number is a unique number assigned to an item of specified property by the qualified manufacturer pursuant to a methodology approved by the Internal Revenue Service. A qualified manufacturer is a manufacturer of specified property who enters into an agreement with the IRS which provides that the manufacturer will assign a product identification number to each item of specified property produced, label such item with the number, and make periodic written reports to the IRS.

The Energy Improvement and Extension Act of 2008 extends and modifies the energy efficient home improvement credit. The credit is now available for an additional two years, through 2021, for qualifying energy efficient property placed in service. The credit is also expanded to include certain qualified energy property placed in service after December 31, 2021. Finally, the Act requires that taxpayers include a product identification number when claiming the credit.

The Residential Clean Energy Credit is extended through 2034 and expanded to include battery storage technology expenditures. Conforming amendments are made to section 25D(d)(3) of the Internal Revenue Code.

The Energy Efficient Commercial Buildings Deduction is being amended so that the maximum deduction is increased from $0.50 to $1.00 per square foot, and the deduction is only available for buildings certified to reduce energy and power costs by more than 25%.

This section of the bill deals with the deduction amount for certain property, specifically energy efficient commercial building property, energy efficient building retrofit property, or property installed pursuant to a qualified retrofit plan. The deduction amount is increased from $0.50 to $2.50, $.02 to $.10, and $1.00 to $5.00. In order for the property to qualify, the taxpayer must ensure that any laborers and mechanics employed by the taxpayer or any contractor or subcontractor in the installation of any property are paid wages at rates not less than the prevailing rates for construction, alteration, or repair of a similar character in the locality in which such property is located as most recently determined by the Secretary of Labor.

The Department of Energy is required to issue a final determination on energy efficiency standards for buildings and to extend the period for such standards to be met from two years to four years. Additionally, the allowance for a partial energy efficiency standard is eliminated.

The Energy Efficient Commercial Buildings Tax Deduction, created by the Energy Policy Act of 2005 and amended by the Energy Improvement and Extension Act of 2008, allows a tax deduction of up to $1.80 per square foot for energy efficient commercial building property installed on or in property owned by a specified tax-exempt entity. The deduction is available for both new construction and retrofit projects, and can be allocated to the person primarily responsible for designing the property in lieu of the owner.

The Energy Efficient Buildings Retrofit Tax Credit allows taxpayers to claim a credit for retrofitting their buildings to improve energy efficiency. The credit is equal to the lesser of the excess energy use intensity or the aggregate adjusted basis of the energy efficient building retrofit property placed in service. The property must be certified by a qualified professional as meeting the requirements of the qualified retrofit plan.

The Energy Efficiency Retrofit Tax Credit allows a tax credit for installing energy efficient systems in qualified buildings. The credit is available for buildings that are at least 5 years old and meet certain energy efficiency requirements.

This section amends section 179D of the tax code to allow a deduction for energy efficient commercial buildings. The deduction is available to licensed architects or engineers who meet other requirements as provided by the Secretary. The deduction is not available for energy efficient building retrofit property if a deduction is already allowed for that property under this section. The inflation adjustment for the deduction is increased for 2020 and 2021.

The Energy Efficient Homes Credit is extended through 2032 and the credit amount is increased for certain energy efficient dwelling units.

The 3 Energy Star Multifamily New Construction Pro- gram provides financial incentives for dwelling units that meet certain energy efficiency requirements. The requirements are different for units acquired before and after January 1, 2025.

The Energy Star Multifamily New Construction National Program Requirements and the Energy Star Multifamily New Construction Regional Program Requirements must be met in order for a dwelling unit to be acquired. The prevailing wage requirements must also be met in order for the credit amount to be allowed.

The Clean Vehicle Credit is a tax credit for vehicles that meet certain fuel efficiency standards. The credit is limited to $3,750 per vehicle.

This section amends the Clean Air Act to include a definition of "new clean vehicle" and to require manufacturers to provide a report to purchasers containing information on the vehicle's fuel economy.

The Tax Cuts and Jobs Act amends the Internal Revenue Code to provide a tax credit for new clean vehicles, including electric vehicles and fuel cell vehicles. The credit is available for vehicles purchased after December 31, 2017 and is capped at $7,500. The credit is phased out for each manufacturer after 200,000 qualifying vehicles are sold.

The requirements for mineral and battery components for electric vehicles are that a certain percentage of the value of the critical minerals contained in the battery must be extracted or processed in the United States or in a country with which the United States has a free trade agreement, or recycled in North America. The applicable percentage increases each year from 40 percent in 2024 to 80 percent in 2026.

This section amends the Clean Air Act to require that a certain percentage of the value of components in a new clean vehicle battery be manufactured or assembled in North America in order for the vehicle to qualify for certain emissions credits. The applicable percentage will increase over time, reaching 100 percent by 2028. The Secretary of Transportation will issue regulations or other guidance as necessary to carry out the requirements of this section.

The credit described in subsection (a) of Section 30D of the US Tax Code shall only be allowed once with respect to any vehicle, as determined based upon the vehicle identification number of such vehicle. No credit shall be allowed under this section with respect to any vehicle unless the taxpayer includes the vehicle identification number of such vehicle on the return of tax for the taxable year. The credit described in subsection (a) shall not be allowed for any taxable year if the modified adjusted gross income of the taxpayer for such taxable year exceeds the threshold amount.

This section of the bill establishes a tax credit for the purchase of a new clean vehicle. The credit is limited to $55,000 for vehicles other than vans, sport utility vehicles, and pickup trucks, which are limited to $80,000. The credit is transferable to an eligible entity specified by the taxpayer.

The "eligible entity" for the purposes of the tax credit under subsection (a) is the dealer who sold the vehicle to the taxpayer and who has registered with the Secretary, disclosed the manufacturer's suggested retail price and the value of the credit to the taxpayer, and made payment to the taxpayer in an amount equal to the credit. The election to claim the credit must be made by the taxpayer at the time of purchase.

The Secretary of Energy may revoke the registration of any dealer that does not comply with the requirements described in paragraph 8. With respect to any payment described in paragraph 2(C), such payment shall not be included in the gross income of the taxpayer, and shall not be deductible by the dealer. The requirements of paragraphs 1 and 2 of subsection (f) shall apply to the taxpayer who acquired the vehicle in the same manner as if the credit determined under this section were allowed to such taxpayer. The Secretary shall establish a program to make advance payments to any eligible entity in an amount equal to the cumulative amount of the credits allowed under subsection (a) with respect to any vehicles sold by such entity for which an election described in paragraph 1 has been made.

The "dealer" subsection of the new clean vehicle tax credit allows for a credit to be given to taxpayers who purchase new, eligible vehicles from licensed dealers. The credit is recaptured if the vehicle is no longer used as a clean vehicle. Indian tribal governments are defined for the purposes of this subsection.

The Clean Vehicle Credit is a tax credit for certain vehicles with clean burning engines. The credit is available for vehicles purchased after January 1, 2017 and before January 1, 2032. The credit is capped at $7,500 per vehicle.

This section establishes a clean vehicle credit for vehicles placed in service after December 31, 2022. The credit is increased by 6.0445 percent for direct spending on eligible vehicles.

The bill allows a tax credit for qualified buyers who purchase a previously-owned clean vehicle. The credit is equal to the lesser of $4,000 or 30% of the sale price of the vehicle, and is subject to a modified adjusted gross income limitation.

The qualified plug-in electric drive motor vehicle credit is a tax credit for up to $7,500 for the purchase of a new or used plug-in electric drive motor vehicle. The credit is available for vehicles acquired after December 31, 2009.

This section amends the Internal Revenue Code to allow a tax credit for previously-owned clean vehicles. The credit is equal to the lesser of $2,500 or 10 percent of the cost of the vehicle. The credit is available for vehicles acquired after December 31, 2022, and is not available for vehicles acquired after December 31, 2032.

The qualified commercial clean vehicle credit is a tax credit available for vehicles powered by something other than a gasoline or diesel internal combustion engine. The credit amount is equal to the lesser of 15 percent of the basis of the vehicle or the incremental cost of the vehicle, up to a maximum of $7,500 for vehicles with a gross vehicle weight rating of less than 14,000 pounds or $40,000 for other vehicles.

The "qualified commercial clean vehicle" tax credit is available for vehicles which meet certain energy efficiency requirements, are not manufactured for resale, and are used on public roads. The credit is similar to the credit available under section 30D of the tax code, but is not available for vehicles which are already eligible for that credit.

The qualified commercial clean vehicle credit is a tax credit available for vehicles acquired after December 31, 2022. To be eligible for the credit, taxpayers must include the vehicle identification number of the vehicle on their tax return. The credit is worth a maximum of $7,500 per vehicle and is set to expire after December 31, 2032.

This section amends the Alternative Fuel Tax Credit by extending the credit through 2032 and increasing the credit limit from $30,000 to $100,000. It also includes bidirectional charging equipment as qualified alternative fuel vehicle refueling property.

The "qualified alternative fuel vehicle refueling property" tax credit is amended to include electric charging stations for certain vehicles with 2 or 3 wheels, as well as to extend the credit to biodiesel fuel mixtures.

The amount of the tax credit for qualified alternative fuel vehicle refueling property is increased to five times the original amount, if the project meets certain requirements. These requirements include that the project must begin construction before a specified date, and that all laborers and mechanics employed on the project must be paid prevailing wages.

The rules in this section apply to property placed in service after December 31, 2022, with the exception of the amendments in subsection (a), which apply to property placed in service after December 31, 2021. The purpose of this section is to provide for investment in clean energy manufacturing and construction projects.

The Energy Security Act extends the Advanced Energy Project credit and establishes a program to award certifications for qualified investments eligible for the credit. The total amount of credits which may be allocated under the program shall not exceed $10,000,000,000, of which not greater than $6,000,000,000 may be allocated to qualified investments which are not located within a census tract that had no project which received a certification and allocation of credits under the program prior to the date of enactment of the Act.

The tax credit for re-equipping, expanding, or establishing a manufacturing facility is 6 percent, but it is increased to 8 percent if the project satisfies prevailing wage and apprenticeship requirements. If the project is placed in service at a location which is materially different than the location specified in the application for such project, the certification shall no longer be valid.

The amendment modifies section 48C of the tax code, relating to the disclosure of allocations for tax credits for certain investments in advanced energy projects. The amendment requires the Secretary of the Treasury to publicly disclose the identity of the applicant and the amount of the credit with respect to such applicant when making a certification under subsection (e).

This section amends the Internal Revenue Code to provide for a tax credit for certain heavy duty electric or fuel cell vehicles, hybrid vehicles, and associated charging or refueling infrastructure. It also amends the Code to provide for a tax credit for re-equipping an industrial or manufacturing facility with equipment designed to reduce greenhouse gas emissions.

This section establishes the advanced manufacturing production credit for taxable years beginning on or after January 1, 2023. The credit is equal to the sum of the credit amounts determined under subsection (b) with respect to each eligible component which is produced by the taxpayer and sold to an unrelated person. The production and sale of the components must be in a trade or business of the taxpayer. The credit amount is determined based on the cost of labor and materials incurred by the taxpayer in producing the component, as well as the taxpayer's investment in qualifying advanced manufacturing property.

The production tax credit for renewable energy is equal to the product of (A) 4 cents, multiplied by the capacity of the cell (on a per direct current watt basis), (B) $12 per square meter for a photovoltaic wafer, (C) $3 per kilogram for solar grade polysilicon, (D) 40 cents per square meter for a polymeric backsheet, (E) 7 cents multiplied by the capacity of the module (on a per direct current watt basis) for a solar module, (F) 10 percent of the sales price of an offshore wind vessel or the applicable amount determined under paragraph (2)(A) multiplied by the total rated capacity (on a per watt basis) of the completed wind turbine for which the component is designed for a wind energy component, (G) 87 cents per kilogram for a torque tube, (H) $2.28 per kilogram for a structural fastener, (I) the applicable amount determined under paragraph (2)(B) multiplied by the capacity of the inverter (on an alternating current watt basis) for an inverter, and (J) 10 percent of the costs incurred by the taxpayer with respect to production of electrode active materials.

The Energy Improvement and Extension Act of 2008 provides for a tax credit for certain renewable energy components, including wind energy components, inverters, and battery cells and modules. The credit is phased out after December 31, 2029.

This section establishes a tax credit for the production of certain renewable energy components and critical minerals. Eligible components include solar energy components, wind energy components, inverters, qualifying battery components, and applicable critical minerals. The credit is phased out over time, with the phase out percentage equal to 75 percent for components sold in 2030, 50 percent for components sold in 2031, and 25 percent for components sold in 2032. The credit is not available for any property produced at a facility if the basis of any property which is part of such facility is taken into account for any other credit.

The Credit for Renewable Energy Investments Act of 2009 allows a credit for solar energy investments. The credit is available for inverters, central inverters, commercial inverters, distributed wind inverters, and microinverters.

The Solar Energy Component Tax Credit is a tax credit for solar energy components used in residential or commercial solar energy systems. The credit is for up to 30% of the cost of the solar energy components, and is capped at $2000 for residential systems and $50,000 for commercial systems. The credit is available for solar modules, photovoltaic cells, photovoltaic wafers, solar grade polysilicon, torque tubes or structural fasteners, and polymeric backsheets.

The Polymeric Backsheet is a sheet on the back of a solar module which acts as an electric insulator and protects the inner components of such module from the surrounding environment. The Solar Grade Polysilicon is silicon which is purified to a minimum purity of 99.999999 percent silicon by mass and is suitable for use in photovoltaic manufacturing. The Solar Module is the connection and lamination of photovoltaic cells into an environmentally protected final assembly which is suitable to generate electricity when exposed to sunlight and ready for installation without an additional manufacturing process. The Solar Tracker is a mechanical system that moves solar modules according to the position of the sun and to increase energy output.

This section defines the term "wind energy component" and provides a list of associated components. It also defines the term "qualifying battery component" and provides a list of associated components.

This passage discusses the various solvents, additives, and electrolyte salts that contribute to the electrochemical processes necessary for energy storage, as well as the definitions of "battery cell" and "battery module." It also lists the six critical minerals that are necessary for the production of batteries, including aluminum, antimony, barite, beryllium, cerium, and cobalt.

The above listed materials must be purified to a minimum purity of 99 percent by mass in order to be used in the production of certain goods.

The bill would allow for the import of certain metals and alloys, including indium, lithium, manganese, neodymium, nickel, niobium, tellurium, tin, tungsten, vanadium, and yttrium, provided that they are purified to a minimum purity of 99 percent by mass.

The "Other Minerals" section of the bill establishes that certain minerals are eligible for the tax credit, provided that they are purified to a minimum purity of 99 percent. The minerals include arsenic, bismuth, erbium, gallium, hafnium, holmium, iridium, lanthanum, lutetium, magnesium, palladium, platinum, praseodymium, rhodium, rubidium, ruthenium, samarium, scandium, tantalum, terbium, thulium, titanium, ytterbium, zinc, and zirconium. The section also includes special rules for related persons and for sales of integrated components.

This section amends the Internal Revenue Code to extend and adjust the hazardous substance Superfund financing rate, and to authorize advances under the Superfund. It also incentivizes clean electricity production and clean transportation.

The clean electricity production credit is a tax credit for any taxable year equal to the product of the kilowatt hours of electricity produced by the taxpayer at a qualified facility and sold by the taxpayer to an unrelated person during the taxable year, multiplied by the applicable amount with respect to such qualified facility. The applicable amount is 0.3 cents per kilowatt hour for qualified facilities that are not described in clause (i) or (ii) of subparagraph (B) and do not satisfy the requirements described in clause (iii) of such subparagraph, and 1.5 cents per kilowatt hour for qualified facilities described in clause (i), (ii), or (iii) of subparagraph (B).

The qualified facility credit is a credit for facilities used to generate electricity that are placed in service after December 31, 2024, and have a greenhouse gas emissions rate that does not exceed zero. The credit is only available for the 10-year period beginning on the date the facility was originally placed in service.

The Clean Air Act Amendments of 2018 establish emissions rates for facilities producing electricity, to be used for purposes of the tax credit for carbon capture and sequestration. The emissions rates are to be published annually by the Secretary of Energy, and are to be adjusted for inflation beginning in 2025.

This section of the bill deals with the inflation adjustment and credit phase-out for the clean electricity production credit. The credit is adjusted for inflation each year, and begins to phase out for facilities whose construction begins during the second calendar year after the applicable year.

The "Greenhouse Gas Emission Reduction for New and Existing Power Plants" rule, issued by the U.S. Environmental Protection Agency (EPA) in 2015, requires power plants to reduce their greenhouse gas emissions by a certain percentage below a baseline emissions rate. The rule applies to new, modified, and existing power plants and sets different targets for each category. For new power plants, the target is a greenhouse gas emission rate that is no more than 1,000 pounds of CO2e per megawatt-hour (MWh) of electricity produced. For existing coal-fired power plants, the target is a reduction of at least 32 percent below the baseline emissions rate. The rule also requires power plants to meet an interim emissions reduction target of 30 percent below the baseline by 2030.

The section allows for qualified facilities to receive clean electricity production credits, provided that the electricity is produced within the United States. Additionally, any combined heat and power system property within the facility will also be taken into account for the purposes of determining the greenhouse gas emissions rate.

The credit for electricity production is apportioned among owners of the qualified facility in proportion to their ownership interests in the gross sales from the facility. If more than one person has an ownership interest in the facility, the production from the facility is allocated among such persons in proportion to their respective ownership interests.

This section deals with the treatment of cooperative organizations and their patrons for purposes of the tax credit for renewable energy facilities. Specifically, it provides that the amount of the credit apportioned to any patrons of an eligible cooperative shall not be included in the amount of the credit determined for the organization, and shall instead be included in the patron's own tax return. In addition, if the amount of the credit determined for a cooperative organization is less than the amount shown on the organization's return, the difference will be treated as an increase in tax imposed on the organization.

This section of the bill deals with the domestic content bonus credit for qualified facilities. The credit is increased by 10 percent if the taxpayer certifies that any steel, iron, or manufactured product used in the construction of the facility was produced in the United States.

This passage explains how to determine if a product has been manufactured in the United States. If the construction of the facility where the product was made begins before January 1, 2025, then 40 percent of the total costs of all manufactured products of that facility must be attributable to products mined, produced, or manufactured in the United States. If the construction of the facility where the product was made begins after December 31, 2024 and before January 1, 2026, then 45 percent of the total costs of all manufactured products of that facility must be attributable to products mined, produced, or manufactured in the United States. If the construction of the facility where the product was made begins after December 31, 2025 and before January 1, 2027, then 50 percent of the total costs of all manufactured products of that facility must be attributable to products mined, produced, or manufactured in the United States. If the construction of the facility where the product was made begins after December 31, 2026, then 55 percent of the total costs of all manufactured products of that facility must be attributable to products mined, produced, or manufactured in the United States.

The amount of the tax credit for qualified facilities that elect to use it will be replaced with the value of the credit multiplied by the applicable percentage. For qualified facilities that satisfy certain requirements, the applicable percentage will be 100 percent. For other qualified facilities, the applicable percentage will be phased down from 100 percent to 0 percent depending on when construction of the facility began. Exceptions may be made if the inclusion of domestically produced steel, iron, or manufactured products would increase the overall costs of construction by more than 25 percent or if relevant domestically produced products are not available in sufficient quantities or of a satisfactory quality.

The Clean Electricity Investment Credit is a tax credit for qualified investments in clean electricity facilities and energy storage technologies. The credit is equal to 6 percent of the investment for qualified facilities and energy storage technologies. The credit is available for facilities placed in service after December 31, 2024.

The Energy Independence and Security Act of 2007 establishes tax credits for investments in certain energy storage technologies and facilities. The credit is 6 percent for technologies with a capacity of less than 1 megawatt, and 30 percent for technologies that meet certain requirements. The credit is increased by the applicable credit rate increase for investments in qualified facilities or energy storage technologies within an energy community.

The qualified investment with respect to any qualified facility for any taxable year is the sum of the basis of any qualified property placed in service by the taxpayer during such taxable year which is part of a qualified facility, plus the amount of any expenditures which are paid or incurred by the taxpayer for qualified interconnection property in connection with a qualified facility which has a maximum net output of not greater than 5 megawatts (as measured in alternating current), and placed in service during the taxable year of the taxpayer.

The qualified investment with respect to any qualified facility shall not be less than the sum of: (1) the credit allowable under section 48 for such facility for the taxable year; and (2) the credit allowable under this section for such facility for the taxable year.

This section allows for a credit with respect to qualified investments in certain energy property. The credit is equal to the lesser of $50,000 or 30% of the basis of the property. The credit is phased out for property placed in service after December 31, 2016.

The clean electricity investment credit under subsection (a) for any qualified investment with respect to any qualified facility or energy storage technology the construction of which begins during a calendar year described in paragraph (2) shall be equal to the product of (A) the amount of the credit determined under subsection (a) without regard to this subsection, multiplied by (B) the phase-out percentage under paragraph (2).

The Investment Credit Property section of the bill allows for a credit to be given for any property that is part of a facility that is placed in service in connection with a low-income community. The credit is given as a percentage of the investment in the property, and the percentage is increased for facilities located in low-income communities or on Indian land.

The Energy Policy Act of 1992 provides tax credits for certain renewable energy facilities. To qualify for the credit, the facility must be part of a qualified low-income residential building project or a qualified low-income economic benefit project.

The "environmental justice capacity limitation" is a limit on the amount of direct current capacity that can be allocated by the Secretary of Energy to applicable facilities in any given year. The annual capacity limitation for calendar year 2025 is 1.8 gigawatts, and it is zero thereafter. If the annual capacity limitation for any calendar year exceeds the aggregate amount allocated for such year under this paragraph, such limitation for the succeeding calendar year shall be increased by the amount of such excess.

The Environmental Justice Capacity Limitation Credit is a credit that may be applied to the annual capacity limitation for calendar year 2025 for any property that is placed in service after the date that is four years after the date of the allocation with respect to the facility of which such property is a part. If any amount of environmental justice capacity limitation expires during any calendar year, it shall be taken into account as an excess for such calendar year, subject to the limitation imposed by the last sentence of such subparagraph. The Secretary shall, by regulations or other guidance, provide for recapturing the benefit of any increase in the credit allowed under subsection (a) by reason of this subsection with respect to any property which ceases to be property eligible for such increase (but which does not cease to be investment credit property within the meaning of section 50(a)).

The CHIPS Act of 2022 amends the Internal Revenue Code to provide guidance on the implementation of the clean electricity investment credit. The credit is available for qualified facilities, qualified property, and energy storage technology placed in service after December 31, 2024. The credit is equal to 30% of the basis of the qualified property.

This section amends the Internal Revenue Code to provide a tax credit for the production of clean transportation fuels. The credit is equal to the applicable amount per gallon (or gallon equivalent) of fuel produced, multiplied by the emissions factor for the fuel. The applicable amount is 20 cents per gallon for most fuels, but is $1.00 per gallon for fuels produced at qualified facilities that meet certain requirements. For sustainable aviation fuels, the credit is increased to 50 cents per gallon.

This section establishes the emissions factor for transportation fuels. The emissions factor is the amount of CO2e emitted per mmBTU of fuel. The emissions rate for each fuel is established by the Secretary and published in a table annually.

This section establishes the emissions rates for transportation fuels, expressed in terms of kilograms of CO2e per mmBTU. The rates are to be based on the most recent determinations under the Greenhouse gases, Regulated Emissions, and Energy use in Transportation model developed by Argonne National Laboratory, or a successor model. For aviation fuels, the rates are to be based on the most recent Carbon Offsetting and Reduction Scheme for International Aviation adopted by the International Civil Aviation Organization with the agreement of the United States, or a similar methodology. The rates may be rounded to the nearest multiple of 5 kilograms of CO2e per mmBTU, except in the case of an emissions rate that is between 2.5 and -2.5 kilograms of CO2e per mmBTU, which may be rounded to zero.

A taxpayer producing fuel for transportation may file a petition with the Secretary for determination of the emissions rate with respect to such fuel. The emissions rate will be adjusted for inflation starting in 2024.

This section deals with the clean fuel production credit, which is a credit that is available for producing transportation fuels with low emissions. The credit is available for monoglycerides, diglycerides, triglycerides, free fatty acids, and fatty acid esters.

The Taxpayer Relief Act of 1997 created a tax credit for the production of clean fuel. To be eligible for the credit, the taxpayer must be registered as a producer of clean fuel at the time of production and must provide certification from an unrelated party demonstrating compliance with requirements similar to those established under the Carbon Offsetting and Reduction Scheme for International Aviation. The fuel must also be produced in the United States.

The section amends the Internal Revenue Code to provide a tax credit for certain transportation fuels. The credit is available for fuel sold to certain persons by another member of such group. The credit is allowed for fuel sold after December 31, 2027.

This section allows an applicable entity making an election to treat a credit as a payment against the tax imposed by subtitle A. The term applicable credit means the credit for producing electricity from certain renewable resources, the credit for energy property, and the credit for refined coal production property.

The section lists 12 credits that are allowed to be carried over to future tax years, including the renewable electricity production credit, the credit for carbon oxide sequestration, the zero-emission nuclear power production credit, and the credit for production of clean hydrogen.

The S corporation makes an election under the 23 such subsection (in such manner as the Secretary 24 may provide) with respect to such credit 508. The Secretary shall make a payment to 2 such partnership or S corporation equal to the 3 amount of such credit, 4 (B) subsection (e) shall be applied with re5 spect to such credit before determining any part6 ners distributive share, or shareholders pro rata 7 share, of such credit, 8 (C) any amount with respect to which the 9 election in subsection (a) is made shall be treated 10 as tax exempt income for purposes of sections 11 705 and 1366, and 12 (D) a partners distributive share of such 13 tax exempt income shall be based on such part14 ners distributive share of the otherwise applica15 ble credit for each taxable year.

This section allows taxpayers other than those described in subparagraph (A) to make an election with respect to credits for the production of clean hydrogen, carbon capture, and advanced manufacturing. If the taxpayer makes the election, they will be treated as an applicable entity for purposes of this section for the taxable year, but only with respect to the credit for which they made the election.

The Energy Policy Act of 2005 created a tax credit for certain entities that make investments in eligible components for use in a trade or business. The credit is equal to 30% of the cost of the investment. The taxpayer may elect to apply the credit against the tax liability for the taxable year in which the investment is made, or for any of the four succeeding taxable years. The taxpayer may also revoke the election at any time.

The bill allows taxpayers to elect to claim the renewable electricity production credit or the carbon capture equipment credit in lieu of the business energy investment tax credit. The election is irrevocable and applies to the taxable year in which the qualified facility is placed in service.

This section explains the process for claiming the clean energy tax credit for carbon capture equipment and clean hydrogen production facilities. Taxpayers must make an election under section 6418(a) in order to claim the credit. The election may be made for the taxable year in which the equipment is placed in service, and will apply to the taxable year and the four subsequent taxable years.

The payment described in subsection (a) shall be treated as made on the later of the date that a return would be due under section 6033(a) if such government or subdivision were described in that section or the date on which such government or subdivision submits a claim for credit or refund.

The amount of the credit which an applicable entity may receive for a taxable year with respect to a facility or property shall be reduced by the amount of any excessive payment made by the entity with respect to the facility or property. An applicable entity may avoid this reduction if it can demonstrate to the satisfaction of the Secretary that the excessive payment resulted from reasonable cause.

The section amends the Internal Revenue Code to allow businesses to transfer certain tax credits to other businesses. The credit is reduced to zero for the purposes of the tax code, and the regulations for the credit are similar to those for the research and experimentation tax credit.

This section of the bill deals with the transfer of tax credits from one taxpayer to another. The bill allows for the transfer of tax credits related to certain facilities or property from an eligible taxpayer to a transferee taxpayer. The transferee taxpayer will be treated as the taxpayer for purposes of this title with respect to such credit. The bill also provides that any payments made by the transferee taxpayer to the eligible taxpayer as consideration for the transfer of the credit will be required to be paid in cash, will not be includible in gross income of the eligible taxpayer, and will not be deductible by the transferee taxpayer. Finally, the bill provides that in the case of any eligible credit determined with respect to any facility or property held directly by a partnership or S corporation, if such partnership or S corporation makes an election under this section with respect to such credit, any amount received as consideration for a transfer described in such subsection shall be treated as tax exempt income for purposes of sections 705 and 1366, and a partners distributive share of such tax exempt income shall be based on such partners distributive share of the otherwise eligible credit for each taxable year.

The "Account" section of this bill deals with the transfer of tax credits. Any credit that is eligible to be transferred must be done so in the first taxable year of the transferee taxpayer, and the election to transfer the credit must be made within 180 days of the bill's enactment. The "Eligible Credit" section defines what types of credits are able to be transferred. These include the Alternative Fuel Vehicle Refueling Property credit, the Renewable Electricity Production credit, the Carbon Oxide Sequestration credit, the Zero-Emission Nuclear Power Production credit, the Clean Hydrogen Production credit, the Advanced Manufacturing Production credit, and the Clean Electricity Production credit.

This section allows for the transfer of certain tax credits relating to clean energy production to eligible taxpayers. The eligible credits include the clean fuel production credit, the energy credit, the qualifying advanced energy project credit, and the clean electricity investment credit. In order to transfer the credit, the taxpayer must provide the Secretary with such information or registration as the Secretary deems necessary to prevent duplication, fraud, improper payments, or excessive payments. If a transferee taxpayer receives an excessive credit transfer, the transferee taxpayer shall be liable for a penalty equal to the greater of $10,000 or 10 percent of the excessive credit transfer.

The tax imposed on a transferee taxpayer for an excessive credit transfer shall be increased by the amount of the transfer plus 20 percent. This does not apply if the transferee taxpayer demonstrates to the satisfaction of the Secretary that the excessive credit transfer resulted from reasonable cause.

The HR 5376 EAS 1 bill amends the Internal Revenue Code to allow for a three-year carryback of certain business tax credits. The bill also prohibits the transfer of investment credit property after the recapture period has ended.

This section extends the tax rate for certain taxpayers to taxable years beginning after December 31, 2021.

The Fund 8 Black Lung Disability Trust Fund is being amended by striking subsection (e). This amendment will apply to sales in calendar quarters beginning after the date of enactment. Additionally, the research credit against payroll tax for small businesses is being increased by $250,000 for taxable years beginning after December 31, 2022.

The Tax Cuts and Jobs Act imposes a limit on the deduction for state and local taxes, which is set to expire in 2025. This section of the Act extends the deduction through 2026. Additionally, the Act reinstates the limitation on the deduction for state and local taxes for taxable years beginning after December 31, 2022. Finally, the Act extends the limitation on the excess business losses of noncorporate taxpayers through 2029.

This bill amends the Internal Revenue Code to extend the deduction for state and local taxes through 2027 and to allow adjusted financial statement income of corporations to be determined without regard to certain provisions of the code. Additionally, the bill appropriates funds to the Department of Agriculture for conservation programs.

This section of the bill authorizes $250 million for the conservation stewardship program for fiscal year 2023, $500 million for fiscal year 2024, $1 billion for fiscal year 2025, and $1.5 billion for fiscal year 2026. The funds may only be used for agricultural conservation practices, enhancements, or bundles that the Secretary determines directly improve soil carbon, reduce nitrogen losses, or reduce, capture, avoid, or sequester carbon dioxide, methane, or nitrous oxide emissions, associated with agricultural production.

This section authorizes funding for the Credit Corporation and the Commodity Credit Corporation to support conservation easements and regional conservation partnerships. Funds are authorized for fiscal years 2023-2026, and are to be used to support projects that improve soil carbon, reduce nitrogen losses, or reduce emissions of carbon dioxide, methane, or nitrous oxide.

This section amends the Food Security Act of 1985 to extend the Secretary's authority to make obligations initially under the Act through 2031. It also makes conforming amendments to various other sections of the Act.

The bill appropriates $1 billion for conservation technical assistance and $300 million for a program to quantify carbon sequestration and emissions of carbon dioxide, methane, and nitrous oxide. The funds are available until September 30, 2031, and are subject to the condition that no payments may be made after that date.

This section authorizes $1,000,000,000 for the cost of loans under the Rural Electrification Act of 1936, to be used for renewable energy projects. The loans will be forgiven in an amount not to exceed 50 percent of the loan, at the discretion of the Secretary. This section also authorizes $100,000,000 for the Department of Agriculture for administrative costs related to implementing this section.

This section appropriates funds for the Farm Security and Rural Investment Act of 2002 and sets a limit on the amount of grants that can be awarded under the act.

The Farm Security and Rural Investment Act of 2002 is amended by adding a section on biofuel infrastructure and agriculture product market expansion. $500 million is appropriated for the Secretary of Agriculture to use for grants to improve biofuel infrastructure and increase sales of biofuel blends containing high levels of commodity-based ethanol and biodiesel.

This section of the Farm Security and Rural Investment Act of 2002 provides for USDA assistance to rural electric cooperatives in the form of loans and other financial assistance to reduce carbon dioxide, methane, and nitrous oxide emissions associated with rural electric systems. There is a limit of 10 percent of the total amount available for each eligible entity.

The Farm Loan Immediate Relief for Borrowers with At-Risk Agricultural Operations Act provides $3.1 billion in funding to the Secretary of Agriculture to provide payments to, or for the cost of loans or loan modifications for, distressed borrowers of direct or guaranteed loans administered by the Farm Service Agency. This funding will be available until September 30, 2031.

This section provides relief to borrowers whose agricultural operations are at financial risk. It also provides funding for outreach, mediation, financial training, capacity building training, cooperative development and agricultural credit training and support to underserved farmers, ranchers, or forest landowners. Additionally, it provides funding for grants and loans to improve land access for underserved farmers, ranchers, and forest landowners.

This section appropriates $10,000,000 to fund the activities of one or more equity commissions that will address racial equity issues within the Department of Agriculture and the programs of the Department of Agriculture, and $250,000,000 to support and supplement agricultural research, education, and extension, as well as scholarships and programs that provide internships and pathways to agricultural sector or Federal employment, for 1890 Institutions (as defined in section 2 of the Agricultural, Research, Extension, and Education Reform Act of 1998 (7 U.S.C. 7601)), 1994 Institutions (as defined in section 532 of the Equity in Educational Land-Grant Status Act of 1994 (7 U.S.C. 301 note; Public Law 103382)), Alaska Native serving institutions and Native Hawaiian serving institutions eligible to receive grants under subsections (a) and (b), respectively, of section 1419B of the National Agricultural Research, Extension, and Teaching Policy Act of 1977 (7 U.S.C. 3156), Hispanic-serving institutions eligible to receive grants under section 1455 of the National Agricultural Research, Extension, and Teaching Policy Act of 1977 (7 U.S.C. 3241), and the insular area institutions of higher education located in the territories of the United States, as referred to in section 1489 of the National Agricultural Research, Extension, and Teaching Policy Act of 1977 (7

This section of the bill appropriates $2,200,000,000 for a program to provide financial assistance to farmers, ranchers, or forest landowners who experienced discrimination prior to January 1, 2021, in Department of Agriculture farm lending programs. The funds are to be used for administrative costs, including training employees, of the agencies and offices of the Department of Agriculture to carry out this section. This section also repeals Section 1005 of the American Rescue Plan Act of 2021.

This section of the bill appropriates $1.8 billion for hazardous fuels reduction projects on National Forest System land within the wildland-urban interface, $200 million for vegetation management projects on National Forest System land, $100 million for environmental reviews by the Forest Service, and $50 million for the protection of old-growth forests on National Forest System land.

The Special Areas; Roadless 7 Area Conservation service (66 Fed. Reg. 3244 (January 12, 2001)), as modified by subparts C and D of part 294 of title 36, Code of Federal Regulations, or any other project carried out on land that is not National Forest System land, including other forested land on Federal, State, Tribal, or private land, that is subject to a non-Federal cost-share requirement. The non-Federal cost-share requirement of a project may be waived at the discretion of the Secretary.

The bill authorizes appropriations for competitive grants to non-federal forest landowners for climate mitigation or forest resilience practices, and for grants to support the participation of underserved Forest landowners in emerging private markets for climate mitigation or forest carbon offset projects.

The bill provides $3.5 billion in funding for programs to support forestry and land management, including resilience to climate change and increased carbon sequestration. The funding is to be used for grants to states, forest landowners, and other eligible entities.

This section authorizes appropriations for fiscal year 2022 for the Forest Legacy Program and the Urban and Community Forestry Assistance program. It also waives the non-Federal cost-share requirement for projects under these programs.

This section authorizes appropriations for the Department of Housing and Urban Development (HUD) to improve energy efficiency, water efficiency, and climate resilience in affordable housing. It also allows HUD to waive certain requirements at the discretion of the Secretary.

This section provides for the appropriation of $4 billion to subsidize loans for energy efficiency, water efficiency, and climate resilience projects for eligible properties. Eligible recipients include owners or sponsors of eligible properties assisted by the Housing Act of 1959.

The National Oceanic and Atmospheric Administration is appropriated $2.6 billion for fiscal year 2022 to provide funding to coastal states, the District of Columbia, Tribal Governments, nonprofit organizations, local governments, and institutions of higher education to invest in coastal communities and climate resilience.

The Higher Education Act of 1965 authorizes funds for the construction of new facilities, facilities in need of replacement, piers, marine operations facilities, and fisheries laboratories for the conservation, restoration, and protection of coastal and marine habitats and resources.

This section provides funding for the National Oceanic and Atmospheric Administration (NOAA) to conduct more efficient, accurate, and timely reviews for planning, permitting, and approval processes, as well as to improve agency transparency, accountability, and public engagement. Additionally, this section provides funding for NOAA to accelerate advances and improvements in research, observation systems, modeling, forecasting, assessments, and dissemination of information to the public as it pertains to ocean and atmospheric processes related to weather, coasts, oceans, and climate.

This section contains appropriations for climate research and weather forecasting, including $50 million for competitive grants to fund climate research relating to weather, ocean, coastal, and atmospheric processes and conditions, and impacts to marine species and coastal habitat. Additionally, $190 million is appropriated for the procurement of high-performance computing assets and $100 million for the acquisition of hurricane forecasting aircraft. Finally, a competitive grant program is established for projects located in the United States that produce, transport, blend, or store sustainable aviation fuels or that develop low-emission aviation technology.

The bill appropriates $244.53 million for projects relating to the production, transportation, blending, or storage of sustainable aviation fuel, $46.53 million for projects relating to low-emission aviation technologies, and $5.94 million for the award of grants and oversight of the program by the Department of Transportation.

The Federal Aviation Administration Reauthorization Act of 2018 includes provisions for grant funding to promote the development of sustainable aviation fuels and low-emission aviation technologies. The grant funds will cover 75 percent of the total proposed cost of the project, with the possibility of increasing to 90 percent for small hub airports or nonhub airports. The Act also requires the Secretary of Transportation to adopt at least one methodology for testing lifecycle greenhouse gas emissions.

The bill defines "low-emission aviation technologies" as technologies that significantly improve aircraft fuel efficiency, increase the utilization of sustainable aviation fuel, or reduce greenhouse gas emissions produced during the operation of civil aircraft. It also defines "sustainable aviation fuel" as a liquid fuel produced in the United States that meets certain standards, is derived from biomass, waste streams, renewable energy sources, or gaseous carbon oxides, and achieves at least a 50 percent lifecycle greenhouse gas emissions reduction in comparison to petroleum-based jet fuel.

This section of the bill appropriates $4.3 billion to the Department of Energy for fiscal year 2022 to provide rebates to homeowners for energy efficiency and electrification improvements.

The HOMES Rebate Program will award grants to State energy offices to develop and implement programs that provide rebates for home energy efficiency retrofits. Funds for the program will be allocated based on the State Energy Program formula in effect on January 1, 2022, and will be redistributed to State energy offices every two years. Up to 3 percent of the total funds may be used for administrative expenses and technical assistance.

The HOMES Rebate Program provides rebates to homeowners and aggregators for whole-house energy saving retrofits. The amount of the rebate is based on the modeled energy system savings achieved by the retrofit. Rebates are available for retrofits begun on or after the date of enactment of this Act and completed by September 30, 2031.

This section outlines the payments that may be made for energy efficiency upgrades carried out by individuals, building owners, and aggregators. For single family homes, the payment is either $2,000 per kilowatt hour saved or 50% of the project cost, whichever is less. For multifamily buildings, the payment is either $2,000 per dwelling unit or 50% of the project cost, whichever is less. For low- or moderate-income households, the payment is either $2,000 per kilowatt hour saved or 50% of the project cost, whichever is less.

This section describes the Homeowner Rebate Program, which provides rebates to homeowners who achieve energy savings of 20-35%. Low- and moderate-income households may receive increased rebates. Up to 20% of the grant amount may be used for planning, administration, or technical assistance related to the program.

The Department of Energy will provide $4,275,000,000 in grants to State energy offices to develop and implement high-efficiency electric home rebate programs. The programs must be in accordance with guidelines set forth in the text, and the funds will remain available through September 30, 2022.

The Department of Energy will award grants to Indian Tribes to develop and implement a high-efficiency electric home rebate program. Funds will be distributed to participating State energy offices and Indian Tribes if their applications are approved. A portion of the funds will be used for administrative expenses and technical assistance.

The Department of Energy will award grants to states and Indian tribes to establish a high-efficiency electric home rebate program. Under the program, eligible entities will be able to receive rebates for qualified electrification projects, such as the purchase of a heat pump water heater or an electric stove.

This section provides for rebates for the purchase of high-efficiency electric home appliances and upgrades to non-appliance electrification projects. The maximum rebate is $14,000.

This section outlines the requirements for an eligible entity to receive a rebate for installing a qualified electrification project. The rebate may not exceed $500 and must be used to discount the amount charged by the eligible entity to the household on behalf of which the qualified electrification project is carried out. Activities carried out by a State energy office using a grant provided under the program are not subject to the expenditure prohibitions and limitations described in section 420.18 of title 10, Code of Federal Regulations.

The energy office or Indian Tribe under a high-efficiency electric home rebate program may not be combined with any other Federal grant or rebate for the same qualified electrification project. A State energy office or Indian Tribe that receives a grant under the program shall use not more than 20 percent of the grant amount for planning, administration, or technical assistance relating to a high-efficiency electric home rebate program.

The Department of Energy will provide $200 million in grants over the next ten years to states for training programs for contractors in home energy efficiency. The goal is to improve the quality of work performed and to increase the number of qualified workers in the field.

This section provides funding for training contractors involved in the installation of home energy efficiency and electrification improvements, as part of an approved State energy conservation plan. Funds may be used to reduce the cost of training contractor employees, to provide testing and certification of contractors trained and educated under a State program, and to partner with nonprofit organizations to develop and implement a State program.

The Energy Policy and Conservation Act provides funding for grants to assist States and units of local government in adopting and implementing building energy codes. The codes must meet or exceed the 2021 International Energy Conservation Code for residential buildings, the ANSI/ASHRAE/IES Standard 90.12019 for commercial buildings, or achieve equivalent or greater energy savings. The codes must also meet the zero energy provisions in the 2021 International Energy Conservation Code for both residential and commercial buildings. The plan for full compliance with the code must include active training and enforcement programs, as well as measurement of the rate of compliance each year.

The Department of Energy may provide loan guarantees for eligible projects under the Energy Policy Act of 2005, up to a total of $40 billion. Of this amount, $3.6 billion is appropriated for fiscal year 2022 for the costs of guarantees. Up to 3 percent of the amount appropriated may be used for administrative expenses.

This section of the Energy Policy Act of 2005 authorizes the use of loan guarantees for certain energy projects, subject to the provisions of the act. Specifically, the loan guarantees may be used for projects benefitting from Federal tax benefits, projects located on Federal land, or electric generation projects using transmission facilities owned or operated by a Federal Power Marketing Administration or the Tennessee Valley Authority.

The Energy Policy Act of 2005 is amended by adding a section on advanced technology vehicle manufacturing. This section appropriates $3,000,000,000 to the Secretary for fiscal year 2022 to provide loans for reequipping, expanding, or establishing a manufacturing facility in the United States to produce advanced technology vehicles that emit low or zero exhaust emissions of greenhouse gases.

This section appropriates $2 billion for grants to encourage domestic production of efficient hybrid and electric vehicles, and $5 billion for energy infrastructure projects. It also allows the Secretary to guarantee loans for energy infrastructure projects up to $250 billion.

The Energy Infrastructure Reinvestment Financing Act enables the Secretary of Energy to provide guarantees for loans to projects that retool, repower, or replace energy infrastructure that has ceased operations, or that enable operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or emissions of greenhouse gases. The term of an obligation shall require full repayment over a period not to exceed 30 years.

The electric 8 energy production, processing, and delivery of 10 fossil fuels, fuels derived from petroleum, or petro11 chemical feedstocks.. 12 (d) CONFORMING AMENDMENT.Section 1702(o)(3) of 13 the Energy Policy Act of 2005 (42 U.S.C. 16512(o)(3)) is 14 amended by inserting and projects described in section 15 1706(a) before the period at the end. 16 SEC. 50145. TRIBAL ENERGY LOAN GUARANTEE PROGRAM. 17 (a) APPROPRIATION.In addition to amounts other18 wise available, there is appropriated to the Secretary for 19 fiscal year 2022, out of any money in the Treasury not 20 otherwise appropriated, $75,000,000, to remain available 21 through September 30, 2028, to carry out section 2602(c) 22 of the Energy Policy Act of 1992 (25 U.S.C. 3502(c)), sub23 ject to the limitations that apply to loan guarantees under 24 section 50141(d). 617 HR 5376 EAS 1 (b) DEPARTMENT OF ENERGY TRIBAL ENERGY LOAN 2 GUARANTEE PROGRAM.Section 2602(c) of the Energy 3 Policy Act of 1992 (25 U.S.C. 3502(c)) is amended 4 (1) in paragraph (1), by striking ) for an 5 amount equal to not more than 90 percent of and 6 inserting , except that a loan guarantee may guar7 antee any debt obligation of a non-Federal borrower 8 to any Eligible Lender (as defined in section 609.2 of 9 title 10, Code of Federal Regulations)) for; and 10 (2) in paragraph (4), by striking 11 $2,000,000,000 and inserting $20,000,000,000. 12 PART 5ELECTRIC TRANSMISSION 13 SEC. 50151. TRANSMISSION FACILITY FINANCING. 14 (a) APPROPRIATION.In addition to amounts other15 wise available, there is appropriated to the Secretary for 16 fiscal year 2022, out of any money in the Treasury not 17 otherwise appropriated, $2,000,000,000, to remain avail18 able through September 30, 2030, to carry out this section: 19 Provided, That the Secretary shall not enter into any loan 20 agreement pursuant to this section that could result in dis21 bursements after September 30, 2031. 22 (b) USE OF FUNDS.The

This section authorizes the Secretary to provide grants to non-federal entities for the construction or modification of electric transmission facilities designated by the Secretary to be necessary in the national interest. The grants may not exceed 80 percent of the project costs, and must be repaid with interest.

The Department of Energy may award grants to state and local governments for activities related to the siting of covered transmission projects. These activities include studies of project impacts, examination of alternate siting corridors, and participation in regulatory proceedings. Grants may also be awarded for economic development activities in communities affected by the construction and operation of a covered transmission project.

The Secretary of Energy is authorized to provide grants to siting authorities for activities related to the siting or permitting of covered transmission projects. The Federal share of the cost of these activities shall not exceed 50 percent. Grant funds may only be disbursed for economic development activities related to a covered transmission project upon approval by the siting authority or commencement of construction of the project in the area under the jurisdiction of the entity. If a siting authority that receives a grant for an activity related to a covered transmission project fails to use all grant funds within two years, the siting authority shall return the unused funds to the Secretary.

The section appropriates $100,000,000 to the Secretary for fiscal year 2022 to be used for expenses associated with convening relevant stakeholders to address the development of interregional electricity transmission and transmission of electricity generated by offshore wind. The funds will also be used for planning, modeling, and analysis regarding interregional electricity transmission and transmission of electricity generated by offshore wind, taking into account the local, regional, and national economic, reliability, resilience, security, public policy, and environmental benefits of interregional electricity transmission and transmission of electricity generated by offshore wind.

The Department of Energy will provide financial assistance to eligible entities to purchase and install advanced industrial technology, retrofit existing facilities to install advanced industrial technology, or make operational improvements to install or implement advanced industrial technology.

This section of the bill provides financial assistance to eligible entities to prepare for activities related to reducing greenhouse gas emissions. To be eligible, entities must submit an application to the Secretary containing information on the expected emissions reductions from the project. Priority consideration will be given to projects with the greatest expected emissions reductions, those that would provide the greatest benefit to the greatest number of people, and those with eligible entities that participate in partnerships with purchasers of the output of the eligible facility. The Secretary shall require an eligible entity to provide not less than 50 percent of the cost of a project carried out pursuant to this section. Not more than $300,000,000 of amounts made available under subsection (a) shall be reserved for administrative costs of carrying out this section.

The Department of Energy is allocating funds for infrastructure projects related to high energy physics, fusion energy science, and nuclear physics.

This section authorizes $163 million for advanced scientific computing research facilities, $294 million for basic energy sciences projects, and $157 million for isotope research and development facilities. Additionally, $150 million is appropriated for infrastructure and general plant projects carried out by the Office of Fossil Energy and Carbon Management, the Office of Nuclear Energy, and the Office of Energy Efficiency and Renewable Energy, respectively. Finally, $100 million is appropriated to carry out program elements related to the production of high-assay low-enriched uranium.

The Energy Act of 2020 appropriates $500 million to the Department of Energy for programs to support the availability of high-assay low-enriched uranium for civilian domestic research, development, demonstration, and commercial use, and $100 million for activities to support the availability of high-assay low-enriched uranium for civilian domestic research, development, demonstration, and commercial use.

This section provides funding for conservation, ecosystem, and habitat restoration projects on lands administered by the National Park Service and Bureau of Land Management. The funds are to be used for hiring employees to serve in units of the National Park System, and for deferred maintenance projects within the boundaries of the National Park System.

This section authorizes appropriations for the design, study, and implementation of projects to cover water conveyance facilities with solar panels to generate renewable energy, or for other solar projects associated with Bureau of Reclamation projects that increase water efficiency and assist in the implementation of clean energy goals. Additionally, this section authorizes $4,000,000,000 for drought mitigation in Reclamation States (as defined in the section).

The Office of Insular Affairs will receive $15,000,000 for fiscal year 2022 to provide technical assistance for climate change planning, mitigation, adaptation, and resilience to United States Insular Areas. This money will come from the Treasury and will be available until September 30, 2026.

The Outer Continental Shelf Lands Act is amended to allow the Secretary to grant leases, easements, and rights-of-way for offshore wind development in areas withdrawn by the President. This section also applies the Act to the territories of the United States.

The Outer Continental Shelf Lands Act is amended to allow for wind lease sales in areas adjacent to Puerto Rico, Guam, American Samoa, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands. The sales are subject to the condition that the area is determined to be feasible and there is sufficient interest from qualified bidders.

This section of the bill amends the Outer Continental Shelf Lands Act to increase the royalty rate for offshore oil and gas development from 12.5% to 16.3-18.3%. It also amends the Mineral Leasing Act to increase the royalty rate for onshore oil and gas development from 12.5% to 16.3%.

The Mineral Leasing Act is amended to increase the rental rates for fossil fuel leases, and to increase the minimum bid for oil and gas leases.

The Mineral Leasing Act is amended to increase the rental fee for oil and gas leases, and to establish a new fee for expressions of interest in leasing land for oil and gas exploration and development. The Act is also amended to eliminate noncompetitive leasing.

The Mineral Leasing Act is being amended so that leases issued under the Act will be for a primary term of 10 years, with the possibility of extensions if oil or gas is produced in paying quantities. Additionally, any lease for land on which drilling operations were commenced prior to the end of the primary term will be extended for 2 years.

This section amends the Mineral Leasing Act to require that royalties be assessed on all gas produced from Federal land and on the outer Continental Shelf, including gas that is consumed or lost by venting, flaring, or negligent releases through any equipment during upstream operations. There are exceptions for gas vented or flared for not longer than 48 hours in an emergency situation that poses a danger to human health, safety, or the environment; gas used or consumed within the area of the lease, unit, or communitized area for the benefit of the lease, unit, or communitized area; or gas that is unavoidably lost. This section also sets forth requirements for Lease Sale 257 in the Gulf of Mexico.

The Outer Continental Shelf (OCS) Oil and Gas Lease Sales 257, 258, and 259 are scheduled to occur on September 7, 2021, and October 4, 2021, respectively. These lease sales are part of the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program and will be conducted in accordance with the program's final environmental impact statement.

The Secretary of the Interior shall conduct two lease sales in the Gulf of Mexico, one no later than December 31, 2022 and the other no later than March 31, 2023, in accordance with the Record of Decision approved by the Secretary on January 17, 2017.

The Continental Shelf Oil and Gas Leasing Program Final Programmatic Environmental Impact Statement was issued on January 17, 2017. The statement outlines the requirements for Lease Sale 261, which must be conducted by September 30, 2023. This section of the Act also requires the Secretary to issue a Record of Decision for the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program Final Programmatic Environmental Impact Statement.

This section appropriates $23.5 million to the United States Geological Survey for fiscal year 2022 to produce, collect, disseminate, and use 3D elevation data. Additionally, this section establishes that the Department of the Interior may not issue a lease for offshore wind development unless an offshore lease sale has been held during the 1-year period ending on the date of the issuance of the lease for offshore wind development, and the sum total of acres offered for lease in offshore lease sales during that period is not less than 60,000,000 acres.

The Department of Energy and the Federal Energy Regulatory Commission are each appropriated $100,000,000 for fiscal year 2022 to facilitate timely and efficient environmental reviews and authorizations.

The Reconciliation Act of 1986 shall not apply to the costs incurred by the Federal Energy Regulatory Commission in carrying out this section. This section appropriates $600,000,000 to the Administrator for fiscal year 2022, to be used for clean heavy-duty vehicle programs.

The article discusses a program that provides grants and rebates to encourage the replacement of older, polluting vehicles with newer, cleaner vehicles. The program is administered by the Environmental Protection Agency, and funds are appropriated by Congress.

This section authorizes the appropriation of $2.25 billion for grants to reduce air pollution at ports by purchasing or installing zero-emission port equipment or charging stations for electric vehicles. Eligible recipients include states, municipalities, Indian tribes, and nonprofit school transportation associations.

The Ports Clean Air Revitalization Act authorizes the Environmental Protection Agency to award rebates and grants to eligible recipients for the purchase and installation of zero-emission port equipment and technology. Funds awarded under this section may not be used to purchase or install equipment or technology that will not be located at, or directly serve, the port(s) involved.

The Greenhouse Gas Reduction Fund will appropriate $7,000,000,000 annually to the Administrator for funding zero-emission technologies.

This section authorizes the appropriation of funds to the Administrator of the Environmental Protection Agency (EPA) to provide grants, loans, or other forms of financial assistance to states, municipalities, Tribal governments, and eligible recipients for the purposes of deploying or benefiting from zero emission technologies, including distributed technologies on residential rooftops, and to carry out other greenhouse gas emission reduction activities. Funds appropriated under this section shall be used to provide financial assistance and technical assistance in low-income and disadvantaged communities.

This section authorizes the Administrator to award grants totaling $30 million to eligible recipients for the purpose of funding activities related to the deployment of low- and zero-emission products, technologies, and services. Eligible recipients include nonprofit organizations that are designed to provide capital and financial assistance for the rapid deployment of low- and zero-emission products, technologies, and services.

This section of the bill appropriates $60,000,000 to the Administrator of the Environmental Protection Agency for fiscal year 2022 in order to reduce diesel emissions from goods movement facilities and vehicles servicing goods movement facilities in low-income and disadvantaged communities.

This section of the bill appropriates $117,500,000 for fenceline air monitoring and screening air monitoring, $50,000,000 for multipollutant monitoring stations, and $3,000,000 for air quality sensors in low-income and disadvantaged communities.

This bill appropriates $5 million to the EPA for fiscal year 2022 to integrate and operate air quality sensors in low-income and disadvantaged communities. The sensors will monitor emissions of methane and other pollutants.

This section provides funding to address air pollution at schools in low-income and disadvantaged communities. It appropriated $37,500,000 for grants and other activities to monitor and reduce greenhouse gas emissions and other air pollutants at schools, and $12,500,000 for technical assistance to schools in low-income and disadvantaged communities.

This section of the Clean Air Act authorizes appropriations for a Low Emissions Electricity Program to reduce greenhouse gas emissions from domestic electricity generation and use. The Program will fund consumer and industry outreach and education, technical assistance and partnerships with state, tribal and local governments, and assessment of anticipated reductions in emissions.

This section authorizes appropriations for the Environmental Protection Agency to carry out activities related to the development and establishment of tests and protocols regarding the environmental and public health effects of a fuel or fuel additive, to regularly update applicable regulations, guidance, and procedures for determining lifecycle greenhouse gas emissions of a fuel, and to review, analyze, and evaluate the impacts of all transportation fuels, including fuel lifecycle implications, on the general public and on low-income and disadvantaged communities.

This section of the bill appropriates $20,000,000 to the Environmental Protection Agency for fiscal year 2022, to be used for implementing the American Innovation and Manufacturing Act. Additionally, $3,500,000 is appropriated for implementing and compliance tools, and $15,000,000 is appropriated for competitive grants for reclaim and innovative destruction technologies.

This section outlines funding for the Environmental Protection Agency's (EPA) compliance monitoring, communications, and inspection systems. A total of $25 million is appropriated for these activities in fiscal year 2022, to be drawn from the Treasury. The funds will remain available until 2031.

This section of the Clean Air Act authorizes the appropriation of $5 million for the Environmental Protection Agency to support enhanced standardization and transparency of corporate climate action commitments and plans to reduce greenhouse gas emissions, as well as enhanced transparency regarding progress toward meeting those commitments and implementing those plans. Additionally, this section authorizes the appropriation of $250,000,000 for the Environmental Protection Agency to develop and carry out a program to support the development, enhanced standardization and transparency, and reporting criteria for environmental product declarations that include measurements of the embodied greenhouse gas emissions of the material or product associated with all relevant stages of production, use, and disposal.

The Environmental Protection Agency is appropriated $850,000,000 for fiscal year 2022 to remain available until September 30, 2028 for grants, rebates, contracts, loans, and other activities related to reducing methane emissions from petroleum and natural gas systems.

The bill would appropriate $700 million for the Environmental Protection Agency to provide financial and technical assistance to owners and operators of facilities that emit greenhouse gases, with a focus on methane emissions. The money would be used to help reduce emissions, improve climate resilience, and support innovation in reducing methane emissions.

This section imposes a charge on methane emissions that exceed an applicable waste emissions threshold from an owner or operator of an applicable facility that reports more than 25,000 metric tons of carbon dioxide equivalent of greenhouse gases emitted per year. The charge amount for an applicable facility shall be equal to the product of the number of metric tons of methane emissions reported for the facility that exceed the applicable annual waste emissions threshold multiplied by $900 for emissions reported for calendar year 2024, $1,200 for emissions reported for calendar year 2025, or $1,500 for emissions reported for calendar year 2026 and thereafter.

The Administrator shall impose and collect the charge on the reported metric tons of methane emissions from such facility that exceed the thresholds specified in subsection (c). With respect to imposing and collecting the charge under subsection (c) for an applicable facility in an industry segment listed in paragraph (1) or (2) of subsection (d), the Administrator shall impose and collect the charge on the reported metric tons of methane emissions from such facility that exceed 0.20 percent of the natural gas sent to sale from such facility; or 10 metric tons of methane per million barrels of oil sent to sale from such facility, if such facility sent no natural gas to sale.

The proposed rule would exempt emissions that exceed the waste emissions threshold if they are caused by unreasonable delay in environmental permitting of gathering or transmission infrastructure necessary for offtake of increased volume as a result of methane emissions mitigation implementation. Additionally, the proposed rule would exempt an applicable facility from the charge if the facility is subject to and in compliance with methane emissions requirements and if compliance with those requirements will result in equivalent or greater emissions reductions. Finally, the proposed rule would exempt emissions from any well that has been plugged in accordance with applicable regulations.

The Clean Air Act is amended by adding a new section, 137, which establishes greenhouse gas air pollution planning grants and implementation grants. $250 million is appropriated for fiscal year 2022 to carry out the program.

The Gas Air Pollution Implementation Grants program appropriates $4.75 billion to the EPA for grants to states to develop and implement plans to reduce greenhouse gas air pollution. The program includes provisions for technical assistance, modeling, and administrative costs.

The EPA will receive $40 million to improve its permitting and approval processes, with the goal of reducing greenhouse gas emissions by 24% in total and by 25% in low-income and disadvantaged communities.

This section of the Clean Air Act appropriates $100,000,000 to the Environmental Protection Agency for fiscal year 2022 to develop and carry out a program to identify and label construction materials and products that have lower levels of embodied greenhouse gas emissions.

This section provides funding for grants to be awarded to eligible entities for activities related to reducing greenhouse gas emissions and other air pollutants, mitigating climate and health risks, climate resiliency and adaptation, and reducing indoor toxics and indoor air pollution.

This section provides funding for the United States Fish and Wildlife Service to address weather events by rebuilding and restoring units of the National Wildlife Refuge System and State wildlife management areas.

This section of the bill appropriates $32.5 million to the Chair of the Council on Environmental Quality for data collection efforts relating to environmental harms and climate impacts, and $30 million to the Chair of the Council on Environmental Quality for efficient and effective environmental reviews.

The Neighborhood Access and Equity Grant Program provides funding to improve walkability, safety, and affordable transportation access through projects that are context-sensitive and remove, remediate, or reuse facilities described in subsection (c)(1). The program also provides funding to mitigate or remediate negative impacts on the human or natural environment resulting from a facility described in subsection (c)(2) in a disadvantaged or underserved community.

This section authorizes grants for planning and capacity building activities in disadvantaged or underserved communities to identify, monitor, or assess local and ambient air quality, emissions of transportation greenhouse gases, hot spot areas of extreme heat or elevated air pollution, gaps in tree canopy coverage, or flood prone transportation infrastructure. Eligible entities include State and local governments, metropolitan planning organizations, and nonprofit or educational organizations.

This section provides for grants to be awarded to economically disadvantaged or underserved communities for projects that address air pollution, noise, stormwater, or other burdens. The Federal share of the cost of these projects shall not exceed 80 percent.

This section appropriates $250,000,000 for fiscal year 2022 to be deposited in the Federal Buildings Fund to convert facilities of the Administrator of General Services to high-performance green buildings.

This section provides for the appropriation of $2.15 billion to the Federal Buildings Fund for the purchase and installation of low-carbon materials for use in buildings under the jurisdiction of the General Services Administration. It also appropriates $975 million to the General Services Administration for emerging and sustainable technologies. Additionally, it establishes the Environmental Review Implementation Fund to help cover the costs of environmental reviews required by the National Environmental Policy Act.

The bill appropriates $100,000,000 to the Administrator of the Federal Highway Administration for fiscal year 2022 to facilitate the development and review of documents for the environmental review process for proposed projects. The funds may be used for activities such as providing guidance and technical assistance, preparing planning and environmental studies, conducting public engagement activities, and carrying out permitting or other activities to support the timely completion of an environmental review process. The Federal share of the cost of activities carried out under the bill by an eligible entity shall be not more than 80 percent.

This section authorizes the use of funds from any other Federal, State, or local grant program to satisfy the cost of an activity carried out under this section. An eligible entity is defined as a State, unit of local government, political subdivision of a State, territory of the United States, metropolitan planning organization, or recipient of funds under section 203. A proposed project is defined as a surface transportation project for which an environmental review process is required. This section also appropriates $2,000,000,000 for fiscal year 2022 to the Administrator of the Federal Highway Administration to reimburse or provide incentives to eligible recipients for the use of construction materials and products that have lower levels of embodied carbon.

The federal government will reimburse or provide incentives to eligible recipients who use low-embodied carbon construction materials and products on federally-funded projects. The reimbursement or incentive amount will be equal to the incrementally higher cost of using such materials relative to the cost of using traditional materials, as determined by the eligible recipient and verified by the Administrator.

This section of the bill establishes the position of Chief Readiness Support Officer within the Department of Homeland Security, and outlines the Officer's responsibilities. These include coordinating and supporting the Department's preparedness, response, and recovery efforts; overseeing the development and implementation of Department-wide policies and programs related to readiness; and serving as the primary advisor to the Secretary on all matters pertaining to readiness.

This section appropriates $500 million to the Department of Homeland Security for sustainability and environmental programs, $1.29 billion to the United States Postal Service for the purchase of zero-emission delivery vehicles, and $1.71 billion for the purchase, design, and installation of infrastructure to support zero-emission delivery vehicles. Additionally, it appropriates $15 million to the Office of Inspector General of the United States Postal Service and $25 million to the Comptroller General of the United States for oversight.

The Government Accountability Office is given $21 million to support the oversight of the distribution and use of funds appropriated under this Act, and to track labor, equity, and environmental standards and performance. Additionally, $25 million is appropriated to the Director of the Office of Management and Budget to oversee the implementation of this Act and track labor, equity, and environmental standards and performance. Finally, $350 million is appropriated to the Federal Permitting Improvement Steering Council Environmental Review Improvement Fund to support climate resilience and adaptation efforts.

This section appropriated $220 million for Indian Tribe climate resilience and adaptation programs, $10 million for fish hatchery operations and maintenance programs of the Bureau of Indian Affairs, and $5 million for the administrative costs of carrying out this section. These funds are to be available until September 30, 2031 and are not subject to cost-sharing or matching requirements.

The Indian Self-Determination and Education Assistance Act provides for the appropriation of funds to carry out climate resilience and adaptation activities for the Native Hawaiian community. The Tribal Electrification Program provides for the appropriation of funds to electrify unelectrified Tribal homes and to transition electrified Tribal homes to zero-emissions energy systems.

This section authorizes the appropriation of $4,500,000 to the Director of the Bureau of Indian Affairs for fiscal year 2022, to be used for the administrative costs of carrying out zero-emissions energy projects on Indian reservations. The funds are to be distributed on a one-time basis and may only be used for the specified purpose.

This amendment appropriates $12,500,000 for near-term drought relief actions to mitigate drought impacts for Indian Tribes that are impacted by the operation of a Bureau of Reclamation water project. The funds are to be used for drinking water shortages and to mitigate the loss of Tribal trust resources. There are no cost-sharing or matching requirements for these funds.