119-s2681

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2681 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 2681

 To amend the Internal Revenue Code of 1986 to extend the availability 
 of certain clean energy credits.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 August 2, 2025

 Mr. Schumer (for himself, Mr. Wyden, Mr. Warner, Ms. Cantwell, Mr. 
 Bennet, Mr. Schatz, Mr. Durbin, Ms. Duckworth, Mr. Reed, Mr. 
Hickenlooper, Mr. Gallego, Mr. Blumenthal, Mr. Van Hollen, Mr. Kim, Ms. 
 Warren, Mrs. Gillibrand, Ms. Klobuchar, Mrs. Shaheen, Ms. Rosen, Mr. 
 Padilla, Mr. Booker, Mr. Kelly, Ms. Smith, Mr. King, Ms. Hirono, Mrs. 
 Murray, Mr. Markey, Ms. Slotkin, Mr. Coons, Mr. Whitehouse, Ms. 
 Alsobrooks, Ms. Blunt Rochester, Mr. Merkley, and Mr. Ossoff) 
introduced the following bill; which was read twice and referred to the 
 Committee on Finance

_______________________________________________________________________

 A BILL

 To amend the Internal Revenue Code of 1986 to extend the availability 
 of certain clean energy credits.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Lowering Electric Bills Act''.

SEC. 2. EXTENSION OF CERTAIN CLEAN ENERGY CREDITS.

    (a) Residential Clean Energy Credit.--

    (1) In general.--

Section 25D

    (h) of the Internal Revenue 
 Code of 1986, as amended by 

section 70506

    (a) of Public Law 119-
 21, is amended by striking ``December 31, 2025'' and inserting 
 ``December 31, 2034''.

    (2) Effective date.--The amendment made by this section 
 shall take effect as if included in the enactment of 

section 70506 of Public Law 119-21.

    (b) Clean Electricity Production Credit.--

    (1) In general.--

Section 45Y of the Internal Revenue Code 
 of 1986, as amended by 

section 70512 of Public Law 119-21, is 
 amended--
        (A) in subsection
            (d) --
            (i) in paragraph

    (1) , by striking ``Subject 
 to paragraph

    (4) , the amount of'' and inserting 
 ``The amount of'', and
            (ii) by striking paragraphs

    (3) and

    (4) and 
 inserting the following new paragraph:
 ``

    (3) Applicable year.--For purposes of this subsection, 
 the term `applicable year' means the later of--
 ``
        (A) the calendar year in which the Secretary 
 determines that the annual greenhouse gas emissions 
 from the production of electricity in the United States 
 are equal to or less than 25 percent of the annual 
 greenhouse gas emissions from the production of 
 electricity in the United States for calendar year 
 2022, or
 ``
        (B) 2032.'', and
        (B) by striking subsection

    (h) .

    (2) Effective date.--The amendments made by this section 
 shall take effect as if included in the enactment of 

section 70512 of Public Law 119-21.
            (c) Clean Electricity Investment Credit.--

    (1) In general.--

Section 48E of the Internal Revenue Code 
 of 1986, as amended by 

section 70513 of Public Law 119-21, is 
 amended--
        (A) in subsection

    (e) --
            (i) in paragraph

    (1) , by striking ``Subject 
 to paragraph

    (4) , the amount of'' and inserting 
 ``The amount of'', and
            (ii) by striking paragraph

    (4) ,
        (B) by striking subsection
            (i) , and
            (C) by redesignating subsection

    (j) as subsection
            (i) .

    (2) Effective date.--The amendments made by this section 
 shall take effect as if included in the enactment of 

section 70513 of Public Law 119-21.
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