119-s448

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 448 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 448

 To amend the Internal Revenue Code of 1986 to expand the advanced 
 manufacturing production credit to include distribution transformers.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 February 6 (legislative day, February 5), 2025

 Mr. Moran (for himself and Ms. Cortez Masto) 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 expand the advanced 
 manufacturing production credit to include distribution transformers.

 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 ``Credit Incentives for Resilient 
Critical Utility Infrastructure and Transformers Act'' or the ``CIRCUIT 
Act''.

SEC. 2. EXPANSION OF ADVANCED MANUFACTURING PRODUCTION CREDIT TO 
 INCLUDE DISTRIBUTION TRANSFORMERS.

    (a) In General.--

Section 45X of the Internal Revenue Code of 1986 
is amended--

    (1) in subsection

    (b)

    (1) --
        (A) in subparagraph
            (L) 
            (ii) , by striking ``and'' at 
 the end,
        (B) in subparagraph
            (M) , by striking the period at 
 the end and inserting ``, and'', and
            (C) by adding at the end the following new 
 subparagraph:
 ``
        (N) in the case of any distribution transformer, 
 an amount equal to 10 percent of the costs incurred by 
 the taxpayer with respect to production of such 
 transformer.'', and

    (2) in subsection
            (c) --
        (A) in paragraph

    (1)
        (A) --
            (i) in clause
            (iv) , by striking ``and'' at 
 the end,
            (ii) in clause
            (v) , by striking the period 
 at the end and inserting ``, and'', and
            (iii) by adding at the end the following 
 new clause:
 ``
            (vi) any distribution transformer.'', and
        (B) by adding at the end the following new 
 paragraph:
 ``

    (7) Distribution transformer.--The term `distribution 
 transformer' has the same meaning given such term under 

section 321

    (35) of the Energy Policy and Conservation Act (42 U.S.C. 
 6291

    (35) ).''.

    (b) Effective Date.--The amendments made by this section shall 
apply to components produced and sold after the date which is 90 days 
after the date of enactment of this Act.
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