H.R. 2811 - Limit, Save, Grow Act of 2023

118TH CONGRESS
1ST SESSION

H.R. 2811

To provide for a responsible increase to the debt ceiling, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

APRIL 25, 2023

Mr. ARRINGTON (for himself, Mr. COMER, Ms. GRANGER, Mr. GRAVES of Missouri,
Ms. FOXX, Mr. McHENRY, Mrs. RODGERS of Washington, Mr. SMITH of Missouri,
Mr. THOMPSON of Pennsylvania, Mr. WESTERMAN, and Mr. WILLIAMS of Texas)
introduced the following bill; which was referred to the Committee on Ways
and Means, and in addition to the Committees on the Budget, Appropriations,
Oversight and Accountability, Education and the Workforce, Agriculture, Energy
and Commerce, the Judiciary, Rules, Transportation and Infrastructure,
and Natural Resources, for a period to be subsequently determined
by the Speaker, in each case for consideration of such provisions
as fall within the jurisdiction of the committee concerned

A BILL

To provide for a responsible increase to the debt ceiling, and for other purposes.

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 "Limit, Save, Grow Act of 2023".

* * *

DIVISION B — SAVE TAXPAYER DOLLARS

* * *

TITLE III — REPEAL MARKET DISTORTING GREEN TAX CREDITS

SEC. 221. AMENDMENT OF 1986 CODE.

Except as otherwise expressly provided, whenever in this title an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.

SEC. 222. MODIFICATION OF CREDIT FOR ELECTRICITY PRODUCED FROM CERTAIN RENEWABLE RESOURCES.

(a) IN GENERAL. — The following provisions of section 45(d) are each amended by striking "January 1, 2025" each place it appears and inserting "January 1, 2022":

(1) Paragraph (2)(A).

(2) Paragraph (3)(A).

(3) Paragraph (6).

(4) Paragraph (7).

(5) Paragraph (9).

(6) Paragraph (11)(B).

(b) BASE CREDIT AMOUNT. — Section 45 is amended

(1) in subsection (a)(1), by striking "0.3 cents" and inserting "1.5 cents", and

(2) in subsection (b)(2), by striking "0.3 cent" each place it appears and inserting "1.5 cent".

(c) APPLICATION TO GEOTHERMAL AND SOLAR. — Section 45(d)(4) is amended by striking "and the construction of which begins before January 1, 2025" and all that follows and inserting "and which —

“(A) in the case of a facility using solar energy, is placed in service before January 1, 2006, or

“(B) in the case of a facility using geothermal energy, the construction of which begins before January 1, 2022.

Such term shall not include any property described in section 48(a)(3) the basis of which is taken into account by the taxpayer for purposes of determining the energy credit under section 48.".

(d) ELECTION TO TREAT QUALIFIED FACILITIES AS ENERGY PROPERTY. — Section 48(a)(5)(C)(ii) is amended by striking "January 1, 2025" and inserting "January 1, 2022".

(e) WIND FACILITIES. —

(1) IN GENERAL. — Section 45(d)(1) is amended by striking "January 1, 2025" and inserting "January 1, 2022".

(2) APPLICATION OF PHASEOUT PERCENTAGE. —

(A) RENEWABLE ELECTRICITY PRODUCTION CREDIT. — Section 45(b)(5) is amended by striking "which is placed in service before January 1, 2022".

(B) ENERGY CREDIT. — Section 48(a)(5)(E) is amended by striking "placed in service before January 1, 2022, and".

(3) QUALIFIED OFFSHORE WIND FACILITIES UNDER ENERGY CREDIT. — Section 48(a)(5)(F)(i) is amended by striking "offshore wind facility, subparagraph (E) shall not apply." and inserting "offshore wind facility —

“(I) subparagraph (C)(ii) shall be applied by substituting 'January 1, 2026' for 'January 1, 2022',

“(II) subparagraph (E) shall not apply, and

“(III) for purposes of this paragraph, section 45(d)(1) shall be applied by substituting 'January 1, 2026' for 'January 1, 2022'.".

(f) WAGE AND APPRENTICESHIP REQUIREMENTS. — Section 45(b) is amended by striking paragraphs (6), (7), and (8).

(g) DOMESTIC CONTENT, PHASEOUT, AND ENERGY COMMUNITIES. — Section 45(b) is amended by striking paragraphs (9), (10), (11), and (12).

(h) CREDIT REDUCED FOR GRANTS, TAX-EXEMPT BONDS, SUBSIDIZED ENERGY FINANCING, AND OTHER CREDITS. — Section 45(b)(3) is amended to read as follows:

“(3) CREDIT REDUCED FOR GRANTS, TAX-EXEMPT BONDS, SUBSIDIZED ENERGY FINANCING, AND OTHER CREDITS. — The amount of the credit determined under subsection (a) with respect to any project for any taxable year (determined after the application of paragraphs (1) and (2)) shall be reduced by the amount which is the product of the amount so determined for such year and the lesser of 1⁄2 or a fraction —

“(A) the numerator of which is the sum, for the taxable year and all prior taxable years, of —

“(i) grants provided by the United States, a State, or a political subdivision of a State for use in connection with the project,

“(ii) proceeds of an issue of State or local government obligations used to provide financing for the project the interest on which is exempt from tax under section 103,

“(iii) the aggregate amount of subsidized energy financing provided (directly or indirectly) under a Federal, State, or local program provided in connection with the project, and

“(iv) the amount of any other credit allowable with respect to any property which is part of the project, and

“(B) the denominator of which is the aggregate amount of additions to the capital account for the project for the taxable year and all prior taxable years.

The amounts under the preceding sentence for any taxable year shall be determined as of the close of the taxable year. This paragraph shall not apply with respect to any facility described in subsection (d)(2)(A)(ii).".

(i) ROUNDING ADJUSTMENT. —

(1) IN GENERAL. — Section 45(b)(2) is amended to read as follows:

“(2) CREDIT AND PHASEOUT ADJUSTMENT BASED ON INFLATION. — The 1.5 cent amount in subsection (a), the 8 cent amount in paragraph (1), the $4.375 amount in subsection (e)(8)(A), the $2 amount in subsection (e)(8)(D)(ii)(I), and in subsection (e)(8)(B)(i) the reference price of fuel used as a feedstock (within the meaning of subsection (c)(7)(A)) in 2002 shall each be adjusted by multiplying such amount by the inflation adjustment factor for the calendar year in which the sale occurs. If any amount as increased under the preceding sentence is not a multiple of 0.1 cent, such amount shall be rounded to the nearest multiple of 0.1 cent.".

(2) CONFORMING AMENDMENT. — Section 45(b)(4)(A) is amended by striking "last two sentences" and inserting "last sentence".

(j) HYDROPOWER. —

(1) CREDIT RATE REDUCTION FOR QUALIFIED HYDROELECTRIC PRODUCTION AND MARINE AND HYDROKINETIC RENEWABLE ENERGY. — Section 45(b)(4)(A) is amended by striking "or (7)" and inserting "(7), (9), or (11)".

(2) MARINE AND HYDROKINETIC RENEWABLE ENERGY. — Section 45 is amended —

(A) in subsection (c)(10)(A) —

(i) in clause (iii), by adding "or" at the end,

(ii) in clause (iv), by striking ", or" and inserting a period, and

(iii) by striking clause (v), and

(B) in subsection (d)(11)(A), by striking "25" and inserting "150".

(k) EFFECTIVE DATES. —

(1) IN GENERAL. — Except as provided in paragraphs (2) and (3), the amendments made by this section shall apply to facilities placed in service after December 31, 2021.

(2) CREDIT REDUCED FOR GRANTS, TAX-EXEMPT BONDS, SUBSIDIZED ENERGY FINANCING, AND OTHER CREDITS. — The amendment made by subsection (h) shall apply to facilities the construction of which begins after August 16, 2022.

(3) DOMESTIC CONTENT, PHASEOUT, ENERGY COMMUNITIES. — The amendments made by subsections (g) and (j) shall apply to facilities placed in service after December 31, 2022.

SEC. 223. MODIFICATION OF ENERGY CREDIT.

(a) IN GENERAL. — The following provisions of section 48 are each amended by striking "January 1, 2025' " each place it appears and inserting "January 1, 2024":

(1) Subsection (a)(2)(A)(i)(II).

(2) Subsection (a)(3)(A)(ii).

(3) Subsection (c)(1)(E).

(4) Subsection (c)(2)(D).

(5) Subsection (c)(3)(A)(iv).

(6) Subsection (c)(4)(C).

(7) Subsection (c)(5)(D).

(b) CERTAIN ENERGY PROPERTY. — Section 48(a)(3)(A)(vii) is amended by striking "January 1, 2035" and inserting "January 1, 2024".

(c) PHASEOUT OF CREDIT. — Section 48(a) is amended by striking paragraphs (6) and (7) and inserting the following new paragraphs:

“(6) PHASEOUT FOR SOLAR ENERGY PROPERTY. —

“(A) IN GENERAL. — Subject to subparagraph (B), in the case of any energy property described in paragraph (3)(A)(i) the construction of which begins before January 1, 2024, the energy percentage determined under paragraph (2) shall be equal to —

“(i) in the case of any property the construction of which begins after December 31, 2019, and before January 1, 2023, 26 percent, and

“(ii) in the case of any property the construction of which begins after December 31, 2022, and before January 1, 2024, 22 percent.

“(B) PLACED IN SERVICE DEADLINE. — In the case of any energy property described in paragraph (3)(A)(i) the construction of which begins before January 1, 2024, and which is not placed in service before January 1, 2026, the energy percentage determined under paragraph (2) shall be equal to 10 percent.

“(7) PHASEOUT FOR CERTAIN OTHER ENERGY PROPERTY. —

“(A) IN GENERAL. — Subject to subparagraph (B), in the case of any qualified fuel cell property, qualified small wind property, waste energy recovery property, or energy property described in paragraph (3)(A)(ii), the energy percentage determined under paragraph (2) shall be equal to —

“(i) in the case of any property the construction of which begins after December 31, 2019, and before January 1, 2023, 26 percent, and

“(ii) in the case of any property the construction of which begins after December 31, 2022, and before January 1, 2024, 22 percent.

“(B) PLACED IN SERVICE DEADLINE. — In the case of any energy property described in subparagraph (A) which is not placed in service before January 1, 2026, the energy percentage determined under paragraph (2) shall be equal to 0 percent.".

(d) BASE ENERGY PERCENTAGE AMOUNT. — Section 48(a) is amended —

(1) in paragraph (2)(A) —

(A) in clause (i), by striking "6 percent" and inserting "30 percent", and

(B) in clause (ii), by striking "2 percent" and inserting "10 percent", and

(2) in paragraph (5)(A)(ii), by striking "6 percent" and inserting "30 percent".

(e) CREDIT FOR GEOTHERMAL. — Section 48(a)(2)(A)(i)(II) is amended by striking "clause (i) or (iii) of paragraph (3)(A)" and inserting "paragraph (3)(A)(i)".

(f) ENERGY STORAGE TECHNOLOGIES, QUALIFIED BIO GAS PROPERTY; MICROGRID CONTROLLERS REMOVED. —

(1) IN GENERAL. — Section 48(a)(3)(A) is amended by inserting "or" at the end of clause (vii) and by striking clauses (ix), (x), and (xi).

(2) CONFORMING CHANGES. —

(A) Section 48(a)(2)(A)(i) is amended by inserting "and" at the end of subclauses (IV) and (V) and by striking subclauses (VI), (VII), (VIII), and (IX).

(B) Section 48(c) is amended by striking paragraphs (6), (7), and (8).

(C) Section 45(e) is amended by striking paragraph (12).

(D) Section 50(d)(2) is amended by striking "At the election of a taxpayer" and all that follows through "equal to or less than 500 kilowatt hours."

(g) FUEL CELLS USING ELECTROMECHANICAL PROCESSES. —

(1) IN GENERAL. — Section 48(c)(1) is amended —

(A) in subparagraph (A)(i) —

(i) by striking "or electromechanical", and

(ii) by striking "(1 kilowatt in the case of a fuel cell power plant with a linear generator assembly)", and

(B) in subparagraph (C) —

(i) by striking ", or linear generator assembly", and

(ii) by striking "or electromechanical".

(2) LINEAR GENERATOR ASSEMBLY LIMITATION. — Section 48(c)(1) is amended by striking subparagraph (D) and by redesignating subparagraph

(E) as subparagraph (D).

(h) DYNAMIC GLASS. — Section 48(a)(3)(A)(ii) is amended by striking "or electrochromic glass which uses electricity to change its light transmittance properties in order to heat or cool a structure,".

(i) COORDINATION RULE REMOVED. — Paragraph (3) of section 50(c) is amended —

(1) by inserting "and" at the end of subparagraph (A),

(2) by striking ", and" at the end of subparagraph (B) and inserting a period, and

(3) by striking subparagraph (C).

(j) INTERCONNECTION PROPERTY. — Section 48(a) is amended by striking paragraph (8).

(k) ENERGY PROJECTS, WAGE REQUIREMENTS, AND APPRENTICESHIP REQUIREMENTS. — Section 48(a) is amended by striking paragraphs (9), (10), and (11).

(l) DOMESTIC CONTENT, PHASEOUT FOR ELECTIVE PAYMENT. — Section 48(a) is amended by striking paragraphs (12) and (13).

(m) RULE FOR PROPERTY FINANCED BY TAX-EXEMPT BONDS REMOVED; TEXT OF SPECIAL RULE FOR PROPERTY FINANCED BY SUBSIDIZED ENERGY FINANCING OR INDUSTRIAL DEVELOPMENT BONDS RESTORED. — Section 48(a)(4) is amended to read as follows:

“(4) SPECIAL RULE FOR PROPERTY FINANCED BY SUBSIDIZED ENERGY FINANCING OR INDUSTRIAL DEVELOPMENT BONDS. —

“(A) REDUCTION OF BASIS. — For purposes of applying the energy percentage to any property, if such property is financed in whole or in part by —

“(i) subsidized energy financing, or

“(ii) the proceeds of a private activity bond (within the meaning of section 141) the interest on which is exempt from tax under section 103,

the amount taken into account as the basis of such property shall not exceed the amount which (but for this subparagraph) would be so taken into account multiplied by the fraction determined under subparagraph (B).

“(B) DETERMINATION OF FRACTION. — For purposes of subparagraph (A), the fraction determined under this subparagraph is 1 reduced by a fraction —

“(i) the numerator of which is that portion of the basis of the property which is allocable to such financing or proceeds, and

“(ii) the denominator of which is the basis of the property.

“(C) SUBSIDIZED ENERGY FINANCING. — For purposes of subparagraph (A), the term 'subsidized energy financing' means financing provided under a Federal, State, or local program a principal purpose of which is to provide subsidized financing for projects designed to conserve or produce energy.

“(D) TERMINATION. — This paragraph shall not apply to periods after December 31, 2008, under rules similar to the rules of section 48(m) (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).".

(n) TREATMENT OF CONTRACTS INVOLVING ENERGY STORAGE. — Section 7701(e) is amended —

(1) in paragraph (3) —

(A) in subparagraph (A)(i), by inserting "or" at the end of subclause (II), by striking "or" at the end of subclause (III) and inserting "and", and by striking subclause (IV), and

(B) by striking subparagraph (F), and

(2) in paragraph (4), by striking "water treatment works facility, or storage facility" and inserting "or water treatment works facility".

(o) REMOVAL OF INCREASED CREDIT RATE FOR ENERGY COMMUNITIES. — Section 48(a) is amended by striking paragraph (14).

(p) REGULATIONS. — Section 48(a) is amended by striking paragraph (15).

(q) EFFECTIVE DATES. —

(1) IN GENERAL. — Except as provided in paragraphs (2) and (3), the amendments made by this section shall apply to property placed in service after December 31, 2021.

(2) OTHER PROPERTY. — The amendments made by subsections (f), (g), (h), (i), (j), (l), (n), and (o) shall apply to property placed in service after December 31, 2022.

(3) REMOVAL OF RULE FOR PROPERTY FINANCED BY TAX EXEMPT BONDS. — The amendment made by subsection (m) shall apply to property the construction of which begins after August 16, 2022.

SEC. 224. REPEAL OF INCREASE IN ENERGY CREDIT FOR SOLAR AND WIND FACILITIES PLACED IN SERVICE IN CONNECTION WITH LOW-INCOME COMMUNITIES.

(a) IN GENERAL. — Section 48 is amended by striking subsection (e).

(b) EFFECTIVE DATE. — The amendments made by this section shall take effect on January 1, 2023.

SEC. 225. MODIFICATION OF CREDIT FOR CARBON OXIDE SEQUESTRATION.

(a) CARBON OXIDE CAPTURE REQUIREMENTS. —

(1) IN GENERAL. — Section 45Q(d) is amended to read as follows:

“(d) QUALIFIED FACILITY. — For purposes of this section, the term 'qualified facility' means any industrial facility or direct air capture facility —

“(1) the construction of which begins before January 1, 2026, and —

“(A) construction of carbon capture equipment begins before such date, or

“(B) the original planning and design for such facility includes installation of carbon capture equipment, and

“(2) which captures —

“(A) in the case of a facility which emits not more than 500,000 metric tons of carbon oxide into the atmosphere during the taxable year, not less than 25,000 metric tons of qualified carbon oxide during the taxable year which is utilized in a manner described in subsection (f)(5),

“(B) in the case of an electricity generating facility which is not described in subparagraph (A), not less than 500,000 metric tons of qualified carbon oxide during the taxable year, or

“(C) in the case of a direct air capture facility or any facility not described in subparagraph (A) or (B), not less than 100,000 metric tons of qualified carbon oxide during the taxable year.".

(2) DEFINITIONS REMOVED. —

(A) IN GENERAL. — Section 45Q(e) is amended by striking paragraphs (1) and (2) and redesignating paragraphs (3) through (5) as paragraphs (1) through (3), respectively.

(B) CONFORMING AMENDMENT. — Section 142(o)(1)(B) is amended by striking "section 45Q(e)(3)" and inserting "section 45Q(e)(1)".

(b) MODIFIED APPLICABLE DOLLAR AMOUNT. — Section 45Q(b)(1) is amended to read as follows:

“(1) APPLICABLE DOLLAR AMOUNT. —

“(B) IN GENERAL. — The applicable dollar amount shall be an amount equal to —

“(i) for any taxable year beginning in a calendar year after 2016 and before 2027 —

“(I) for purposes of paragraph (3) of subsection (a), the dollar amount established by linear interpolation between $22.66 and $50 for each calendar year during such period, and

“(II) for purposes of paragraph of such subsection, the dollar amount established by linear interpolation between $12.83 and $35 for each calendar year during such period, and

“(ii) for any taxable year beginning in a calendar year after 2026 —

“(I) for purposes of paragraph (3) of subsection (a), an amount equal to the product of $50 and the inflation adjustment factor for such calendar year determined under section 43(b)(3)(B) for such calendar year, determined by substituting '2025' for '1990', and

“(II) for purposes of paragraph (4) of such subsection, an amount equal to the product of $35 and the inflation adjustment factor for such calendar year determined under section 43(b)(3)(B) for such calendar year, determined by substituting '2025' for '1990'.

“(C) ROUNDING. — The applicable dollar amount determined under subparagraph (A) shall be rounded to the nearest cent.".

(c) WAGE AND APPRENTICESHIP REQUIREMENTS. — Section 45Q is amended by striking subsection (h) and by redesignating subsection (i) as subsection (h).

(d) CREDIT REDUCED FOR TAX-EXEMPT BONDS. — Section 45Q(f) is amended by striking paragraph (8).

(e) APPLICATION OF SECTION FOR CERTAIN CARBON CAPTURE EQUIPMENT. — Section 45Q(g) is amended by striking "the earlier of January 1, 2023, and".

(f) ELECTION. — Section 45Q(f) is amended by striking paragraph (9).

(g) NO REGULATIONS FOR BASELINE CARBON OXIDE PRODUCTION. — Subsection (h) of section 45Q, as redesignated by subsection (c), is amended —

(1) in paragraph (1), by adding "and" at the end,

(2) in paragraph (2), by striking ", and" and inserting a period, and

(3) by striking paragraph (3).

(h) EFFECTIVE DATES. —

(1) IN GENERAL. — Except as provided in paragraphs (2), (3), and (4), the amendments made by this section shall apply to facilities or equipment placed in service after December 31, 2022.

(2) CARBON OXIDE CAPTURE REQUIREMENTS. — The amendments made by subsection (a) shall apply to facilities or equipment the construction of which begins after August 16, 2022.

(3) APPLICATION OF SECTION FOR CERTAIN CARBON CAPTURE EQUIPMENT. — The amendments made by subsection (e) shall take effect on August 16, 2022.

(4) ELECTION. — The amendment made by subsection (f) shall apply to carbon oxide captured and disposed of after December 31, 2021.

SEC. 226. ZERO-EMISSION NUCLEAR POWER PRODUCTION CREDIT REPEALED.

(a) IN GENERAL. — Subpart D of part IV of subchapter A of chapter 1 is amended by striking section 45U (and by striking the item relating to such section in the table of sections for such subpart).

(b) CONFORMING AMENDMENTS. — Section 38(b) is amended —

(1) in paragraph (32), by adding "plus" at the end,

(2) in paragraph (33), by striking the comma at the end and inserting a period, and

(3) by striking paragraph (34).

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to electricity produced and sold after December 31, 2023, in taxable years beginning after such date.

SEC. 227. INCENTIVES FOR BIODIESEL, RENEWABLE DIESEL, AND ALTERNATIVE FUELS.

(a) BIODIESEL AND RENEWABLE DIESEL CREDIT. — Section 40A(g) is amended by striking "December 31, 2024" and inserting "December 31, 2022".

(b) BIODIESEL MIXTURE CREDIT. —

(1) IN GENERAL. — Section 6426(c)(6) is amended by striking "December 31, 2024" and inserting "December 31, 2022".

(2) FUELS NOT USED FOR TAXABLE PURPOSES. — Section 6427(e)(6)(B) is amended by striking "December 31, 2024" and inserting "December 31, 2022".

(c) ALTERNATIVE FUEL CREDIT. — Section 6426(d)(5) is amended by striking "December 31, 2024" and inserting "December 31, 2021".

(d) ALTERNATIVE FUEL MIXTURE CREDIT. — Section 6426(e)(3) is amended by striking "December 31, 2024" and inserting "December 31, 2021".

(e) PAYMENTS FOR ALTERNATIVE FUELS. — Section 6427(e)(6)(C) is amended by striking "December 31, 2024" and inserting "December 31, 2021".

(f) REPEAL OF SPECIAL RULE. — Subsection (g) of section 13201 of Public Law 117-169 is repealed.

(g) EFFECTIVE DATE. — The amendments made by this section shall apply to fuel sold or used after December 31, 2021.

SEC. 228. SECOND GENERATION BIOFUEL INCENTIVES.

(a) IN GENERAL. — Section 40(b)(6)(J)(i) is amended by striking "2025" and inserting "2022".

(b) EFFECTIVE DATE. — The amendment made by subsection (a) shall apply to qualified second generation biofuel production after December 31, 2021.

SEC. 229. REPEAL OF SUSTAINABLE AVIATION FUEL CREDIT.

(a) IN GENERAL. — Subpart D of part IV of subchapter A of chapter 1 is amended by striking section 40B (and by striking the item relating to such section in the table of sections for such subpart).

(b) CONFORMING AMENDMENT. — Section 38(b) is amended by striking paragraph (35).

(c) COORDINATION WITH BIODIESEL REMOVED. —

(1) IN GENERAL. — Section 40A(d)(1) is amended by striking "or 40B".

(2) CONFORMING AMENDMENT. — Section 40A(f) is amended by adding at the end the following:

“(4) CERTAIN AVIATION FUEL. —

“(A) IN GENERAL. — Except as provided in the last 3 sentences of paragraph (3), the term 'renewable diesel' shall include fuel derived from biomass which meets the requirements of a Department of Defense specification for military jet fuel or an American Society of Testing and Materials specification for aviation turbine fuel.

“(B) APPLICATION OF MIXTURE CREDITS. — In the case of fuel which is treated as renewable diesel solely by reason of subparagraph (A), subsection (b)(1) and section 6426(c) shall be applied with respect to such fuel by treating kerosene as though it were diesel fuel.".

(3) SUSTAINABLE AVIATION FUEL CREDIT PROVISIONS REMOVED. — Section 6426 is amended by striking subsection (k).

(d) CONFORMING AMENDMENTS. —

(1) Section 6426 is amended —

(A) in subsection (a)(1), by striking "(e), and (k)" and inserting "and (e)", and

(B) in subsection (h), by striking "under section 40, 40A, or 40B" and inserting "under section 40 or 40A".

(2) Section 6427(e) is amended —

(A) in the heading, by striking "ALTERNATIVE FUEL, OR SUSTAINABLE AVIATION FUEL" and inserting "OR ALTERNATIVE FUEL",

(B) in paragraph (1), by striking "or the sustainable aviation fuel mixture credit", and

(C) in paragraph (6) —

(i) in subparagraph (C), by adding "and" at the end,

(ii) in subparagraph (D), by striking ", and" and inserting a period, and

(iii) by striking subparagraph (E).

(3) Section 4101(a)(1) is amended by striking "every person producing or importing sustainable aviation fuel (as defined in section 40B),".

(4) Section 87 is amended —

(A) in paragraph (1), by adding "and" at the end,

(B) in paragraph (2), by striking ", and" and inserting a period, and

(C) by striking paragraph (3).

(e) EFFECTIVE DATE. — The amendments made by this section shall apply to fuel sold or used after December 31, 2022.

SEC. 230. CLEAN HYDROGEN REPEALS.

(a) CREDIT FOR PRODUCTION OF CLEAN HYDROGEN REPEALED. —

(1) IN GENERAL. — Subpart D of part IV of subchapter A of chapter 1 is amended by striking section 45V (and by striking the item relating to such section in the table of sections for such subpart).

(2) CONFORMING AMENDMENT. — Section 38(b) is amended by striking paragraph (36).

(3) EFFECTIVE DATE. — The amendments made by this section shall apply to hydrogen produced after December 31, 2022.

(b) CREDIT FOR ELECTRICITY PRODUCED FROM RENEWABLE RESOURCES ALLOWED IF ELECTRICITY IS USED TO PRODUCE CLEAN HYDROGEN. —

(1) IN GENERAL. — Section 45(e) is amended by striking paragraph (13).

(c) ELECTION TO TREAT CLEAN HYDROGEN PRODUCTION FACILITIES AS ENERGY PROPERTY. —

(1) IN GENERAL. — Section 48(a) is amended by striking paragraph (15) and by redesignating paragraph (16) as paragraph (15).

(2) EFFECTIVE DATE. — The amendments made by this subsection shall apply to property placed in service after December 31, 2022.

(d) REINSTATEMENT OF ALTERNATIVE FUEL CREDIT FOR LIQUEFIED HYDROGEN. —

(1) IN GENERAL. — Section 6426(d)(2) is amended by redesignating subparagraphs (D), (E), and (F) as subparagraphs (E), (F), and (G), respectively, and by inserting after subparagraph (C) the following:

“(D) liquefied hydrogen,".

(2) CONFORMING AMENDMENT. — Section 6426(e)(2) is amended by striking "(E)" and inserting "(F)".

(3) EFFECTIVE DATE. — The amendments made by this subsection shall apply to fuel sold or used after December 31, 2022.

SEC. 231. NONBUSINESS ENERGY PROPERTY CREDIT.

(a) IN GENERAL. — Section 25C is amended to read as follows:

“SEC. 25C. NONBUSINESS ENERGY PROPERTY.

“(a) ALLOWANCE OF CREDIT. — In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of —

“(1) 10 percent of the amount paid or incurred by the taxpayer for qualified energy efficiency improvements installed during such taxable year, and

“(2) the amount of the residential energy property expenditures paid or incurred by the taxpayer during such taxable year.

“(b) LIMITATIONS. —

“(1) LIFETIME LIMITATION. — The credit allowed under this section with respect to any taxpayer for any taxable year shall not exceed the excess (if any) of $500 over the aggregate credits allowed under this section with respect to such taxpayer for all prior taxable years ending after December 31, 2005.

“(2) WINDOWS. — In the case of amounts paid or incurred for components described in subsection (c)(3)(B) by any taxpayer for any taxable year, the credit allowed under this section with respect to such amounts for such year shall not exceed the excess (if any) of $200 over the aggregate credits allowed under this section with respect to such amounts for all prior taxable years ending after December 31, 2005.

“(3) LIMITATION ON RESIDENTIAL ENERGY PROPERTY EXPENDITURES. — The amount of the credit allowed under this section by reason of subsection (a)(2) shall not exceed —

“(A) $50 for any advanced main air circulating fan,

“(B) $150 for any qualified natural gas, propane, or oil furnace or hot water boiler, and

“(C) $300 for any item of energy-efficient building property.

“(c) QUALIFIED ENERGY EFFICIENCY IMPROVEMENTS. — For purposes of this section —

“(1) IN GENERAL. — The term 'qualified energy efficiency improvements' means any energy efficient building envelope component, if —

“(A) such component is installed in or on a dwelling unit located in the United States and owned and used by the taxpayer as the taxpayer's principal residence (within the meaning of section 121),

“(B) the original use of such component commences with the taxpayer, and

“(C) such component reasonably can be expected to remain in use for at least 5 years.

"(2) ENERGY EFFICIENT BUILDING ENVELOPE COMPONENT. — The term 'energy efficient building envelope component' means a building envelope component which meets —

“(A) applicable Energy Star program requirements, in the case of a roof or roof products,

“(B) version 6.0 Energy Star program requirements, in the case of an exterior window, a skylight, or an exterior door, and

“(C) the prescriptive criteria for such component established by the 2009 International Energy Conservation Code, as such Code (including supplements) is in effect on the date of the enactment of the American Recovery and Reinvestment Tax Act of 2009, in the case of any other component.

“(3) BUILDING ENVELOPE COMPONENT. — The term 'building envelope component' means —

“(A) any insulation material or system which is specifically and primarily designed to reduce the heat loss or gain of a dwelling unit when installed in or on such dwelling unit,

“(B) exterior windows (including skylights),

“(C) exterior doors, and

“(D) any metal roof or asphalt roof installed on a dwelling unit, but only if such roof has appropriate pigmented coatings or cooling granules which are specifically and primarily designed to reduce the heat gain of such dwelling unit.

“(4) MANUFACTURED HOMES INCLUDED. — The term 'dwelling unit' includes a manufactured home which conforms to Federal Manufactured Home Construction and Safety Standards (part 3280 of title 24, Code of Federal Regulations).

“(d) RESIDENTIAL ENERGY PROPERTY EXPENDITURES. — For purposes of this section —

“(1) IN GENERAL. — The term 'residential energy property expenditures' means expenditures made by the taxpayer for qualified energy property which is —

“(A) installed on or in connection with a dwelling unit located in the United States and owned and used by the taxpayer as the taxpayer's principal residence (within the meaning of section 121), and

“(B) originally placed in service by the taxpayer.

Such term includes expenditures for labor costs properly allocable to the onsite preparation, assembly, or original installation of the property.

“(2) QUALIFIED ENERGY PROPERTY. —

“(A) IN GENERAL. — The term 'qualified energy property' means —

“(i) energy-efficient building property,

"(ii) a qualified natural gas, propane, or oil furnace or hot water boiler, or

“(iii) an advanced main air circulating fan.

“(B) PERFORMANCE AND QUALITY STANDARDS. — Property described under subparagraph shall meet the performance and quality standards, and the certification requirements (if any), which —

“(i) have been prescribed by the Secretary by regulations (after consultation with the Secretary of Energy or the Administrator of the Environmental Protection Agency, as appropriate), and

“(ii) are in effect at the time of the acquisition of the property, or at the time of the completion of the construction, reconstruction, or erection of the property, as the case may be.

“(C) REQUIREMENTS AND STANDARDS FOR AIR CONDITIONERS AND HEAT PUMPS. — The standards and requirements prescribed by the Secretary under subparagraph (B) with respect to the energy efficiency ratio (EER) for central air conditioners and electric heat pumps —

“(i) shall require measurements to be based on published data which is tested by manufacturers at 95 degrees Fahrenheit, and

“(ii) may be based on the certified data of the Air Conditioning and Refrigeration Institute that are prepared in partnership with the Consortium for Energy Efficiency.

“(3) ENERGY-EFFICIENT BUILDING PROPERTY. — The term 'energy-efficient building property' means —

“(A) an electric heat pump water heater which yields a Uniform Energy Factor of at least 2.2 in the standard Department of Energy test procedure,

“(B) an electric heat pump which achieves the highest efficiency tier established by the Consortium for Energy Efficiency, as in effect on January 1, 2009,

“(C) a central air conditioner which achieves the highest efficiency tier established by the Consortium for Energy Efficiency, as in effect on January 1, 2009, and

“(D) a natural gas, propane, or oil water heater which has either a Uniform Energy Factor of at least 0.82 or a thermal efficiency of at least 90 percent.

“(4) QUALIFIED NATURAL GAS, PROPANE, OR OIL FURNACE OR HOT WATER BOILER. — The term 'qualified natural gas, propane, or oil furnace or hot water boiler' means a natural gas, propane, or oil furnace or hot water boiler which achieves an annual fuel utilization efficiency rate of not less than 95.

“(5) ADVANCED MAIN AIR CIRCULATING FAN. — The term 'advanced main air circulating fan' means a fan used in a natural gas, propane, or oil furnace and which has an annual electricity use of no more than 2 percent of the total annual energy use of the furnace (as determined in the standard Department of Energy test procedures).

“(e) SPECIAL RULES. — For purposes of this section —

“(1) APPLICATION OF RULES. — Rules similar to the rules under paragraphs (4), (5), (6), (7), and (8) of section 25D(e) shall apply.

“(2) JOINT OWNERSHIP OF ENERGY ITEMS. —

“(A) IN GENERAL. — Any expenditure otherwise qualifying as an expenditure under this section shall not be treated as failing to so qualify merely because such expenditure was made with respect to two or more dwelling units.

“(B) LIMITS APPLIED SEPARATELY. — In the case of any expenditure described in subparagraph (A), the amount of the credit allowable under subsection (a) shall (subject to paragraph (1)) be computed separately with respect to the amount of the expenditure made for each dwelling unit.

“(3) PROPERTY FINANCED BY SUBSIDIZED ENERGY FINANCING. — For purposes of determining the amount of expenditures made by any individual with respect to any property, there shall not be taken into account expenditures which are made from subsidized energy financing (as defined in section 48(a)(4)(C)).

“(f) BASIS ADJUSTMENTS. — For purposes of this subtitle, if a credit is allowed under this section for any expenditure with respect to any property, the increase in the basis of such property which would (but for this subsection) result from such expenditure shall be reduced by the amount of the credit so allowed.

“(g) TERMINATION. — This section shall not apply with respect to any property placed in service —

“(1) after December 31, 2007, and before January 1, 2009, or

“(2) after December 31, 2021.".

(b) CONFORMING AMENDMENTS. —

(1) Section 1016(a)(33) is amended by striking "section 25C(g)" and inserting "25C(f)".

(2) Section 6213(g)(2) is amended —

(A) by adding "and" at the end of subparagraph (P),

(B) by striking the comma at the end of subparagraph (Q) and inserting a period, and

(C) by striking subparagraphs (R) and (S).

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to property placed in service after December 31, 2021.

SEC. 232. RESIDENTIAL CLEAN ENERGY CREDIT REVERTED TO CREDIT FOR RESIDENTIAL ENERGY EFFICIENT PROPERTY.

(a) EXTENSION REVERSED. —

(1) IN GENERAL. — Section 25D(h) is amended by striking "December 31, 2034" and inserting "December 31, 2023".

(2) PHASEOUT RESTORED. — Section 25D(g) is amended —

(A) in paragraph (1), by adding "and" at the end,

(B) in paragraph (2), by striking "before January 1, 2022, 26 percent," and inserting "before January 1, 2023, 26 percent, and",

(C) in paragraph (3), by striking "December 31, 2021, and before January 1, 2033, 30 percent," and inserting "December 31, 2022, and before January 1, 2024, 22 percent.", and

(D) by striking paragraphs (4) and (5).

(b) RESIDENTIAL CLEAN ENERGY CREDIT FOR BATTERY STORAGE TECHNOLOGY REMOVED; BIOMASS EXPENDITURE PROVISIONS RESTORED. —

(1) IN GENERAL. — Paragraph (6) of section 25D(a) is amended to read as follows:

“(6) the qualified biomass fuel property expenditures,",

(2) DEFINITION OF QUALIFIED BIOMASS FUEL PROPERTY EXPENDITURES RESTORED. — Paragraph (6) of section 25D(d) is amended to read as follows:

“(6) QUALIFIED BIOMASS FUEL PROPERTY EXPENDITURE. —

“(A) IN GENERAL. — The term 'qualified biomass fuel property expenditure' means an expenditure for property —

“(i) which uses the burning of biomass fuel to heat a dwelling unit located in the United States and used as a residence by the taxpayer, or to heat water for use in such a dwelling unit, and

“(ii) which has a thermal efficiency rating of at least 75 percent (measured by the higher heating value of the fuel).

“(B) BIOMASS FUEL. — For purposes of this section, the term 'biomass fuel' means any plant-derived fuel available on a renewable or recurring basis.".

(c) CONFORMING AMENDMENTS. —

(1) Section 25D(d)(3) is amended by striking ", without regard to subparagraph (D) thereof".

(2) The heading for section 25D is amended by striking "CLEAN ENERGY CREDIT“ and inserting "ENERGY EFFICIENT PROPERTY“.

(3) The table of sections for subpart A of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 25D and inserting the following:

“Sec. 25D. Residential energy efficient property."

(d) EFFECTIVE DATES. —

(1) IN GENERAL. — Except as provided in paragraph (2), the amendments made by this section shall apply to expenditures made after December 31, 2021.

(2) RESIDENTIAL CLEAN ENERGY CREDIT FOR BATTERY STORAGE TECHNOLOGY REMOVED; BIOMASS EXPENDITURE PROVISIONS RESTORED. — The amendments made by subsection (b) shall apply to expenditures made after December 31, 2022.

SEC. 233. ENERGY EFFICIENT COMMERCIAL BUILDINGS DEDUCTION.

(a) IN GENERAL. —

(1) MAXIMUM AMOUNT OF DEDUCTION RULES RESTORED. — Section 179D(b) is amended to read as follows:

“(b) MAXIMUM AMOUNT OF DEDUCTION. — The deduction under subsection (a) with respect to any building for any taxable year shall not exceed the excess (if any) of —

“(1) the product of —

“(A) $1.80, and

“(B) the square footage of the building, over

“(2) the aggregate amount of the deductions under subsection (a) with respect to the building for all prior taxable years.".

(2) MODIFICATION OF EFFICIENCY STANDARD. — Section 179D(c)(1)(D) is amended by striking "25 percent" and inserting "50 percent".

(3) REFERENCE STANDARD. — Section 179D(c)(2) is amended to read as follows:

“(2) REFERENCE STANDARD 90.1. — The term 'Reference Standard 90.1' means, with respect to any property, the most recent Standard 90.1 published by the American Society of Heating, Refrigerating, and Air Conditioning Engineers and the Illuminating Engineering Society of North America which has been affirmed by the Secretary, after consultation with the Secretary of Energy, for purposes of this section not later than the date that is 2 years before the date that construction of such property begins.".

(4) PARTIAL ALLOWANCE. —

(A) IN GENERAL. — Section179D(d) is amended —

(i) by redesignating paragraphs (1) through (5) as paragraphs (2) through (6), respectively, and

(ii) by inserting before paragraph (2) the following:

“(1) PARTIAL ALLOWANCE. —

“(A) IN GENERAL. — Except as provided in subsection (f), if —

“(i) the requirement of subsection (c)(1)(D) is not met, but

“(ii) there is a certification in accordance with paragraph (6) that any system referred to in subsection (c)(1)(C) satisfies the energy-savings targets established by the Secretary under subparagraph (B) with respect to such system,

then the requirement of subsection (c)(1)(D) shall be treated as met with respect to such system, and the deduction under subsection (a) shall be allowed with respect to energy efficient commercial building property installed as part of such system and as part of a plan to meet such targets, except that subsection (b) shall be applied to such property by substituting '$.60' for '$1.80'.

“(B) REGULATIONS. — The Secretary, after consultation with the Secretary of Energy, shall establish a target for each system described in subsection (c)(1)(C) such that, if such targets were met for all such systems, the building would meet the requirements of subsection (c)(1)(D).".

(B) CONFORMING AMENDMENTS. —

(i) Section 179D(c)(1)(D) is amended —

(I) by striking "subsection (d)(5)" and inserting "subsection (d)(6)", and

(II) by striking "subsection (d)(1)" and inserting "subsection (d)(2)".

(ii) Paragraph(3)(A) of section 179D(d), as redesignated by subparagraph (A), is amended by striking "paragraph (1)" and inserting "paragraph (2)".

(iii) Paragraph (5) of section 179D(d), as redesignated by subparagraph (A), is amended by striking "paragraph (2)(B)(iii)" and inserting "paragraph (3)(B)(iii)".

(iv) Section 179D(h)(2) is amended by inserting "or (d)(1)(A)" after "subsection (c)(1)(D)".

(5) ALLOCATION OF DEDUCTION FOR PUBLIC PROPERTY. — Paragraph (4) of section 179D(d), as redesignated by paragraph (4)(A), is amended to read as follows:

“(4) ALLOCATION OF DEDUCTION FOR PUBLIC PROPERTY. — In the case of energy efficient commercial building property installed on or in property owned by a Federal, State, or local government or a political subdivision thereof, the Secretary shall promulgate a regulation to allow the allocation of the deduction to the person primarily responsible for designing the property in lieu of the owner of such property. Such person shall be treated as the taxpayer for purposes of this section.".

(6) ALTERNATIVE DEDUCTION FOR ENERGY EFFICIENT BUILDING RETROFIT PROPERTY REPEALED. —

(A) IN GENERAL. — Section179D is amended by striking subsection (f).

(B) RESTORATION OF TEXT RELATING TO INTERIM RULES FOR LIGHTING SYSTEMS. — Section 179D is amended by inserting after subsection (e) the following:

“(f) INTERIM RULES FOR LIGHTING SYSTEMS. — Until such time as the Secretary issues final regulations under subsection (d)(1)(B) with respect to property which is part of a lighting system —

“(1) IN GENERAL. — The lighting system target under subsection (d)(1)(A)(ii) shall be a reduction in lighting power density of 25 percent (50 percent in the case of a warehouse) of the minimum requirements in Table 9.5.1 or Table 9.6.1 (not including additional interior lighting power allowances) of Standard 90.1-2007.

“(2) REDUCTION IN DEDUCTION IF REDUCTION LESS THAN 40 PERCENT. —

“(A) IN GENERAL. — If, with respect to the lighting system of any building other than a warehouse, the reduction in lighting power density of the lighting system is not at least 40 percent, only the applicable percentage of the amount of deduction otherwise allowable under this section with respect to such property shall be allowed.

“(B) APPLICABLE PERCENTAGE. — For purposes of subparagraph (A), the applicable percentage is the number of percentage points (not greater than 100) equal to the sum of —

“(i) 50, and

“(ii) the amount which bears the same ratio to 50 as the excess of the reduction of lighting power density of the lighting system over 25 percentage points bears to 15.

“(C) EXCEPTIONS. — This subsection shall not apply to any system —

“(i) the controls and circuiting of which do not comply fully with the mandatory and prescriptive requirements of Standard 90.1-2007 and which do not include provision for bilevel switching in all occupancies except hotel and motel guest rooms, store rooms, restrooms, and public lobbies, or

“(ii) which does not meet the minimum requirements for calculated lighting levels as set forth in the Illuminating Engineering Society of North America Lighting Handbook, Performance and Application, Ninth Edition, 2000.".

(7) INFLATION ADJUSTMENT. — Section 179D(g) is amended —

(A) by inserting "or subsection (d)(1)(A)" after "subsection (b)",

(B) by striking "2022" and inserting "2020", and

(C) by striking "calendar year 2021" and inserting "calendar year 2019".

(b) SPECIAL RULE FOR REAL ESTATE INVESTMENT TRUSTS REMOVED. — Section 312(k)(3)(B) is amended to read as follows:

“(B) TREATMENT OF AMOUNTS DEDUCTIBLE UNDER SECTION 179, 179B, 179C, 179D, OR 179E. — For purposes of computing the earnings and profits of a corporation, any amount deductible under section 179, 179B, 179C, 179D, or 179E shall be allowed as a deduction ratably over the period of 5 taxable years (beginning with the taxable year for which such amount is deductible under section 179, 179B, 179C, 179D, or 179E, as the case may be).".

(c) CONFORMING AMENDMENT. — Paragraph (2) of section 179D(d), as redesignated by subsection (a)(4)(A), is amended by striking "not later than the date that is 4 years before the date such property is placed in service" and inserting "not later than the date that is 2 years before the date that construction of such property begins".

(d) EFFECTIVE DATES. — The amendments made by this section shall apply to taxable years beginning after December 31, 2022.

SEC. 234. MODIFICATIONS TO NEW ENERGY EFFICIENT HOME CREDIT.

(a) EXTENSION REVERSED. — Section 45L(h) is amended by striking "December 31, 2032" and inserting "December 31, 2021".

(b) DECREASE IN CREDIT AMOUNTS. — Paragraph (2) of section 45L(a) is amended to read as follows:

“(2) APPLICABLE AMOUNT. — For purposes of paragraph (1), the applicable amount is an amount equal to —

“(A) in the case of a dwelling unit described in paragraph (1) or (2) of subsection (c), $2,000, and

“(B) in the case of a dwelling unit described in paragraph (3) of subsection (c), $1,000.".

(c) REVERSAL OF MODIFICATION OF ENERGY SAVING REQUIREMENTS. — Section 45L(c) is amended to read as follows:

“(c) ENERGY SAVING REQUIREMENTS. — A dwelling unit meets the energy saving requirements of this subsection if such unit is —

“(1) certified —

“(A) to have a level of annual heating and cooling energy consumption which is at least 50 percent below the annual level of heating and cooling energy consumption of a comparable dwelling unit —

“(i) which is constructed in accordance with the standards of chapter 4 of the 2006 International Energy Conservation Code, as such Code (including supplements) is in effect on January 1, 2006, and

“(ii) for which the heating and cooling equipment efficiencies correspond to the minimum allowed under the regulations established by the Department of Energy pursuant to the National Appliance Energy Conservation Act of 1987 and in effect at the time of completion of construction, and

“(2) a manufactured home which conforms to Federal Manufactured Home Construction and Safety Standards (part 3280 of title 24, Code of Federal Regulations) and which meets the requirements of paragraph (1), or

“(3) a manufactured home which conforms to Federal Manufactured Home Construction and Safety Standards (part 3280 of title 24, Code of Federal Regulations) and which —

“(A) meets the requirements of paragraph (1) applied by substituting '30 percent' for '50 percent' both places it appears therein and by substituting '1⁄3' for '1⁄5' in subparagraph (B) thereof, or

“(B) meets the requirements established by the Administrator of the Environmental Protection Agency under the Energy Star Labeled Homes program.".

(d) PREVAILING WAGE REQUIREMENT REMOVED. — Section 45L is amended by striking subsection (g) and redesignating subsection (h) as subsection (g).

(e) BASIS ADJUSTMENT. — Section 45L(e) is amended by striking "This subsection shall not apply for purposes of determining the adjusted basis of any building under section 42".

(f) EFFECTIVE DATES. — The amendments made by this section shall apply to dwelling units acquired after December 31, 2021.

SEC. 235. CLEAN VEHICLE CREDIT.

(a) PER VEHICLE DOLLAR LIMITATION. — Section 30D(b) is amended by striking paragraphs (2) and (3) and inserting the following:

“(2) BASE AMOUNT. — The amount determined under this paragraph is $2,500.

“(3) BATTERY CAPACITY. — In the case of a vehicle which draws propulsion energy from a battery with not less than 5 kilowatt hours of capacity, the amount determined under this paragraph is $417, plus $417 for each kilowatt hour of capacity in excess of 5 kilowatt hours. The amount determined under this paragraph shall not exceed $5,000.".

(b) FINAL ASSEMBLY. — Section 30D(d) is amended —

(1) in paragraph (1) —

(A) in subparagraph (E), by adding "and" at the end,

(B) in subparagraph (F)(ii), by striking the comma at the end and inserting a period, and

(C) by striking subparagraph (G), and

(2) by striking paragraph (5).

(c) DEFINITION. —

(1) IN GENERAL. — Section 30D(d), as amended by subsection (b), is amended —

(A) in the heading, by striking "CLEAN" and inserting "QUALIFIED PLUG-IN ELECTRIC DRIVE MOTOR",

(B) in paragraph (1) —

(i) in the matter preceding subparagraph (A), by striking "clean" and inserting "qualified plug-in electric drive motor",

(ii) in subparagraph (C), by striking "qualified" before "manufacturer",

(iii) in subparagraph (F)(i), by striking "7" and inserting "4", and

(iv) by striking subparagraph (H), (C) in paragraph (3) —

(i) in the heading, by striking "QUALIFIED MANUFACTURER" and inserting "MANUFACTURER", and

(ii) by striking "The term 'qualified manufacturer' means" and all that follows through the period and inserting "The term "manufacturer" has the meaning given such term in regulations prescribed by the Administrator of the Environmental Protection Agency for purposes of the administration of title II of the Clean Air Act (42 U.S.C. 7521 et seq.).", and (D) by striking paragraph (6).

(2) CONFORMING AMENDMENTS. — Section 30D is amended —

(A) in subsection (a), by striking "new clean vehicle" and inserting "new qualified plug-in electric drive motor vehicle", and

(B) in subsection (b)(1), by striking "new clean vehicle" and inserting "new qualified plug-in electric drive motor vehicle".

(d) CRITICAL MINERAL REQUIREMENTS REMOVED. — Section 30D is amended by striking subsection (e).

(e) LIMITATION ON NUMBER OF VEHICLES ELIGIBLE FOR CREDIT RESTORED. —

(1) IN GENERAL. — Section 30D is amended by inserting after subsection (d) the following:

“(e) LIMITATION ON NUMBER OF NEW QUALIFIED PLUG-IN ELECTRIC DRIVE MOTOR VEHICLES ELIGIBLE FOR CREDIT. —

“(1) IN GENERAL. — In the case of a new qualified plug-in electric drive motor vehicle sold during the phaseout period, only the applicable percentage of the credit otherwise allowable under subsection (a) shall be allowed.

“(2) PHASEOUT PERIOD. — For purposes of this subsection, the phaseout period is the period beginning with the second calendar quarter following the calendar quarter which includes the first date on which the number of new qualified plug-in electric drive motor vehicles manufactured by the manufacturer of the vehicle referred to in paragraph (1) sold for use in the United States after December 31, 2009, is at least 200,000.

“(3) APPLICABLE PERCENTAGE. — For purposes of paragraph (1), the applicable percentage is —

“(A) 50 percent for the first 2 calendar quarters of the phaseout period,

“(B) 25 percent for the 3rd and 4th calendar quarters of the phaseout period, and (C)

“(C) 0 percent for each calendar quarter thereafter.

“(4) CONTROLLED GROUPS. — Rules similar to the rules of section 30B(f)(4) shall apply for purposes of this subsection.".

(2) EXCLUDED ENTITIES. — Section 30D(d), as amended by Public Law 117-169, is amended by striking paragraph (7).

(f) SPECIAL RULES REPEALED. — Section 30D(f) is amended by striking paragraphs (8), (9), (10), and (11).

(g) TRANSFER OF CREDIT REPEALED. —

(1) IN GENERAL. — Section 30D is amended by striking subsection (g).

(2) RESTORATION OF TEXT RELATING TO PLUG-IN ELECTRIC VEHICLES. — Section 30D is amended by inserting after subsection (f) the following:

“(g) CREDIT ALLOWED FOR 2 AND 3-WHEELED PLUG-IN ELECTRIC VEHICLES. —

“(1) IN GENERAL. — In the case of a qualified 2- or 3-wheeled plug-in electric vehicle —

“(A) there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of the applicable amount with respect to each such qualified 2- or 3-wheeled plug-in electric vehicle placed in service by the taxpayer during the taxable year, and

“(B) the amount of the credit allowed under subparagraph (A) shall be treated as a credit allowed under subsection (a).

“(2) APPLICABLE AMOUNT. — For purposes of paragraph (1), the applicable amount is an amount equal to the lesser of —

“(A) 10 percent of the cost of the qualified 2- or 3-wheeled plug-in electric vehicle, or $

“(B) 2,500.

“(3) QUALIFIED 2- or 3-WHEELED PLUG-IN ELECTRIC VEHICLE. — The term 'qualified 2- or 3-wheeled plug-in electric vehicle' means any vehicle which —

“(A) has 2- or 3 wheels,

“(B) meets the requirements of subparagraphs (A), (B), (C), (E), and (F) of subsection (d)(1) (determined by substituting '2.5 kilowatt hours' for '4 kilowatt hours' in subparagraph (F)(i)),

“(C) is manufactured primarily for use on public streets, roads, and highways,

“(D) is capable of achieving a speed of 45 miles per hour or greater, and

“(E) is acquired —

“(i) after December 31, 2011, and before January 1, 2014, or

“(ii) in the case of a vehicle that has 2 wheels, after December 31, 2014, and before January 1, 2022.".

(3) CONFORMING AMENDMENTS REVERSED. — Section 30D(f), as amended by Public Law 117-169, is amended —

(A) by inserting after paragraph (2) the following:

“(3) PROPERTY USED BY TAX-EXEMPT ENTITY. — In the case of a vehicle the use of which is described in paragraph (3) or (4) of section 50(b) and which is not subject to a lease, the person who sold such vehicle to the person or entity using such vehicle shall be treated as the taxpayer that placed such vehicle in service, but only if such person clearly discloses to such person or entity in a document the amount of any credit allowable under subsection (a) with respect to such vehicle (determined without regard to subsection (c)). For purposes of subsection (c), property to which this paragraph applies shall be treated as of a character subject to an allowance for depreciation.", and

(B) in paragraph (8), by striking ", including any vehicle with respect to which the taxpayer elects the application of subsection (g)".

(h) TERMINATION REPEALED. — Section 30D is amended by striking subsection (h).

(i) ADDITIONAL CONFORMING AMENDMENTS. —

(1) The heading of section 30D is amended by striking "CLEAN VEHICLE CREDIT“ and inserting "NEW QUALIFIED PLUG-IN ELECTRIC DRIVE MOTOR VEHICLES“.

(2) Section 30B is amended —

(A) in subsection (h)(8) by inserting ", except that no benefit shall be recaptured if such property ceases to be eligible for such credit by reason of conversion to a qualified plug-in electric drive motor vehicle", before the period at the end, and

(B) by inserting after subsection (h) the following subsection:

“(i) PLUG-IN CONVERSION CREDIT. —

“(1) IN GENERAL. — For purposes of subsection (a), the plug-in conversion credit determined under this subsection with respect to any motor vehicle which is converted to a qualified plug-in electric drive motor vehicle is 10 percent of so much of the cost of the converting such vehicle as does not exceed $40,000.

“(2) QUALIFIED PLUG-IN ELECTRIC DRIVE MOTOR VEHICLE. — For purposes of this subsection, the term "qualified plug-in electric drive motor vehicle" means any new qualified plug-in electric drive motor vehicle (as defined in section 30D, determined without regard to whether such vehicle is made by a manufacturer or whether the original use of such vehicle commences with the taxpayer).

“(3) CREDIT ALLOWED IN ADDITION TO OTHER CREDITS. — The credit allowed under this subsection shall be allowed with respect to a motor vehicle notwithstanding whether a credit has been allowed with respect to such motor vehicle under this section (other than this subsection) in any preceding taxable year.

“(4) TERMINATION. — This subsection shall not apply to conversions made after December 31, 2011.".

(3) Section 38(b)(30) is amended by striking "clean" and inserting "qualified plug-in electric drive motor".

(4) Section 6213(g)(2) is amended by striking subparagraph (T).

(5) Section 6501(m) is amended by striking "30D(f)(6)" and inserting "30D(e)(4)".

(6) The table of sections for subpart B of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 30D and inserting after the item relating to section 30C the following item:

“Sec. 30D. New qualified plug-in electric drive motor vehicles."

(j) GROSS UP REPEALED. — Section 13401 of Public Law 117-169 is amended by striking subsection (j).

(k) TRANSITION RULE REPEALED. — Section 13401 of Public Law 117-169 is amended by striking subsection (l).

(1) EFFECTIVE DATES. —

(1) IN GENERAL. — Except as provided in paragraphs (2), (3), (4), and (5), the amendments made by this section shall apply to vehicles placed in service after December 31, 2022.

(2) FINAL ASSEMBLY. — The amendments made by subsection (b) shall apply to vehicles sold after August 16, 2022.

(3) MANUFACTURER LIMITATION. — The amendment made by subsections (d) and (e) shall apply to vehicles sold after December 31, 2022.

(4) TRANSFER OF CREDIT. — The amendments made by subsection (g) shall apply to vehicles placed in service after December 31, 2023.

(5) TRANSITION RULE. — The amendment made by subsection (k) shall take effect as if included in Public Law 117-169.

SEC. 236. REPEAL OF CREDIT FOR PREVIOUSLY-OWNED CLEAN VEHICLES.

(a) IN GENERAL. — Subpart A of part IV of subchapter A of chapter 1 is amended by striking section 25E (and by striking the item relating to such section in the table of sections for such subpart).

(b) CONFORMING AMENDMENT. — Section 6213(g)(2) is amended by striking subparagraph (U).

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to vehicles acquired after December 31, 2022.

SEC. 237. REPEAL OF CREDIT FOR QUALIFIED COMMERCIAL CLEAN VEHICLES.

(a) IN GENERAL. — Subpart D of part IV of subchapter A of chapter 1 is amended by striking section 45W (and by striking the item relating to such section in the table of sections for such subpart).

(b) CONFORMING AMENDMENTS. —

(1) Section 38(b) is amended by striking paragraph (37).

(2) Section 6213(g)(2) is amended by striking subparagraph (V).

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to vehicles acquired after December 31, 2022.

SEC. 238. ALTERNATIVE FUEL REFUELING PROPERTY CREDIT.

(a) IN GENERAL. — Section 30C(i) is amended by striking "December 31, 2032" and inserting "December 31, 2021".

(b) PROPERTY OF A CHARACTER SUBJECT TO DEPRECIATION. —

(1) IN GENERAL. — Section 30C(a) is amended by striking "(6 percent in the case of property of a character subject to depreciation)".

(2) MODIFICATION OF CREDIT LIMITATION. — Subsection (b) of section 30C is amended —

(A) in the matter preceding paragraph (1) —

(i) by striking "with respect to any single item of" and inserting "with respect to all", and

(ii) by inserting "at a location" before "shall not exceed", and

(B) in paragraph (1), by striking "$100,000 in the case of any such item of property" and inserting "$30,000 in the case of a property".

(3) BIDIRECTIONAL CHARGING EQUIPMENT NOT INCLUDED; ELIGIBLE CENSUS TRACT REQUIREMENT REMOVED. — Section 30C(c) is amended to read as follows:

“(c) QUALIFIED ALTERNATIVE FUEL VEHICLE REFUELING PROPERTY. — For purposes of this section, the term 'qualified alternative fuel vehicle refueling property' has the same meaning as the term 'qualified clean-fuel vehicle refueling property' would have under section 179A if —

“(1) paragraph (1) of section 179A(d) did not apply to property installed on property which is used as the principal residence (within the meaning of section 121) of the taxpayer, and

“(2) only the following were treated as clean-burning fuels for purposes of section 179A(d):

“(A) Any fuel at least 85 percent of the volume of which consists of one or more of the following: ethanol, natural gas, compressed natural gas, liquified natural gas, liquefied petroleum gas, or hydrogen.

“(B) Any mixture —

“(i) which consists of two or more of the following: biodiesel (as defined in section 40A(d)(1)), diesel fuel (as defined in section 4083(a)(3)), or kerosene, and

“(ii) at least 20 percent of the volume of which consists of biodiesel (as so defined) determined without regard to any kerosene in such mixture.

“(C) Electricity.".

(c) CERTAIN ELECTRIC CHARGING STATIONS NOT INCLUDED AS QUALIFIED ALTERNATIVE FUEL VEHICLE REFUELING PROPERTY; WAGE AND APPRENTICESHIP REQUIREMENTS REMOVED. — Section 30C is amended by striking subsections (f) and (g) and redesignating subsections (h) and (i) as subsections (f) and (g), respectively.

(d) EFFECTIVE DATE. — The amendments made by this section shall apply to property placed in service after December 31, 2021.

SEC. 239. ADVANCED ENERGY PROJECT CREDIT EXTENSION REVERSED.

(a) IN GENERAL. — Section 48C is amended by striking subsection (e) and redesignating subsection (f) as subsection (e).

(b) MODIFICATION OF QUALIFYING ADVANCED ENERGY PROJECTS. — Section 48C(c)(1)(A) is amended —

(1) by striking ", any portion of the qualified investment of which is certified by the Secretary under subsection (e) as eligible for a credit under this section",

(2) in clause (i) —

(A) by striking "an industrial or manufacturing facility for the production or recycling of" and inserting "a manufacturing facility for the production of",

(B) in subclause (I), by striking "water,",

(C) in subclause (II), by striking "energy storage systems and components" and inserting "an energy storage system for use with electric or hybrid-electric motor vehicles",

(D) in subclause (III), by striking "grid modernization equipment or components" and inserting "grids to support the transmission of intermittent sources of renewable energy, including storage of such energy",

(E) in subclause (IV), by striking ", remove, use, or sequester carbon oxide emissions" and inserting "and sequester carbon dioxide emissions",

(F) by striking subclause and inserting the following:

“(V) property designed to refine or blend renewable fuels or to produce energy conservation technologies (including energy-conserving lighting technologies and smart grid technologies),",

(G) by striking subclauses (VI), (VII), and (VIII),

(H) by inserting after subclause the following:

“(VI) new qualified plug-in electric drive motor vehicles (as defined by section 30D) or components which are designed specifically for use with such vehicles, including electric motors, generators, and power control units, or", and

(I) by redesignating subclause (IX) as subclause (VII), and inserting ", and" at the end of such subclause, and

(3) by striking clauses (ii) and (iii) and inserting the following:

“(ii) any portion of the qualified investment of which is certified by the Secretary under subsection (d) as eligible for a credit under this section.".

(c) CONFORMING AMENDMENT. — Subparagraph (A) of section 48C(c)(2) is amended to read as follows:

“(A) which is necessary for the production of property described in paragraph (1)(A)(i),".

(d) DENIAL OF DOUBLE BENEFIT. — Section 48C(e), as redesignated by this section, is amended by striking "48B, 48E, 45Q, or 45V" and inserting "or 48B".

(e) EFFECTIVE DATE. — The amendments made by this section shall take effect on January 1, 2023.

SEC. 240. REPEAL OF ADVANCED MANUFACTURING PRODUCTION CREDIT.

(a) IN GENERAL. — Subpart D of part IV of subchapter A of chapter 1 is amended by striking section 45X (and by striking the item relating to such section in the table of sections for such subpart).

(b) CONFORMING AMENDMENT. — Section 38(b) is amended by striking paragraph (38).

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to components produced and sold after December 31, 2022.

SEC. 241. REPEAL OF CLEAN ELECTRICITY PRODUCTION CREDIT.

(a) IN GENERAL. — Subpart D of part IV of subchapter A of chapter 1 is amended by striking section 45Y (and by striking the item relating to such section in the table of sections for such subpart).

(b) CONFORMING AMENDMENT. — Section 38(b) is amended by striking paragraph (39).

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to facilities placed in service after December 31, 2024.

SEC. 242. REPEAL OF CLEAN ELECTRICITY INVESTMENT CREDIT.

(a) IN GENERAL. — Subpart E of part IV of subchapter A of chapter 1 is amended by striking section 48E (and by striking the item relating to such section in the table of sections for such subpart).

(b) CONFORMING AMENDMENTS. —

(1) Section 46, as amended by Public Law 117-169, is amended —

(A) in paragraph (5), by adding "and" at the end,

(B) in paragraph (6), by striking ", and" and inserting a period, and

(C) by striking paragraph (7).

(2) Section 49(a)(1)(C), as amended by Public Law 117-169, is amended —

(A) by adding "and" at the end of clause (v),

(B) by striking the comma at the end of clause (vi) and inserting a period, and

(C) by striking clauses (vii) and (viii).

(3) Section 50(a)(2)(E), as amended by Public Law 117-169, is amended by striking "48D(b)(5), or 48E(e)" and inserting "or 48D(b)(5)".

(4) Section 50(c)(3), as amended by Public Law 117-169, is amended by striking "or clean electricity investment credit".

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to facilities and property placed in service after December 31, 2024.

SEC. 243. COST RECOVERY FOR QUALIFIED FACILITIES, QUALIFIED PROPERTY, AND ENERGY STORAGE TECHNOLOGY REMOVED.

(a) IN GENERAL. — Section 168(e)(3)(B), as amended by Public Law 117-169, is amended —

(1) in clause (vi)(III), by adding "and" at the end,

(2) in clause (vii), by striking ", and," at the end and inserting a period, and

(3) by striking clause (viii).

(b) EFFECTIVE DATE. — The amendments made by this section shall apply to facilities and property placed in service after December 31, 2024.

SEC. 244. REPEAL OF CLEAN FUEL PRODUCTION CREDIT.

(a) IN GENERAL. — Subpart D of part IV of subchapter A of chapter 1 is amended by striking section 45Z (and by striking the item relating to such section in the table of sections for such subpart).

(b) CONFORMING AMENDMENTS. —

(1) Section 30C(c)(1)(B), as amended by Public Law 117-169, is amended by striking clause (iv).

(2) Section 38(b), as amended by Public Law 117-169, is amended by striking paragraph (40).

(3) Section 4101(a)(1), as amended by Public Law 117-169, is amended by striking "every person producing a fuel eligible for the clean fuel production credit (pursuant to section 45Z),".

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to transportation fuel produced after December 31, 2024.

SEC. 245. REPEAL OF SECTIONS RELATING TO ELECTIVE PAYMENT FOR ENERGY PROPERTY AND ELECTRICITY PRODUCED FROM CERTAIN RENEWABLE RESOURCES; TRANSFER OF CREDITS.

(a) IN GENERAL. — Subchapter B of chapter 65 is amended by striking sections 6417 and 6418 (and by striking the items relating to such sections in the table of sections for such subchapter).

(b) CONFORMING AMENDMENTS. —

(1) Section 50(d) is amended by striking "In the case of a real estate investment trust making an election under section 6418, paragraphs (1)(B) and (2)(B) of the section 46(e) referred to in paragraph

(1) of this subsection shall not apply to any investment credit property of such real estate investment trust to which such election applies".

(2) Section 39(a) is amended by striking paragraph (4).

(3) Section 13801 of Public Law 117-169 is amended by striking subsection (f).

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to taxable years beginning after December 31, 2022.

TITLE IV — FAMILY AND SMALL BUSINESS TAXPAYER PROTECTION

SEC. 251. RESCISSION OF CERTAIN BALANCES MADE AVAILABLE TO THE INTERNAL REVENUE SERVICE.

The unobligated balances of amounts appropriated or otherwise made available for activities of the Internal Revenue Service by paragraphs (1)(A)(ii), (1)(A)(iii), (1)(B), (2), (3), (4), and (5) of section 10301 of Public Law 117-169 (commonly known as the "Inflation Reduction Act of 2022") as of the date of the enactment of this Act are rescinded.

DIVISION C — GROW THE ECONOMY

* * *

TITLE IV — REGULATIONS FROM THE EXECUTIVE IN NEED OF SCRUTINY

SEC. 331. SHORT TITLE.

This title may be cited as the "Regulations from the Executive in Need of Scrutiny Act of 2023".

SEC. 332. PURPOSE.

The purpose of this title is to increase accountability for and transparency in the Federal regulatory process. Section 1 of article I of the United States Constitution grants all legislative powers to Congress. Over time, Congress has excessively delegated its constitutional charge while failing to conduct appropriate oversight and retain accountability for the content of the laws it passes. By requiring a vote in Congress, the REINS Act will result in more carefully drafted and detailed legislation, an improved regulatory process, and a legislative branch that is truly accountable to the American people for the laws imposed upon them.

SEC. 333. CONGRESSIONAL REVIEW OF AGENCY RULEMAKING.

Chapter 8 of title 5, United States Code, is amended to read as follows:

“CHAPTER 8 — CONGRESSIONAL REVIEW OF AGENCY RULEMAKING

“Sec.

“801. Congressional review.

“802. Congressional approval procedure for major rules.

“803. Congressional disapproval procedure for nonmajor rules.

“804. Definitions.

“805. Judicial review.

“806. Exemption for monetary policy.

“807. Effective date of certain rules.

Ҥ801. Congressional review

“(a)(1)(A) Before a rule may take effect, the Federal agency promulgating such rule shall publish in the Federal Register a list of information on which the rule is based, including data, scientific and economic studies, and cost-benefit analyses, and identify how the public can access such information online, and shall submit to each House of the Congress and to the Comptroller General a report containing —

“(i) a copy of the rule;

“(ii) a concise general statement relating to the rule;

“(iii) a classification of the rule as a major or nonmajor rule, including an explanation of the classification specifically addressing each criteria for a major rule contained within subparagraphs (A) through (C) of section 804(2);

“(iv) a list of any other related regulatory actions intended to implement the same statutory provision or regulatory objective as well as the individual and aggregate economic effects of those actions; and

“(v) the proposed effective date of the rule.

“(B) On the date of the submission of the report under subparagraph (A), the Federal agency promulgating the rule shall submit to the Comptroller General and make available to each House of Congress —

“(i) a complete copy of the cost-benefit analysis of the rule, if any, including an analysis of any jobs added or lost, differentiating between public and private sector jobs;

“(ii) the agency's actions pursuant to sections 603, 604, 605, 607, and 609 of this title;

“(iii) the agency's actions pursuant to sections 202, 203, 204, and 205 of the Unfunded Mandates Reform Act of 1995; and

“(iv) any other relevant information or requirements under any other Act and any relevant Executive orders.

“(C) Upon receipt of a report submitted under subparagraph (A), each House shall provide copies of the report to the chairman and ranking member of each standing committee with jurisdiction under the rules of the House of Representatives or the Senate to report a bill to amend the provision of law under which the rule is issued.

“(2)(A) The Comptroller General shall provide a report on each major rule to the committees of jurisdiction by the end of 15 calendar days after the submission or publication date. The report of the Comptroller General shall include an assessment of the agency's compliance with procedural steps required by paragraph (1)(B) and an assessment of whether the major rule imposes any new limits or mandates on private-sector activity.

“(B) Federal agencies shall cooperate with the Comptroller General by providing information relevant to the Comptroller General's report under subparagraph (A).

“(3) A major rule relating to a report submitted under paragraph (1) shall take effect upon enactment of a joint resolution of approval described in section 802 or as provided for in the rule following enactment of a joint resolution of approval described in section 802, whichever is later.

“(4) A nonmajor rule shall take effect as provided by section 803 after submission to Congress under paragraph (1).

“(5) If a joint resolution of approval relating to a major rule is not enacted within the period provided in subsection (b)(2), then a joint resolution of approval relating to the same rule may not be considered under this chapter in the same Congress by either the House of Representatives or the Senate.

“(b)(1) A major rule shall not take effect unless the Congress enacts a joint resolution of approval described under section 802.

“(2) If a joint resolution described in subsection (a) is not enacted into law by the end of 70 session days or legislative days, as applicable, beginning on the date on which the report referred to in subsection (a)(1)(A) is received by Congress (excluding days either House of Congress is adjourned for more than 3 days during a session of Congress), then the rule described in that resolution shall be deemed not to be approved and such rule shall not take effect.

“(c)(1) Notwithstanding any other provision of this section (except subject to paragraph (3)), a major rule may take effect for one 90-calendar-day period if the President makes a determination under paragraph (2) and submits written notice of such determination to the Congress.

“(2) Paragraph (1) applies to a determination made by the President by Executive order that the major rule should take effect because such rule is —

“(A) necessary because of an imminent threat to health or safety or other emergency;

“(B) necessary for the enforcement of criminal laws;

“(C) necessary for national security; or

“(D) issued pursuant to any statute implementing an international trade agreement.

“(3) An exercise by the President of the authority under this subsection shall have no effect on the procedures under section 802.

“(d)(1) In addition to the opportunity for review otherwise provided under this chapter, in the case of any rule for which a report was submitted in accordance with subsection (a)(1)(A) during the period beginning on the date occurring —

“(A) in the case of the Senate, 60 session days; or

“(B) in the case of the House of Representatives, 60 legislative days, before the date the Congress is scheduled to adjourn a session of Congress through the date on which the same or succeeding Congress first convenes its next session, sections 802 and 803 shall apply to such rule in the succeeding session of Congress.

“(2)(A) In applying sections 802 and 803 for purposes of such additional review, a rule described under paragraph (1) shall be treated as though —

“(i) such rule were published in the Federal Register on —

“(I) in the case of the Senate, the 15th session day; or

“(II) in the case of the House of Representatives, the 15th legislative day, after the succeeding session of Congress first convenes; and

“(ii) a report on such rule were submitted to Congress under subsection (a)(1) on such date.

“(B) Nothing in this paragraph shall be construed to affect the requirement under subsection (a)(1) that a report shall be submitted to Congress before a rule can take effect.

“(3) A rule described under paragraph (1) shall take effect as otherwise provided by law (including other subsections of this section).

Ҥ802. Congressional approval procedure for major rules

“(a)(1) For purposes of this section, the term 'joint resolution' means only a joint resolution addressing a report classifying a rule as major pursuant to section 801(a)(1)(A)(iii) that —

“(A) bears no preamble;

“(B) bears the following title (with blanks filled as appropriate): 'Approving the rule submitted by ___ relating to ___.';

“(C) includes after its resolving clause only the following (with blanks filled as appropriate): 'That Congress approves the rule submitted by ___ relating to ___.'; and

“(D) is introduced pursuant to paragraph (2).

“(2) After a House of Congress receives a report classifying a rule as major pursuant to section 801(a)(1)(A)(iii), the majority leader of that House (or his or her respective designee) shall introduce (by request, if appropriate) a joint resolution described in paragraph (1) —

“(A) in the case of the House of Representatives, within 3 legislative days; and

“(B) in the case of the Senate, within 3 session days.

“(3) A joint resolution described in paragraph (1) shall not be subject to amendment at any stage of proceeding.

“(b) A joint resolution described in subsection (a) shall be referred in each House of Congress to the committees having jurisdiction over the provision of law under which the rule is issued.

“(c) In the Senate, if the committee or committees to which a joint resolution described in subsection (a) has been referred have not reported it at the end of 15 session days after its introduction, such committee or committees shall be automatically discharged from further consideration of the resolution and it shall be placed on the calendar. A vote on final passage of the resolution shall be taken on or before the close of the 15th session day after the resolution is reported by the committee or committees to which it was referred, or after such committee or committees have been discharged from further consideration of the resolution.

“(d)(1) In the Senate, when the committee or committees to which a joint resolution is referred have reported, or when a committee or committees are discharged (under subsection (c)) from further consideration of a joint resolution described in subsection (a), it is at any time thereafter in order (even though a previous motion to the same effect has been disagreed to) for a motion to proceed to the consideration of the joint resolution, and all points of order against the joint resolution (and against consideration of the joint resolution) are waived. The motion is not subject to amendment, or to a motion to postpone, or to a motion to proceed to the consideration of other business. A motion to reconsider the vote by which the motion is agreed to or disagreed to shall not be in order. If a motion to proceed to the consideration of the joint resolution is agreed to, the joint resolution shall remain the unfinished business of the Senate until disposed of.

“(2) In the Senate, debate on the joint resolution, and on all debatable motions and appeals in connection therewith, shall be limited to not more than 2 hours, which shall be divided equally between those favoring and those opposing the joint resolution. A motion to further limit debate is in order and not debatable. An amendment to, or a motion to postpone, or a motion to proceed to the consideration of other business, or a motion to recommit the joint resolution is not in order.

“(3) In the Senate, immediately following the conclusion of the debate on a joint resolution described in subsection (a), and a single quorum call at the conclusion of the debate if requested in accordance with the rules of the Senate, the vote on final passage of the joint resolution shall occur.

“(4) Appeals from the decisions of the Chair relating to the application of the rules of the Senate to the procedure relating to a joint resolution described in subsection (a) shall be decided without debate.

“(e) In the House of Representatives, if any committee to which a joint resolution described in subsection (a) has been referred has not reported it to the House at the end of 15 legislative days after its introduction, such committee shall be discharged from further consideration of the joint resolution, and it shall be placed on the appropriate calendar. On the second and fourth Thursdays of each month it shall be in order at any time for the Speaker to recognize a Member who favors passage of a joint resolution that has appeared on the calendar for at least 5 legislative days to call up that joint resolution for immediate consideration in the House without intervention of any point of order. When so called up a joint resolution shall be considered as read and shall be debatable for 1 hour equally divided and controlled by the proponent and an opponent, and the previous question shall be considered as ordered to its passage without intervening motion. It shall not be in order to reconsider the vote on passage. If a vote on final passage of the joint resolution has not been taken by the third Thursday on which the Speaker may recognize a Member under this subsection, such vote shall be taken on that day.

“(f)(1) If, before passing a joint resolution described in subsection (a), one House receives from the other a joint resolution having the same text, then —

“(A) the joint resolution of the other House shall not be referred to a committee; and

“(B) the procedure in the receiving House shall be the same as if no joint resolution had been received from the other House until the vote on passage, when the joint resolution received from the other House shall supplant the joint resolution of the receiving House.

“(2) This subsection shall not apply to the House of Representatives if the joint resolution received from the Senate is a revenue measure.

“(g) If either House has not taken a vote on final passage of the joint resolution by the last day of the period described in section 801(b)(2), then such vote shall be taken on that day.

“(h) This section and section 803 are enacted by Congress —

“(1) as an exercise of the rulemaking power of the Senate and House of Representatives, respectively, and as such are deemed to be part of the rules of each House, respectively, but applicable only with respect to the procedure to be followed in that House in the case of a joint resolution described in subsection (a) and superseding other rules only where explicitly so; and

“(2) with full recognition of the constitutional right of either House to change the rules (so far as they relate to the procedure of that House) at any time, in the same manner and to the same extent as in the case of any other rule of that House.

Ҥ803. Congressional disapproval procedure for nonmajor rules

“(a) For purposes of this section, the term 'joint resolution' means only a joint resolution introduced in the period beginning on the date on which the report referred to in section 801(a)(1)(A) is received by Congress and ending 60 days thereafter (excluding days either House of Congress is adjourned for more than 3 days during a session of Congress), the matter after the resolving clause of which is as follows: 'That Congress disapproves the nonmajor rule submitted by the ___ relating to ___, and such rule shall have no force or effect.' (The blank spaces being appropriately filled in).

“(b) A joint resolution described in subsection (a) shall be referred to the committees in each House of Congress with jurisdiction.

“(c) In the Senate, if the committee to which is referred a joint resolution described in subsection (a) has not reported such joint resolution (or an identical joint resolution) at the end of 15 session days after the date of introduction of the joint resolution, such committee may be discharged from further consideration of such joint resolution upon a petition supported in writing by 30 Members of the Senate, and such joint resolution shall be placed on the calendar.

“(d)(1) In the Senate, when the committee to which a joint resolution is referred has reported, or when a committee is discharged (under subsection (c)) from further consideration of a joint resolution described in subsection (a), it is at any time thereafter in order (even though a previous motion to the same effect has been disagreed to) for a motion to proceed to the consideration of the joint resolution, and all points of order against the joint resolution (and against consideration of the joint resolution) are waived. The motion is not subject to amendment, or to a motion to postpone, or to a motion to proceed to the consideration of other business. A motion to reconsider the vote by which the motion is agreed to or disagreed to shall not be in order. If a motion to proceed to the consideration of the joint resolution is agreed to, the joint resolution shall remain the unfinished business of the Senate until disposed of.

“(2) In the Senate, debate on the joint resolution, and on all debatable motions and appeals in connection therewith, shall be limited to not more than 10 hours, which shall be divided equally between those favoring and those opposing the joint resolution. A motion to further limit debate is in order and not debatable. An amendment to, or a motion to postpone, or a motion to proceed to the consideration of other business, or a motion to recommit the joint resolution is not in order.

“(3) In the Senate, immediately following the conclusion of the debate on a joint resolution described in subsection (a), and a single quorum call at the conclusion of the debate if requested in accordance with the rules of the Senate, the vote on final passage of the joint resolution shall occur.

“(4) Appeals from the decisions of the Chair relating to the application of the rules of the Senate to the procedure relating to a joint resolution described in subsection (a) shall be decided without debate.

“(e) In the Senate, the procedure specified in subsection (c) or (d) shall not apply to the consideration of a joint resolution respecting a nonmajor rule —

“(1) after the expiration of the 60 session days beginning with the applicable submission or publication date; or

“(2) if the report under section 801(a)(1)(A) was submitted during the period referred to in section 801(d)(1), after the expiration of the 60 session days beginning on the 15th session day after the succeeding session of Congress first convenes.

“(f) If, before the passage by one House of a joint resolution of that House described in subsection (a), that House receives from the other House a joint resolution described in subsection (a), then the following procedures shall apply:

“(1) The joint resolution of the other House shall not be referred to a committee.

“(2) With respect to a joint resolution described in subsection (a) of the House receiving the joint resolution —

“(A) the procedure in that House shall be the same as if no joint resolution had been received from the other House; but

“(B) the vote on final passage shall be on the joint resolution of the other House.

Ҥ804. Definitions

“For purposes of this chapter:

“(1) The term 'Federal agency' means any agency as that term is defined in section 551(1).

“(2) The term 'major rule' means any rule, including an interim final rule, that the Administrator of the Office of Information and Regulatory Affairs of the Office of Management and Budget finds has resulted in or is likely to result in —

“(A) an annual effect on the economy of $100 million or more;

“(B) a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies, or geographic regions; or

“(C) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets.

“(3) The term 'nonmajor rule' means any rule that is not a major rule.

“(4) The term 'rule' has the meaning given such term in section 551, except that such term does not include —

“(A) any rule of particular applicability, including a rule that approves or prescribes for the future rates, wages, prices, services, or allowances therefore, corporate or financial structures, reorganizations, mergers, or acquisitions thereof, or accounting practices or disclosures bearing on any of the foregoing;

“(B) any rule relating to agency management or personnel; or

“(C) any rule of agency organization, procedure, or practice that does not substantially affect the rights or obligations of non-agency parties.

“(5) The term 'submission or publication date', except as otherwise provided in this chapter, means —

“(A) in the case of a major rule, the date on which the Congress receives the report submitted under section 801(a)(1); and

“(B) in the case of a nonmajor rule, the later of —

“(i) the date of which the Congress receives the report submitted under section 801(a)(1); and

“(ii) the date on which the nonmajor rule is published in the Federal Register, if so published.

Ҥ805. Judicial review

“(a) No determination, finding, action, or omission under this chapter shall be subject to judicial review.

“(b) Notwithstanding subsection (a), a court may determine whether a Federal agency has completed the necessary requirements under this chapter for a rule to take effect.

“(c) The enactment of a joint resolution of approval under section 802 shall not be interpreted to serve as a grant or modification of statutory authority by Congress for the promulgation of a rule, shall not extinguish or affect any claim, whether substantive or procedural, against any alleged defect in a rule, and shall not form part of the record before the court in any judicial proceeding concerning a rule except for purposes of determining whether or not the rule is in effect.

Ҥ806. Exemption for monetary policy

“Nothing in this chapter shall apply to rules that concern monetary policy proposed or implemented by the Board of Governors of the Federal Reserve System or the Federal Open Market Committee.

Ҥ807. Effective date of certain rules

“Notwithstanding section 801 —

“(1) any rule that establishes, modifies, opens, closes, or conducts a regulatory program for a commercial, recreational, or subsistence activity related to hunting, fishing, or camping; or

“(2) any rule other than a major rule which an agency for good cause finds (and incorporates the finding and a brief statement of reasons therefore in the rule issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest, shall take effect at such time as the Federal agency promulgating the rule determines.".

SEC. 334. BUDGETARY EFFECTS OF RULES SUBJECT TO SECTION 802 OF TITLE 5, UNITED STATES CODE.

Section 257(b)(2) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 907(b)(2)) is amended by adding at the end the following new subparagraph:

“(E) BUDGETARY EFFECTS OF RULES SUBJECT TO SECTION 802 OF TITLE 5, UNITED STATES CODE. — Any rule subject to the congressional approval procedure set forth in section 802 of chapter 8 of title 5, United States Code, affecting budget authority, outlays, or receipts shall be assumed to be effective unless it is not approved in accordance with such section.".

SEC. 335. GOVERNMENT ACCOUNTABILITY OFFICE STUDY OF RULES.

(a) IN GENERAL. — The Comptroller General of the United States shall conduct a study to determine, as of the date of the enactment of this section —

(1) how many rules (as such term is defined in section 804 of title 5, United States Code) were in effect;

(2) how many major rules (as such term is defined in section 804 of title 5, United States Code) were in effect; and

(3) the total estimated economic cost imposed by all such rules.

(b) REPORT. — Not later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall submit a report to Congress that contains the findings of the study conducted under subsection (a).

DIVISION D — H.R. 1, THE LOWER ENERGY COSTS ACT

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SEC. 10022. SENSE OF CONGRESS EXPRESSING DISAPPROVAL OF THE PROPOSED TAX HIKES ON THE OIL AND NATURAL GAS INDUSTRY IN THE PRESIDENT'S FISCAL YEAR 2024 BUDGET REQUEST.

(a) FINDING. — Congress finds that President Biden's fiscal year 2024 budget request proposes to repeal tax provisions that are vital to the oil and natural gas industry of the United States, resulting in a $31,000,000,000 tax hike on oil and natural gas producers in the United States.

(b) SENSE OF CONGRESS. — It is the sense of Congress that Congress disapproves of the proposed tax hike on the oil and natural gas industry in the President's fiscal year 2024 budget request.