,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #digj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #g1 #bjbj,mr4 
,"y 7= himself & ,mr4 ,:iteh\se7        
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to exp& ! r5ewable
 electricity production cr$it to include
 electricity produc$ f hydrog54  #a4    
,%ort title ,?is ,act may be cit$ z !   
,hydrog5 ,utilization & ,su/a9ability   
,act4  #b4 ,expansion ( r5ewable        
electricity production cr$it to include 
electricity produc$ f hydrog5  7a7 ,9   
g5]al ,section #de ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$-- 7#a7 9         
subsection 7c7-- 7,a7 9 p>agraph 7#a7-- 
7i7 9 subp>agraph 7,h71 by /rik+ & at ! 
end2  7ii7 9 subp>agraph 7,i71 by /rik+ 
! p]iod at ! end & ins]t+ 1 &2 &  7iii7 
by add+ at ! end ! foll[+ new           
subp>agraph3  7,j7 qualifi$ hydrog54  2 
&  7,b7 by add+ at ! end ! foll[+ new   
p>agraph3  7#aa7 ,qualifi$ hydrog5 ,!   

t]m qualifi$ hydrog5 means1 ) respect to
 any taxable ye>1 hydrog5 fuel :i* has  
be5 c]tifi$ prior to su* ye> by !       
,secret>y ( ,en]gy 79 consultation ) !  
,secret>y7 z hav+ non-positive c>bon    
int5sity1 z det]m9$ bas$ on a lifecycle 
analysis4  2 &  7#b7 9 subsection 7d71  
by add+ at ! end ! foll[+ new p>agraph3 
7#ab7 ,hydrog5 facility  7,a7 ,9 g5]al  
,9 ! case ( a facility us+ qualifi$     
hydrog5 to produce electricity1 ! t]m   
qualifi$ facility means any facility    
own$ by ! taxpay]-- 7i7 = :i* n less ?an
 #gj p]c5t ( ! electricity produc$ at   
su* facility dur+ any taxable ye> is    
attributable to ! use ( qualifi$        
hydrog51 &  7ii7 7,i7 ! con/ruction (   
:i* beg9s be=e ,janu>y #a1 #bjbb1 or    
7,,ii7 :i*-- 7aa7 0 orig9ally plac$ 9   
s]vice be=e ! date ( enactm5t ( ?is     
p>agraph &1 prior to ! modification     
describ$ 9 item 7bb71 did n use hydrog5 
to produce electricity1 &  7bb7 be=e    
,janu>y #a1 #bjbb1 is modifi$ to use    
qualifi$ hydrog5 to produce electricity4

  7,b7 ,modification ,= purposes (      
subp>agraph 7,a77ii77,,ii77bb71 a       
facility %all be treat$ z modifi$ be=e  
,janu>y #a1 #bjbb1 if ! con/ruction (   
su* modification beg9s be=e su* date4   
7,c7 ,election ,if ! own] ( ! facility  
describ$ 9 subp>agraph 7,a7 makes an    
election "u ?is subp>agraph 9 su* "t &  
mann] z ! ,secret>y may prescribe by    
regulations1 ! cr$it "u ?is section--   
7i7 %all be all[able to ! p]son t leases
 & op]ates su* facility1 &  7ii7 %all n 
be all[able to ! own] ( su* facility4   
7,d7 ,special rules  7i7 ,exclusion (   
electricity n produc$ f qualifi$ hydrog5
 ,= purposes ( subsection 7a77#b71 !    
total am\nt ( kil[att h\rs ( electricity
 produc$ by ! taxpay] at a qualifi$     
facility describ$ 9 subp>agraph 7,a7 =  
any taxable ye> %all be equal to !      
product (-- 7,i7 ! total am\nt ( kil[att
 h\rs ( electricity produc$ by ! taxpay]
 at su* facility = su* taxable ye>1     
multipli$ by  7,,ii7 an am\nt equal to !
 quoti5t (-- 7aa7 ! am\nt ( qualifi$    

hydrog5 us$ at su* facility to produce  
su* electricity 7z det]m9$ on ! basis ( 
,btu cont5t71 divid$ by  7bb7 ! total   
am\nt ( fuel us$ at su* facility to     
produce su* electricity 7z det]m9$ on ! 
basis ( ,btu cont5t74  7ii7 ,adju/m5t = 
negative c>bon int5sity  7,i7 ,9 g5]al  
,= purposes ( subsection 7a77#b71 !     
total am\nt ( kil[att h\rs ( electricity
 produc$ by ! taxpay] at a qualifi$     
facility describ$ 9 subp>agraph 7,a7 =  
any taxable ye> 7z det]m9$ aft]         
application ( clause 7i77 %all be       
increas$ by an am\nt equal to !         
applicable p]c5tage ( su* total am\nt4  
7,,ii7 ,applicable p]c5tage ,= purposes 
( subclause 7,i71 ! applicable p]c5tage 
= a qualifi$ facility = any taxable ye> 
is ! am\nt 7express$ z a p]c5tage7 equal
 to ! product (-- 7aa7 #a p]c5tage po9t1
 multipli$ by  7bb7 an am\nt equal to ! 
quoti5t (-- 7,,aa7 ! total am\nt ( c>bon
 dioxide 7express$ 9 metric tons7 :i* is
 remov$ f ! atmosph]e dur+ su* taxable  
ye> ?r\gh ! use ( qualifi$ hydrog5 7z   

det]m9$ pursuant to a c]tification (    
negative c>bon int5sity = su* hydrog5 "u
 subsection 7c77#aa77 at su* qualifi$   
facility1 divid$ by 7,,bb7 #a1jjj4  4   
7b7 ,effective date ,! am5dm5ts made by 
?is section %all take effect on ! date (
 enactm5t ( ?is ,act4