,,ii #aagth ,,congress #ast ,session ,s4 #bbia ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #bd1 #bjba,mr4 ,cardin 7for himself1 ,mr4 ,manchin1 ,mr4 ,carper1 ,mr4 ,whitehouse1 and ,mr4 ,booker7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to establish a tax credit for production of electricity using nuclear power4 #a4 ,short title ,this ,act may be cited as the ,zero-,emission ,nuclear ,power ,production ,credit ,act of #bjba4 #b4 ,zero-emission nuclear power production credit 7a7 ,in general ,subpart ,d of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new section3 #de,u4 ,zero-emission nuclear power production credit 7a7 ,amount of credit ,for purposes of section #ch1 the zero-emission nuclear power production credit for any taxable year is an amount equal to the amount by which-- 7#a7 the product of-- 7,a7 #a4e cents1 multiplied by 7,b7 the kilowatt hours of electricity-- 7i7 produced by the taxpayer at a qualified nuclear power facility1 and 7ii7 sold by the taxpayer to an unrelated person during the taxable year1 exceeds 7#b7 the reduction amount for such taxable year4 7b7 ,definitions 7#a7 ,qualified nuclear power facility ,for purposes of this section1 the term qualified nuclear power facility means any nuclear facility-- 7,a7 which is owned by the taxpayer and which uses nuclear energy to produce electricity1 7,b7 which is not described in section #afh7;i77#aj71 and 7,c7 which is not an advanced nuclear power facility1 as defined in subsection 7d77#a7 of section #de;,j1 or which has not received an allocation under subsection 7b7 of such section4 7#b7 ,reduction amount 7,a7 ,in general ,for purposes of this section1 the term reduction amount means1 with respect to any qualified nuclear power facility for any taxable year1 the amount equal to the lesser of-- 7i7 the amount determined under subsection 7a77#a71 or 7ii7 the amount equal to #hj percent of the excess of-- 7,i7 subject to subparagraph 7,b71 the gross receipts from any electricity produced by such facility and sold to an unrelated person during such taxable year1 over 7,,ii7 the amount equal to the product of-- 7aa7 #b4e cents1 multiplied by 7bb7 the amount determined under subsection 7a77#a77;,b74 7,b7 ,treatment of certain receipts 7i7 ,in general ,the amount determined under subparagraph 7,a77ii77,i7 shall include any amount received by the taxpayer during the taxable year with respect to the qualified nuclear power facility from a zero-emission credit program unless the amount received by the taxpayer is subject to reduction-- 7,i7 by the full amount of the credit determined under this section1 or 7,,ii7 by any lesser amount if such amount entirely offsets the amount received from a zero-emission credit program4 7ii7 ,zero-emission credit program ,for purposes of this subparagraph1 the term zero-emission credit program means any ,state or local government program that provides payments to a qualified nuclear power facility for1 in whole or in part1 the zero-emission1 zero-carbon1 or air quality attributes of any portion of the electricity produced by such facility4 7#c7 ,electricity ,for purposes of this section 7with the exception of subsection 7d77#c771 the term electricity means the energy produced by a qualified nuclear power facility from the conversion of nuclear fuel into electric power4 7c7 ,election for direct payment 7#a7 ,in general ,in the case of a taxpayer making an election 7at such time and in such manner as the ,secretary may provide7 under this subsection with respect to any portion of the credit which would 7without regard to this subsection7 be determined under subsection 7a7 with respect to such taxpayer1 such taxpayer shall be treated as making a payment against the tax imposed by subtitle ,a for the taxable year equal to the amount of such portion4 7#b7 ,timing ,the payment described in paragraph 7#a7 shall be treated as made on the later of the due date of the return of tax for the taxable year or the date on which such return is filed4 7#c7 ,exclusion from gross income ,gross income of the taxpayer shall be determined without regard to this subsection4 7#d7 ,denial of double benefit ,solely for purposes of section #ch1 in the case of a taxpayer making an election under this subsection1 the credit determined under subsection 7a7 shall be reduced by the amount of the portion of such credit with respect to which the taxpayer makes such election4 7#e7 ,exclusion of tax-exempt entities ,this subsection shall not apply to any entity described in section #afh7;h77#b74 7d7 ,other rules 7#a7 ,inflation adjustment ,in the case of calendar years beginning after #bjba1 the #a4e cent amount in subsection 7a77#a77;,a7 and the #b4e cent amount in subsection 7b77#b77;,a77ii77,,ii77aa7 shall each be adjusted by multiplying such amount by the inflation adjustment factor 7as determined under section #de7;e77#b71 as applied by substituting calendar year #bjbj for calendar year #aiib in subparagraph 7,b7 thereof7 for the calendar year in which the sale occurs4 ,if any amount as increased under the preceding sentence is not a multiple of #j4a cent1 such amount shall be rounded to the nearest multiple of #j4a cent4 7#b7 ,special rules ,rules similar to the rules of paragraphs 7#a71 7#c71 7#d71 and 7#e7 of section #de7;e7 shall apply for purposes of this section4 7#c7 ,phaseout of credit ,if the ,secretary1 in consultation with the ,secretary of ,energy and the ,administrator of the ,environmental ,protection ,agency1 determines that the annual greenhouse gas emissions from electricity production in the ,united ,states for a calendar year are equal to or less than #ej percent of the annual greenhouse gas emissions from electricity production in the ,united ,states for calendar year #bjbj1 the amount of the credit determined under the subsection 7a7 shall be reduced by an amount equal to the product of-- 7,a7 the amount of credit determined under the subsection 7a71 as determined before application of this paragraph1 multiplied by 7,b7 an amount 7expressed as a percentage7 equal to twice the percentage amount that the percentage determined by the ,secretary pursuant to this paragraph exceeds #ej percent4 7#d7 ,ultimate purchaser ,for purposes of this section1 electricity produced by the taxpayer will be treated as sold to an unrelated person if the ultimate purchaser of such electricity is unrelated to such taxpayer4 7e7 ,recapture 7#a7 ,in general ,the ,secretary1 in consultation with the ,secretary of ,energy and the ,secretary of ,labor1 shall1 by regulations1 provide for recapturing the benefit of any credit allowable under subsection 7a7 for any taxable year if the ,secretary determines that-- 7,a7 any contractor or subcontractor has failed to pay a laborer or mechanic employed by the contractor or subcontractor in the performance of any construction1 repair1 alteration1 or maintenance with respect to the qualified nuclear power facility during such taxable year wages at rates not less than the rates prevailing on projects of a similar character in the locality as determined by the ,secretary of ,labor in accordance with subchapter ,,iv of chapter #ca of title #dj1 ,united ,states ,code1 7,b7 any such contractor or subcontractor has failed to make the records required under paragraph 7#b7 available to the ,secretary for the purposes described in such paragraph1 or 7,c7 any contractor or subcontractor has failed to satisfy the requirements under subsection 7f7 during such taxable year4 7#b7 ,investigation ,upon receipt of a complaint or its own initiative1 the ,secretary1 in consultation with the ,secretary of ,energy and the ,secretary of ,labor1 shall request and review the payroll records of contractors and subcontractors engaged in the performance of any construction1 repair1 alteration1 or maintenance with respect to a qualified nuclear power facility1 and interview individuals employed by such contractors and subcontractors1 to determine whether the requirements of paragraph 7#a77;,a7 and 7#a77;,c7 have been met4 7#c7 ,administration and enforcement ,with respect to the administration and enforcement of the standards in paragraph 7#a77;,a7 and 7#a77;,c71 the ,secretary of ,labor shall have the authority and functions set forth in ,reorganization ,plan ,numbered #ad of #aiej 7#fd ,stat4 #abfg2 #e ,u4,s4,c4 ,app47 and section #cade of title #dj1 ,united ,states ,code4 7f7 ,use of qualified apprentices 7#a7 ,in general ,all contractors and subcontractors engaged in the performance of construction1 repair1 alteration1 or maintenance with respect to the qualified nuclear power facility shall1 subject to paragraph 7#b71 ensure that not less than #ae percent of the total labor hours of such work be performed by qualified apprentices4 7#b7 ,apprentice-to-journeyworker ratio ,the requirement under paragraph 7#a7 shall be subject to any applicable requirements for apprentice-to-journeyworker ratios of the ,department of ,labor or the applicable ,state apprenticeship agency4 7#c7 ,participation ,each contractor and subcontractor who employs #d or more individuals to perform construction1 repair1 alteration1 or maintenance with respect to the qualified nuclear power facility shall employ #a or more qualified apprentices to perform such work4 7#d7 ,exception ,notwithstanding any other provision in this subsection1 this section shall not apply in the case of a taxpayer who-- 7,a7 demonstrates a lack of availability of qualified apprentices in the geographic area of the construction1 repair1 alteration1 or maintenance2 and 7,b7 makes a good faith effort1 and its contractors and subcontractors make a good faith effort1 to comply with the requirements of this subsection4 7#e7 ,definitions ,in this subsection3 7,a7 ,labor hours ,the term labor hours-- 7i7 means the total number of hours devoted to the performance of construction1 repair1 alteration1 or maintenance by employees of the contractor or subcontractor2 and 7ii7 excludes any hours worked by-- 7,i7 foremen2 7,,ii7 superintendents2 7,,iii7 owners2 or 7,,iv7 persons employed in a bona fide executive1 administrative1 or professional capacity 7within the meaning of those terms in part #eda of title #bi1 ,code of ,federal ,regulations74 7,b7 ,qualified apprentice ,the term qualified apprentice means an individual who is an employee of the contractor or subcontractor and who is participating in a registered apprenticeship program1 as defined in section #caca7;e77#c77;,b74 7g7 ,termination ,this section shall not apply to taxable years beginning after ,december #ca1 #bjca4 4 7b7 ,conforming amendments 7#a7 ,section #ch7;b7 of the ,internal ,revenue ,code of #aihf is amended-- 7,a7 in paragraph 7#cb71 by striking plus at the end1 7,b7 in paragraph 7#cc71 by striking the period at the end and inserting 1 plus1 and 7,c7 by adding at the end the following new paragraph3 7#cd7 the zero-emission nuclear power production credit determined under section #de,u7a74 4 7#b7 ,the table of sections for subpart ,d of part ,,iv of subchapter ,a of chapter #a of such ,code is amended by adding at the end the following new item3 ,sec4 #de,u4 ,zero-emission nuclear power production credit4 4 7c7 ,report ,not later than ,january #a1 #bjbe1 the ,comptroller ,general of the ,united ,states shall submit to ,congress a report with respect to the credits allowed for qualified nuclear power facilities under section #de,u of the ,internal ,revenue ,code of #aihf 7as added by subsection 7a771 which shall include-- 7#a7 an evaluation of the effectiveness of the credits allowed under such section in regards to ensuring grid reliability while avoiding emissions of carbon dioxide1 nitrogen oxides1 sulfur oxides1 particulate matter1 and hazardous air pollutants2 7#b7 a quantification of the ratepayer savings achieved as a result of the credits allowed under such section2 and 7#c7 any recommendations to renew or expand the credits allowed under such section4 7d7 ,effective date ,this section shall apply to electricity produced and sold after ,december #ca1 #bjba1 in taxable years beginning after such date4