,,ii  #aag? ,,congress  #a/ ,session    
,s4 #bbia  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #bd1 #bjba,mr4   
,c>d9 7= himself1 ,mr4 ,man*91 ,mr4     
,c>p]1 ,mr4 ,:iteh\se1 & ,mr4 ,book]7   
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to e/abli% a tax  
cr$it = production ( electricity us+    
nucle> p[]4  #a4 ,%ort title ,?is ,act  
may be cit$ z ! ,z]o-,emission ,nucle>  
,p[] ,production ,cr$it ,act ( #bjba4   
#b4 ,z]o-emission nucle> p[] production 
cr$it  7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv
 ( sub*apt] ,a ( *apt] #a ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3  #de,u4  
,z]o-emission nucle> p[] production     
cr$it  7a7 ,am\nt ( cr$it ,= purposes ( 
section #ch1 ! z]o-emission nucle> p[]  
production cr$it = any taxable ye> is an
 am\nt equal to ! am\nt by :i*-- 7#a7 ! 
product (-- 7,a7 #a4e c5ts1 multipli$ by
  7,b7 ! kil[att h\rs ( electricity--   

7i7 produc$ by ! taxpay] at a qualifi$  
nucle> p[] facility1 &  7ii7 sold by !  
taxpay] to an unrelat$ p]son dur+ !     
taxable ye>1 exce$s  7#b7 ! r$uction    
am\nt = su* taxable ye>4  7b7           
,def9itions  7#a7 ,qualifi$ nucle> p[]  
facility ,= purposes ( ?is section1 !   
t]m qualifi$ nucle> p[] facility means  
any nucle> facility-- 7,a7 :i* is own$  
by ! taxpay] & :i* uses nucle> en]gy to 
produce electricity1  7,b7 :i* is n     
describ$ 9 section #afh7;i77#aj71 &     
7,c7 :i* is n an advanc$ nucle> p[]     
facility1 z def9$ 9 subsection 7d77#a7 (
 section #de;,j1 or :i* has n receiv$ an
 allocation "u subsection 7b7 ( su*     
section4  7#b7 ,r$uction am\nt  7,a7 ,9 
g5]al ,= purposes ( ?is section1 ! t]m  
r$uction am\nt means1 ) respect to any  
qualifi$ nucle> p[] facility = any      
taxable ye>1 ! am\nt equal to ! less]   
(-- 7i7 ! am\nt det]m9$ "u subsection   
7a77#a71 or  7ii7 ! am\nt equal to #hj  
p]c5t ( ! excess (-- 7,i7 subject to    
subp>agraph 7,b71 ! gross receipts f any

 electricity produc$ by su* facility &  
sold to an unrelat$ p]son dur+ su*      
taxable ye>1 ov]  7,,ii7 ! am\nt equal  
to ! product (-- 7aa7 #b4e c5ts1        
multipli$ by  7bb7 ! am\nt det]m9$ "u   
subsection 7a77#a77;,b74  7,b7 ,treatm5t
 ( c]ta9 receipts  7i7 ,9 g5]al ,! am\nt
 det]m9$ "u subp>agraph 7,a77ii77,i7    
%all include any am\nt receiv$ by !     
taxpay] dur+ ! taxable ye> ) respect to 
! qualifi$ nucle> p[] facility f a      
z]o-emission cr$it program unless !     
am\nt receiv$ by ! taxpay] is subject to
 r$uction-- 7,i7 by ! full am\nt ( !    
cr$it det]m9$ "u ?is section1 or  7,,ii7
 by any less] am\nt if su* am\nt        
entirely (fsets ! am\nt receiv$ f a     
z]o-emission cr$it program4  7ii7       
,z]o-emission cr$it program ,= purposes 
( ?is subp>agraph1 ! t]m z]o-emission   
cr$it program means any ,/ate or local  
gov]nm5t program t provides paym5ts to a
 qualifi$ nucle> p[] facility =1 9 :ole 
or 9 "p1 ! z]o-emission1 z]o-c>bon1 or  
air quality attributes ( any portion ( !

 electricity produc$ by su* facility4   
7#c7 ,electricity ,= purposes ( ?is     
section 7) ! exception ( subsection     
7d77#c771 ! t]m electricity means !     
en]gy produc$ by a qualifi$ nucle> p[]  
facility f ! conv]sion ( nucle> fuel    
into electric p[]4  7c7 ,election =     
direct paym5t  7#a7 ,9 g5]al ,9 ! case (
 a taxpay] mak+ an election 7at su* "t &
 9 su* mann] z ! ,secret>y may provide7 
"u ?is subsection ) respect to any      
portion ( ! cr$it :i* w\ld 7)\t reg>d to
 ?is subsection7 be det]m9$ "u          
subsection 7a7 ) respect to su* taxpay]1
 su* taxpay] %all be treat$ z mak+ a    
paym5t aga9/ ! tax impos$ by subtitle ,a
 = ! taxable ye> equal to ! am\nt ( su* 
portion4  7#b7 ,tim+ ,! paym5t describ$ 
9 p>agraph 7#a7 %all be treat$ z made on
 ! lat] ( ! due date ( ! return ( tax = 
! taxable ye> or ! date on :i* su*      
return is fil$4  7#c7 ,exclusion f gross
 income ,gross income ( ! taxpay] %all  
be det]m9$ )\t reg>d to ?is subsection4 
7#d7 ,d5ial ( d\ble b5efit ,solely =    

purposes ( section #ch1 9 ! case ( a    
taxpay] mak+ an election "u ?is         
subsection1 ! cr$it det]m9$ "u          
subsection 7a7 %all be r$uc$ by ! am\nt 
( ! portion ( su* cr$it ) respect to :i*
 ! taxpay] makes su* election4  7#e7    
,exclusion ( tax-exempt entities ,?is   
subsection %all n apply to any entity   
describ$ 9 section #afh7;h77#b74  7d7   
,o!r rules  7#a7 ,inflation adju/m5t ,9 
! case ( cal5d> ye>s beg9n+ aft] #bjba1 
! #a4e c5t am\nt 9 subsection           
7a77#a77;,a7 & ! #b4e c5t am\nt 9       
subsection 7b77#b77;,a77ii77,,ii77aa7   
%all ea* be adju/$ by multiply+ su*     
am\nt by ! inflation adju/m5t factor 7z 
det]m9$ "u section #de7;e77#b71 z appli$
 by sub/itut+ cal5d> ye> #bjbj = cal5d> 
ye> #aiib 9 subp>agraph 7,b7 !re(7 = !  
cal5d> ye> 9 :i* ! sale occurs4 ,if any 
am\nt z increas$ "u ! prec$+ s5t5ce is n
 a multiple ( #j4a c5t1 su* am\nt %all  
be r\nd$ to ! ne>e/ multiple ( #j4a c5t4
  7#b7 ,special rules ,rules simil> to !
 rules ( p>agraphs 7#a71 7#c71 7#d71 &  

7#e7 ( section #de7;e7 %all apply =     
purposes ( ?is section4  7#c7 ,phase\t (
 cr$it ,if ! ,secret>y1 9 consultation )
 ! ,secret>y ( ,en]gy & ! ,adm9i/rator (
 ! ,environm5tal ,protection ,ag5cy1    
det]m9es t ! annual gre5h\se gas        
emissions f electricity production 9 !  
,unit$ ,/ates = a cal5d> ye> are equal  
to or less ?an #ej p]c5t ( ! annual     
gre5h\se gas emissions f electricity    
production 9 ! ,unit$ ,/ates = cal5d>   
ye> #bjbj1 ! am\nt ( ! cr$it det]m9$ "u 
! subsection 7a7 %all be r$uc$ by an    
am\nt equal to ! product (-- 7,a7 !     
am\nt ( cr$it det]m9$ "u ! subsection   
7a71 z det]m9$ be=e application ( ?is   
p>agraph1 multipli$ by  7,b7 an am\nt   
7express$ z a p]c5tage7 equal to twice !
 p]c5tage am\nt t ! p]c5tage det]m9$ by 
! ,secret>y pursuant to ?is p>agraph    
exce$s #ej p]c5t4  7#d7 ,ultimate       
pur*as] ,= purposes ( ?is section1      
electricity produc$ by ! taxpay] w be   
treat$ z sold to an unrelat$ p]son if ! 
ultimate pur*as] ( su* electricity is   

unrelat$ to su* taxpay]4  7e7 ,recapture
  7#a7 ,9 g5]al ,! ,secret>y1 9         
consultation ) ! ,secret>y ( ,en]gy & ! 
,secret>y ( ,labor1 %all1 by            
regulations1 provide = recaptur+ !      
b5efit ( any cr$it all[able "u          
subsection 7a7 = any taxable ye> if !   
,secret>y det]m9es t-- 7,a7 any         
contractor or subcontractor has fail$ to
 pay a labor] or me*anic employ$ by !   
contractor or subcontractor 9 ! p]=mance
 ( any con/ruction1 repair1 alt]ation1  
or ma9t5ance ) respect to ! qualifi$    
nucle> p[] facility dur+ su* taxable ye>
 wages at rates n less ?an ! rates      
prevail+ on projects ( a simil> "* 9 !  
locality z det]m9$ by ! ,secret>y (     
,labor 9 accordance ) sub*apt] ,,iv (   
*apt] #ca ( title #dj1 ,unit$ ,/ates    
,code1  7,b7 any su* contractor or      
subcontractor has fail$ to make !       
records requir$ "u p>agraph 7#b7        
available to ! ,secret>y = ! purposes   
describ$ 9 su* p>agraph1 or  7,c7 any   
contractor or subcontractor has fail$ to

 satisfy ! requirem5ts "u subsection 7f7
 dur+ su* taxable ye>4  7#b7            
,inve/igation ,^u receipt ( a compla9t  
or its own initiative1 ! ,secret>y1 9   
consultation ) ! ,secret>y ( ,en]gy & ! 
,secret>y ( ,labor1 %all reque/ & review
 ! payroll records ( contractors &      
subcontractors engag$ 9 ! p]=mance ( any
 con/ruction1 repair1 alt]ation1 or     
ma9t5ance ) respect to a qualifi$ nucle>
 p[] facility1 & int]view individuals   
employ$ by su* contractors &            
subcontractors1 to det]m9e :e!r !       
requirem5ts ( p>agraph 7#a77;,a7 &      
7#a77;,c7 h be5 met4  7#c7 ,adm9i/ration
 & en=cem5t ,) respect to ! adm9i/ration
 & en=cem5t ( ! /&>ds 9 p>agraph        
7#a77;,a7 & 7#a77;,c71 ! ,secret>y (    
,labor %all h ! au?ority & functions set
 =? 9 ,reorganization ,plan ,numb]$ #ad 
( #aiej 7#fd ,/at4 #abfg2 #e ,u4,s4,c4  
,app47 & section #cade ( title #dj1     
,unit$ ,/ates ,code4  7f7 ,use (        
qualifi$ appr5tices  7#a7 ,9 g5]al ,all 
contractors & subcontractors engag$ 9 ! 

p]=mance ( con/ruction1 repair1         
alt]ation1 or ma9t5ance ) respect to !  
qualifi$ nucle> p[] facility %all1      
subject to p>agraph 7#b71 ensure t n    
less ?an #ae p]c5t ( ! total labor h\rs 
( su* "w be p]=m$ by qualifi$           
appr5tices4  7#b7                       
,appr5tice-to-j\rneywork] ratio ,!      
requirem5t "u p>agraph 7#a7 %all be     
subject to any applicable requirem5ts = 
appr5tice-to-j\rneywork] ratios ( !     
,dep>tm5t ( ,labor or ! applicable ,/ate
 appr5tice%ip ag5cy4  7#c7 ,p>ticipation
 ,ea* contractor & subcontractor :o     
employs #d or m individuals to p]=m     
con/ruction1 repair1 alt]ation1 or      
ma9t5ance ) respect to ! qualifi$ nucle>
 p[] facility %all employ #a or m       
qualifi$ appr5tices to p]=m su* "w4     
7#d7 ,exception ,not)/&+ any o!r        
provision 9 ?is subsection1 ?is section 
%all n apply 9 ! case ( a taxpay] :o--  
7,a7 demon/rates a lack ( availability (
 qualifi$ appr5tices 9 ! geographic area
 ( ! con/ruction1 repair1 alt]ation1 or 

ma9t5ance2 &  7,b7 makes a good fai?    
ef=t1 & its contractors & subcontractors
 make a good fai? ef=t1 to comply ) !   
requirem5ts ( ?is subsection4  7#e7     
,def9itions ,9 ?is subsection3 7,a7     
,labor h\rs ,! t]m labor h\rs-- 7i7     
means ! total numb] ( h\rs devot$ to !  
p]=mance ( con/ruction1 repair1         
alt]ation1 or ma9t5ance by employees ( !
 contractor or subcontractor2 &  7ii7   
excludes any h\rs work$ by-- 7,i7 =em52 
7,,ii7 sup]9t5d5ts2  7,,iii7 own]s2 or  
7,,iv7 p]sons employ$ 9 a bona fide     
executive1 adm9i/rative1 or pr(essional 
capacity 7)9 ! mean+ ( ^? t]ms 9 "p #eda
 ( title #bi1 ,code ( ,f$]al            
,regulations74  7,b7 ,qualifi$ appr5tice
 ,! t]m qualifi$ appr5tice means an     
individual :o is an employee ( !        
contractor or subcontractor & :o is     
p>ticipat+ 9 a regi/]$ appr5tice%ip     
program1 z def9$ 9 section              
#caca7;e77#c77;,b74  7g7 ,t]m9ation ,?is
 section %all n apply to taxable ye>s   
beg9n+ aft] ,decemb] #ca1 #bjca4  4  7b7

 ,con=m+ am5dm5ts  7#a7 ,section #ch7;b7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$-- 7,a7 9 p>agraph 7#cb71 by /rik+ 
plus at ! end1  7,b7 9 p>agraph 7#cc71  
by /rik+ ! p]iod at ! end & ins]t+ 1    
plus1 &  7,c7 by add+ at ! end ! foll[+ 
new p>agraph3  7#cd7 ! z]o-emission     
nucle> p[] production cr$it det]m9$ "u  
section #de,u7a74  4  7#b7 ,! table (   
sections = subp>t ,d ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by add+ at ! end ! foll[+ new     
item3  ,sec4 #de,u4 ,z]o-emission nucle>
 p[] production cr$it4  4  7c7 ,report  
,n lat] ?an ,janu>y #a1 #bjbe1 !        
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all submit to ,congress a report )     
respect to ! cr$its all[$ = qualifi$    
nucle> p[] facilities "u section #de,u (
 ! ,int]nal ,rev5ue ,code ( #aihf 7z    
add$ by subsection 7a771 :i* %all       
include-- 7#a7 an evaluation ( !        
effectiv5ess ( ! cr$its all[$ "u su*    
section 9 reg>ds to ensur+ grid         
reliability :ile avoid+ emissions (     

c>bon dioxide1 nitrog5 oxides1 sulfur   
oxides1 p>ticulate matt]1 & haz>d\s air 
pollutants2  7#b7 a quantification ( !  
ratepay] sav+s a*iev$ z a result ( !    
cr$its all[$ "u su* section2 &  7#c7 any
 recomm5dations to r5ew or exp& ! cr$its
 all[$ "u su* section4  7d7 ,effective  
date ,?is section %all apply to         
electricity produc$ & sold aft] ,decemb]
 #ca1 #bjba1 9 taxable ye>s beg9n+ aft] 
su* date4