,,ii  #aah? ,,congress  #a/ ,session    
,s4 #agic  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #a1 #bjbc ,mr4   
,he9ri* 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$it = in/allation ( regionally        
significant electric p[] transmission   
l9es4  #a4 ,%ort title ,?is ,act may be 
cit$ z ! ,grid ,resili5cy ,tax ,cr$it4  
#b4 ,f9d+s ,congress f9ds ! foll[+3     
7#a7 ,a robu/ electric p[] transmission 
sy/em is critical to ! economic1 en]gy1 
& national security ( ! ,unit$ ,/ates4  
7#b7 ,! electric grid faces *all5ges f  
ag+ infra/ructure & a ne$ = increas$    
electric p[] transmission capacity4     
7#c7 ,! ,unit$ ,/ates faces a press+ ne$
 to exp& electric p[] transmission4     
7#d7 ,electric p[] transmission         
inve/m5ts w--  7,a7 improve resili5ce by
 enabl+ access to div]se g5]ation       
res\rces across ! c\ntry2  7,b7 promote 
economic b5efits & create new jobs 9    

communities across ! c\ntry2 &  7,c7    
enhance electric grid reliability4  #c4 
,e/abli%m5t ( electric p[] transmission 
l9es  7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv 
( sub*apt] ,a ( *apt] #a ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #dh;,e ! foll[+ new       
section3  #dh;,f4 ,qualify+ electric p[]
 transmission l9e cr$it  7a7 ,all[ance (
 cr$it ,= purposes ( section #df1 !     
qualify+ electric p[] transmission l9e  
cr$it = any taxable ye> is an am\nt     
equal to #cj p]c5t ( ! qualifi$ inve/m5t
 = su* taxable ye> ) respect to any     
qualify+ electric p[] transmission l9e  
prop]ty ( ! taxpay]4  7b7 ,qualify+     
inve/m5t  7#a7 ,9 g5]al ,= purposes (   
subsection 7a71 ! qualifi$ inve/m5t =   
any taxable ye> is ! basis ( any        
qualify+ electric p[] transmission l9e  
prop]ty plac$ 9 s]vice by ! taxpay] dur+
 su* taxable ye>4  7#b7 ,c]ta9 qualifi$ 
progress exp5ditures rules made         
applicable ,rules simil> to ! rules (   
subsections 7c77#d7 & 7d7 ( section #df 

7z 9 effect on ! day be=e ! enactm5t ( !
 ,rev5ue ,reconciliation ,act ( #aiij7  
%all apply = purposes ( ?is section4    
7c7 ,qualify+ electric p[] transmission 
l9e prop]ty ,= purposes ( ?is section1 !
 t]m qualify+ electric p[] transmission 
l9e prop]ty means any ov]head1 subm>9e1 
or und]gr\nd prop]ty--  7#a7 :i* is a   
qualify+ electric p[] transmission l9e t
 transmits electricity-- 7,a7 across n  
less ?an #b ,/ates or n less ?an #aej   
cont9u\s miles1 or  7,b7 across ! ,out] 
,cont95tal ,%elf 7z def9$ 9 section #b (
 ! ,out] ,cont95tal ,l&s ,act 7#dc      
,u4,s4,c4 #acca771 or  7#b7 :i* is      
relat$ transmission prop]ty4  7d7       
,qualify+ electric p[] transmission l9e 
,= purposes ( ?is section-- 7#a7 ,9     
g5]al ,! t]m qualify+ electric p[]      
transmission l9e means any ( ! foll[+3  
7,a7 ,new transmission prop]ty  7i7 ,9  
g5]al ,any electric p[] transmission l9e
 :i* is-- 7,i7 orig9ally plac$ 9 s]vice 
aft] ! date ( enactm5t ( ?is section1   
7,,ii7 prim>ily us$ = "o or m purposes  

describ$ 9 clause 7ii71 &  7,,iii7      
describ$ 9 clause 7iv74  7ii7 ,purposes 
describ$ ,! purposes describ$ 9 ?is     
clause are-- 7,i7 enhanc+ resili5ce to  
prep>e =1 )/&1 & recov] rapidly f       
disruptions f ! impact ( wea!r ev5ts1   
wildfires1 or natural disa/]s1  7,,ii7  
address+ cle>ance conc]ns1  7,,iii7     
facilitat+ ! int]connection ( electric  
g5]ation capacity to ! bulk-p[] sy/em 7z
 def9$ 9 section #bae ( ! ,f$]al ,p[]   
,act71 or  7,,iv7 address+ high load    
ne$s ( #b1jjj amp]e & above4  7iii7     
,multiple transmission l9es locat$ 9 !  
same "r-(-way ,a transmission l9e is    
describ$ 9 ?is clause if su* a          
transmission l9e--  7,i7 is co-locat$ 9 
! same "r-(-way or adjac5t "r-(-way z "o
 or m o!r ov]head1 subm>9e1 or und]gr\nd
 transmission l9es1 &  7,,ii7 toge!r ) !
 o!r transmission l9es describ$ 9       
subclause 7,i71 has a transmission      
capacity ( n less ?an #a1jjj megawatts4 
7iv7 ,additional requirem5ts = new      
transmission prop]ty ,an electric p[]   

transmission l9e is describ$ 9 ?is      
clause if-- 7,i7 su* transmission l9e-- 
7aa7 includes an advanc$ transmission   
conductor1 &  7bb7 is capable (         
transmitt+ electricity at a voltage ( n 
less ?an #ajj kilovolts1 or  7,,ii7 su* 
transmission l9e-- 7aa7 is-- 7,,aa7     
capable ( transmitt+ electricity at a   
voltage ( n less ?an #cde kilovolts1 or 
7,,bb7 a sup]conduct+ transmission l9e1 
&  7bb7 has a transmission capacity ( n 
less ?an #gej megawatts or is a         
transmission l9e describ$ 9 clause      
7iii74  7,b7 ,modification ( exi/+      
transmission prop]ty ,any electric p[]  
transmission l9e :i*--  7i7 0 plac$ 9   
s]vice be=e ! date ( ! enactm5t ( ?is   
section1  7ii7 is modifi$ aft] ! date ( 
! enactm5t ( ?is ,act 9 a mann] t       
increases ! transmission capacity ( su* 
transmission l9e by n less ?an #ejj     
megawatts1 &  7iii7 aft] ! completion ( 
su* modification1 is an electric p[]    
transmission l9e :i* satisfies !        
requirem5ts "u subclauses 7,,ii7 &      

7,,iii7 ( subp>agraph 7,a77i74  7#b7    
,advanc$ transmission conductor ,! t]m  
advanc$ transmission conductor means a  
transmission conductor te*nology t uses 
rec5tly develop$ te*nology or mat]ials  
su* z a composite core & su* o!r future 
advances z det]m9$ by ! ,secret>y1 9    
consultation ) ! ,secret>y ( ,en]gy4    
7#c7 ,sup]conduct+ transmission l9e ,!  
t]m sup]conduct+ transmission l9e means 
a transmission l9e t conducts all ( its 
curr5t ov] a sup]-conduct+ mat]ial4  7e7
 ,relat$ transmission prop]ty ,=        
purposes ( ?is section--  7#a7 ,9 g5]al 
,! t]m relat$ transmission prop]ty means
 any ( ! foll[+3 7,a7 ,transmission     
prop]ty us$ = int]connection or g5]ator 
tie-l9e ,any electric p[] transmission  
l9e :i* is--  7i7 plac$ 9 s]vice aft] ! 
date ( enactm5t ( ?is section1  7ii7    
prim>ily us$--  7,i7 z a g5]ator        
int]connection tie l9e at an associat$  
facility t ext5ds f ! second>y 7high7   
side ( a g5]ator /ep-up trans=m] to !   
po9t ( int]connection ) ! ho/           

transmission own] f int]connect+ new    
g5]ation res\rces or facilities to !    
electric grid1 or  7,,ii7 = network     
upgrades associat$ ) ! int]connection ( 
new g5]ation res\rces or facilities to !
 electric grid1  7iii7 prim>ily us$ = "o
 or m purposes describ$ 9 subp>agraph   
7d77#a77;,a77ii71 &  7iv7 capable (     
transmitt+ electricity at a voltage ( n 
less ?an #bcj kilovolts4  7,b7 ,grid    
enhanc+ te*nology ,any grid enhanc+     
te*nology prop]ty us$ 9 ! op]ation ( !  
electric p[] transmission l9e describ$ 9
 subp>agraph 7,a7 or 7,b7 ( subsection  
7d77#a74  7,c7 ,subcompon5ts ,any       
conductors or cables1 t[]s1 insulators1 
reactors1 capacitors1 circuit break]s1  
/atic ,,v> comp5sators1 /atic syn*ron\s 
comp5sators1 p[] conv]t]s1 trans=m]s1   
syn*ron\s cond5s]s1 brak+ resi/ors1 &   
any ancill>y facilities & equipm5t      
necess>y = ! prop] op]ation ( ! electric
 transmission l9e describ$ 9 subp>agraph
 7,a7 or 7,b7 ( subsection 7d77#a7 or = 
! prop] op]ation ( any prop]ty describ$ 

9 subsection 7#a77;,a74  7#b7 ,grid     
enhanc+ te*nology prop]ty ,! t]m grid   
enhanc+ te*nology prop]ty means p[] fl[ 
controls & transmission swit*+ equipm5t1
 /orage te*nology1 & h>dw>e or s(tw>e t 
enables dynamic l9e rat+s1 advanc$ l9e  
rat+ managem5t te*nologies1 on new or   
exi/+ transmission prop]ty = ! purpose (
 enhanc+ ! capacity1 effici5cy1         
resili5cy1 or reliability ( an electric 
p[] transmission sy/em & su* o!r simil> 
prop]ty det]m9$ by ! ,secret>y1 9       
consultation ) ! ,secret>y ( ,en]gy4    
7f7 ,t]m9ation ,?is section %all n apply
 to any prop]ty ! con/ruction ( :i*     
beg9s aft] ,decemb] #ca1 #bjcc4  4  7b7 
,public utility prop]ty ,p>agraph 7#b7 (
 section #ej7;d7 ( ! ,int]nal ,rev5ue   
,code is am5d$-- 7#a7 by /rik+ 7z def9$ 
9 section #dh7;c77#f77 & ins]t+ 7z def9$
 9 section #dh7;c77#f71 except t        
subp>agraph 7,d7 ( su* section %all n   
apply7 or any qualify+ electric p[]     
transmission l9e prop]ty 7z def9$ by    
section #dh;,f7c771 &  7#b7 9           

subp>agraph 7,b7-- 7,a7 by ins]t+ or    
qualify+ electric transmission l9e      
prop]ty aft] ea* en]gy /orage te*nology1
 &  7,b7 by ins]t+ or ! qualify+        
electric transmission l9e prop]ty aft] !
 en]gy /orage te*nology4  7c7 ,transf] (
 c]ta9 cr$its ,section                  
#fdah7;f77#a77;,a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by add+ ! foll[+ 
new clause3  7xii7 ,! qualify+ electric 
p[] transmission l9e cr$it "u section   
#dh;,f4  4  7d7 ,con=m+ am5dm5ts  7#a7  
,section #df ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$--  7,a7 by /rik+ & at !
 end ( p>agraph 7#f71  7,b7 by /rik+ !  
p]iod at ! end ( p>agraph 7#g7 & ins]t+ 
1 &1 &  7,c7 by add+ at ! end ! foll[+  
new p>agraph3  7#h7 ! qualify+ electric 
p[] transmission l9e cr$it4  4  7#b7    
,section #di7;a77#a77;,c7 ( su* ,code is
 am5d$-- 7,a7 by /rik+ & at ! end (     
clause 7vii71  7,b7 by /rik+ ! p]iod at 
! end ( clause 7viii7 & ins]t+ 1 &1 &   
7,c7 by add+ at ! end ! foll[+ new      
clause3  7ix7 ! basis ( any qualify+    

electric p[] transmission l9e prop]ty "u
 section #dh;,f4  4  7#c7 ,! table (    
sections = subp>t ,e ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by ins]t+ aft] ! item relat+ to   
section #dh;,e ! foll[+ new item3  ,sec4
 #dh;,f4 ,qualify+ electric p[]         
transmission l9e cr$it4  4  7e7         
,effective date ,! am5dm5ts made by ?is 
section %all apply to prop]ty plac$ 9   
s]vice aft] ,decemb] #ca1 #bjbc4