H.J.Res. 225 · 118th Congress · House

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Advanced Manufacturing Production Credit".

Active· Referred to the House Committee on Ways and Means.
Introduced
Nov 20, 24
Passed House
Pending
Passed Senate
Pending
Sent to President
Pending
Signed into Law
Pending

Executive Summary

This joint resolution nullifies the final rule issued by the Internal Revenue Service titled Advanced Manufacturing Production Credit and published on October 28, 2024. The final rule provides guidance on the tax credit for the production and sale of solar and wind components, inverters, some battery components, and critical minerals, which was added by the Inflation Reduction Act of 2022. The rule, among other things, defines what produced by the taxpayer means for purposes of determining eligibility for the tax credit, details the requirements regarding sales between related and unrelated parties, and provides credit amounts and phase-out rules for certain components and critical minerals.

Action Timeline

3
  1. NOV 20, 2024IntroReferral

    Introduced in House

  2. NOV 20, 2024IntroReferral

    Introduced in House

  3. NOV 20, 2024IntroReferral

    Referred to the House Committee on Ways and Means.

Committees

1

Ways and Means Committee

hswm00

Referred: Nov 20, 2024

Active