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".

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.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 18 November 2024

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• Introduced in House (PDF)

  Introduced in House · EN · 18 November 2024

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 18 November 2024

  Open at official source

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