S. 510: Financing Our Energy Future Act

119th Congress · introduced 2025-02-11 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Official title

Financing Our Energy Future Act

Plain summary

Financing Our Energy Future Act This bill allows a publicly traded partnership to derive income from certain clean energy-related activities and still be treated as a partnership for federal income tax purposes. As background, a publicly traded partnership is a partnership whose interests are traded on an established securities market (or readily tradable on a secondary market). A publicly traded partnership generally is treated as a corporation for federal income tax purposes unless 90% or more of such partnership’s gross income is qualifying income. Under current law, qualifying income includes interest and dividends; real property rents; gain from the sale (or disposition) of real property; income from certain activities related to minerals and natural resources, source carbon dioxide, and the transportation or storage of certain fuels; and gain from the sale (or disposition) of a capital asset or commodities. Under the bill, the qualifying income is expanded to include income derived from electric power (or thermal energy) generated from renewable energy sources (e.g., wind and solar energy), qualified gasification projects, or advanced nuclear facilities; accepting or processing open-loop biomass or municipal solid waste (by certain facilities); the storage of electric power or thermal energy using certain energy storage technology; the generation, storage, or distribution of electric power (or thermal energy) using combined heat and power system property; fuels that use certain carbon oxides as primary feedstock; certain renewable chemicals; transportation or storage of liquefied or compressed hydrogen; the conversion of renewable biomass; and certain carbon capture and sequestration facilities.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

Financing Our Energy Future Act

Source: Congressional Research Service summary (Introduced in Senate)

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Officials and money

Sponsor: Sen. Moran, Jerry [R-KS] · 11 cosponsors

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Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119s510.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/s>

Record fed-us-cong119-s510 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills