S. 2681
119th CONGRESS 1st Session
To amend the Internal Revenue Code of 1986 to extend the availability of certain clean energy credits.
IN THE SENATE OF THE UNITED STATES · August 2, 2025 · Sponsor: Mr. Schumer · Committee: Committee on Finance
Table of contents
SEC. 1. Short title
- This Act may be cited as the Lowering Electric Bills Act.
SEC. 2. Extension of certain clean energy credits
- (a) Residential clean energy credit
- (1) In general
- of the Internal Revenue Code of 1986, as amended by section 70506(a) of , is amended by striking
December 31, 2025and insertingDecember 31, 2034. Section 25D(h); Public Law 119–21
- of the Internal Revenue Code of 1986, as amended by section 70506(a) of , is amended by striking
- (2) Effective date
- The amendment made by this section shall take effect as if included in the enactment of section 70506 of . Public Law 119–21
- (1) In general
- (b) Clean electricity production credit
- (1) In general
- of the Internal Revenue Code of 1986, as amended by section 70512 of , is amended— Section 45Y; Public Law 119–21
- in subsection (d)—
- (i) in paragraph (1), by striking
Subject to paragraph (4), the amount ofand insertingThe amount of, and - (ii) by striking paragraphs (3) and (4) and inserting the following new paragraph:
- (3) Applicable year
- For purposes of this subsection, the term
applicable yearmeans the later of—- the calendar year in which the Secretary determines that the annual greenhouse gas emissions from the production of electricity in the United States are equal to or less than 25 percent of the annual greenhouse gas emissions from the production of electricity in the United States for calendar year 2022, or
- For purposes of this subsection, the term
- (3) Applicable year
- (i) in paragraph (1), by striking
- by striking subsection (h).
- in subsection (d)—
- of the Internal Revenue Code of 1986, as amended by section 70512 of , is amended— Section 45Y; Public Law 119–21
- (2) Effective date
- The amendments made by this section shall take effect as if included in the enactment of section 70512 of . Public Law 119–21
- (1) In general
- (c) Clean electricity investment credit
- (1) In general
- of the Internal Revenue Code of 1986, as amended by section 70513 of , is amended— Section 48E; Public Law 119–21
- in subsection (e)—
- (i) in paragraph (1), by striking
Subject to paragraph (4), the amount ofand insertingThe amount of, and - (ii) by striking paragraph (4),
- (i) in paragraph (1), by striking
- by striking subsection (i), and
- by redesignating subsection (j) as subsection (i).
- in subsection (e)—
- of the Internal Revenue Code of 1986, as amended by section 70513 of , is amended— Section 48E; Public Law 119–21
- (2) Effective date
- The amendments made by this section shall take effect as if included in the enactment of section 70513 of . Public Law 119–21
- (1) In general