Energy Opportunity Zones Act of 2020 This bill designates energy opportunity zones for areas that are within 120 miles of a nuclear or coal power plant used to generate electricity that has ceased operations or is scheduled to cease operations within 6 years, or areas that can demonstrate how changes in the nuclear or coal economy have resulted or may result in job losses. The bill modifies or extends the new energy efficient home tax credit, the nonbusiness energy property tax credit, the investment tax credit, and the tax credit for production of electricity, and establishes a new tax credit for offshore wind and energy storage. The bill also extends through 2050 the tax deduction for energy efficient commercial buildings.
Administrative law and regulatory proceduresAlternative and renewable resourcesBuilding constructionBusiness investment and capitalDepartment of the TreasuryEconomic developmentElectric power generation and transmissionEnergy efficiency and conservationEnvironmental technologyGreat LakesIncome tax creditsLighting, heating, coolingMarine and coastal resources, fisheriesNuclear powerOil and gasResidential rehabilitation and home repair
Energy Opportunity Zones Act of 2020
USA116th CongressHR-8530| House
| Updated: 10/6/2020
Energy Opportunity Zones Act of 2020 This bill designates energy opportunity zones for areas that are within 120 miles of a nuclear or coal power plant used to generate electricity that has ceased operations or is scheduled to cease operations within 6 years, or areas that can demonstrate how changes in the nuclear or coal economy have resulted or may result in job losses. The bill modifies or extends the new energy efficient home tax credit, the nonbusiness energy property tax credit, the investment tax credit, and the tax credit for production of electricity, and establishes a new tax credit for offshore wind and energy storage. The bill also extends through 2050 the tax deduction for energy efficient commercial buildings.
Administrative law and regulatory proceduresAlternative and renewable resourcesBuilding constructionBusiness investment and capitalDepartment of the TreasuryEconomic developmentElectric power generation and transmissionEnergy efficiency and conservationEnvironmental technologyGreat LakesIncome tax creditsLighting, heating, coolingMarine and coastal resources, fisheriesNuclear powerOil and gasResidential rehabilitation and home repair