Install
CIRCUIT Act
A bill to amend the Internal Revenue Code of 1986 to expand the advanced manufacturing production credit to include distribution transformers.
- Introduced
- Committee
- Passed Senate
- Passed House
- To President
- Became law
Summary
Credit Incentives for Resilient Critical Utility Infrastructure and Transformers Act or the CIRCUIT Act
This bill expands the advanced manufacturing production tax credit to include up to 10% of the cost to produce transformers that have an input voltage of 34.5 kilovolts or less, have an output voltage of 600 volts or less, and are rated for operation at a frequency of 60 hertz (i.e., distribution transformers).
As background, the advanced manufacturing production tax credit (part of the general business tax credit) allows a tax credit for certain component parts (e.g., battery cells, solar modules, and inverters) and critical minerals (e.g., aluminum, lithium, and nickel) that are produced in the United States or a U.S. possession and sold generally to an unrelated third party for use in clean energy equipment. (Some exceptions apply.)
Summary by the Congressional Research Service, Library of Congress.
Actions
- Feb 6, 2025 Read twice and referred to the Committee on Finance.
- Feb 6, 2025 Introduced in Senate
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