A bill to amend the Internal Revenue Code of 1986 to provide for a production and investment tax credit related to the production of clean hydrogen.
Clean H2 Production Act
This bill provides tax incentives for the production of clean hydrogen and for investment in clean hydrogen production facilities. Specifically, it allows a new business-related tax credit for the production of specified amounts of qualified clean hydrogen. The bill defines qualified clean hydrogen as hydrogen that is produced through a process that, as compared to hydrogen produced by steam-methane reforming of nonrenewable natural gas, achieves a percentage reduction in life cycle greenhouse gas emissions that is not less than 50%.
The bill also expands the energy tax credit to include clean hydrogen production facilities.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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