Bills · S 369
IN COMMITTEE· 119TH CONGRESS
Senate BillS 369Taxation
NO GOTION Act
INTRO FEB 3· LAST ACTION FEB 3
READING
5MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenCompanies currently involved in clean energy development, manufacturing, or related activities within the U.S. that have ownership, control, or significant business ties to foreign adversary governments or entities would be most directly affected. These companies would lose access to valuable tax credits and deductions, which could impact their financial viability and project plans in the United States.
U.S. taxpayers would be indirectly affected, as the bill intends to ensure their tax dollars are not used to subsidize companies associated with nations deemed as foreign adversaries. Additionally, any U.S. companies looking for partners or investors in the green energy sector would need to carefully vet the origins and affiliations of potential collaborators to avoid becoming associated with a "disqualified company."
KEY PROVISIONS
4AI-extractedPROVISION 01
This bill prevents "disqualified companies" from receiving a wide range of U.S. tax credits and deductions related to clean energy production, manufacturing, and infrastructure.
This provision directly aims to stop U.S. taxpayer money from indirectly funding companies linked to foreign adversaries in the clean energy sector.
PROVISION 02
The bill establishes detailed criteria for identifying a "disqualified company," including any entity that is a foreign adversary government, is organized or headquartered in a foreign adversary, has 10% or more equity held by foreign adversary parties, or is controlled, influenced by, or has certain financial arrangements with them.
This legally defines which companies will be denied tax benefits, providing a framework for enforcement and identifying specific entities.
PROVISION 03
It defines "foreign adversary" to include countries designated as "covered nations" by the Department of Defense (such as China, Russia, Iran, North Korea), and explicitly adds Cuba and Venezuela (when Nicholas Maduro is President).
This clarifies which nations' associated companies are targeted, casting a wide net to include specific geopolitical rivals.
PROVISION 04
The Treasury Secretary is authorized to issue guidance necessary to carry out the bill's purposes, including rules for determining equity interests in publicly traded companies and preventing evasion.
This ensures the law can be effectively administered and adapted to complex financial structures while preventing companies from circumventing its intent.
SPONSORSHIP
1 + 0
R· Florida
YRS IN OFFICE
7
BILLS LED
184
ACTION TIMELINE
2 EVENTSFEB 3
Introduced in Senate
FEB 3
Read twice and referred to the Committee on Finance.
BILL INFO
TypeSenate Bill
NumberS 369
Congress119th
StatusIn Committee
IntroducedFeb 3, 2025
Last actionFeb 3, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCE COMMITTEE · INTRODUCED FEB 3, 2025
Senate BillS 369Taxation
NO GOTION Act
INTRODUCED FEB 3, 2025· LAST ACTION FEB 3, 2025
PASSAGE CHANCES
—%
READING
5 min
COSPONSORS
0
COMPLEXITY
Moderate
