United States 119th Congress Status: In Committee Bipartisan · 8 R · 2 D · 1 I cosponsors

S 510 — Financing Our Energy Future Act

Last action — Read twice and referred to the Committee on Finance.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 11, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 42% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 11 sponsors

    1 primary, 10 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 3 parties (8 R · 2 D · 1 I) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Financing Our Energy Future ActThis bill allows a publicly traded partnership to derive income from certain clean energy-related activities and still be treated as a partnership for federal income tax purposes. As background, a publicly traded partnership is a partnership whose interests are traded on an established securities market (or readily tradable on a secondary market). A publicly traded partnership generally is treated as a corporation for federal income tax purposes unless 90% or more of such partnership’s gross income is qualifying income.Under current law, qualifying income includes interest and dividends;real property rents;gain from the sale (or disposition) of real property;income from certain activities related to minerals and natural resources, source carbon dioxide, and the transportation or storage of certain fuels; andgain from the sale (or disposition) of a capital asset or commodities.Under the bill, the qualifying income is expanded to include income derived from electric power (or thermal energy) generated from renewable energy sources (e.g., wind and solar energy), qualified gasification projects, or advanced nuclear facilities;accepting or processing open-loop biomass or municipal solid waste (by certain facilities);the storage of electric power or thermal energy using certain energy storage technology;the generation, storage, or distribution of electric power (or thermal energy) using combined heat and power system property;fuels that use certain carbon oxides as primary feedstock;certain renewable chemicals;transportation or storage of liquefied or compressed hydrogen;the conversion of renewable biomass; andcertain carbon capture and sequestration facilities.

Bill Text

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 10 co-sponsors · 536 not signed on

Sponsors (1)

Co-sponsors (10)

Not signed on (536)

536 members have not signed on to this bill.

Show all 536 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation energy
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S 510 do?
Financing Our Energy Future ActThis bill allows a publicly traded partnership to derive income from certain clean energy-related activities and still be treated as a partnership for federal income tax purposes. As background, a publicly traded partnership is a partnership whose interests are traded on an established securities market (or readily tradable on a secondary market). A publicly traded partnership generally is treated as a corporation for federal income tax purposes unless 90% or more of such partnership’s gross income is qualifying income.Under current law, qualifying income includes interest and dividends;real property rents;gain from the sale (or disposition) of real property;income from certain activities related to minerals and natural resources, source carbon dioxide, and the transportation or storage of certain fuels; andgain from the sale (or disposition) of a capital asset or commodities.Under the bill, the qualifying income is expanded to include income derived from electric power (or thermal energy) generated from renewable energy sources (e.g., wind and solar energy), qualified gasification projects, or advanced nuclear facilities;accepting or processing open-loop biomass or municipal solid waste (by certain facilities);the storage of electric power or thermal energy using certain energy storage technology;the generation, storage, or distribution of electric power (or thermal energy) using combined heat and power system property;fuels that use certain carbon oxides as primary feedstock;certain renewable chemicals;transportation or storage of liquefied or compressed hydrogen;the conversion of renewable biomass; andcertain carbon capture and sequestration facilities.
Who sponsors S 510?
S 510 is sponsored by Moran, Jerry (Republican), Coons, Christopher A. (Democratic), Barrasso, John (Republican), Collins, Susan M. (Republican), King, Angus S., Jr. (Independent), Warner, Mark R. (Democratic), Marshall, Roger (Republican), Cornyn, John (Republican), Curtis, John R. (Republican), Cramer, Kevin (Republican), and Ricketts, Pete (Republican).
What is the current status of S 510?
This bill is in committee in the Senate. Introduced February 11, 2025. It must pass committee before a floor vote.
Where can I track S 510?
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