This bill creates a new 30 percent tax credit for companies that install regionally significant electric power transmission lines. The credit applies to new transmission lines placed in service after 2023 that span at least two states or 150 continuous miles, as well as modifications to existing lines that increase capacity by at least 500 megawatts. Qualifying projects must use advanced transmission technology and meet specific voltage and capacity requirements, with a focus on improving grid resilience against weather and natural disasters, facilitating renewable energy connections, and addressing high electricity demand areas. The credit also covers related transmission equipment and grid-enhancing technologies. The tax incentive expires for projects that begin construction after December 31, 2033, and applies to both traditional utilities and other entities involved in transmission infrastructure development.
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