To amend the Internal Revenue Code of 1986 to expand prohibitions under the clean vehicle credit on battery components manufactured or assembled by corporations associated with foreign entities of concern, and for other purposes.
About This Bill
Committee
Latest Action · April 27, 2023
Referred to the House Committee on Ways and Means.
No American Tax Dollars To CCP Act
This bill expands prohibitions under the clean vehicle tax credit on battery components manufactured or assembled by a foreign entity of concern to
a domestic corporation that is controlled by, operated by, or under the substantial influence of a foreign entity of concern (e.g., a state-backed Chinese company); a domestic corporation that relies on technology provided through a licensing agreement with a foreign entity of concern; a foreign corporation organized outside of China, Russia, North Korea, and Iran but that is owned more than 20% by 1 or more foreign entities of concern; or any member or partner of a joint venture or partnership in which at least one other partner or member is a foreign entity of concern. The bill also renders ineligible for the qualifying advanced energy project tax credit any project that incorporates or utilizes technology provided through a licensing agreement with the foreign entities of concern described by this bill.
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