Amends the Internal Revenue Code to provide a tax credit for maintaining and enhancing hydroelectric facilities.

The bill amends the Internal Revenue Code to provide a tax credit for maintaining and enhancing hydroelectric facilities. The credit is equal to 30 percent of the basis of any hydropower improvement property placed in service during the taxable year. The credit applies to property placed in service after December 31, 2022. The bill also defines hydropower improvement property, qualified dam, fish passage, interconnection property, and obsolete river obstruction. The amendments apply to property placed in service after December 31, 2022.

Amends the Internal Revenue Code to provide a tax credit for maintaining and enhancing hydroelectric facilities.

The bill amends the Internal Revenue Code to provide a tax credit for maintaining and enhancing hydroelectric facilities. The credit is equal to 30 percent of the basis of any hydropower improvement property placed in service during the taxable year. The credit applies to property placed in service after December 31, 2022. The bill also defines hydropower improvement property, qualified dam, fish passage, interconnection property, and obsolete river obstruction. The amendments apply to property placed in service after December 31, 2022.