Modernizes rules related to publicly traded partnerships under the Internal Revenue Code.

The bill, known as the "Advancing Capital for Critical Energy Supply and Security Act" or the "ACCESS Act," amends the Internal Revenue Code to modernize rules related to publicly traded partnerships. It modifies withholding requirements, eliminates separate application of passive activity rules, and excludes certain interests in publicly traded partnerships from being treated as effectively connected income. These changes apply to taxable years beginning after December 31, 2026.

Modernizes rules related to publicly traded partnerships under the Internal Revenue Code.

The bill, known as the "Advancing Capital for Critical Energy Supply and Security Act" or the "ACCESS Act," amends the Internal Revenue Code to modernize rules related to publicly traded partnerships. It modifies withholding requirements, eliminates separate application of passive activity rules, and excludes certain interests in publicly traded partnerships from being treated as effectively connected income. These changes apply to taxable years beginning after December 31, 2026.