Nuclear USA Act of 2024

Section 48C(c)(1)(A)(iii) of the Internal Revenue Code of 1986 is amended to read as follows:

(iii) which re-equips, expands, or establishes an industrial facility for—

(I) the processing, refining, or reprocessing of critical materials,

(II) the production, conversion, or enrichment of uranium,

(III) the fabrication of nuclear fuel, or

(IV) the reprocessing of spent nuclear fuel.

Section 48C(c) is amended by adding at the end the following new paragraph:

For purposes of this paragraph, the term critical material means—

(A) a critical material (as defined in section 7002(a) of the Energy Act of 2020), and

(B) uranium, including natural, converted, and enriched uranium.

The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.

Section 45X(c)(6) of the Internal Revenue Code of 1986 is amended by redesignating subparagraphs (X) through (Z) as subparagraphs (Y) through (AA), respectively, and by inserting after subparagraph (W) the following new subparagraph:

(X) Uranium.

Section 45X(c)(1)(B) of such Code is amended by inserting after the date which is 10 years after the date of the enactment of the Nuclear USA Act of 2024 after a facility.

The amendments made by this section shall apply to components produced after the date of the enactment of this Act.