S. 5641 — Opportunities for Nuclear Energy Investment Act

This section expands the definition of energy communities for the renewable electricity production credit to include any metropolitan or non-metropolitan statistical area with 0.17 percent or greater direct employment in nuclear power advancement (including advanced nuclear facilities, R&D, fuel cycle activities, and component manufacturing) plus related indirect or induced employment. It deems an advanced nuclear facility located in such an area at the start of construction to remain eligible for the full 10-year credit period regardless of later changes, and applies the expanded definition to the clean electricity investment credit under section 48E.

This section expands the advanced manufacturing production credit under section 45X to include distribution transformers and large power transformers, providing a credit equal to 10 percent of the taxpayer’s production costs. It defines a distribution transformer by reference to section 321(35) of the Energy Policy and Conservation Act and a large power transformer as a device transferring electrical energy between circuits within the bulk-power system. The changes apply to components produced and sold after the date that is 90 days after enactment.