To amend the Internal Revenue Code of 1986 to modify certain investment credit rules with respect to nuclear facilities.

On April 23, 2026, Rep. Harrigan (R-NC) introduced H.R. 8482, a bill to modify investment credit rules under the IRS Code to include nuclear facilities. The bill was referred to the House Ways and Means Committee. It has 9 bipartisan cosponsors. The legislation specifically amends Section 50(d)(2) to allow nuclear facilities to elect out of the public utility property limitation, making them eligible for the clean electricity investment credit (Section 48E) or production credit (Section 45Y). It also removes the progress expenditure limitation for nuclear facilities under Section 6418 transferability rules. The effective date is taxable years after December 31, 2026. This bill does not appropriate funds; it modifies tax credits—a tax expenditure. The Congressional Joint Committee on Taxation would estimate the revenue loss, but the benefit to nuclear operators is direct: they can claim up to 30% ITC for qualified investments or PTCs for electricity produced, and they can transfer these credits to third parties for cash. This significantly improves the return on investment for nuclear plant uprates, license renewals, and new builds. Structurally, the biggest winners are pure-play nuclear operator $CEG (Constellation Energy) which has the largest US nuclear fleet, and integrated utilities with substantial nuclear exposure: $NEE (NextEra, ~5 GW), $DUK (Duke, ~10 GW), $SO (Southern, ~6 GW), and $EXC (Exelon, ~8 GW). Suppliers like $GEV (GE Vernova, nuclear turbines) and $BWXT (nuclear components) benefit indirectly through increased capital spending. Small modular reactor developers like $SMR (NuScale) also stand to gain if new builds become economic. No real market data is provided for stock price movements, so we focus on structural positioning. Historically, nuclear tax credit support (e.g., the IRA's Section 45U for existing nuclear) has proven highly valuable—$CEG's stock doubled after the IRA passage partially due to that credit. This bill extends similar benefits to investment and production credits, potentially worth billions in aggregate to the sector if enacted. The legislative path is uncertain: early stage, referred to committee, no hearings yet. However, bipartisan interest in nuclear energy (evidenced by cosponsors from both parties) and the growing demand for clean baseload power for AI/data centers increase the odds. If passed, the effective date of 2027 means near-term impact on 2027 capital budgets.