S.Amdt. 5303

SA 5303. Mrs. FISCHER submitted an amendment intended to be proposed
to amendment SA 5194 proposed by Mr. Schumer to the bill H.R. 5376, to
provide for reconciliation pursuant to title II of S. Con. Res. 14;
which was ordered to lie on the table; as follows:

At the end of part IX of subtitle D of title I, insert the
following:

SEC. 13903. PROHIBITION ON TAX BENEFITS FOR PRODUCTS PRODUCED
BY COVERED FOREIGN COUNTRIES.

(a) In General.--With respect to any credit or deduction
allowed under the Internal Revenue Code of 1986 which is
added or amended by any provision of this subtitle, such
credit or deduction shall not be allowed with respect to any
facility, project, or property which includes or otherwise
uses any covered technology which is acquired, purchased, or
procured from a covered foreign country.
(b) Covered Foreign Country.--For purposes of this section,
the term ``covered foreign country'' means any of the
following:
(1) The Russian Federation.
(2) The Islamic Republic of Iran.
(3) The Democratic People's Republic of Korea
(4) The People's Republic of China.
(c) Covered Technology.--For purposes of this section, the
term ``covered technology'' means--
(1) solar photovoltaic modules,
(2) wind turbines,
(3) electric vehicle batteries, and
(4) any component or part (including any critical minerals)
used in the production of any property described in
paragraphs (1) through (3).
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