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The NO GOTION Act amends the Internal Revenue Code to deny green energy tax credits and deductions to companies that are controlled by, organized in, or significantly owned by governments or entities from seven designated countries of concern (China, Russia, Iran, North Korea, Cuba, Venezuela under Maduro, and Syria). The bill eliminates eligibility for numerous clean energy tax benefits including credits for electric vehicles, renewable energy production, energy efficiency improvements, and clean hydrogen production for any disqualified company, effective for tax years beginning after enactment.
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