1. Short title This Act may be cited as the No Official Giveaways Of Taxpayers’ Income to Oppressive Nations Act or the NO GOTION Act . 2. Denial of green energy tax benefits to companies connected to countries of concern (a) In general Chapter 77 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 7531. Denial of green energy tax benefits to companies connected to countries of concern (a) In general In the case of any disqualified company, this title shall be applied without regard to sections 30C, 40, 40A, 40B, 45, 45Q, 45U, 45V, 45W, 45X, 45Y, 45Z, 48, 48C, 48E, 179D, 6426(c), 6426(d), 6426(e), and 6427(e). (b) Disqualified company For purposes of this section— (1) In general The term disqualified company means— (A) any entity created or organized in, or controlled (in the aggregate) by, one or more countries of concern, and (B) any entity controlled (in the aggregate) by one or more entities described in paragraph (1). (2) Countries of concern The term countries of concern means the People’s Republic of China, Russia, the Islamic Republic of Iran, or the Democratic People’s Republic of Korea. (3) Control The term control has the meaning given such term under section 954(d)(3), determined by treating the rules of section 958(a)(2) as applying to both foreign and domestic corporations, partnerships, trusts, and estates. . (b) Clerical amendment The table of sections for chapter 77 of such Code is amended by adding at the end the following new item: Sec. 7531. Denial of green energy tax benefits to companies connected to countries of concern. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.