Brazil has enacted Law No. 14.990/2024, establishing the Low-Carbon Hydrogen Development Program (PHBC) to provide financial support for low-carbon hydrogen projects through tax credits. The program follows previous legislation (Law No. 14,948/2024) aimed at creating a legal framework for low-carbon hydrogen in the country. The PHBC aims to boost the development of low-carbon and renewable hydrogen, support energy transition efforts, set market targets, decarbonize key sectors, and promote the use of low-carbon hydrogen in heavy transport. Under the PHBC, tax credits will be granted based on specific criteria such as regional development, climate change mitigation, technological advancement, and industry diversification. The government will set annual limits for tax credit allocation, and a competitive process will determine the recipients. There are eligibility criteria for both producers and purchasers of low-carbon hydrogen, with penalties in place for non-compliance with regulations. The tax credits will be related to the Social Contribution on Net Profit and can be used to offset tax debts or be reimbursed in cash. Projects must use low-carbon hydrogen or its derivatives produced in Brazil between 2028 and 2032 to qualify for the credits. The PHBC also mandates the publication of an annual report by the Executive Branch evaluating the progress of the national hydrogen policy, the certification system, and the low-carbon hydrogen projects benefiting from the program.