,,ii  #aac? ,,congress  #a/ ,session    
,s4 #ajcj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #bc1 #bjac ,mr4   
,wyd5 7= himself1 ,ms4 ,coll9s1 ,mr4    
,m]kley1 & ,mr4 ,k+7 introduc$ ! foll[+ 
bill2 :i* 0 read twice & ref]r$ to !    
,committee on ,f9ance  ,a ,,bill  ,to   
am5d ! ,int]nal ,rev5ue ,code ( #aihf to
 provide = an en]gy inve/m5t cr$it =    
en]gy /orage prop]ty connect$ to ! grid1
 & = o!r purposes4  #a4 ,%ort title ,?is
 ,act may be cit$ z ! ,/orage ,te*nology
 = ,r5ewable & ,gre5 ,en]gy ,act ( #bjac
 or ! ,,/orage #bjac ,act4  #b4 ,en]gy  
inve/m5t cr$it = en]gy /orage prop]ty   
connect$ to ! grid  7a7 ,up to #bj p]c5t
 cr$it all[$ ,subp>agraph 7,a7 ( section
 #dh7;a77#b7 ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$--  7#a7 by /rik+ & at !
 end ( subclause 7,,iv7 ( clause 7i71   
7#b7 by /rik+ clause 7i7 9 clause 7ii7 &
 ins]t+ clause 7i7 or 7ii71  7#c7 by    
r$esignat+ clause 7ii7 z clause 7iii71 &
  7#d7 by ins]t+ aft] clause 7i7 !      
foll[+ new clause3  7ii7 z provid$ 9    

subsection 7c77#e77;,d71 up to #bj p]c5t
 9 ! case ( qualifi$ en]gy /orage       
prop]ty1 &  4  7b7 ,qualifi$ en]gy      
/orage prop]ty ,subsection 7c7 ( section
 #dh ( ! ,int]nal ,rev5ue ,code ( #aihf 
is am5d$ by add+ at ! end ! foll[+ new  
p>agraph3  7#e7 ,qualifi$ en]gy /orage  
prop]ty  7,a7 ,9 g5]al ,! t]m qualifi$  
en]gy /orage prop]ty means prop]ty--    
7i7 :i* is directly connect$ to !       
electrical grid1 &  7ii7 :i* is design$ 
to receive electrical en]gy1 to /ore su*
 en]gy1 &--  7,i7 to conv]t su* en]gy to
 electricity & deliv] su* electricity = 
sale1 or  7,,ii7 to use su* en]gy to    
provide improv$ reliability or economic 
b5efits to ! grid4  ,su* t]m may include
 hydroelectric pump$ /orage & compress$ 
air en]gy /orage1 reg5]ative fuel cells1
 batt]ies1 sup]conduct+ magnetic en]gy  
/orage1 fly:eels1 !rmal en]gy /orage    
sy/ems1 & hydrog5 /orage1 or comb9ation 
!re(1 or any o!r te*nologies z !        
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy1 %all det]m9e4  7,b7 ,m9imum   

capacity ,! t]m qualifi$ en]gy /orage   
prop]ty %all n include any prop]ty      
unless su* prop]ty 9 aggregate has !    
ability to su/a9 a p[] rat+ ( at lea/ #a
 megawatt = a m9imum ( #a h\r4  7,c7    
,electrical grid ,! t]m electrical grid 
means ! sy/em ( g5]ators1 transmission  
l9es1 & di/ribution facilities :i*--    
7i7 are "u ! jurisdiction ( ! ,f$]al    
,en]gy ,regulatory ,commission or ,/ate 
public utility commissions1 or  7ii7 are
 own$ by--  7,i7 ! ,f$]al gov]nm5t1     
7,,ii7 a ,/ate or any political         
subdivision ( a ,/ate1  7,,iii7 an      
electric coop]ative t is eligible =     
f9anc+ "u ! ,rural ,electrification ,act
 ( #aicf 7#g ,u4,s4,c4 #ija et seq471 or
  7,,iv7 any ag5cy1 au?ority1 or        
in/rum5tality ( any "o or m ( ! entities
 describ$ 9 subclause 7,i7 or 7,,ii71 or
 any corporation :i* is :olly own$1     
directly or indirectly1 by any "o or m (
 su* entities4  7,d7 ,allocation (      
cr$its  7i7 ,9 g5]al ,9 ! case (        
qualifi$ en]gy /orage prop]ty plac$ 9   

s]vice dur+ ! taxable ye>1 ! cr$it      
o!rwise det]m9$ "u subsection 7a7 = su* 
ye> ) respect to su* prop]ty %all n     
exce$ ! am\nt allocat$ to su* project "u
 clause 7ii74  7ii7 ,national limitation
 & allocation ,!re is a qualifi$ en]gy  
/orage prop]ty inve/m5t cr$it limitation
 ( #a1ejj1jjj1jjj4 ,su* limitation %all 
be allocat$ by ! ,secret>y among        
qualifi$ en]gy /orage prop]ty projects  
select$ by ! ,secret>y1 9 consultation )
 ! ,secret>y ( ,en]gy1 = taxable ye>s   
beg9n+ aft] ! date ( ! enactm5t ( !     
,,/orage #bjac ,act1 except t n m ?an   
#dj1jjj1jjj %all be allocat$ to any     
project = all su* taxable ye>s4  7iii7  
,selection crit]ia ,9 mak+ allocations  
"u clause 7ii71 ! ,secret>y1 9          
consultation ) ! ,secret>y ( ,en]gy1    
%all select only ^? projects :i* h a    
reasonable expectation ( comm]cial      
viability1 select projects repres5t+ a  
v>iety ( te*nologies1 applications1 &   
project sizes1 & give priority to       
projects :i*--  7,i7 provide ! greate/  

increase 9 reliability or ! greate/     
economic b5efit1  7,,ii7 enable !       
greate/ improvem5t 9 integration (      
r5ewable res\rces into ! grid1 or       
7,,iii7 enable ! greate/ increase 9     
effici5cy 9 op]ation ( ! grid4  7iv7    
,deadl9es  7,i7 ,9 g5]al ,if a project  
:i* receives an allocation "u clause    
7ii7 is n plac$ 9 s]vice )9 #b ye>s aft]
 ! date ( su* allocation1 su* allocation
 %all be invalid4  7,,ii7 ,special rule 
= hydroelectric pump$ /orage ,not)/&+   
subclause 7,i71 9 ! case ( a            
hydroelectric pump$ /orage project1 if  
su* project has n receiv$ su* p]mits or 
lic5ses z are det]m9$ necess>y by !     
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy1 )9 #c ye>s aft] ! date ( su*  
allocation1 begun con/ruction )9 #e ye>s
 aft] ! date ( su* allocation1 & be5    
plac$ 9 s]vice )9 #h ye>s aft] ! date ( 
su* allocation1 su* allocation %all be  
invalid4  7,,iii7 ,special rule =       
compress$ air en]gy /orage ,not)/&+     
subclause 7,i71 9 ! case ( a compress$  

air en]gy /orage project1 if su* project
 has n begun con/ruction )9 #c ye>s aft]
 ! date ( ! allocation & be5 plac$ 9    
s]vice )9 #e ye>s aft] ! date ( su*     
allocation1 su* allocation %all be      
invalid4  7,,iv7 ,exceptions ,!         
,secret>y may ext5d ! #b-ye> p]iod 9    
subclause 7,i7 or ! p]iods describ$ 9   
subclauses 7,,ii7 & 7,,iii7 on a        
project-by-project basis if ! ,secret>y1
 9 consultation ) ! ,secret>y ( ,en]gy1 
det]m9es t !re has be5 a good fai? ef=t 
to beg9 con/ruction or to place !       
project 9 s]vice1 :i*ev] is applicable1 
& t any delay is caus$ by factors n 9 ! 
taxpay]'s control4  7,e7 ,review &      
r$i/ribution  7i7 ,review ,n lat] ?an #d
 ye>s aft] ! date ( ! enactm5t ( !      
,,/orage #bjac ,act1 ! ,secret>y %all   
review ! cr$its allocat$ "u subp>agraph 
7,d7 z ( ! date ( su* review4  7ii7     
,r$i/ribution ,^u ! review describ$ 9   
clause 7i71 ! ,secret>y may reallocate  
cr$its allocat$ "u subp>agraph 7,d7 if !
 ,secret>y det]m9es t--  7,i7 !re is an 

insuffici5t quantity ( qualify+         
applications = c]tification p5d+ at ! "t
 ( ! review1 or  7,,ii7 any allocation  
made "u subp>agraph 7,d77ii7 has be5    
revok$ pursuant to subp>agraph 7,d77iv7 
because ! project subject to su*        
allocation has be5 delay$4  7,f7        
,disclosure ( allocations ,! ,secret>y  
%all1 ^u mak+ an allocation "u          
subp>agraph 7,d77ii71 publicly disclose 
! id5tity ( ! applicant1 ! location ( ! 
project1 & ! am\nt ( ! cr$it ) respect  
to su* applicant4  7,g7 ,t]m9ation ,no  
cr$it %all be allocat$ "u subp>agraph   
7,d7 = any p]iod end+ aft] ,decemb] #ca1
 #bjbj4  4  7c7 ,effective date ,!      
am5dm5ts made by ?is section %all apply 
to p]iods aft] ! date ( ! enactm5t ( ?is
 ,act1 "u rules simil> to ! rules (     
section #dh7m7 ( ! ,int]nal ,rev5ue     
,code ( #aihf 7z 9 effect on ! day be=e 
! date ( ! enactm5t ( ! ,rev5ue         
,reconciliation ,act ( #aiij74  #c4     
,en]gy /orage prop]ty connect$ to ! grid
 eligible = new clean r5ewable en]gy    

bonds  7a7 ,9 g5]al ,p>agraph 7#a7 (    
section #ed;,c7d7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$ to read z foll[s3
  7#a7 ,qualifi$ r5ewable en]gy facility
 ,! t]m qualifi$ r5ewable en]gy facility
 means a facility :i* is--  7,a7 7i7 a  
qualifi$ facility 7z det]m9$ "u section 
#de7;d7 )\t reg>d to p>agraphs 7#h7 &   
7#aj7 !re( & to any plac$ 9 s]vice      
date71 or  7ii7 a qualifi$ en]gy /orage 
prop]ty 7z def9$ 9 section #dh7;c77#e771
 &  7,b7 own$ by a public p[] provid]1 a
 gov]nm5tal body1 or a coop]ative       
electric company4  4  7b7 ,effective    
date ,! am5dm5t made by ?is section %all
 apply to obligations issu$ aft] ! date 
( ! enactm5t ( ?is ,act4  #d4 ,en]gy    
inve/m5t cr$it = onsite en]gy /orage    
7a7 ,cr$it all[$ ,clause 7i7 ( section  
#dh7;a77#b77;,a7 ( ! ,int]nal ,rev5ue   
,code ( #aihf1 z am5d$ by ?is ,act1 is  
am5d$--  7#a7 by /rik+ & at ! end (     
subclause 7,,iii71  7#b7 by ins]t+ & at 
! end ( subclause 7,,iv71 &  7#c7 by    
add+ at ! end ! foll[+ new subclause3   

7,v7 qualifi$ onsite en]gy /orage       
prop]ty1  4  7b7 ,qualifi$ onsite en]gy 
/orage prop]ty ,subsection 7c7 ( section
 #dh ( ! ,int]nal ,rev5ue ,code ( #aihf1
 z am5d$ by ?is ,act1 is am5d$ by add+  
at ! end ! foll[+ new p>agraph3  7#f7   
,qualifi$ onsite en]gy /orage prop]ty   
7,a7 ,9 g5]al ,! t]m qualifi$ onsite    
en]gy /orage prop]ty means prop]ty :i*--
  7i7 provides supplem5tal en]gy to     
r$uce peak en]gy requirem5ts prim>ily on
 ! same site :]e ! prop]ty is locat$1 or
  7ii7 is design$ & us$ prim>ily to     
receive & /ore1 firm1 or %ape v>iable   
r5ewable or (f-peak en]gy & to deliv]   
su* en]gy prim>ily = onsite consumption4
  ,su* t]m may include !rmal en]gy      
/orage sy/ems & prop]ty us$ to *>ge     
plug-9 & hybrid electric vehicles if su*
 prop]ty or vehicles are equipp$ ) sm>t 
grid equipm5t or s]vices :i* control    
"t-(-day *>g+ & dis*>g+ ( su* vehicles4 
,su* t]m %all n include any prop]ty =   
:i* any o!r cr$it is all[$ "u ?is *apt]4
  7,b7 ,m9imum capacity ,! t]m qualifi$ 

onsite en]gy /orage prop]ty %all n      
include any prop]ty unless su* prop]ty 9
 aggregate--  7i7 has ! ability to /ore 
! en]gy equival5t ( at lea/ #e kil[att  
h\rs ( en]gy1 &  7ii7 has ! ability to h
 an output ( ! en]gy equival5t ( #a     
kil[att ( electricity = a p]iod ( #e    
h\rs4  7,c7 ,limitation ,9 ! case (     
qualifi$ onsite en]gy /orage prop]ty    
plac$ 9 s]vice dur+ ! taxable ye>1 !    
cr$it o!rwise det]m9$ "u subsection 7a7 
= su* ye> ) respect to su* prop]ty %all 
n exce$ #a1jjj1jjj4  4  7c7 ,effective  
date ,! am5dm5ts made by ?is section    
%all apply to p]iods aft] ! date ( !    
enactm5t ( ?is ,act1 "u rules simil> to 
! rules ( section #dh7m7 ( ! ,int]nal   
,rev5ue ,code ( #aihf 7z 9 effect on !  
day be=e ! date ( ! enactm5t ( ! ,rev5ue
 ,reconciliation ,act ( #aiij74  #e4    
,cr$it = resid5tial en]gy /orage        
equipm5t  7a7 ,cr$it all[$ ,subsection  
7a7 ( section #be;,d ( ! ,int]nal       
,rev5ue ,code ( #aihf is am5d$--  7#a7  
by /rik+ & at ! end ( p>agraph 7#d71    

7#b7 by /rik+ ! p]iod at ! end (        
p>agraph 7#e7 & ins]t+ 1 &1 &  7#c7 by  
add+ at ! end ! foll[+ new p>agraph3    
7#f7 #cj p]c5t ( ! qualifi$ resid5tial  
en]gy /orage equipm5t exp5ditures made  
by ! taxpay] dur+ su* taxable ye>4  4   
7b7 ,qualifi$ resid5tial en]gy /orage   
equipm5t exp5ditures ,section #be;,d7d7 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#f7 ,qualifi$ resid5tial    
en]gy /orage equipm5t exp5ditures ,=    
purposes ( ?is section1 ! t]m qualifi$  
resid5tial en]gy /orage equipm5t        
exp5diture means an exp5diture =        
prop]ty--  7,a7 :i* is in/all$ 9 or on a
 dwell+ unit locat$ 9 ! ,unit$ ,/ates & 
own$ & us$ by ! taxpay] z ! taxpay]'s   
pr9cipal resid5ce 7)9 ! mean+ ( section 
#aba71 or on prop]ty own$ by ! taxpay]  
on :i* su* a dwell+ unit is locat$1     
7,b7 :i*--  7i7 provides supplem5tal    
en]gy to r$uce peak en]gy requirem5ts   
prim>ily on ! same site :]e ! prop]ty is
 locat$1 or  7ii7 is design$ & us$      

prim>ily to receive & /ore1 firm1 or    
%ape v>iable r5ewable or (f-peak en]gy &
 to deliv] su* en]gy prim>ily = onsite  
consumption1 &  7,c7 :i*--  7i7 has !   
ability to /ore ! en]gy equival5t ( at  
lea/ #b kil[att h\rs ( en]gy1 &  7ii7   
has ! ability to h an output ( ! en]gy  
equival5t ( #ejj watts ( electricity = a
 p]iod ( #d h\rs4  ,su* t]m may include 
!rmal en]gy /orage sy/ems & prop]ty us$ 
to *>ge plug-9 & hybrid electric        
vehicles if su* prop]ty or vehicles are 
equipp$ ) sm>t grid equipm5t or s]vices 
:i* control "t-(-day *>g+ & dis*>g+ (   
su* vehicles4 ,su* t]m %all n include   
any prop]ty = :i* any o!r cr$it is all[$
 "u ?is *apt]4  4  7c7 ,effective date  
,! am5dm5ts made by ?is section %all    
apply to prop]ty plac$ 9 s]vice aft] !  
date ( ! enactm5t ( ?is ,act4