,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #gaif  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,novemb] #bi1         
#bjah,mr4 ,re$ 7= himself1 ,mr4         
,la,hood1 & ,mr4 ,pauls57 introduc$ !   
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to provide inve/m5t & production  
tax cr$its = em]g+ en]gy te*nologies1 & 
= o!r purposes4  #a4 ,%ort title ,?is   
,act may be cit$ z ! ,en]gy ,sector     
,innovation ,cr$it ,act ( #bjah4  #b4   
,inve/m5t cr$it = em]g+ en]gy te*nology 
7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv (     
sub*apt] ,a ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #dh;,c ! foll[+ new       
section3  #dh;,d4 ,em]g+ en]gy te*nology
 cr$it  7a7 ,9 g5]al ,= purposes (      
section #df1 ! em]g+ en]gy te*nology    
cr$it = any taxable ye> is an am\nt     
equal to #cj p]c5t ( ! basis ( any      
qualifi$ em]g+ en]gy prop]ty plac$ 9    
s]vice by ! taxpay] dur+ su* taxable    

ye>4  7b7 ,qualifi$ em]g+ en]gy prop]ty 
,= purposes ( ?is section-- 7#a7 ,9     
g5]al ,! t]m qualifi$ em]g+ en]gy       
prop]ty means prop]ty :i* is con/ruct$1 
recon/ruct$1 erect$1 or acquir$ by !    
taxpay]1 ! orig9al use ( :i* comm5ces ) 
! taxpay]1 & :i* is--  7,a7 a qualifi$  
production facility 7z def9$ 9 section  
#de,t7d71 det]m9$ )\t reg>d to p>agraph 
7#b7 !re(7 :i* is a ti] #a facility 7z  
def9$ 9 section #de,t7b77#b77;,a771 or  
7,b7 prop]ty :i* is plac$ 9 s]vice at & 
us$ 9 connection ) an exi/+ electric    
g5]at+ facility :i* is a po9t s\rce (   
air pollutants to retr(it su* facility &
 :i*1 ) respect to su* facility--  7i7  
improves conv]sion effici5cy 7z def9$ 9 
section #de,t7e77#b77 or en]gy effici5cy
 7z def9$ 9 section #de,t7e77#c77 by at 
lea/ #ej p]c5t1  7ii7 decreases wat]    
consumption1 9 ! case ( a type (        
facility :i* has significant wat]       
consumption1 by at lea/ #ge p]c5t1 or   
7iii7 z recogniz$ by ! ,environm5tal    
,protection ,ag5cy pursuant to its      

en=cem5t ( ! ,clean ,air ,act 7#db      
,u4,s4,c4 #gdja et seq47 or by          
adm9i/rative action1 r$uces1 seque/]s1  
or controls by at lea/ #ej p]c5t !      
emission ( air pollutants :i* c be      
reasonably anticipat$ to endang] public 
heal? or welf>e4  7#b7 ,d5ial ( d\ble   
b5efit ,su* t]m %all n include-- 7,a7   
any prop]ty :i*1  7,b7 prop]ty any      
portion ( :i*1 or  7,c7 prop]ty plac$ 9 
s]vice at & us$ 9 connection ) a        
facility :i*1  has be5 treat$ z a       
qualifi$ facility = purposes ( section  
#de7;d71 z an advanc$ nucle> p[]        
facility = purposes ( section #de;,j1 z 
a qualifi$ facility = purposes ( section
 #de,q1 z a qualifi$ production facility
 = purposes ( section #de,t1 z en]gy    
prop]ty = purposes ( section #dh1 or z a
 qualifi$ inve/m5t = purposes ( section 
#dh;,a1 #dh;,b1 or #dh;,c1 = any taxable
 ye>4  7#c7 ,po9t s\rce ,= purposes (   
p>agraph 7#a77;,b71 ! t]m po9t s\rce    
means a l>ge1 /ation>y & non-mobile1    
id5tifiable s\rce ( emissions t releases

 pollutants into ! atmosph]e4  7c7 ,fir/
 ( its k9d te*nology  7#a7 ,9 g5]al ,9 !
 case ( any qualifi$ em]g+ en]gy prop]ty
 :i* is ! fir/ ( its k9d1 subsection 7a7
 %all be appli$ by sub/itut+ #dj p]c5t =
 #cj p]c5t4  7#b7 ,fir/ ( its k9d       
,prop]ty %all be treat$ z ! fir/ ( its  
k9d if su* prop]ty is #a ( ! fir/ #c    
orig9al demon/rations 9 ! ,unit$ ,/ates 
( an eng9e]+ design = megawatt-scale    
electric p[] g5]ation :i* g5]ates rev5ue
 f sales ( electric p[]4  7#c7          
,det]m9ation  7,a7 ,9 g5]al ,!          
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy1 %all develop a process to     
det]m9e :e!r qualifi$ em]g+ en]gy       
prop]ty is fir/ ( its k9d4 ,su* process 
%all include a c]tification1 at ! reque/
 ( ! taxpay] be=e ! comm5cem5t (        
con/ruction1 t ! prop]ty w be treat$ z  
fir/ ( its k9d4 ,su* process %all be    
design$ to make a det]m9ation n lat] ?an
 #ij days aft] ! submission ( an        
application = det]m9ation4  7,b7        
,t]m9ation if con/ruction does n proce$ 

,except z o!rwise provid$ by !          
,secret>y1 a c]tification ( any qualifi$
 em]g+ en]gy prop]ty "u subp>agraph 7,a7
 %all cease to h any =ce or effect if   
con/ruction ( su* prop]ty does n beg9   
be=e ! date :i* is #e ye>s aft] ! date (
 su* c]tification or if ! ,secret>y     
makes a det]m9ation t su* con/ruction   
has be5 susp5d$ indef9itely4  7d7 ,c]ta9
 qualifi$ progress exp5diture rules made
 applicable ,rules simil> to ! rules (  
subsections 7c77#d7 & 7d7 ( section #df 
7z 9 effect on ! day be=e ! enactm5t ( !
 ,rev5ue ,reconciliation ,act ( #aiij7  
%all apply = purposes ( ?is section4    
7e7 ,transf] ( cr$it by c]ta9 public    
entities  7#a7 ,9 g5]al ,if1 ) respect  
to a cr$it "u subsection 7a7 = any      
taxable ye>-- 7,a7 a qualifi$ public    
entity w\ld be ! taxpay] 7b = ?is       
p>agraph71 &  7,b7 su* entity elects !  
application ( ?is p>agraph = su* taxable
 ye> ) respect to all 7or any portion   
specifi$ 9 su* election7 ( su* cr$it1 ! 
eligible project p>tn] specifi$ 9 su*   

election1 & n ! qualifi$ public entity1 
%all be treat$ z ! taxpay] = purposes ( 
?is title ) respect to su* cr$it 7or su*
 portion !re(74  7#b7 ,def9itions ,=    
purposes ( ?is subsection-- 7,a7        
,qualifi$ public entity ,! t]m qualifi$ 
public entity means--  7i7 a ,f$]al1    
,/ate1 or local gov]nm5t entity1 or any 
political subdivision1 ag5cy1 or        
in/rum5tality !re(1  7ii7 a mutual or   
coop]ative electric company describ$ 9  
section #eja7;c77#ab7 or #acha7;a77#b71 
or  7iii7 a n-=-pr(it electric utility  
:i* _h or has receiv$ a loan or loan    
gu>antee "u ! ,rural ,electrification   
,act ( #aicf4  7,b7 ,eligible project   
p>tn] ,! t]m eligible project p>tn]     
means any p]son :o-- 7i7 is responsible 
=1 or p>ticipates 91 ! design or        
con/ruction ( ! qualifi$ em]g+ en]gy    
prop]ty to :i* ! cr$it "u subsection 7a7
 relates1  7ii7 is a f9ancial in/itution
 provid+ f9anc+ = ! con/ruction or      
op]ation ( su* prop]ty1 or  7iii7 has an
 own]%ip int]e/ 9 su* prop]ty4  7#c7    

,special rules  7,a7 ,application to    
p>tn]%ips ,9 ! case ( a cr$it "u        
subsection 7a7 :i* is det]m9$ at !      
p>tn]%ip level--  7i7 = purposes (      
p>agraph 7#a77;,a71 a qualifi$ public   
entity %all be treat$ z ! taxpay] )     
respect to su* entity's di/ributive %>e 
( su* cr$it1 &  7ii7 ! t]m eligible     
project p>tn] %all include any p>tn] ( !
 p>tn]%ip4  7,b7 ,taxable ye> 9 :i*     
cr$it tak5 into acc\nt ,9 ! case ( any  
cr$it 7or portion !re(7 ) respect to :i*
 an election is made "u p>agraph 7#a71  
su* cr$it %all be tak5 into acc\nt 9 !  
fir/ taxable ye> ( ! eligible project   
p>tn] end+ )1 or aft]1 ! qualifi$ public
 entity's taxable ye> ) respect to :i* !
 cr$it 0 det]m9$4  7,c7 ,treatm5t (     
transf] "u private use rules ,= purposes
 ( section #ada7;b77#a71 any b5efit     
d]iv$ by an eligible project p>tn] 9    
connection ) an election "u ?is         
subsection %all n be tak5 into acc\nt z 
a private bus9ess use4  4  7b7 ,cr$it   
made "p ( inve/m5t cr$it ,section #df ( 

su* ,code is am5d$ by /rik+ & at ! end (
 p>agraph 7#e71 by /rik+ ! p]iod at !   
end ( p>agraph 7#f7 & ins]t+ 1 &1 & by  
add+ at ! end ! foll[+ new p>agraph3    
7#g7 ! em]g+ en]gy te*nology cr$it4  4  
7c7 ,con=m+ am5dm5ts  7#a7 ,section     
#di7;a77#a77;,c7 ( su* ,code is am5d$ by
 /rik+ & at ! end ( clause 7iv71 by     
/rik+ ! p]iod at ! end ( clause 7v7 &   
ins]t+ 1 &1 & by add+ at ! end ! foll[+ 
new clause3  7vi7 ! basis ( any qualifi$
 em]g+ en]gy prop]ty 7z def9$ 9 section 
#dh;,d7b774  4  7#b7 ,! table ( sections
 = subp>t ,e ( "p ,,iv ( sub*apt] ,a (  
*apt] #a ( su* ,code is am5d$ by ins]t+ 
aft] ! item relat+ to section #dh;,d !  
foll[+ new item3  ,sec4 #dh;,d4 ,em]g+  
en]gy te*nology cr$it4  4  7d7          
,effective date ,! am5dm5ts made by ?is 
section %all apply to prop]ty plac$ 9   
s]vice 9 taxable ye>s beg9n+ 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 ,production cr$it = em]g+  
en]gy te*nology  7a7 ,9 g5]al ,subp>t ,d
 ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! 
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new section3  
#de,t4 ,em]g+ en]gy te*nology production
 cr$it  7a7 ,9 g5]al ,= purposes (      
section #ch1 ! em]g+ en]gy te*nology    
production cr$it det]m9$ "u ?is section 
= any taxable ye> beg9n+ 9 ! cr$it p]iod
 ) respect to a qualifi$ production     
facility ( ! taxpay] is an am\nt equal  
to ! applicable p]c5tage ( ! less] (--  
7#a7 ! annual gross receipts ( ! taxpay]
 f ! sale ( electricity g5]at$ at !     
qualifi$ production facility to an      
unrelat$ p]son dur+ su* taxable ye>1 or 
7#b7 ! product (-- 7,a7 ! national      
av]age :olesale price ( a kil[att h\r ( 
electricity 9 ! taxable ye>1 z det]m9$  
by ! ,secret>y 9 consultation ) !       
,adm9i/rator ( ! ,en]gy ,in=mation      
,adm9i/ration1 multipli$ by  7,b7 !     
numb] ( kil[att h\rs ( electricity      

produc$ at ! qualifi$ production        
facility & sold to an unrelat$ p]son    
dur+ ! taxable ye>4  7b7 ,applicable    
p]c5tage ,= purposes ( ?is section--    
7#a7 ,9 g5]al ,! applicable p]c5tage    
is--  7,a7 9 ! case ( a ti] #a facility1
 #fj p]c5t1  7,b7 9 ! case ( a ti] #b   
facility1 #de p]c5t1  7,c7 9 ! case ( a 
ti] #c facility1 #cj p]c5t1  7,d7 9 !   
case ( a ti] #d facility1 #ae p]c5t1 &  
7,e7 9 ! case ( any o!r facility1 z]o   
p]c5t4  7#b7 ,facility ,ti]s  7,a7 ,ti] 
#a facility ,! t]m ti] #a facility      
means1 ) respect to any taxable ye>1 an 
electric g5]at+ facility us+ a type (   
te*nology :i* acc\nts = less ?an 4#e    
p]c5t ( annual dome/ic electricity      
production 9 ! prec$+ taxable ye>1 z    
det]m9$ by ! ,secret>y on ! basis ( data
 report$ by ! ,en]gy ,in=mation         
,adm9i/ration4  7,b7 ,ti] #b facility ,!
 t]m ti] #b facility means1 ) respect to
 any taxable ye>1 an electric g5]at+    
facility us+ a type ( te*nology :i*     
acc\nts = at lea/ 4#e p]c5t b less ?an  

#a p]c5t ( annual dome/ic electricity   
production 9 ! prec$+ taxable ye>1 z    
det]m9$ by ! ,secret>y on ! basis ( data
 report$ by ! ,en]gy ,in=mation         
,adm9i/ration4  7,c7 ,ti] #c facility ,!
 t]m ti] #c facility means1 ) respect to
 any taxable ye>1 an electric g5]at+    
facility us+ a type ( te*nology :i*     
acc\nts = at lea/ #a p]c5t b less ?an   
#a4e p]c5t ( annual dome/ic electricity 
production 9 ! prec$+ taxable ye>1 z    
det]m9$ by ! ,secret>y on ! basis ( data
 report$ by ! ,en]gy ,in=mation         
,adm9i/ration4  7,d7 ,ti] #d facility ,!
 t]m ti] #d facility means1 ) respect to
 any taxable ye>1 an electric g5]at+    
facility us+ a type ( te*nology :i*     
acc\nts = at lea/ #a4e p]c5t b less ?an 
#b p]c5t ( annual dome/ic electricity   
production 9 ! prec$+ taxable ye>1 z    
det]m9$ by ! ,secret>y on ! basis ( data
 report$ by ! ,en]gy ,in=mation         
,adm9i/ration4  7c7 ,cr$it p]iod ,=     
purposes ( ?is section1 ! cr$it p]iod ) 
respect to any qualifi$ production      

facility is ! #aj-ye> p]iod beg9n+ ) !  
date ! facility 0 orig9ally plac$ 9     
s]vice4  7d7 ,qualifi$ production       
facility ,= purposes ( ?is section--    
7#a7 ,9 g5]al ,! t]m qualifi$ production
 facility means any facility :i*--  7,a7
 0 orig9ally plac$ 9 s]vice aft] ! date 
( ! enactm5t ( ?is ,act1  7,b7 g5]ates  
electricity1  7,c7 is locat$ 9 ! ,unit$ 
,/ates or a possession ( ! ,unit$ ,/ates
 7z su* t]ms are us$ 9 section #fch71   
7,d7 utilizes em]g+ te*nology1 &  7,e7  
is c]tifi$ by ! ,secret>y1 aft]         
consultation ) ! ,secret>y ( ,en]gy1 z a
 qualifi$ production facility = purposes
 ( ?is section4  7#b7 ,d5ial ( d\ble    
b5efit ,su* t]m %all n include any      
facility :i* has be5 treat$ z a qualifi$
 facility = purposes ( section #de7;d71 
z an advanc$ nucle> p[] facility =      
purposes ( section #de;,j1 z a qualifi$ 
facility = purposes ( section #de,q1 z  
en]gy prop]ty = purposes ( section #dh1 
z a qualifi$ inve/m5t = purposes (      
section #dh;,a1 #dh;,b1 or #dh;,c1 or z 

qualifi$ em]g+ en]gy prop]ty = purposes 
( section #dh;,d1 = any taxable ye>4    
7e7 ,em]g+ te*nology ,= purposes ( ?is  
section-- 7#a7 ,9 g5]al ,! t]m em]g+    
te*nology means--  7,a7 any new or      
improv$ p[] conv]sion fuel-bas$         
te*nology-- 7i7 :i*--  7,i7 r$uces      
emission ( air pollutants t c be        
reasonably anticipat$ to endang] public 
heal? or welf>e to bel[ ! volume or rate
 requir$ by ! ,clean ,air ,act1 9 ! case
 ( a type ( facility :i* has significant
 emission ( air pollutants1 or  7,,ii7  
yields at lea/ a #ej p]c5t improvem5t 9 
en]gy effici5cy1 z comp>$ to exi/+      
fuel-bas$ electric g5]at+ comm]cial     
te*nology1 &  7ii7 :i* op]ates ) a      
capacity factor ( at lea/ #ej p]c5t1    
7,b7 any new or improv$ reactor design  
lic5s$ by ! ,nucle> ,regulatory         
,commission :i* produces electricity    
?r\gh nucle> fission or a fusion *a9    
reaction & :i* 7:5 comp>$ to exi/+      
nucle> comm]cial te*nologies7--  7i7    
r$uces ! high-level radioactive wa/e or 

sp5t nucle> fuel p] unit ( en]gy yield1 
7ii7 improves fuel utilization1  7iii7  
decreases core damage frequ5cy or l>ge  
e>ly release frequ5cy by at lea/ a      
factor ( #aj1 or  7iv7 increases !rmal  
effici5cy1  7,c7 any new te*nology or   
new improvem5t to te*nology :i* g5]ates 
electricity f r5ewable en]gy 7z def9$ 9 
section #bjc7;b77#b7 ( ! ,en]gy ,policy 
,act ( #bjje7 & :i* g5]ates at lea/ a   
#be p]c5t increase 9 ! conv]sion        
effici5cy ( ! facility z comp>$ ) !     
comm]cial te*nology ( ! same type z su* 
te*nology :i* is consid]$ to be ! be/ ( 
its type 9 comm]cial use1 or  7,d7      
te*nology :i* ! ,secret>y1 9            
consultation ) ! ,secret>y ( ,en]gy1    
det]m9es w\ld improve en]gy effici5cy or
 conv]sion effici5cy ( electric g5]at+  
comm]cial te*nology by n less ?an #ae   
p]c5t4  7#b7 ,conv]sion effici5cy ,! t]m
 conv]sion effici5cy means ! fraction-- 
7,a7 ! num]ator ( :i* is ! total useful 
electrical or !rmal p[] produc$ by an   
electric g5]at+ facility at normal      

op]at+ rates1 & expect$ to be consum$ 9 
its normal application1 &  7,b7 !       
d5om9ator ( :i* is ! incid5t en]gy1 :e!r
 me*anical1 radiation1 or !rmal en]gy1  
:i* is measurable at ! input ( !        
electric g5]at+ facility4  7#c7 ,en]gy  
effici5cy ,! t]m en]gy effici5cy means !
 fraction-- 7,a7 ! num]ator ( :i* is !  
total useful electrical1 !rmal1 &       
me*anical p[] :i* is produc$ by !       
facility at normal op]at+ rates &       
expect$ to be consum$ 9 its normal      
op]ation1 &  7,b7 ! d5om9ator ( :i* is !
 l[] heat+ value ( ! en]gy s\rces = !   
facility4  7#d7 ,effici5cy basel9e ,n   
less frequ5tly ?an e #aj ye>s1 !        
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy1 %all e/abli% basel9e levels ) 
respect to ! types ( electric g5]at+    
facilities & ! measures ( effici5cy     
describ$ 9 p>agraph 7#a7 :i* a facility 
mu/ exce$ 9 ord] to meet ! requirem5ts (
 su* p>agraph4  7#e7 ,comm]cial         
te*nology ,! t]m comm]cial te*nology    
means a design t has be5 in/all$ 9 & is 

be+ us$ 9 #c or m projects 9 ! ,unit$   
,/ates m>ketplace 9 ! same g5]al        
application z 9 ! electric g5]at+       
facility1 & has be5 9 su* use 9 at lea/ 
#a ( su* projects = a p]iod ( at lea/ #e
 ye>s4  7#f7 ,core damage frequ5cy ,!   
t]m core damage frequ5cy means !        
likelihood t1 giv5 ! way a reactor is   
design$ & op]at$1 an accid5t c\ld cause 
! fuel 9 ! reactor to be damag$4  7#g7  
,l>ge e>ly release frequ5cy ,! t]m l>ge 
e>ly release frequ5cy means ! likelihood
 ( a release into ! environm5t ( a      
suffici5tly l>ge quantity ( fission     
products 9 an e>ly en\gh "t frame to h !
 pot5tial = a prompt fatality4  7f7     
,transf] ( cr$it by c]ta9 public        
entities  7#a7 ,9 g5]al ,if1 ) respect  
to a cr$it "u subsection 7a7 = any      
taxable ye>-- 7,a7 a qualifi$ public    
entity w\ld be ! taxpay] 7b = ?is       
p>agraph71 &  7,b7 su* entity elects !  
application ( ?is p>agraph = su* taxable
 ye> ) respect to all 7or any portion   
specifi$ 9 su* election7 ( su* cr$it1 ! 

eligible project p>tn] specifi$ 9 su*   
election1 & n ! qualifi$ public entity1 
%all be treat$ z ! taxpay] = purposes ( 
?is title ) respect to su* cr$it 7or su*
 portion !re(74  7#b7 ,def9itions ,=    
purposes ( ?is subsection-- 7,a7        
,qualifi$ public entity ,! t]m qualifi$ 
public entity means--  7i7 a ,f$]al1    
,/ate1 or local gov]nm5t entity1 or any 
political subdivision1 ag5cy1 or        
in/rum5tality !re(1  7ii7 a mutual or   
coop]ative electric company describ$ 9  
section #eja7;c77#ab7 or #acha7;a77#b71 
or  7iii7 a n-=-pr(it electric utility  
:i* _h or has receiv$ a loan or loan    
gu>antee "u ! ,rural ,electrification   
,act ( #aicf4  7,b7 ,eligible project   
p>tn] ,! t]m eligible project p>tn]     
means any p]son :o-- 7i7 is responsible 
=1 or p>ticipates 91 ! design or        
con/ruction ( ! qualifi$ production     
facility to :i* ! cr$it "u subsection   
7a7 relates1  7ii7 is a f9ancial        
in/itution provid+ f9anc+ = !           
con/ruction or op]ation ( su* facility1 

or  7iii7 has an own]%ip int]e/ 9 su*   
facility4  7#c7 ,special rules  7,a7    
,application to p>tn]%ips ,9 ! case ( a 
cr$it "u subsection 7a7 :i* is det]m9$  
at ! p>tn]%ip level--  7i7 = purposes ( 
p>agraph 7#a77;,a71 a qualifi$ public   
entity %all be treat$ z ! taxpay] )     
respect to su* entity's di/ributive %>e 
( su* cr$it1 &  7ii7 ! t]m eligible     
project p>tn] %all include any p>tn] ( !
 p>tn]%ip4  7,b7 ,taxable ye> 9 :i*     
cr$it tak5 into acc\nt ,9 ! case ( any  
cr$it 7or portion !re(7 ) respect to :i*
 an election is made "u p>agraph 7#a71  
su* cr$it %all be tak5 into acc\nt 9 !  
fir/ taxable ye> ( ! eligible project   
p>tn] end+ )1 or aft]1 ! qualifi$ public
 entity's taxable ye> ) respect to :i* !
 cr$it 0 det]m9$4  7,c7 ,treatm5t (     
transf] "u private use rules ,= purposes
 ( section #ada7;b77#a71 any b5efit     
d]iv$ by an eligible project p>tn] 9    
connection ) an election "u ?is         
subsection %all n be tak5 into acc\nt z 
a private bus9ess use4  7g7 ,regulations

 ,n lat] ?an #a ye> aft] ! date ( !     
enactm5t ( ?is section1 ! ,secret>y %all
 prescribe su* regulations z may be     
necess>y or appropriate to c>ry out !   
purposes ( ?is section4 ,su* regulations
 %all include a process = mak+          
eligibility c]tifications describ$ 9    
subsection 7d77#a77;,e74  4  7b7 ,cr$it 
all[$ z "p ( g5]al bus9ess cr$it        
,section #ch7;b7 ( su* ,code is am5d$ by
 /rik+ plus at ! end ( p>agraph 7#ca71  
by /rik+ ! p]iod at ! end ( p>agraph    
7#cb7 & ins]t+ 1 plus1 & by add+ at !   
end ! foll[+ new p>agraph3  7#cc7 !     
em]g+ en]gy te*nology production cr$it  
det]m9$ "u section #de,t7a74  4  7c7    
,cl]ical am5dm5t ,! table ( sections =  
subp>t ,d ( "p ,,iv ( sub*apt] ,a (     
*apt] #a ( su* ,code is am5d$ by add+ at
 ! end ! foll[+ new item3  ,sec4 #de,t4 
,em]g+ en]gy te*nology production cr$it4
  4  7d7 ,effective date ,! am5dm5ts    
made by ?is section %all apply to       
electricity produc$ & sold aft] ! date (
 ! enactm5t ( ?is ,act4  #d4            

,modification ( en]gy cr$it  7a7 ,en]gy 
cr$it = en]gy /orage te*nologies  7#a7  
,9 g5]al ,section #dh7;a77#c77;,a7 ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ or at ! end ( clause 7vi71 by  
add+ or at ! end ( clause 7vii71 & by   
add+ at ! end ! foll[+ new clause3      
7viii7 equipm5t :i*--  7,i7 receives1   
/ores1 & deliv]s en]gy us+ batt]ies1    
compress$ air1 pump$ hydrop[]1 hydrog5  
/orage 7includ+ hydrolysis71 !rmal en]gy
 /orage1 reg5]ative fuel cells1         
fly:eels1 capacitors1 sup]conduct+      
magnets1 or o!r te*nologies id5tifi$ by 
! ,secret>y 9 consultation ) ! ,secret>y
 ( ,en]gy1  7,,ii7 has a capacity ( n   
less ?an #e kil[att h\rs1 &  7,,iii7    
receives an allocation ( national       
megawatt capacity f ! ,secret>y "u      
p>agraph 7#h7 equal to ! capacity ( su* 
equipm5t4  4  7#b7 #cj-,p]c5t cr$it     
,section #dh7;a77#b77;,a77i77,,ii7 ( su*
 ,code is am5d$ by /rik+ p>agraph       
7#c77;,a77i7 & ins]t+ clause 7i7 or     
7viii7 ( p>agraph 7#c77;,a74  7#c7      

,national limitation relat+ to en]gy    
/orage prop]ty ,section #dh7;a7 ( su*   
,code is am5d$ by add+ at ! end ! foll[+
 new p>agraph3  7#h7 ,national          
limitation relat+ to en]gy /orage       
prop]ty  7,a7 ,9 g5]al ,! aggregate     
am\nt ( national megawatt capacity      
limitation allocat$ by ! ,secret>y to   
equipm5t describ$ 9 p>agraph            
7#c77;,a77viii7 %all n exce$ #aj1jjj    
megawatts4  7,b7 ,allocation (          
limitation ,! ,secret>y %all allocate ! 
national megawatt capacity limitation 9 
su* mann] z ! ,secret>y may prescribe1 )
 a focus on div]sity ( te*nological     
design4  7,c7 ,regulations ,n lat] ?an  
#f mon?s aft] ! date ( ! enactm5t ( ?is 
p>agraph1 ! ,secret>y %all prescribe su*
 regulations z may be necess>y or       
appropriate to c>ry out ! purposes ( ?is
 p>agraph4 ,su* regulations %all provide
 a process "u :i* ! ,secret>y1 aft]     
consultation ) ! ,secret>y ( ,en]gy1    
%all allocate ! national megawatt       
capacity limitation4  4  7b7 ,transf] ( 

en]gy cr$it by c]ta9 public entities    
,section #dh ( su* ,code is am5d$ by    
add+ at ! end ! foll[+ new subsection3  
7f7 ,transf] ( cr$it by c]ta9 public    
entities  7#a7 ,9 g5]al ,if1 ) respect  
to a cr$it "u subsection 7a7 = any      
taxable ye>--  7,a7 a qualifi$ public   
entity w\ld be ! taxpay] 7b = ?is       
p>agraph71 &  7,b7 su* entity elects !  
application ( ?is p>agraph = su* taxable
 ye> ) respect to all 7or any portion   
specifi$ 9 su* election7 ( su* cr$it1 ! 
eligible project p>tn] specifi$ 9 su*   
election1 & n ! qualifi$ public entity1 
%all be treat$ z ! taxpay] = purposes ( 
?is title ) respect to su* cr$it 7or su*
 portion !re(74  7#b7 ,def9itions ,=    
purposes ( ?is subsection-- 7,a7        
,qualifi$ public entity ,! t]m qualifi$ 
public entity means--  7i7 a ,f$]al1    
,/ate1 or local gov]nm5t entity1 or any 
political subdivision1 ag5cy1 or        
in/rum5tality !re(1  7ii7 a mutual or   
coop]ative electric company describ$ 9  
section #eja7;c77#ab7 or #acha7;a77#b71 

or  7iii7 a n-=-pr(it electric utility  
:i* _h or has receiv$ a loan or loan    
gu>antee "u ! ,rural ,electrification   
,act ( #aicf4  7,b7 ,eligible project   
p>tn] ,! t]m eligible project p>tn]     
means any p]son :o-- 7i7 is responsible 
=1 or p>ticipates 91 ! design or        
con/ruction ( ! en]gy prop]ty to :i* !  
cr$it "u subsection 7a7 relates1  7ii7  
is a f9ancial in/itution provid+ f9anc+ 
= ! con/ruction or op]ation ( su*       
prop]ty1 or  7iii7 has an own]%ip int]e/
 9 su* prop]ty4  7#c7 ,special rules    
7,a7 ,application to p>tn]%ips ,9 ! case
 ( a cr$it "u subsection 7a7 :i* is     
det]m9$ at ! p>tn]%ip level--  7i7 =    
purposes ( p>agraph 7#a77;,a71 a        
qualifi$ public entity %all be treat$ z 
! taxpay] ) respect to su* entity's     
di/ributive %>e ( su* cr$it1 &  7ii7 !  
t]m eligible project p>tn] %all include 
any p>tn] ( ! p>tn]%ip4  7,b7 ,taxable  
ye> 9 :i* cr$it tak5 into acc\nt ,9 !   
case ( any cr$it 7or portion !re(7 )    
respect to :i* an election is made "u   

p>agraph 7#a71 su* cr$it %all be tak5   
into acc\nt 9 ! fir/ taxable ye> ( !    
eligible project p>tn] end+ )1 or aft]1 
! qualifi$ public entity's taxable ye> )
 respect to :i* ! cr$it 0 det]m9$4  7,c7
 ,treatm5t ( transf] "u private use     
rules ,= purposes ( section             
#ada7;b77#a71 any b5efit d]iv$ by an    
eligible project p>tn] 9 connection ) an
 election "u ?is subsection %all n be   
tak5 into acc\nt z a private bus9ess    
use4  4  7c7 ,effective date  7#a7 ,9   
g5]al ,except z o!rwise provid$ 9 ?is   
subsection1 ! am5dm5ts made by ?is      
section %all apply to p]iods aft] ! date
 ( ! enactm5t ( ?is ,act1 9 taxable ye>s
 end+ aft] su* date1 "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  7#b7   
,transf] ( en]gy cr$it by c]ta9 public  
entities ,! am5dm5t made by subsection  
7b7 %all apply to cr$its aris+ 9 taxable
 ye>s end+ aft] ! date ( ! enactm5t (   

?is ,act4