,,ii #aae? ,,congress #a/ ,session ,s4 #ajfh ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,may #h1 #bjag,mr4 ,wyd5 7= himself1 ,mr4 ,s*um]1 ,ms4 ,/ab5[1 ,ms4 ,cantwell1 ,mr4 ,m55dez1 ,mr4 ,c>p]1 ,mr4 ,c>d91 ,mr4 ,b5net1 ,mr4 ,durb91 ,ms4 ,klobu*>1 ,mr4 ,:iteh\se1 ,mrs4 ,%ahe51 ,mrs4 ,gillibr&1 ,mr4 ,coons1 ,mr4 ,s*atz1 ,mr4 ,he9ri*1 ,mr4 ,k+1 ,mr4 ,ka9e1 ,mr4 ,book]1 ,ms4 ,duckwor?1 ,ms4 ,hassan1 & ,ms4 ,cortez ,ma/o7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide tax inc5tives = increas$ inve/m5t 9 clean en]gy4 #a4 ,%ort title2 etc 7a7 ,%ort title ,?is ,act may be cit$ z ! ,clean ,en]gy = ,am]ica ,act4 7b7 ,am5dm5t ( #aihf ,code ,except z o!rwise expressly provid$1 :5ev] 9 ?is ,act an am5dm5t or repeal is express$ 9 t]ms ( an am5dm5t to1 or repeal (1 a section or o!r provision1 ! ref]5ce %all be consid]$ to be made to a section or o!r provision ( ! ,int]nal ,rev5ue ,code ( #aihf4 7c7 ,table ( cont5ts ,! table ( cont5ts ( ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 etc4 ,,title ,i--,clean en]gy tax cr$its ,sec4 #aja4 ,clean en]gy production cr$it4 ,sec4 #ajb4 ,clean en]gy inve/m5t cr$it4 ,sec4 #ajc4 ,ext5sions & modifications ( v>i\s en]gy provisions4 ,,title ,,ii--,clean fuel tax cr$its ,sec4 #bja4 ,clean fuel production cr$it4 ,sec4 #bjb4 ,tempor>y ext5sion ( exi/+ fuel & transportation inc5tives4 ,,title ,,iii--,en]gy ,effici5cy ,inc5tives ,sec4 #cja4 ,cr$it = new en]gy effici5t resid5tial build+s4 ,sec4 #cjb4 ,heat+ & air condition+ replacem5t cr$it4 ,sec4 #cjc4 ,en]gy effici5cy cr$it = exi/+ resid5tial build+s4 ,sec4 #cjd4 ,d$uction = new en]gy effici5t comm]cial build+s4 ,sec4 #cje4 ,en]gy effici5cy d$uction = exi/+ comm]cial build+s4 ,sec4 #cjf4 ,tempor>y ext5sion ( exi/+ en]gy effici5cy inc5tives4 ,,title ,,iv--,clean ,electricity & ,fuel ,bonds ,sec4 #dja4 ,clean en]gy bonds4 ,i ,clean en]gy tax cr$its #aja4 ,clean en]gy production cr$it 7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by add+ at ! end ! foll[+ new section3 #de,s4 ,clean en]gy production cr$it 7a7 ,am\nt ( cr$it 7#a7 ,9 g5]al ,= purposes ( section #ch1 ! clean en]gy production cr$it = any taxable ye> is an am\nt equal to ! product (-- 7,a7 ! applicable cr$it rate 7z det]m9$ "u p>agraph 7#b771 multipli$ by 7,b7 ! kil[att h\rs ( electricity-- 7i7 produc$ by ! taxpay] at a qualifi$ facility1 & 7ii7 7,i7 sold by ! taxpay] to an unrelat$ p]son dur+ ! taxable ye>1 or 7,,ii7 9 ! case ( a qualifi$ facility :i* is equipp$ ) a met]+ device :i* is own$ & op]at$ by an unrelat$ p]son1 sold1 consum$1 or /or$ by ! taxpay] dur+ ! taxable ye>4 7#b7 ,applicable cr$it rate 7,a7 ,9 g5]al 7i7 ,maximum cr$it rate ,except z provid$ 9 clause 7ii71 ! applicable cr$it rate is #a4e c5ts4 7ii7 ,r$uction ( cr$it bas$ on gre5h\se gas emission rate ,! applicable cr$it rate %all be r$uc$ 7b n bel[ z]o7 by an am\nt :i* be>s ! same ratio to ! am\nt 9 effect "u clause 7i7 z ! gre5h\se gas emissions rate = ! qualifi$ facility be>s to #cbe grams ( ,,co#b;e p] ,k,wh4 7,b7 ,r\nd+ ,if any am\nt det]m9$ "u subp>agraph 7,a77ii7 is n a multiple ( #j4a c5t1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #j4a c5t4 7b7 ,gre5h\se gas emissions rate 7#a7 ,9 g5]al ,= purposes ( ?is section1 ! t]m gre5h\se gas emissions rate means ! am\nt ( gre5h\se gases emitt$ into ! atmosph]e by a qualifi$ facility 9 ! production ( electricity1 express$ z grams ( ,,co#b;e p] ,k,wh4 7#b7 ,non-fossil fuel combu/ion & gasification ,9 ! case ( a qualifi$ facility :i* produces electricity ?r\gh combu/ion or gasification ( a non-fossil fuel1 ! gre5h\se gas emissions rate = su* facility %all be equal to ! net rate ( gre5h\se gases emitt$ into ! atmosph]e by su* facility 9 ! production ( electricity1 express$ z grams ( ,,co#b;e p] ,k,wh4 7#c7 ,e/abli%m5t ( safe h>bor = qualifi$ facilities 7,a7 ,9 g5]al ,! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all e/abli% safe-h>bor gre5h\se gas emissions rates = types or categories ( qualifi$ facilities1 :i* a taxpay] may elect to use = purposes ( ?is section4 7,b7 ,r\nd+ ,9 e/abli%+ ! safe-h>bor gre5h\se gas emissions rates = qualifi$ facilities1 ! ,secret>y may r\nd su* rates to ! ne>e/ multiple ( #cb4e grams ( ,,co#b;e p] ,k,wh 7or1 9 ! case ( a gre5h\se gas emissions rate :i* is less ?an #af4be grams ( ,,co#b;e p] ,k,wh1 by r\nd+ su* rate to z]o74 7#d7 ,c>bon capture & seque/ration equipm5t ,= purposes ( ?is subsection1 ! am\nt ( gre5h\se gases emitt$ into ! atmosph]e by a qualifi$ facility 9 ! production ( electricity %all n include any qualifi$ c>bon dioxide 7z def9$ 9 section #dh;,e7c77#c77;,a77 t is captur$ & dispos$ ( by ! taxpay]4 7c7 ,inflation adju/m5t 7#a7 ,9 g5]al ,9 ! case ( a cal5d> ye> beg9n+ aft] #bjah1 ! #a4e c5t am\nt 9 clause 7i7 ( subsection 7a77#b77;,a7 %all be adju/$ by multiply+ su* am\nt by ! inflation adju/m5t factor = ! cal5d> ye> 9 :i* ! sale or use ( ! electricity occurs4 ,if any am\nt z increas$ "u ! prec$+ s5t5ce is n a multiple ( #j4a c5t1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #j4a c5t4 7#b7 ,annual computation ,! ,secret>y %all1 n lat] ?an ,april #a ( ea* cal5d> ye>1 det]m9e & publi% 9 ! ,f$]al ,regi/] ! inflation adju/m5t factor = su* cal5d> ye> 9 accordance ) ?is subsection4 7#c7 ,inflation adju/m5t factor ,! t]m inflation adju/m5t factor means1 ) respect to a cal5d> ye>1 a fraction ! num]ator ( :i* is ! ,,gdp implicit price deflator = ! prec$+ cal5d> ye> & ! d5om9ator ( :i* is ! ,,gdp implicit price deflator = ! cal5d> ye> #aiib4 ,! t]m ,,gdp implicit price deflator means ! mo/ rec5t revision ( ! implicit price deflator = ! gross dome/ic product z comput$ & publi%$ by ! ,dep>tm5t ( ,comm]ce be=e ,m>* #ae ( ! cal5d> ye>4 7d7 ,cr$it phase-,out 7#a7 ,9 g5]al ,if ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy & ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 det]m9es t ! annual gre5h\se gas emissions f electrical production 9 ! ,unit$ ,/ates are equal to or less ?an #fe p]c5t ( ! annual gre5h\se gas emissions f electrical production 9 ! ,unit$ ,/ates = cal5d> ye> #bjag1 ! am\nt ( ! clean en]gy production cr$it "u subsection 7a7 = any qualifi$ facility plac$ 9 s]vice dur+ a cal5d> ye> describ$ 9 p>agraph 7#b7 %all be equal to ! product (-- 7,a7 ! am\nt ( ! cr$it det]m9$ "u subsection 7a7 )\t reg>d to ?is subsection1 multipli$ by 7,b7 ! phase-out p]c5tage "u p>agraph 7#b74 7#b7 ,phase-out p]c5tage ,! phase-out p]c5tage "u ?is p>agraph is equal to-- 7,a7 = a facility plac$ 9 s]vice dur+ ! fir/ cal5d> ye> foll[+ ! cal5d> ye> 9 :i* ! det]m9ation describ$ 9 p>agraph 7#a7 is made1 #ge p]c5t1 7,b7 = a facility plac$ 9 s]vice dur+ ! second cal5d> ye> foll[+ su* det]m9ation ye>1 #ej p]c5t1 7,c7 = a facility plac$ 9 s]vice dur+ ! ?ird cal5d> ye> foll[+ su* det]m9ation ye>1 #be p]c5t1 & 7,d7 = a facility plac$ 9 s]vice dur+ any cal5d> ye> subsequ5t to ! ye> describ$ 9 subp>agraph 7,c71 #j p]c5t4 7e7 ,def9itions ,9 ?is section3 7#a7 ,,co#b;e p] ,k,wh ,! t]m ,,co#b;e p] ,k,wh means1 ) respect to any gre5h\se gas1 ! equival5t c>bon dioxide p] kil[att h\r ( electricity produc$4 7#b7 ,gre5h\se gas ,! t]m gre5h\se gas has ! same mean+ giv5 su* t]m "u section #baa7o77#a77;,g7 ( ! ,clean ,air ,act 7#db ,u4,s4,c4 #gede7o77#a77;,g771 z 9 effect on ! date ( ! enactm5t ( ?is section4 7#c7 ,qualifi$ facility 7,a7 ,9 g5]al ,subject to subp>agraphs 7,b7 & 7,c71 ! t]m qualifi$ facility means a facility :i* is-- 7i7 us$ = ! g5]ation ( electricity1 & 7ii7 orig9ally plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 7,b7 #aj-ye> production cr$it ,= purposes ( ?is section1 a facility %all only be treat$ z a qualifi$ facility dur+ ! #aj-ye> p]iod beg9n+ on ! date ! facility 0 orig9ally plac$ 9 s]vice4 7,c7 ,expansion ( facility2 increm5tal production ,a qualifi$ facility %all include ei!r ( ! foll[+ 9 connection ) a facility describ$ 9 subp>agraph 7,a77i7 t 0 previ\sly plac$ 9 s]vice1 b only to ! ext5t ( ! increas$ am\nt ( electricity produc$ at ! facility by reason ( ! foll[+3 7i7 ,a new unit plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 7ii7 ,any effici5cy improvem5ts or additions ( capacity plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 7,d7 ,coord9ation ) o!r cr$its ,! t]m qualifi$ facility %all n include any facility = :i*-- 7i7 a r5ewable electricity production cr$it det]m9$ "u section #de is all[$ "u section #ch = ! taxable ye> or any prior taxable ye>1 7ii7 an en]gy cr$it det]m9$ "u section #dh is all[$ "u section #ch = ! taxable ye> or any prior taxable ye>1 or 7iii7 a clean en]gy inve/m5t cr$it det]m9$ "u section #dh;,e is all[$ "u section #ch = ! taxable ye> or any prior taxable ye>4 7f7 ,f9al guidance ,n lat] ?an ,janu>y #a1 #bjah1 ! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all issue f9al guidance reg>d+ implem5tation ( ?is section1 includ+ calculation ( gre5h\se gas emission rates = qualifi$ facilities & det]m9ation ( clean en]gy production cr$its "u ?is section4 7g7 ,special rules 7#a7 ,only production 9 ! ,unit$ ,/ates tak5 into acc\nt ,consumption or sales %all be tak5 into acc\nt "u ?is section only ) respect to electricity ! production ( :i* is )9-- 7,a7 ! ,unit$ ,/ates 7)9 ! mean+ ( section #fch7a771 or 7,b7 a possession ( ! ,unit$ ,/ates 7)9 ! mean+ ( section #fch7b774 7#b7 ,comb9$ heat & p[] sy/em prop]ty 7,a7 ,9 g5]al ,= purposes ( subsection 7a77#a77;,b71 ! kil[att h\rs ( electricity produc$ by a taxpay] at a qualifi$ facility %all include any production 9 ! =m ( useful !rmal en]gy by any comb9$ heat & p[] sy/em prop]ty )9 su* facility4 7,b7 ,comb9$ heat & p[] sy/em prop]ty ,= purposes ( ?is p>agraph1 ! t]m comb9$ heat & p[] sy/em prop]ty has ! same mean+ giv5 su* t]m by section #dh7;c77#c7 7)\t reg>d to subp>agraphs 7,a77iv71 7,b71 & 7,d7 !re(74 7,c7 ,conv]sion f ,,btu to ,k,wh 7i7 ,9 g5]al ,= purposes ( subp>agraph 7,a71 ! am\nt ( kil[att h\rs ( electricity produc$ 9 ! =m ( useful !rmal en]gy %all be equal to ! quoti5t (-- 7,i7 ! total useful !rmal en]gy produc$ by ! comb9$ heat & p[] sy/em prop]ty )9 ! qualifi$ facility1 divid$ by 7,,ii7 ! heat rate = su* facility4 7ii7 ,heat rate ,= purposes ( ?is subp>agraph1 ! t]m heat rate means ! am\nt ( en]gy us$ by ! qualifi$ facility to g5]ate #a kil[att h\r ( electricity1 express$ z ,briti% !rmal units p] net kil[att h\r g5]at$4 7#c7 ,production attributable to ! taxpay] ,9 ! case ( a qualifi$ facility 9 :i* m ?an #a p]son has an own]%ip int]e/1 except to ! ext5t provid$ 9 regulations prescrib$ by ! ,secret>y1 production f ! facility %all be allocat$ among su* p]sons 9 proportion to _! respective own]%ip int]e/s 9 ! gross sales f su* facility4 7#d7 ,relat$ p]sons ,p]sons %all be treat$ z relat$ to ea* o!r if su* p]sons w\ld be treat$ z a s+le employ] "u ! regulations prescrib$ "u section #eb7;b74 ,9 ! case ( a corporation :i* is a memb] ( an affiliat$ gr\p ( corporations fil+ a consolidat$ return1 su* corporation %all be treat$ z sell+ electricity to an unrelat$ p]son if su* electricity is sold to su* a p]son by ano!r memb] ( su* gr\p4 7#e7 ,pass-?ru 9 ! case ( e/ates & tru/s ,"u regulations prescrib$ by ! ,secret>y1 rules simil> to ! rules ( subsection 7d7 ( section #eb %all apply4 7#f7 ,allocation ( cr$it to patrons ( agricultural coop]ative 7,a7 ,election to allocate 7i7 ,9 g5]al ,9 ! case ( an eligible coop]ative organization1 any portion ( ! cr$it det]m9$ "u subsection 7a7 = ! taxable ye> may1 at ! election ( ! organization1 be apportion$ among patrons ( ! organization on ! basis ( ! am\nt ( bus9ess done by ! patrons dur+ ! taxable ye>4 7ii7 ,=m & effect ( election ,an election "u clause 7i7 = any taxable ye> %all be made on a timely fil$ return = su* ye>4 ,su* election1 once made1 %all be irrevocable = su* taxable ye>4 ,su* election %all n take effect unless ! organization designates ! apportionm5t z su* 9 a writt5 notice mail$ to its patrons dur+ ! paym5t p]iod describ$ 9 section #achb7;d74 7,b7 ,treatm5t ( organizations & patrons ,! am\nt ( ! cr$it apportion$ to any patrons "u subp>agraph 7,a7-- 7i7 %all n be includ$ 9 ! am\nt det]m9$ "u subsection 7a7 ) respect to ! organization = ! taxable ye>1 & 7ii7 %all be includ$ 9 ! am\nt det]m9$ "u subsection 7a7 = ! fir/ taxable ye> ( ea* patron end+ on or aft] ! la/ day ( ! paym5t p]iod 7z def9$ 9 section #achb7;d77 = ! taxable ye> ( ! organization or1 if e>li]1 = ! taxable ye> ( ea* patron end+ on or aft] ! date on :i* ! patron receives notice f ! coop]ative ( ! apportionm5t4 7,c7 ,special rules = decrease 9 cr$its = taxable ye> ,if ! am\nt ( ! cr$it ( a coop]ative organization det]m9$ "u subsection 7a7 = a taxable ye> is less ?an ! am\nt ( su* cr$it %[n on ! return ( ! coop]ative organization = su* ye>1 an am\nt equal to ! excess (-- 7i7 su* r$uction1 ov] 7ii7 ! am\nt n apportion$ to su* patrons "u subp>agraph 7,a7 = ! taxable ye>1 %all be treat$ z an increase 9 tax impos$ by ?is *apt] on ! organization4 ,su* increase %all n be treat$ z tax impos$ by ?is *apt] = purposes ( det]m9+ ! am\nt ( any cr$it "u ?is *apt]4 7,d7 ,eligible coop]ative def9$ ,= purposes ( ?is section1 ! t]m eligible coop]ative means a coop]ative organization describ$ 9 section #acha7;a7 :i* is own$ m ?an #ej p]c5t by agricultural produc]s or by entities own$ by agricultural produc]s4 ,= ?is purpose an entity own$ by an agricultural produc] is "o t is m ?an #ej p]c5t own$ by agricultural produc]s4 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #ch7;b7 is am5d$-- 7,a7 9 p>agraph 7#ce71 by /rik+ plus at ! end1 7,b7 9 p>agraph 7#cf71 by /rik+ ! p]iod at ! end & ins]t+ 1 plus1 & 7,c7 by add+ at ! end ! foll[+ new p>agraph3 7#cg7 ! clean en]gy production cr$it det]m9$ "u section #de,s7a74 4 7#b7 ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #de,s4 ,clean en]gy production cr$it4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to facilities plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 #ajb4 ,clean en]gy inve/m5t cr$it 7a7 ,bus9ess cr$it 7#a7 ,9 g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] section #dh;,d ! foll[+ new section3 #dh;,e4 ,clean en]gy inve/m5t cr$it 7a7 ,inve/m5t cr$it = qualifi$ prop]ty 7#a7 ,9 g5]al ,= purposes ( section #df1 ! clean en]gy inve/m5t cr$it = any taxable ye> is an am\nt equal to ! sum (-- 7,a7 ! clean en]gy p]c5tage ( ! qualifi$ inve/m5t = su* taxable ye> ) respect to any qualifi$ facility1 plus 7,b7 #cj p]c5t ( ! qualifi$ inve/m5t = su* taxable ye> ) respect to-- 7i7 qualifi$ c>bon capture & seque/ration equipm5t1 & 7ii7 en]gy /orage prop]ty4 7#b7 ,clean en]gy p]c5tage 7,a7 ,9 g5]al 7i7 ,maximum p]c5tage ,except z provid$ 9 clause 7ii71 ! clean en]gy p]c5tage is #cj p]c5t4 7ii7 ,r$uction ( p]c5tage bas$ on gre5h\se gas emissions rate ,! clean en]gy p]c5tage %all be r$uc$ 7b n bel[ z]o7 by an am\nt :i* be>s ! same ratio to #cj p]c5t z ! anticipat$ gre5h\se gas emissions rate = ! qualifi$ facility be>s to #cbe grams ( ,,co#b;e p] ,k,wh4 7,b7 ,r\nd+ ,if any am\nt det]m9$ "u subp>agraph 7,a77ii7 is n a multiple ( #a p]c5t1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #a p]c5t4 7#c7 ,coord9ation ) rehabilitation cr$it ,! clean en]gy p]c5tage %all n apply to t portion ( ! basis ( any prop]ty :i* is attributable to qualifi$ rehabilitation exp5ditures 7z def9$ 9 section #dg7;c77#b774 7b7 ,qualifi$ inve/m5t ) respect to any qualifi$ facility 7#a7 ,9 g5]al ,= purposes ( subsection 7a77#a77;,a71 ! qualifi$ inve/m5t ) respect to any qualifi$ facility = any taxable ye> is ! basis ( any qualifi$ prop]ty plac$ 9 s]vice by ! taxpay] dur+ su* taxable ye> :i* is "p ( a qualifi$ facility4 7#b7 ,qualifi$ prop]ty ,! t]m qualifi$ prop]ty means prop]ty-- 7,a7 :i* is-- 7i7 tangible p]sonal prop]ty1 or 7ii7 o!r tangible prop]ty 7n includ+ a build+ or its /ructural compon5ts71 b only if su* prop]ty is us$ z an integral "p ( ! qualifi$ facility1 7,b7 ) respect to :i* depreciation 7or amortization 9 lieu ( depreciation7 is all[able1 7,c7 :i* is con/ruct$1 recon/ruct$1 erect$1 or acquir$ by ! taxpay]1 & 7,d7 ! orig9al use ( :i* comm5ces ) ! taxpay]4 7#c7 ,qualifi$ facility ,! t]m qualifi$ facility has ! same mean+ giv5 su* t]m "u section #de,s7e77#c7 7)\t reg>d to subp>agraphs 7,b7 & 7,d7 !re(74 ,su* t]m %all n include any facility = :i* a r5ewable electricity production cr$it "u section #de or an en]gy cr$it det]m9$ "u section #dh is all[$ "u section #ch = ! taxable ye> or any prior taxable ye>4 7c7 ,qualifi$ inve/m5t ) respect to qualifi$ c>bon capture & seque/ration equipm5t 7#a7 ,9 g5]al ,= purposes ( subsection 7a77#a77;,b77i71 ! qualifi$ inve/m5t ) respect to qualifi$ c>bon capture & seque/ration equipm5t = any taxable ye> is ! basis ( any qualifi$ c>bon capture & seque/ration equipm5t plac$ 9 s]vice by ! taxpay] dur+ su* taxable ye>4 7#b7 ,qualifi$ c>bon capture & seque/ration equipm5t ,! t]m qualifi$ c>bon capture & seque/ration equipm5t means prop]ty-- 7,a7 in/all$ at a facility plac$ 9 s]vice be=e ,janu>y #a1 #bjai1 :i* produces electricity1 7,b7 :i* results 9 at lea/ a #ej p]c5t r$uction 9 ! c>bon dioxide emissions rate at ! facility1 z comp>$ to su* rate be=e in/allation ( su* equipm5t1 ?r\gh ! capture & disposal ( qualifi$ c>bon dioxide 7z def9$ 9 p>agraph 7#c77;,a771 7,c7 ) respect to :i* depreciation is all[able1 7,d7 :i* is con/ruct$1 recon/ruct$1 erect$1 or acquir$ by ! taxpay]1 & 7,e7 ! orig9al use ( :i* comm5ces ) ! taxpay]4 7#c7 ,qualifi$ c>bon dioxide 7,a7 ,9 g5]al ,! t]m qualifi$ c>bon dioxide means c>bon dioxide captur$ f an indu/rial s\rce :i*-- 7i7 w\ld o!rwise be releas$ into ! atmosph]e z indu/rial emission ( gre5h\se gas1 7ii7 is measur$ at ! s\rce ( capture & v]ifi$ at ! po9t ( disposal or injection1 7iii7 is dispos$ ( by ! taxpay] 9 secure geological /orage1 & 7iv7 is captur$ & dispos$ ( )9 ! ,unit$ ,/ates 7)9 ! mean+ ( section #fch7a77 or a possession ( ! ,unit$ ,/ates 7)9 ! mean+ ( section #fch7b774 7,b7 ,secure geological /orage ,! t]m secure geological /orage has ! same mean+ giv5 to su* t]m "u section #de,q7d77#b74 7d7 ,qualifi$ inve/m5t ) respect to en]gy /orage prop]ty 7#a7 ,9 g5]al ,= purposes ( subsection 7a77#a77;,b77ii71 ! qualifi$ inve/m5t ) respect to en]gy /orage prop]ty = any taxable ye> is ! basis ( any en]gy /orage prop]ty plac$ 9 s]vice by ! taxpay] dur+ su* taxable ye>4 7#b7 ,en]gy /orage prop]ty ,! t]m en]gy /orage prop]ty means prop]ty-- 7,a7 :i* receives1 /ores1 & deliv]s electricity or en]gy = conv]sion to electricity1 provid$ t su* electricity is-- 7i7 sold by ! taxpay] to an unrelat$ p]son1 or 7ii7 9 ! case ( a facility :i* is equipp$ ) a met]+ device :i* is own$ & op]at$ by an unrelat$ p]son1 sold or consum$ by ! taxpay]1 7,b7 ) respect to :i* depreciation is all[able1 7,c7 :i* is con/ruct$1 recon/ruct$1 erect$1 or acquir$ by ! taxpay]1 7,d7 ! orig9al use ( :i* comm5ces ) ! taxpay]1 & 7,e7 :i* is plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 7e7 ,gre5h\se gas emissions rate 7#a7 ,9 g5]al ,= purposes ( ?is section1 ! t]m gre5h\se gas emissions rate has ! same mean+ giv5 su* t]m "u subsection 7b7 ( section #de,s4 7#b7 ,e/abli%m5t ( safe h>bor = qualifi$ prop]ty 7,a7 ,9 g5]al ,! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all e/abli% safe-h>bor gre5h\se gas emissions rates = types or categories ( qualifi$ prop]ty :i* are "p ( a qualifi$ facility1 :i* a taxpay] may elect to use = purposes ( ?is section4 7,b7 ,r\nd+ ,9 e/abli%+ ! safe-h>bor gre5h\se gas emissions rates = qualifi$ prop]ty1 ! ,secret>y may r\nd su* rates to ! ne>e/ multiple ( #cb4e grams ( ,,co#b;e p] ,k,wh 7or1 9 ! case ( a gre5h\se gas emissions rate :i* is less ?an #af4be grams ( ,,co#b;e p] ,k,wh1 by r\nd+ su* rate to z]o74 7f7 ,c]ta9 progress exp5diture rules made applicable ,rules simil> to ! rules ( subsections 7c77#d7 & 7d7 ( section #df 7z 9 effect on ! day be=e ! date ( ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij7 %all apply = purposes ( subsection 7a74 7g7 ,cr$it phase-,out 7#a7 ,9 g5]al ,if ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy & ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 det]m9es t ! annual gre5h\se gas emissions f electrical production 9 ! ,unit$ ,/ates are equal to or less ?an #fe p]c5t ( ! annual gre5h\se gas emissions f electrical production 9 ! ,unit$ ,/ates = cal5d> ye> #bjag1 ! am\nt ( ! clean en]gy inve/m5t cr$it "u subsection 7a7 = any qualifi$ facility1 qualifi$ c>bon capture & seque/ration equipm5t1 or en]gy /orage prop]ty plac$ 9 s]vice dur+ a cal5d> ye> describ$ 9 p>agraph 7#b7 %all be equal to ! product (-- 7,a7 ! am\nt ( ! cr$it det]m9$ "u subsection 7a7 )\t reg>d to ?is subsection1 multipli$ by 7,b7 ! phase-out p]c5tage "u p>agraph 7#b74 7#b7 ,phase-out p]c5tage ,! phase-out p]c5tage "u ?is p>agraph is equal to-- 7,a7 = a facility or prop]ty plac$ 9 s]vice dur+ ! fir/ cal5d> ye> foll[+ ! cal5d> ye> 9 :i* ! det]m9ation describ$ 9 p>agraph 7#a7 is made1 #ge p]c5t1 7,b7 = a facility or prop]ty plac$ 9 s]vice dur+ ! second cal5d> ye> foll[+ su* det]m9ation ye>1 #ej p]c5t1 7,c7 = a facility or prop]ty plac$ 9 s]vice dur+ ! ?ird cal5d> ye> foll[+ su* det]m9ation ye>1 #be p]c5t1 & 7,d7 = a facility or prop]ty plac$ 9 s]vice dur+ any cal5d> ye> subsequ5t to ! ye> describ$ 9 subp>agraph 7,c71 #j p]c5t4 7h7 ,def9itions ,9 ?is section3 7#a7 ,,co#b;e p] ,k,wh ,! t]m ,,co#b;e p] ,k,wh has ! same mean+ giv5 su* t]m "u section #de,s7e77#a74 7#b7 ,gre5h\se gas ,! t]m gre5h\se gas has ! same mean+ giv5 su* t]m "u section #de,s7e77#b74 7i7 ,recapture ( cr$it ,= purposes ( section #ej1 if ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy det]m9es t-- 7#a7 ! gre5h\se gas emissions rate = a qualifi$ facility is significantly high] ?an ! anticipat$ gre5h\se gas emissions rate claim$ by ! taxpay] = purposes ( ! clean en]gy inve/m5t cr$it "u ?is section1 or 7#b7 ) respect to any qualifi$ c>bon capture & seque/ration equipm5t in/all$ 9 a facility1 ! c>bon dioxide emissions f su* facility cease to be captur$ or dispos$ ( 9 a mann] consi/5t ) ! requirem5ts ( subsection 7c71 ! facility or equipm5t %all cease to be inve/m5t cr$it prop]ty 9 ! taxable ye> 9 :i* ! det]m9ation is made4 7j7 ,f9al guidance ,n lat] ?an ,janu>y #a1 #bjah1 ! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all issue f9al guidance reg>d+ implem5tation ( ?is section1 includ+ calculation ( gre5h\se gas emission rates = qualifi$ facilities & det]m9ation ( clean en]gy inve/m5t cr$its "u ?is section4 4 7#b7 ,con=m+ am5dm5ts 7,a7 ,section #df is am5d$ by ins]t+ a comma at ! end ( p>agraph 7#d71 by /rik+ 8&0 at ! end ( p>agraph 7#e71 by /rik+ ! p]iod at ! end ( p>agraph 7#f7 & ins]t+ 81 &01 & by add+ at ! end ! foll[+ new p>agraph3 7#g7 ! clean en]gy inve/m5t cr$it4 4 7,b7 ,section #di7;a77#a77;,c7 is am5d$ by /rik+ 8&0 at ! end ( clause 7v71 by /rik+ ! p]iod at ! end ( clause 7vi7 & ins]t+ a comma1 & by add+ at ! end ! foll[+ new clauses3 7vii7 ! basis ( any qualifi$ prop]ty :i* is "p ( a qualifi$ facility "u section #dh;,e1 7viii7 ! basis ( any qualifi$ c>bon capture & seque/ration equipm5t "u section #dh;,e1 & 7ix7 ! basis ( any en]gy /orage prop]ty "u section #dh;,e4 4 7,c7 ,section #ej7;a77#b77;,e7 is am5d$ by ins]t+ or #dh;,e7e7 aft] section #dh7;b74 7,d7 ,! table ( sections = subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #dh;,d ! foll[+ new item3 #dh;,e4 ,clean en]gy inve/m5t cr$it4 4 7#c7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjah1 "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 7b7 ,individual cr$it 7#a7 ,9 g5]al ,section #be;,d is am5d$ to read z foll[s3 #be;,d4 ,clean resid5tial en]gy cr$it 7a7 ,all[ance ( cr$it 7#a7 ,9 g5]al ,9 ! case ( an individual1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to ! sum (-- 7,a7 ! clean en]gy p]c5tage ( ! exp5ditures made by ! taxpay] = qualifi$ prop]ty :i* is-- 7i7 = use 9 a dwell+ unit :i* is locat$ 9 ! ,unit$ ,/ates & us$ z a resid5ce by ! taxpay]1 & 7ii7 plac$ 9 s]vice dur+ su* taxable ye>1 plus 7,b7 #cj p]c5t ( ! exp5ditures made by ! taxpay] = en]gy /orage prop]ty :i* is-- 7i7 = use 9 a dwell+ unit :i* is locat$ 9 ! ,unit$ ,/ates & us$ z a resid5ce by ! taxpay]1 & 7ii7 plac$ 9 s]vice dur+ su* taxable ye>4 7#b7 ,clean en]gy p]c5tage 7,a7 ,9 g5]al 7i7 ,maximum p]c5tage ,except z provid$ 9 clause 7ii71 ! clean en]gy p]c5tage is #cj p]c5t4 7ii7 ,r$uction ( p]c5tage bas$ on gre5h\se gas emissions rate ,! clean en]gy p]c5tage %all be r$uc$ 7b n bel[ z]o7 by an am\nt :i* be>s ! same ratio to #cj p]c5t z ! anticipat$ gre5h\se gas emissions rate = ! qualifi$ prop]ty be>s to #cbe grams ( ,,co#b;e p] ,k,wh4 7,b7 ,r\nd+ ,if any am\nt det]m9$ "u subp>agraph 7,a77ii7 is n a multiple ( #a p]c5t1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #a p]c5t4 7,c7 ,def9itions ,= purposes ( ?is section1 ! t]ms gre5h\se gas emissions rate & ,,co#b;e p] ,k,wh h ! same mean+s giv5 su* t]ms "u subsections 7b7 & 7e77#a7 ( section #de,s1 respectively4 7#c7 ,e/abli%m5t ( safe h>bor = qualifi$ prop]ty 7,a7 ,9 g5]al ,! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all e/abli% safe-h>bor gre5h\se gas emissions rates = types or categories ( qualifi$ prop]ty :i* are = use 9 a dwell+ unit1 :i* a taxpay] may elect to use = purposes ( ?is section4 7,b7 ,r\nd+ ,9 e/abli%+ ! safe-h>bor gre5h\se gas emissions rates = qualifi$ prop]ty1 ! ,secret>y may r\nd su* rates to ! ne>e/ multiple ( #cb4e grams ( ,,co#b;e p] ,k,wh 7or1 9 ! case ( a gre5h\se gas emissions rate :i* is less ?an #af4be grams ( ,,co#b;e p] ,k,wh1 by r\nd+ su* rate to z]o74 7b7 ,qualifi$ prop]ty ,! t]m qualifi$ prop]ty means prop]ty-- 7#a7 :i* is tangible p]sonal prop]ty1 7#b7 :i* is us$ = ! g5]ation ( electricity1 7#c7 :i* is con/ruct$1 recon/ruct$1 erect$1 or acquir$ by ! taxpay]1 7#d7 ! orig9al use ( :i* comm5ces ) ! taxpay]1 & 7#e7 :i* is orig9ally plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 7c7 ,en]gy /orage prop]ty ,! t]m en]gy /orage prop]ty means prop]ty :i*-- 7#a7 receives1 /ores1 & deliv]s electricity or en]gy = conv]sion to electricity :i* is consum$ by ! taxpay]1 & 7#b7 is equipp$ ) a met]+ device :i* is own$ & op]at$ by an unrelat$ p]son4 7d7 ,c>ry=w>d ( unus$ cr$it ,if ! cr$it all[able "u subsection 7a7 exce$s ! limitation impos$ by section #bf7;a7 = su* taxable ye> r$uc$ by ! sum ( ! cr$its all[able "u ?is subp>t 7o!r ?an ?is section71 su* excess %all be c>ri$ to ! succe$+ taxable ye> & add$ to ! cr$it all[able "u subsection 7a7 = su* succe$+ taxable ye>4 7e7 ,cr$it phase-,out 7#a7 ,9 g5]al ,if ! ,secret>y det]m9es t ! annual gre5h\se gas emissions f electrical production 9 ! ,unit$ ,/ates are equal to or less ?an ! p]c5tage specifi$ 9 section #dh;,e7g71 ! am\nt ( ! cr$it all[able "u subsection 7a7 = any qualifi$ prop]ty or en]gy /orage prop]ty plac$ 9 s]vice dur+ a cal5d> ye> describ$ 9 p>agraph 7#b7 %all be equal to ! product (-- 7,a7 ! am\nt ( ! cr$it det]m9$ "u subsection 7a7 )\t reg>d to ?is subsection1 multipli$ by 7,b7 ! phase-out p]c5tage "u p>agraph 7#b74 7#b7 ,phase-out p]c5tage ,! phase-out p]c5tage "u ?is p>agraph is equal to-- 7,a7 = prop]ty plac$ 9 s]vice dur+ ! fir/ cal5d> ye> foll[+ ! cal5d> ye> 9 :i* ! det]m9ation describ$ 9 p>agraph 7#a7 is made1 #ge p]c5t1 7,b7 = prop]ty plac$ 9 s]vice dur+ ! second cal5d> ye> foll[+ su* det]m9ation ye>1 #ej p]c5t1 7,c7 = prop]ty plac$ 9 s]vice dur+ ! ?ird cal5d> ye> foll[+ su* det]m9ation ye>1 #be p]c5t1 & 7,d7 = prop]ty plac$ 9 s]vice dur+ any cal5d> ye> subsequ5t to ! ye> describ$ 9 subp>agraph 7,c71 #j p]c5t4 7f7 ,special rules ,= purposes ( ?is section3 7#a7 ,labor co/s ,exp5ditures = labor co/s prop]ly allocable to ! onsite prep>ation1 assembly1 or orig9al in/allation ( ! qualifi$ prop]ty or en]gy /orage prop]ty & = pip+ or wir+ to int]connect su* prop]ty to ! dwell+ unit %all be tak5 into acc\nt = purposes ( ?is section4 7#b7 ,t5ant-/ockhold] 9 coop]ative h\s+ corporation ,9 ! case ( an individual :o is a t5ant-/ockhold] 7z def9$ 9 section #baf7 9 a coop]ative h\s+ corporation 7z def9$ 9 su* section71 su* individual %all be treat$ z hav+ made 8 t5ant-/ockhold]'s proportionate %>e 7z def9$ 9 section #baf7;b77#c77 ( any exp5ditures ( su* corporation4 7#c7 ,condom9iums 7,a7 ,9 g5]al ,9 ! case ( an individual :o is a memb] ( a condom9ium managem5t association ) respect to a condom9ium :i* ! individual owns1 su* individual %all be treat$ z hav+ made ! individual's proportionate %>e ( any exp5ditures ( su* association4 7,b7 ,condom9ium managem5t association ,= purposes ( ?is p>agraph1 ! t]m condom9ium managem5t association means an organization :i* meets ! requirem5ts ( p>agraph 7#a7 ( section #ebh7;c7 7o!r ?an subp>agraph 7,e7 !re(7 ) respect to a condom9ium project sub/antially all ( ! units ( :i* are us$ z resid5ces4 7#d7 ,allocation 9 c]ta9 cases ,if less ?an #hj p]c5t ( ! use ( a prop]ty is = nonbus9ess purposes1 only t portion ( ! exp5ditures = su* prop]ty :i* is prop]ly allocable to use = nonbus9ess purposes %all be tak5 into acc\nt4 7g7 ,basis adju/m5t ,= purposes ( ?is subtitle1 if a cr$it is all[$ "u ?is section = any exp5ditures ) respect to any prop]ty1 ! increase 9 ! basis ( su* prop]ty :i* w\ld 7b = ?is subsection7 result f su* exp5ditures %all be r$uc$ by ! am\nt ( ! cr$it s all[$4 7h7 ,f9al guidance ,n lat] ?an ,janu>y #a1 #bjah1 ! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all issue f9al guidance reg>d+ implem5tation ( ?is section1 includ+ calculation ( gre5h\se gas emission rates = qualifi$ prop]ty & det]m9ation ( resid5tial clean en]gy prop]ty cr$its "u ?is section4 4 7#b7 ,con=m+ am5dm5ts 7,a7 ,p>agraph 7#a7 ( section #de7;d7 is am5d$ by /rik+ ,su* t]m & all t foll[s ?r\gh ! p]iod & ins]t+ ! foll[+3 ,su* t]m %all n include any facility ) respect to :i* any exp5ditures = qualifi$ prop]ty 7z def9$ 9 subsection 7b7 ( section #be;,d7 :i* uses w9d to produce electricity is tak5 into acc\nt 9 det]m9+ ! cr$it "u su* section44 7,b7 ,p>agraph 7#cd7 ( section #ajaf7;a7 is am5d$ by /rik+ section #be;,d7f7 & ins]t+ section #be;,d7h74 7,c7 ,! item relat+ to section #be;,d 9 ! table ( cont5ts = subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ to read z foll[s3 ,sec4 #be;,d4 ,clean resid5tial en]gy cr$it4 4 7#c7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 #ajc4 ,ext5sions & modifications ( v>i\s en]gy provisions 7a7 ,resid5tial en]gy effici5t prop]ty 7#a7 ,9 g5]al ,subsection 7h7 ( section #be;,d is am5d$ by /rik+ ,decemb] #ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4 7#b7 ,elim9ation ( phase\t ,section #be;,d1 z am5d$ by p>agraph 7#a71 is am5d$-- 7,a7 9 p>agraphs 7#a7 & 7#b7 ( subsection 7a71 by /rik+ ! applicable p]c5tage ea* place x appe>s & ins]t+ #cj p]c5t1 7,b7 9 subsection 7h71 by /rik+ 7,decemb] #ca1 #bjba1 9 ! case ( any qualifi$ sol> electric prop]ty exp5ditures & qualifi$ sol> wat] heat+ prop]ty exp5ditures71 7,c7 by /rik+ subsection 7g71 & 7,d7 by r$esignat+ subsection 7h7 z subsection 7g74 7#c7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjaf4 7b7 ,electricity produc$ f c]ta9 r5ewable res\rces 7#a7 ,9 g5]al ,! foll[+ provisions ( section #de7;d7 are ea* am5d$ by /rik+ ,janu>y #a1 #bjag ea* place x appe>s & ins]t+ ,janu>y #a1 #bjai3 7,a7 ,p>agraph 7#b77;,a74 7,b7 ,p>agraph 7#c77;,a74 7,c7 ,p>agraph 7#d77;,b74 7,d7 ,p>agraph 7#f74 7,e7 ,p>agraph 7#g74 7,f7 ,p>agraph 7#i74 7,g7 ,p>agraph 7#aa77;,b74 7#b7 ,t]m9ation ( half-cr$it rate ,subp>agraph 7,a7 ( section #de7;b77#d7 is am5d$ by ins]t+ & be=e #bjag aft] aft] #bjjc4 7#c7 ,effective date ,! am5dm5ts made by ?is subsection %all take effect on ,janu>y #a1 #bjag4 7c7 ,cr$it = production f advanc$ nucle> p[] facilities ,section #de;,j7d77#a77;,b7 is am5d$ by /rik+ #bjba & ins]t+ #bjai4 7d7 ,repeal ( en]gy effici5t appliance cr$it 7#a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( subtitle ,a is am5d$ by /rik+ section #de,m4 7#b7 ,con=m+ am5dm5ts 7,a7 ,section #ch7;b7 is am5d$ by /rik+ p>agraph 7#bd74 7,b7 ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( subtitle ,a is am5d$ by /rik+ ! item relat+ to section #de,m4 7#c7 ,effective date ,! am5dm5ts made by ?is subsection %all take effect on ! date ( ! enactm5t ( ?is ,act4 7e7 ,cr$it = c>bon dioxide seque/ration ,section #de,q7c7 is am5d$-- 7#a7 9 p>agraph 7#b71 by /rik+ & at ! end1 7#b7 9 p>agraph 7#c71 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & 7#c7 by add+ at ! end ! foll[+ new p>agraph3 7#d7 :i* is plac$ 9 s]vice be=e ,janu>y #a1 #bjai4 4 7f7 ,elim9ation ( phase\t ( cr$its = w9d facilities & sol> en]gy prop]ty 7#a7 ,w9d facilities 7,a7 ,9 g5]al ,p>agraph 7#a7 ( section #de7;d7 is am5d$ by /rik+ ,janu>y #a1 #bjbj & ins]t+ ,janu>y #a1 #bjai4 7,b7 ,phase\t ,subsection 7b7 ( section #de is am5d$ by /rik+ p>agraph 7#e74 7,c7 ,qualifi$ inve/m5t cr$it facility 7i7 ,9 g5]al ,section #dh7;a77#e77;,c77ii7 is am5d$ by /rik+ ,janu>y #a1 #bjag & all t foll[s ?r\gh section #de7;d77 & ins]t+ ,janu>y #a1 #bjai4 7ii7 ,phase\t ,p>agraph 7#e7 ( section #dh7;a7 is am5d$ by /rik+ subp>agraph 7,e74 7,d7 ,effective date ,! am5dm5ts made by ?is p>agraph %all take effect on ,janu>y #a1 #bjag4 7#b7 ,sol> en]gy prop]ty 7,a7 ,9 g5]al ,subclause 7,,ii7 ( section #dh7;a77#b77;,a77i7 is am5d$ by /rik+ prop]ty ! con/ruction ( :i* beg9s be=e ,janu>y #a1 #bjbb & ins]t+ p]iods end+ be=e ,janu>y #a1 #bjai4 7,b7 ,phase\t ,subsection 7a7 ( section #dh is am5d$ by /rik+ p>agraph 7#f74 7,c7 ,con=m+ am5dm5t ,subp>agraph 7,a7 ( section #dh7;a77#b7 is am5d$ by /rik+ ,except z provid$ 9 p>agraph 7#f71 ! en]gy p]c5tage & ins]t+ ,! en]gy p]c5tage4 7,d7 ,effective date ,! am5dm5ts made by ?is p>agraph %all take effect on ,janu>y #a1 #bjag4 7g7 ,en]gy cr$it 7#a7 ,sol> en]gy prop]ty ,section #dh7;a77#c77;,a7 is am5d$-- 7,a7 9 clause 7i71 by ins]t+ b only ) respect to p]iods end+ be=e ,janu>y #a1 #bjai aft] swimm+ pool11 & 7,b7 9 clause 7ii71 by /rik+ ,janu>y #a1 #bjag & ins]t+ ,janu>y #a1 #bjai4 7#b7 ,geo!rmal en]gy prop]ty ,section #dh7;a77#c77;,a77iii7 is am5d$ by ins]t+ ) respect to p]iods end+ be=e ,janu>y #a1 #bjai1 & aft] b only4 7#c7 ,!rmal en]gy prop]ty ,section #dh7;a77#c77;,a77vii7 is am5d$ by /rik+ ,janu>y #a1 #bjag & ins]t+ ,janu>y #a1 #bjai4 7#d7 ,qualifi$ fuel cell prop]ty ,section #dh7;c77#a77;,d7 is am5d$ by /rik+ ,decemb] #ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4 7#e7 ,qualifi$ microturb9e prop]ty ,section #dh7;c77#b77;,d7 is am5d$ by /rik+ ,decemb] #ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4 7#f7 ,comb9$ heat & p[] sy/em prop]ty ,section #dh7;c77#c77;,a77iv7 is am5d$ by /rik+ ,janu>y #a1 #bjag & ins]t+ ,janu>y #a1 #bjai4 7#g7 ,qualifi$ small w9d en]gy prop]ty ,section #dh7;c77#d77;,c7 is am5d$ by /rik+ ,decemb] #ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4 7h7 ,qualify+ advanc$ en]gy project cr$it 7#a7 ,9 g5]al ,section #dh;,c is am5d$-- 7,a7 by r$esignat+ subsection 7e7 z subsection 7f71 & 7,b7 by ins]t+ aft] subsection 7d7 ! foll[+ new subsection3 7e7 ,additional qualify+ advanc$ en]gy program 7#a7 ,e/abli%m5t 7,a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is subsection1 ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy1 %all e/abli% an additional qualify+ advanc$ en]gy project program to consid] & aw>d c]tifications = qualifi$ inve/m5ts eligible = cr$its "u ?is section to qualify+ advanc$ en]gy project sponsors4 7,b7 ,limitation ,! total am\nt ( cr$its t may be allocat$ "u ! program describ$ 9 subp>agraph 7,a7 %all n exce$ #e1jjj1jjj1jjj4 7#b7 ,c]tification 7,a7 ,application p]iod ,ea* applicant = c]tification "u ?is p>agraph %all submit an application conta9+ su* in=mation z ! ,secret>y may require dur+ ! #b-ye> p]iod beg9n+ on ! date ! ,secret>y e/abli%es ! program "u p>agraph 7#a74 7,b7 ,"t to meet crit]ia = c]tification ,ea* applicant = c]tification %all h #a ye> f ! date ( acceptance by ! ,secret>y ( ! application dur+ :i* to provide to ! ,secret>y evid5ce t ! requirem5ts ( ! c]tification h be5 met4 7,c7 ,p]iod ( issuance ,an applicant :i* receives a c]tification %all h #c ye>s f ! date ( issuance ( ! c]tification 9 ord] to place ! project 9 s]vice & if su* project is n plac$ 9 s]vice by t "t p]iod1 !n ! c]tification %all no long] be valid4 7#c7 ,selection crit]ia ,9 det]m9+ :i* qualify+ advanc$ en]gy projects to c]tify "u ?is section1 ! ,secret>y %all consid] ! same crit]ia describ$ 9 subsection 7d77#c74 7#d7 ,review & r$i/ribution 7,a7 ,review ,n lat] ?an #d ye>s aft] ! date ( enactm5t ( ?is subsection1 ! ,secret>y %all review ! cr$its allocat$ pursuant to ?is subsection z ( su* date4 7,b7 ,r$i/ribution ,! ,secret>y may reallocate cr$its aw>d$ "u ?is section if ! ,secret>y det]m9es t-- 7i7 !re is an insuffici5t quantity ( qualify+ applications = c]tification p5d+ at ! "t ( ! review1 or 7ii7 any c]tification made pursuant to p>agraph 7#b7 has be5 revok$ pursuant to p>agraph 7#b77;,b7 because ! project subject to ! c]tification has be5 delay$ z a result ( ?ird-p>ty opposition or litigation to ! propos$ project4 7,c7 ,reallocation ,if ! ,secret>y det]m9es t cr$its "u ?is section are available = reallocation pursuant to ! requirem5ts set =? 9 p>agraph 7#b71 ! ,secret>y is au?oriz$ to conduct an additional program = applications = c]tification4 7#e7 ,disclosure ( allocations ,! ,secret>y %all1 ^u mak+ a c]tification "u ?is subsection1 publicly disclose ! id5tity ( ! applicant & ! am\nt ( ! cr$it ) respect to su* applicant4 4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to p]iods aft] ! date ( ! enactm5t ( ?is ,act1 "u rules simil> to ! rules ( section #dh7m7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z 9 effect on ! day be=e ! date ( ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij74 ,,ii ,clean fuel tax cr$its #bja4 ,clean fuel production cr$it 7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by section #aja1 is am5d$ by add+ at ! end ! foll[+ new section3 #de,t4 ,clean fuel production cr$it 7a7 ,am\nt ( cr$it 7#a7 ,9 g5]al ,= purposes ( section #ch1 ! clean fuel production cr$it = any taxable ye> is an am\nt equal to ! product (-- 7,a7 #a4jj p] gallon ) respect to any transportation fuel :i* is-- 7i7 produc$ by ! taxpay] at a qualifi$ facility1 & 7ii7 sold or us$ by ! taxpay] 9 a mann] describ$ 9 p>agraph 7#b71 & 7,b7 ! emissions factor = su* fuel 7z det]m9$ "u subsection 7b77#b774 7#b7 ,sale or use ,= purposes ( p>agraph 7#a77;,a77ii71 ! transportation fuel is sold or us$ 9 a mann] describ$ 9 ?is p>agraph if su* fuel is-- 7,a7 sold by ! taxpay] to an unrelat$ p]son-- 7i7 = use by su* p]son 9 ! production ( a fuel mixture t w be us$ z a transportation fuel1 7ii7 = use by su* p]son z a transportation fuel 9 a trade or bus9ess1 or 7iii7 :o sells su* fuel at retail to ano!r p]son & places su* fuel 9 ! fuel tank ( su* o!r p]son1 or 7,b7 us$ or sold by ! taxpay] = any purpose describ$ 9 subp>agraph 7,a74 7#c7 ,r\nd+ ,if any am\nt det]m9$ "u p>agraph 7#a7 is n a multiple ( #j4a c5t1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #j4a c5t4 7b7 ,emissions factors 7#a7 ,emissions factor 7,a7 ,9 g5]al ,! emissions factor ( a transportation fuel %all be an am\nt equal to ! quoti5t (-- 7i7 an am\nt 7n less ?an z]o7 equal to-- 7,i7 #ge1 m9us 7,,ii7 ! emissions rate = su* fuel1 divid$ by 7ii7 #ge4 7,b7 ,e/abli%m5t ( safe h>bor emissions rate ,! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all e/abli% ! safe h>bor emissions rate = simil> types & categories ( transportation fuels bas$ on ! am\nt ( lifecycle gre5h\se gas emissions 7z describ$ 9 section #baa7o77#a77;,h7 ( ! ,clean ,air ,act 7#db ,u4,s4,c4 #gede7o77#a77;,h771 z 9 effect on ! date ( ! enactm5t ( ?is section7 = su* fuels1 express$ z kilograms ( ,,co#b;e p] mm,b,t,u1 :i* a taxpay] may elect to use = purposes ( ?is section4 7,c7 ,r\nd+ ( safe h>bor emissions rate ,! ,secret>y may r\nd ! safe h>bor emissions rates "u subp>agraph 7,b7 to ! ne>e/ multiple ( #g4ej kilograms ( ,,co#b;e p] mm,b,t,u1 except t1 9 ! case ( an emissions rate t is less ?an #c4ge kilograms ( ,,co#b;e p] mm,b,t,u1 ! ,secret>y may r\nd su* rate to z]o4 7,d7 ,provisional safe h>bor emissions rate 7i7 ,9 g5]al ,9 ! case ( any transportation fuel = :i* a safe h>bor emissions rate has n be5 e/abli%$ by ! ,secret>y1 a taxpay] produc+ su* fuel may file a petition ) ! ,secret>y = det]m9ation ( ! safe h>bor emissions rate ) respect to su* fuel4 7ii7 ,e/abli%m5t ( provisional & f9al safe h>bor emissions rate ,9 ! case ( a transportation fuel = :i* a petition describ$ 9 clause 7i7 has be5 fil$1 ! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all-- 7,i7 n lat] ?an #ab mon?s aft] ! date on :i* ! petition 0 fil$1 provide a provisional safe h>bor emissions rate = su* fuel :i* a taxpay] may use = purposes ( ?is section1 & 7,,ii7 n lat] ?an #bd mon?s aft] ! date on :i* ! petition 0 fil$1 e/abli% ! safe h>bor emissions rate = su* fuel4 7,e7 ,r\nd+ ,if any am\nt det]m9$ "u subp>agraph 7,a7 is n a multiple ( #j4a1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #j4a4 7#b7 ,publi%+ safe h>bor emissions rate ,! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all publi% a table t sets =? ! safe h>bor emissions rate 7z e/abli%$ pursuant to p>agraph 7#a77 = simil> types & categories ( transportation fuels4 7c7 ,inflation adju/m5t 7#a7 ,9 g5]al ,9 ! case ( cal5d> ye>s beg9n+ aft] #bjai1 ! #a4jj am\nt 9 subsection 7a77#a77;,a7 %all be adju/$ by multiply+ su* am\nt by ! inflation adju/m5t factor = ! cal5d> ye> 9 :i* ! sale or use ( ! transportation fuel occurs4 ,if any am\nt z increas$ "u ! prec$+ s5t5ce is n a multiple ( #a c5t1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #a c5t4 7#b7 ,inflation adju/m5t factor ,= purposes ( p>agraph 7#a71 ! inflation adju/m5t factor %all be ! inflation adju/m5t factor det]m9$ & publi%$ by ! ,secret>y pursuant to section #de,s7c71 det]m9$ by sub/itut+ cal5d> ye> #bjah = cal5d> ye> #aiib 9 p>agraph 7#c7 !re(4 7d7 ,cr$it phase-,out 7#a7 ,9 g5]al ,if ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy & ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 det]m9es t ! gre5h\se gas emissions f transportation fuel produc$ & sold at retail annually 9 ! ,unit$ ,/ates are equal to or less ?an #fe p]c5t ( ! gre5h\se gas emissions f transportation fuel produc$ & sold at retail 9 ! ,unit$ ,/ates dur+ cal5d> ye> #bjag1 ! am\nt ( ! clean fuel production cr$it "u ?is section = any qualifi$ facility plac$ 9 s]vice dur+ a cal5d> ye> describ$ 9 p>agraph 7#b7 %all be equal to ! product (-- 7,a7 ! am\nt ( ! cr$it det]m9$ "u subsection 7a7 )\t reg>d to ?is subsection1 multipli$ by 7,b7 ! phase-out p]c5tage "u p>agraph 7#b74 7#b7 ,phase-out p]c5tage ,! phase-out p]c5tage "u ?is p>agraph is equal to-- 7,a7 = a facility plac$ 9 s]vice dur+ ! fir/ cal5d> ye> foll[+ ! cal5d> ye> 9 :i* ! det]m9ation describ$ 9 p>agraph 7#a7 is made1 #ge p]c5t1 7,b7 = a facility plac$ 9 s]vice dur+ ! second cal5d> ye> foll[+ su* det]m9ation ye>1 #ej p]c5t1 7,c7 = a facility plac$ 9 s]vice dur+ ! ?ird cal5d> ye> foll[+ su* det]m9ation ye>1 #be p]c5t1 & 7,d7 = a facility plac$ 9 s]vice dur+ any cal5d> ye> subsequ5t to ! ye> describ$ 9 subp>agraph 7,c71 #j p]c5t4 7e7 ,def9itions ,9 ?is section3 7#a7 mm,b,t,u ,! t]m mm,b,t,u means #a1jjj1jjj ,briti% !rmal units4 7#b7 ,,co#b;e ,! t]m ,,co#b;e means1 ) respect to any gre5h\se gas1 ! equival5t c>bon dioxide4 7#c7 ,gre5h\se gas ,! t]m gre5h\se gas has ! same mean+ giv5 t t]m "u section #baa7o77#a77;,g7 ( ! ,clean ,air ,act 7#db ,u4,s4,c4 #gede7o77#a77;,g771 z 9 effect on ! date ( ! enactm5t ( ?is section4 7#d7 ,qualifi$ facility 7,a7 ,9 g5]al ,subject to subp>agraphs 7,b7 & 7,c71 ! t]m qualifi$ facility means a facility us$ = ! production ( transportation fuels4 7,b7 #aj-ye> production cr$it ,= purposes ( ?is section1 a facility %all only qualify z a qualifi$ facility-- 7i7 9 ! case ( a facility t is orig9ally plac$ 9 s]vice aft] ,decemb] #ca1 #bjah1 = ! #aj-ye> p]iod beg9n+ on ! date su* facility is plac$ 9 s]vice1 or 7ii7 9 ! case ( a facility t is orig9ally plac$ 9 s]vice be=e ,janu>y #a1 #bjai1 = ! #aj-ye> p]iod beg9n+ on ,janu>y #a1 #bjai4 7#e7 ,transportation fuel ,! t]m transportation fuel means a fuel :i* is suitable = use z a fuel 9 a highway vehicle or aircraft4 7f7 ,f9al guidance ,n lat] ?an ,janu>y #a1 #bjah1 ! ,secret>y1 9 consultation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 %all issue f9al guidance reg>d+ implem5tation ( ?is section1 includ+ calculation ( emissions factors = transportation fuel1 ! table describ$ 9 subsection 7b77#b71 & ! det]m9ation ( clean fuel production cr$its "u ?is section4 7g7 ,special rules 7#a7 ,only regi/]$ production 9 ! ,unit$ ,/ates tak5 into acc\nt 7,a7 ,9 g5]al ,no clean fuel production cr$it %all be det]m9$ "u subsection 7a7 ) respect to any transportation fuel unless-- 7i7 ! taxpay] is regi/]$ z a produc] ( clean fuel "u section #daja at ! "t ( production1 & 7ii7 su* fuel is produc$ 9 ! ,unit$ ,/ates4 7,b7 ,unit$ ,/ates ,= purposes ( ?is p>agraph1 ! t]m ,unit$ ,/ates includes any possession ( ! ,unit$ ,/ates4 7#b7 ,production attributable to ! taxpay] ,9 ! case ( a facility 9 :i* m ?an #a p]son has an own]%ip int]e/1 except to ! ext5t provid$ 9 regulations prescrib$ by ! ,secret>y1 production f ! facility %all be allocat$ among su* p]sons 9 proportion to _! respective own]%ip int]e/s 9 ! gross sales f su* facility4 7#c7 ,relat$ p]sons ,p]sons %all be treat$ z relat$ to ea* o!r if su* p]sons w\ld be treat$ z a s+le employ] "u ! regulations prescrib$ "u section #eb7;b74 ,9 ! case ( a corporation :i* is a memb] ( an affiliat$ gr\p ( corporations fil+ a consolidat$ return1 su* corporation %all be treat$ z sell+ fuel to an unrelat$ p]son if su* fuel is sold to su* a p]son by ano!r memb] ( su* gr\p4 7#d7 ,pass-?ru 9 ! case ( e/ates & tru/s ,"u regulations prescrib$ by ! ,secret>y1 rules simil> to ! rules ( subsection 7d7 ( section #eb %all apply4 7#e7 ,allocation ( cr$it to patrons ( agricultural coop]ative 7,a7 ,election to allocate 7i7 ,9 g5]al ,9 ! case ( an eligible coop]ative organization1 any portion ( ! cr$it det]m9$ "u subsection 7a7 = ! taxable ye> may1 at ! election ( ! organization1 be apportion$ among patrons ( ! organization on ! basis ( ! am\nt ( bus9ess done by ! patrons dur+ ! taxable ye>4 7ii7 ,=m & effect ( election ,an election "u clause 7i7 = any taxable ye> %all be made on a timely fil$ return = su* ye>4 ,su* election1 once made1 %all be irrevocable = su* taxable ye>4 ,su* election %all n take effect unless ! organization designates ! apportionm5t z su* 9 a writt5 notice mail$ to its patrons dur+ ! paym5t p]iod describ$ 9 section #achb7;d74 7,b7 ,treatm5t ( organizations & patrons ,! am\nt ( ! cr$it apportion$ to any patrons "u subp>agraph 7,a7-- 7i7 %all n be includ$ 9 ! am\nt det]m9$ "u subsection 7a7 ) respect to ! organization = ! taxable ye>1 & 7ii7 %all be includ$ 9 ! am\nt det]m9$ "u subsection 7a7 = ! fir/ taxable ye> ( ea* patron end+ on or aft] ! la/ day ( ! paym5t p]iod 7z def9$ 9 section #achb7;d77 = ! taxable ye> ( ! organization or1 if e>li]1 = ! taxable ye> ( ea* patron end+ on or aft] ! date on :i* ! patron receives notice f ! coop]ative ( ! apportionm5t4 7,c7 ,special rules = decrease 9 cr$its = taxable ye> ,if ! am\nt ( ! cr$it ( a coop]ative organization det]m9$ "u subsection 7a7 = a taxable ye> is less ?an ! am\nt ( su* cr$it %[n on ! return ( ! coop]ative organization = su* ye>1 an am\nt equal to ! excess (-- 7i7 su* r$uction1 ov] 7ii7 ! am\nt n apportion$ to su* patrons "u subp>agraph 7,a7 = ! taxable ye>1 %all be treat$ z an increase 9 tax impos$ by ?is *apt] on ! organization4 ,su* increase %all n be treat$ z tax impos$ by ?is *apt] = purposes ( det]m9+ ! am\nt ( any cr$it "u ?is *apt]4 7,d7 ,eligible coop]ative def9$ ,= purposes ( ?is section ! t]m eligible coop]ative means a coop]ative organization describ$ 9 section #acha7;a7 :i* is own$ m ?an #ej p]c5t by agricultural produc]s or by entities own$ by agricultural produc]s4 ,= ?is purpose an entity own$ by an agricultural produc] is "o t is m ?an #ej p]c5t own$ by agricultural produc]s4 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #ch7;b71 z am5d$ by section #aja1 is am5d$-- 7,a7 9 p>agraph 7#cf71 by /rik+ plus at ! end1 7,b7 9 p>agraph 7#cg71 by /rik+ ! p]iod at ! end & ins]t+ 1 plus1 & 7,c7 by add+ at ! end ! foll[+ new p>agraph3 7#ch7 ! clean fuel production cr$it det]m9$ "u section #de,t7a74 4 7#b7 ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by section #aja1 is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #de,t4 ,clean fuel production cr$it4 4 7#c7 ,section #daja7;a77#a7 is am5d$ by ins]t+ e p]son produc+ a fuel eligible = ! clean fuel production cr$it 7pursuant to section #de,t71 aft] section #fdbf7;b77#d77;,a7714 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to transportation fuel produc$ aft] ,decemb] #ca1 #bjah4 #bjb4 ,tempor>y ext5sion ( exi/+ fuel & transportation inc5tives 7a7 ,alt]native motor vehicle cr$it = fuel cell motor vehicles 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #cj;,b7k7 is am5d$ by /rik+ ,decemb] #ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjbf4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to prop]ty pur*as$ aft] ,decemb] #ca1 #bjaf4 7b7 ,alt]native fuel vehicle refuel+ prop]ty cr$it 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #cj;,c7g7 is am5d$ by /rik+ ,decemb] #ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjaf4 7c7 ,new qualifi$ plug-,9 electric drive motor vehicles 7#a7 #b- & #c-:eel$ plug-9 electric vehicles 7,a7 ,9 g5]al ,clause 7ii7 ( section #cj;,d7g77#c77;,e7 is am5d$ to read z foll[s3 7ii7 aft] ,decemb] #ca1 #bjaf1 & be=e ,janu>y #a1 #bjai4 4 7,b7 ,effective date ,! am5dm5ts made by ?is p>agraph %all apply to vehicles acquir$ aft] ,decemb] #ca1 #bjaf4 7#b7 ,elim9ation on limitation on numb] ( vehicles eligible = cr$it 7,a7 ,9 g5]al ,section #cj;,d1 z am5d$ by p>agraph 7#a71 is am5d$-- 7i7 by /rik+ subsection 7e71 & 7ii7 by r$esignat+ subsections 7f7 & 7g7 z subsections 7e7 & 7f71 respectively4 7,b7 ,con=m+ am5dm5t ,p>agraph 7#cg7 ( section #ajaf7;a7 is am5d$ by /rik+ section #cj;,d7f77#a7 & ins]t+ section #cj;,d7e77#a74 7,c7 ,effective date ,! am5dm5ts made by ?is p>agraph %all apply to vehicles sold aft] ! date ( ! enactm5t ( ?is ,act4 7d7 ,second g5]ation bi(uel produc] cr$it 7#a7 ,9 g5]al ,section #dj7;b77#f7 is am5d$-- 7,a7 9 subp>agraph 7,e77i7-- 7i7 9 subclause 7,i71 by /rik+ & at ! end1 7ii7 9 subclause 7,,ii71 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & 7iii7 by ins]t+ at ! end ! foll[+ new subclause3 7,,iii7 qualifies z a transportation fuel 7z def9$ 9 section #de,t7e77#e774 1 & 7,b7 9 subp>agraph 7,j77i71 by /rik+ #bjag & ins]t+ #bjai4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to qualifi$ second g5]ation bi(uel production aft] ,decemb] #ca1 #bjaf4 7e7 ,biodiesel & r5ewable diesel us$ z fuel 7#a7 ,9 g5]al ,section #dj;,a is am5d$-- 7,a7 9 subsection 7f77#c77;,b71 by /rik+ or ,d#cif1 & 7,b7 9 subsection 7g71 by /rik+ #bjaf & ins]t+ #bjah4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjaf4 7f7 ,cr$it = biodiesel & alt]native fuel mixtures 7#a7 ,9 g5]al ,section #fdbf is am5d$-- 7,a7 9 subsection 7c77#f71 by /rik+ #bjaf & ins]t+ #bjah1 7,b7 9 subsection 7d7-- 7i7 9 p>agraph 7#a71 by /rik+ motor vehicle & ins]t+ highway vehicle1 7ii7 9 p>agraph 7#b77;,d71 by /rik+ liquefi$1 & 7iii7 9 p>agraph 7#e71 by /rik+ #bjaf & ins]t+ #bjah1 & 7,c7 9 subsection 7e71 by am5d+ p>agraph 7#c7 to read z foll[s3 7#c7 ,t]m9ation ,?is subsection %all n apply to any sale or use = any p]iod aft]-- 7,a7 9 ! case ( any alt]native fuel mixture sold or us$ by ! taxpay] = ! purposes describ$ 9 subsection 7d77#a71 ,decemb] #ca1 #bjah1 7,b7 9 ! case ( any sale or use involv+ hydrog5 t is n = ! purposes describ$ 9 subsection 7d77#a71 ,decemb] #ca1 #bjah1 & 7,c7 9 ! case ( any sale or use n describ$ 9 subp>agraph 7,a7 or 7,b71 ,decemb] #ca1 #bjaf4 4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjaf4 7#c7 ,special rule = c]ta9 p]iods ,not)/&+ any o!r provision ( law1 9 ! case (-- 7,a7 any biodiesel mixture cr$it prop]ly det]m9$ "u section #fdbf7;c7 ( ! ,int]nal ,rev5ue ,code ( #aihf = ! p]iods aft] ,decemb] #ca1 #bjaf1 & be=e ! date ( ! enactm5t ( ?is ,act1 & 7,b7 any alt]native fuel cr$it prop]ly det]m9$ "u section #fdbf7;d7 ( su* ,code = su* p]iods1 su* cr$it %all be all[$1 & any refund or paym5t attributable to su* cr$it 7includ+ any paym5t "u section #fdbg7;e7 ( su* ,code7 %all be made1 only 9 su* mann] z ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all provide4 ,su* ,secret>y %all issue guidance )9 #cj days aft] ! date ( ! enactm5t ( ?is ,act provid+ = a "o-"t submission ( claims cov]+ p]iods describ$ 9 ! prec$+ s5t5ce4 ,su* guidance %all provide = a #ahj-;day p]iod = ! submission ( su* claims 79 su* mann] z prescrib$ by su* ,secret>y7 to beg9 n lat] ?an #cj days aft] su* guidance is issu$4 ,su* claims %all be paid by su* ,secret>y n lat] ?an #fj days aft] receipt4 ,if su* ,secret>y has n paid pursuant to a claim fil$ "u ?is subsection )9 #fj days aft] ! date ( ! fil+ ( su* claim1 ! claim %all be paid ) int]e/ f su* date det]m9$ by us+ ! ov]paym5t rate & me?od "u section #ffba ( su* ,code4 7g7 ,biodiesel1 biodiesel mixtures1 & alt]native fuels 7#a7 ,9 g5]al ,section #fdbg7;e77#f7 is am5d$-- 7,a7 9 subp>agraph 7,b71 by /rik+ #bjaf & ins]t+ #bjah1 & 7,b7 9 subp>agraph 7,c71 by /rik+ #bjaf & ins]t+ #bjah4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjaf4 ,,iii ,en]gy ,effici5cy ,inc5tives #cja4 ,cr$it = new en]gy effici5t resid5tial build+s 7a7 ,9 g5]al ,section #de,l is am5d$ to read z foll[s3 #de,l4 ,new en]gy effici5t home cr$it 7a7 ,all[ance ( cr$it ,= purposes ( section #ch1 9 ! case ( an eligible contractor1 ! new en]gy effici5t home cr$it = ! taxable ye> is ! applicable am\nt = ea* qualifi$ resid5ce :i* is-- 7#a7 con/ruct$ by ! eligible contractor1 & 7#b7 acquir$ by a p]son f su* eligible contractor = use z a resid5ce dur+ ! taxable ye>4 7b7 ,applicable am\nt 7#a7 ,9 g5]al ,= purposes ( subsection 7a71 ! applicable am\nt %all be an am\nt equal to #a1ejj increas$ 7b n above #c1jjj7 by #ajj = e #e p]c5tage po9ts by :i* ! effici5cy ratio = ! qualifi$ resid5ce is c]tifi$ to be great] ?an #be p]c5t4 7#b7 ,effici5cy ratio ,= purposes ( ?is section1 ! effici5cy ratio ( a qualifi$ resid5ce %all be equal to ! quoti5t1 express$ z a p]c5tage1 obta9$ by divid+-- 7,a7 an am\nt equal to ! diff]5ce betwe5-- 7i7 ! annual level ( en]gy consumption ( ! qualifi$ resid5ce1 & 7ii7 ! annual level ( en]gy consumption ( ! basel9e resid5ce1 by 7,b7 ! annual level ( en]gy consumption ( ! basel9e resid5ce4 7#c7 ,basel9e resid5ce ,= purposes ( ?is section1 ! basel9e resid5ce %all be a resid5ce :i* is-- 7,a7 comp>able to ! qualifi$ resid5ce1 & 7,b7 con/ruct$ 9 accordance ) ! /&>ds ( ! #bjae ,int]national ,en]gy ,cons]vation ,code1 z su* ,code 7includ+ supplem5ts7 is 9 effect on ! date ( ! enactm5t ( ! ,clean ,en]gy = ,am]ica ,act4 7c7 ,def9itions ,= purposes ( ?is section3 7#a7 ,eligible contractor ,! t]m eligible contractor means-- 7,a7 ! p]son :o con/ruct$ ! qualifi$ resid5ce1 or 7,b7 9 ! case ( a qualifi$ resid5ce :i* is a manufactur$ home1 ! manufactur$ home produc] ( su* resid5ce4 7#b7 ,qualifi$ resid5ce ,! t]m qualifi$ resid5ce means a dwell+ unit-- 7,a7 locat$ 9 ! ,unit$ ,/ates1 7,b7 ! con/ruction ( :i* is sub/antially complet$ aft] ! date ( ! enactm5t ( ?is section1 & 7,c7 :i* is c]tifi$ to h an annual level ( en]gy consumption t is less ?an ! basel9e resid5ce & an effici5cy ratio ( n less ?an #be p]c5t4 7#c7 ,con/ruction ,! t]m con/ruction does n include sub/antial recon/ruction or rehabilitation4 7d7 ,c]tification 7#a7 ,9 g5]al 7,a7 ,accr$it$ ?ird p>ty ,a c]tification describ$ 9 ?is section %all be made by a ?ird p>ty t is accr$it$ by a c]tification program approv$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 7,b7 ,guidance ,a c]tification describ$ 9 ?is section %all be made 9 accordance ) guidance prescrib$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 ,su* guidance %all-- 7i7 specify proc$ures & me?ods = calculat+ annual en]gy consumption levels1 & 7ii7 include requirem5ts to ensure ! safe op]ation ( en]gy effici5cy improvem5ts & t all improvem5ts are in/all$ accord+ to ! applicable /&>ds ( su* c]tification program4 7#b7 ,comput] s(tw>e 7,a7 ,9 g5]al ,any calculation "u p>agraph 7#a77;,b77i7 %all be prep>$ by qualifi$ comput] s(tw>e4 7,b7 ,qualifi$ comput] s(tw>e ,= purposes ( ?is p>agraph1 ! t]m qualifi$ comput] s(tw>e means s(tw>e-- 7i7 = :i* ! s(tw>e design] has c]tifi$ t ! s(tw>e meets all proc$ures & detail$ me?ods = calculat+ en]gy consumption levels z requir$ by ! ,secret>y1 & 7ii7 :i* provides su* =ms z requir$ to be fil$ by ! ,secret>y 9 connection ) en]gy consumption levels & ! cr$it all[$ "u ?is section4 7e7 ,basis adju/m5t ,= purposes ( ?is subtitle1 if a cr$it is all[$ "u ?is section 9 connection ) any exp5diture = any prop]ty 7o!r ?an a qualifi$ l[-income build+1 z describ$ 9 section #db7;c77#b771 ! increase 9 ! basis ( su* prop]ty :i* w\ld 7b = ?is subsection7 result f su* exp5diture %all be r$uc$ by ! am\nt ( ! cr$it s det]m9$4 7f7 ,coord9ation ) inve/m5t cr$its ,= purposes ( ?is section1 exp5ditures tak5 into acc\nt "u section #be;,d or #dg %all n be tak5 into acc\nt "u ?is section4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to any qualifi$ resid5ce acquir$ aft] ,decemb] #ca1 #bjah4 #cjb4 ,heat+ & air condition+ replacem5t cr$it 7a7 ,9 g5]al ,subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by add+ at ! end ! foll[+ new section3 #be;,e4 ,heat+ & air condition+ replacem5t cr$it 7a7 ,9 g5]al ,9 ! case ( an individual1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to ! less] (-- 7#a7 ! sum ( ! applicable qualifi$ prop]ty am\nts = any qualifi$ prop]ty plac$ 9 s]vice by ! individual dur+ su* taxable ye>1 or 7#b7 #a1ejj4 7b7 ,applicable qualifi$ prop]ty am\nt ,= any qualifi$ prop]ty1 ! applicable qualifi$ prop]ty am\nt %all be equal to ! less] (-- 7#a7 #ej p]c5t ( ! am\nt paid or incurr$ by ! individual = su* qualifi$ prop]ty1 or 7#b7 #ejj4 7c7 ,qualifi$ prop]ty ,! t]m qualifi$ prop]ty means a furnace1 boil]1 cond5s+ wat] heat]1 c5tral air condition+ unit1 heat pump1 or biomass prop]ty :i*-- 7#a7 meets ! requirem5ts ( ! ,en]gy ,/> program :i* are 9 effect at ! "t t ! prop]ty 0 plac$ 9 s]vice1 7#b7 is in/all$ accord+ to applicable ,,acca-,,qi /&>ds :i* are 9 effect at ! "t t ! prop]ty 0 plac$ 9 s]vice1 7#c7 is = use 9 a dwell+ unit :i* is locat$ 9 ! ,unit$ ,/ates & us$ z a resid5ce by ! individual1 & 7#d7 is reasonably expect$ to rema9 9 s]vice 9 su* dwell+ unit = n less ?an #e ye>s4 7d7 ,biomass prop]ty 7#a7 ,9 g5]al ,= purposes ( ?is section1 ! t]m biomass prop]ty means any prop]ty :i*-- 7,a7 uses ! burn+ ( biomass fuel to heat a dwell+ unit or to heat wat] = use 9 a dwell+ unit1 & 7,b7 us+ ! high] heat+ value1 has a !rmal effici5cy ( n less ?an #ge p]c5t4 7#b7 ,biomass fuel ,= purposes ( p>agraph 7#a71 ! t]m biomass fuel means any plant-d]iv$ fuel :i* is available on a r5ewable or recurr+ basis1 includ+ any su* fuel :i* has be5 subject to a d5sification process 7su* z wood pellets74 7e7 ,d5ial ( d\ble b5efit ,no cr$it %all be all[$ "u subsection 7a7 = any am\nts paid or incurr$ = :i* a d$uction or cr$it is all[$ "u any o!r provision ( ?is *apt]4 4 7b7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,a ( "p ,,iv ( sub*apt] ,a *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #be;,d ! foll[+ new item3 #be;,e4 ,heat+ & air condition+ replacem5t cr$it4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to qualifi$ prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 #cjc4 ,en]gy effici5cy cr$it = exi/+ resid5tial build+s 7a7 ,9 g5]al ,section #be;,c is am5d$ to read z foll[s3 #be;,c4 ,cr$it = en]gy effici5cy improvem5ts to resid5tial build+s 7a7 ,all[ance ( cr$it ,9 ! case ( an individual1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to ! less] (-- 7#a7 ! applicable am\nt = ! qualifi$ resid5ce bas$ on en]gy effici5cy improvem5ts made by ! taxpay] & plac$ 9 s]vice dur+ su* taxable ye>1 or 7#b7 #cj p]c5t ( ! am\nt paid or incurr$ by ! taxpay] = en]gy effici5cy improvem5ts made to ! qualifi$ resid5ce t 7 plac$ 9 s]vice dur+ su* taxable ye>4 7b7 ,applicable am\nt 7#a7 ,9 g5]al ,= purposes ( subsection 7a77#a71 ! applicable am\nt %all be an am\nt equal to #a1gej increas$ 7b n above #f1ejj7 by #cjj = e #e p]c5tage po9ts by :i* ! effici5cy ratio = ! qualifi$ resid5ce is c]tifi$ to be great] ?an #bj p]c5t4 7#b7 ,effici5cy ratio ,= purposes ( ?is section1 ! effici5cy ratio ( a qualifi$ resid5ce %all be equal to ! quoti5t1 express$ z a p]c5tage1 obta9$ by divid+-- 7,a7 an am\nt equal to ! diff]5ce betwe5-- 7i7 ! project$ annual level ( en]gy consumption ( ! qualifi$ resid5ce aft] ! en]gy effici5cy improvem5ts h be5 plac$ 9 s]vice1 & 7ii7 ! annual level ( en]gy consumption ( su* qualifi$ resid5ce prior to ! en]gy effici5cy improvem5ts be+ plac$ 9 s]vice1 by 7,b7 ! annual level ( en]gy consumption describ$ 9 subp>agraph 7,a77ii74 7#c7 ,coord9ation ) cr$it = resid5tial en]gy effici5t prop]ty ,= purposes ( p>agraph 7#b77;,a71 ! det]m9ation ( ! diff]5ce 9 annual levels ( en]gy consumption ( ! qualifi$ resid5ce %all n include any r$uction 9 net en]gy consumption relat$ to-- 7,a7 qualifi$ prop]ty or en]gy /orage prop]ty = :i* a cr$it 0 all[$ "u section #be;,d1 or 7,b7 qualifi$ prop]ty = :i* a cr$it 0 all[$ "u section #be;,e4 7c7 ,def9itions ,= purposes ( ?is section3 7#a7 ,qualifi$ resid5ce ,! t]m qualifi$ resid5ce means a dwell+ unit-- 7,a7 locat$ 9 ! ,unit$ ,/ates1 7,b7 own$ & us$ by ! taxpay] z ! taxpay]'s pr9cipal resid5ce 7)9 ! mean+ ( section #aba71 & 7,c7 :i* is c]tifi$ to h-- 7i7 a project$ annual level ( en]gy consumption aft] ! en]gy effici5cy improvem5ts h be5 plac$ 9 s]vice t is less ?an ! annual level ( en]gy consumption prior to ! en]gy effici5cy improvem5ts be+ plac$ 9 s]vice1 & 7ii7 an effici5cy ratio ( n less ?an #bj p]c5t4 7#b7 ,en]gy effici5cy improvem5ts 7,a7 ,9 g5]al ,! t]m en]gy effici5cy improvem5ts means any prop]ty in/all$ on or 9 a dwell+ unit :i* has be5 c]tifi$ to r$uce ! level ( en]gy consumption = su* unit1 provid$ t-- 7i7 ! orig9al use ( su* prop]ty comm5ces ) ! taxpay]1 & 7ii7 su* prop]ty reasonably c be expect$ to rema9 9 use = at lea/ #e ye>s4 7,b7 ,am\nts paid or incurr$ = en]gy effici5cy improvem5ts ,= purposes ( subsection 7a77#b71 ! am\nt paid or incurr$ by ! taxpay]-- 7i7 %all include exp5ditures = design & = labor co/s prop]ly allocable to ! onsite prep>ation1 assembly1 or orig9al in/allation ( ! prop]ty1 & 7ii7 %all n include any exp5ditures relat$ to expansion ( ! build+ floor area4 7d7 ,special rules ,= purposes ( ?is section3 7#a7 ,t5ant-/ockhold] 9 coop]ative h\s+ corporation ,9 ! case ( an individual :o is a t5ant-/ockhold] 7z def9$ 9 section #baf7 9 a coop]ative h\s+ corporation 7z def9$ 9 su* section71 su* individual %all be treat$ z hav+ made 8 t5ant-/ockhold]'s proportionate %>e 7z def9$ 9 section #baf7;b77#c77 ( any exp5ditures = en]gy effici5cy improvem5ts ( su* corporation4 7#b7 ,condom9iums 7,a7 ,9 g5]al ,9 ! case ( an individual :o is a memb] ( a condom9ium managem5t association ) respect to a condom9ium :i* ! individual owns1 su* individual %all be treat$ z hav+ made ! individual's proportionate %>e ( any exp5ditures = en]gy effici5cy improvem5ts ( su* association4 7,b7 ,condom9ium managem5t association ,= purposes ( ?is p>agraph1 ! t]m condom9ium managem5t association means an organization :i* meets ! requirem5ts ( p>agraph 7#a7 ( section #ebh7;c7 7o!r ?an subp>agraph 7,e7 !re(7 ) respect to a condom9ium project sub/antially all ( ! units ( :i* are us$ z resid5ces4 7#c7 ,allocation 9 c]ta9 cases ,if less ?an #hj p]c5t ( ! use ( a prop]ty is = nonbus9ess purposes1 only t portion ( ! exp5ditures = en]gy effici5cy improvem5ts = su* prop]ty :i* is prop]ly allocable to use = nonbus9ess purposes %all be tak5 into acc\nt4 7e7 ,c]tification 7#a7 ,9 g5]al 7,a7 ,accr$it$ ?ird p>ty ,a c]tification describ$ 9 ?is section %all be made by a ?ird p>ty t is accr$it$ by a c]tification program approv$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 7,b7 ,guidance ,a c]tification describ$ 9 ?is section %all be made 9 accordance ) guidance prescrib$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 ,su* guidance %all-- 7i7 specify proc$ures & me?ods = calculat+ annual en]gy consumption levels1 & 7ii7 include requirem5ts to ensure ! safe op]ation ( en]gy effici5cy improvem5ts & t all improvem5ts are in/all$ accord+ to ! applicable /&>ds ( su* c]tification program4 7#b7 ,comput] s(tw>e 7,a7 ,9 g5]al ,any calculation "u p>agraph 7#a77;,b77i7 %all be prep>$ by qualifi$ comput] s(tw>e4 7,b7 ,qualifi$ comput] s(tw>e ,= purposes ( ?is p>agraph1 ! t]m qualifi$ comput] s(tw>e has ! same mean+ giv5 su* t]m "u section #de,l7d77#b74 7f7 ,basis adju/m5t ,= purposes ( ?is subtitle1 if a cr$it is all[$ "u ?is section = any exp5ditures ) respect to any en]gy effici5cy improvem5ts1 ! increase 9 ! basis ( su* prop]ty :i* w\ld 7b = ?is subsection7 result f su* exp5ditures %all be r$uc$ by ! am\nt ( ! cr$it s all[$4 7g7 ,coord9ation ) inve/m5t cr$its ,= purposes ( ?is section1 exp5ditures tak5 into acc\nt "u section #be;,d or #dg %all n be tak5 into acc\nt "u ?is section4 4 7b7 ,con=m+ am5dm5t ,! table ( sections = subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ ! item relat+ to section #be;,c & ins]t+ aft] ! item relat+ to section #be;,b ! foll[+ item3 ,sec4 #be;,c4 ,cr$it = en]gy effici5cy improvem5ts to resid5tial build+s4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to any en]gy effici5cy improvem5ts plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 #cjd4 ,d$uction = new en]gy effici5t comm]cial build+s 7a7 ,9 g5]al ,section #agi;,d is am5d$ to read z foll[s3 #agi;,d4 ,en]gy effici5t comm]cial build+ d$uction 7a7 ,9 g5]al ,!re %all be all[$ z a d$uction an am\nt equal to ! applicable am\nt = ea* qualifi$ build+ plac$ 9 s]vice by ! taxpay] dur+ ! taxable ye>4 7b7 ,applicable am\nt 7#a7 ,9 g5]al ,= purposes ( subsection 7a71 ! applicable am\nt %all be an am\nt equal to ! product (-- 7,a7 ! applicable doll> value1 & 7,b7 ! squ>e footage ( ! qualifi$ build+4 7#b7 ,applicable doll> value ,= purposes ( p>agraph 7#a77;,a71 ! applicable doll> value %all be an am\nt equal to #a4jj increas$ 7b n above #d4ge7 by #j4be = e #e p]c5tage po9ts by :i* ! effici5cy ratio = ! qualifi$ build+ is c]tifi$ to be great] ?an #be p]c5t4 7#c7 ,effici5cy ratio 7,a7 ,9 g5]al ,= purposes ( ?is section1 ! effici5cy ratio ( a qualifi$ build+ %all be equal to ! quoti5t1 express$ z a p]c5tage1 obta9$ by divid+-- 7i7 an am\nt equal to ! diff]5ce betwe5-- 7,i7 ! annual level ( en]gy consumption ( ! qualifi$ build+1 & 7,,ii7 ! annual level ( en]gy consumption ( ! basel9e build+1 by 7ii7 ! annual level ( en]gy consumption ( ! basel9e build+4 7,b7 ,exclusion ( plug loads ,= purposes ( det]m9+ ! annual level ( en]gy consumption ( ! qualifi$ & basel9e build+s "u ?is p>agraph1 any en]gy consumption attributable to plug loads %all be exclud$4 7#d7 ,basel9e build+ ,= purposes ( ?is section1 ! basel9e build+ %all be a build+ :i*-- 7,a7 is comp>able to ! qualifi$ build+1 & 7,b7 meets ! m9imum requirem5ts ( ,/&>d #ij4a-bjaf ( ! ,am]ican ,society ( ,heat+1 ,refrig]at+1 & ,air ,condition+ ,eng9e]s & ! ,illum9at+ ,eng9e]+ ,society ( ,nor? ,am]ica 7z 9 effect on ! date ( ! enactm5t ( ! ,clean ,en]gy = ,am]ica ,act74 7c7 ,qualifi$ build+ ,! t]m qualifi$ build+ means a build+-- 7#a7 locat$ 9 ! ,unit$ ,/ates1 7#b7 :i* is own$ by ! taxpay]1 & 7#c7 :i* is c]tifi$ to h an annual level ( en]gy consumption t is less ?an ! basel9e build+ & an effici5cy ratio ( n less ?an #be p]c5t4 7d7 ,allocation ( d$uction 7#a7 ,9 g5]al ,9 ! case ( a qualifi$ build+ own$ by an eligible entity1 ! ,secret>y %all promulgate regulations to all[ ! allocation ( ! d$uction to ! p]son prim>ily responsible = design+ ! prop]ty 9 lieu ( ! own] ( su* prop]ty1 ) su* p]son to be treat$ z ! taxpay] = purposes ( ?is section4 7#b7 ,eligible entity ,= purposes ( ?is subsection1 ! t]m eligible entity means-- 7,a7 a ,f$]al1 ,/ate1 or local gov]nm5t or a political subdivision !re(1 7,b7 an ,indian tribe 7z def9$ 9 section #de;,a7c77#f771 or 7,c7 an organization describ$ 9 section #eja7;c7 & exempt f tax "u section #eja7;a74 7e7 ,basis adju/m5t ,= purposes ( ?is subtitle1 if a d$uction is all[$ "u ?is section ) respect to any qualifi$ build+1 ! basis ( su* prop]ty %all be r$uc$ by ! am\nt ( ! d$uction s all[$4 7f7 ,c]tification 7#a7 ,9 g5]al 7,a7 ,accr$it$ ?ird p>ty ,a c]tification describ$ 9 ?is section %all be made by a ?ird p>ty t is accr$it$ by a c]tification program approv$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 7,b7 ,guidance ,a c]tification describ$ 9 ?is section %all be made 9 accordance ) guidance prescrib$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 ,su* guidance %all-- 7i7 specify proc$ures & me?ods = calculat+ annual en]gy consumption levels1 & 7ii7 include requirem5ts to ensure ! safe op]ation ( en]gy effici5cy improvem5ts & t all improvem5ts are in/all$ accord+ to ! applicable /&>ds ( su* c]tification program4 7#b7 ,comput] s(tw>e 7,a7 ,9 g5]al ,any calculation "u p>agraph 7#a77;,b77i7 %all be prep>$ by qualifi$ comput] s(tw>e4 7,b7 ,qualifi$ comput] s(tw>e ,= purposes ( ?is p>agraph1 ! t]m qualifi$ comput] s(tw>e means s(tw>e-- 7i7 = :i* ! s(tw>e design] has c]tifi$ t ! s(tw>e meets all proc$ures & detail$ me?ods = calculat+ en]gy consumption levels z requir$ by ! ,secret>y1 & 7ii7 :i* provides su* =ms z requir$ to be fil$ by ! ,secret>y 9 connection ) en]gy consumption levels & ! d$uction all[$ "u ?is section4 4 7b7 ,con=m+ am5dm5t ,! table ( sections = "p ,,vi ( sub*apt] ,b ( *apt] #a is am5d$ by /rik+ ! item relat+ to section #agi;,d & ins]t+ aft] ! item relat+ to section #agi;,c ! foll[+ item3 ,sec4 #agi;,d4 ,en]gy effici5t comm]cial build+ d$uction4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to any qualifi$ build+ plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 #cje4 ,en]gy effici5cy d$uction = exi/+ comm]cial build+s 7a7 ,9 g5]al ,"p ,,vi ( sub*apt] ,b ( *apt] #a is am5d$ by ins]t+ aft] section #agi;,e ! foll[+ new section3 #agi;,f4 ,d$uction = en]gy effici5cy improvem5ts to comm]cial build+s 7a7 ,9 g5]al ,!re %all be all[$ z a d$uction an am\nt equal to ! less] (-- 7#a7 ! applicable am\nt = ! qualifi$ build+ bas$ on en]gy effici5cy improvem5ts made by ! taxpay] & plac$ 9 s]vice dur+ ! taxable ye>1 or 7#b7 ! am\nt paid or incurr$ by ! taxpay] = en]gy effici5cy improvem5ts made to ! qualifi$ build+ :i* 7 plac$ 9 s]vice dur+ ! taxable ye>4 7b7 ,applicable am\nt 7#a7 ,9 g5]al ,= purposes ( subsection 7a71 ! applicable am\nt %all be an am\nt equal to ! product (-- 7,a7 ! applicable doll> value1 & 7,b7 ! squ>e footage ( ! qualifi$ build+4 7#b7 ,applicable doll> value ,= purposes ( p>agraph 7#a71 ! applicable doll> value %all be an am\nt equal to #a4be increas$ 7b n above #i4be7 by #j4ej = e #e p]c5tage po9ts by :i* ! effici5cy ratio = ! qualifi$ build+ is c]tifi$ to be great] ?an #bj p]c5t4 7#c7 ,effici5cy ratio 7,a7 ,9 g5]al ,= purposes ( ?is section1 ! effici5cy ratio ( a qualifi$ build+ %all be equal to ! quoti5t1 express$ z a p]c5tage1 obta9$ by divid+-- 7i7 an am\nt equal to ! diff]5ce betwe5-- 7,i7 ! project$ annual level ( en]gy consumption ( ! qualifi$ build+ aft] ! en]gy effici5cy improvem5ts h be5 plac$ 9 s]vice1 & 7,,ii7 ! annual level ( en]gy consumption ( su* qualifi$ build+ prior to ! en]gy effici5cy improvem5ts be+ plac$ 9 s]vice1 by 7ii7 ! annual level ( en]gy consumption describ$ 9 clause 7i77,,ii74 7,b7 ,exclusion ( plug loads ,= purposes ( det]m9+ ! annual level ( en]gy consumption ( ! qualifi$ build+ "u ?is p>agraph1 any en]gy consumption attributable to plug loads %all be exclud$4 7#d7 ,coord9ation ) clean en]gy inve/m5t cr$it ,= purposes ( p>agraph 7#c77;,a77i71 ! det]m9ation ( ! diff]5ce 9 annual levels ( en]gy consumption ( ! qualifi$ build+ %all n include any r$uction 9 net en]gy consumption relat$ to qualifi$ prop]ty or en]gy /orage prop]ty = :i* a cr$it 0 all[$ "u section #dh;,e4 7c7 ,def9itions 7#a7 ,qualifi$ build+ ,! t]m qualifi$ build+ means a build+-- 7,a7 locat$ 9 ! ,unit$ ,/ates1 7,b7 :i* is own$ by ! taxpay]1 & 7,c7 :i* is c]tifi$ to h-- 7i7 a project$ annual level ( en]gy consumption aft] ! en]gy effici5cy improvem5ts h be5 plac$ 9 s]vice t is less ?an ! annual level ( en]gy consumption prior to ! en]gy effici5cy improvem5ts be+ plac$ 9 s]vice1 & 7ii7 an effici5cy ratio ( n less ?an #bj p]c5t4 7#b7 ,en]gy effici5cy improvem5ts 7,a7 ,9 g5]al ,! t]m en]gy effici5cy improvem5ts means any prop]ty in/all$ on or 9 a qualifi$ build+ :i* has be5 c]tifi$ to r$uce ! level ( en]gy consumption = su* build+1 provid$ t depreciation 7or amortization 9 lieu ( depreciation7 is all[able ) respect to su* prop]ty4 7,b7 ,am\nts paid or incurr$ = en]gy effici5cy improvem5ts ,= purposes ( subsection 7a77#b71 ! am\nt paid or incurr$ by ! taxpay]-- 7i7 %all include exp5ditures = design & = labor co/s prop]ly allocable to ! onsite prep>ation1 assembly1 or orig9al in/allation ( ! prop]ty1 & 7ii7 %all n include any exp5ditures relat$ to expansion ( ! build+ floor area4 7d7 ,c]tification 7#a7 ,9 g5]al 7,a7 ,accr$it$ ?ird p>ty ,a c]tification describ$ 9 ?is section %all be made by a ?ird p>ty t is accr$it$ by a c]tification program approv$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 7,b7 ,guidance ,a c]tification describ$ 9 ?is section %all be made 9 accordance ) guidance prescrib$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 ,su* guidance %all-- 7i7 specify proc$ures & me?ods = calculat+ annual en]gy consumption levels1 & 7ii7 include requirem5ts to ensure ! safe op]ation ( en]gy effici5cy improvem5ts & t all improvem5ts are in/all$ accord+ to ! applicable /&>ds ( su* c]tification program4 7#b7 ,comput] s(tw>e 7,a7 ,9 g5]al ,any calculation "u p>agraph 7#a77;,b77i7 %all be prep>$ by qualifi$ comput] s(tw>e4 7,b7 ,qualifi$ comput] s(tw>e ,= purposes ( ?is p>agraph1 ! t]m qualifi$ comput] s(tw>e has ! same mean+ giv5 su* t]m "u section #agi;,d7f77#b74 7e7 ,allocation ( d$uction 7#a7 ,9 g5]al ,9 ! case ( a qualifi$ build+ own$ by an eligible entity1 ! ,secret>y %all promulgate regulations to all[ ! allocation ( ! d$uction to ! p]son prim>ily responsible = design+ ! en]gy effici5cy improvem5ts 9 lieu ( ! own] ( su* prop]ty1 ) su* p]son to be treat$ z ! taxpay] = purposes ( ?is section4 7#b7 ,eligible entity ,= purposes ( ?is subsection1 ! t]m eligible entity has ! same mean+ giv5 su* t]m "u section #agi;,d7d77#b74 7f7 ,basis r$uction ,= purposes ( ?is subtitle1 if a d$uction is all[$ "u ?is section ) respect to any en]gy effici5cy improvem5ts1 ! basis ( su* prop]ty %all be r$uc$ by ! am\nt ( ! d$uction s all[$4 7g7 ,coord9ation ) o!r cr$its ,= purposes ( ?is section1 exp5ditures tak5 into acc\nt "u section #dg or #dh;,e %all n be tak5 into acc\nt "u ?is section4 4 7b7 ,con=m+ am5dm5t 7#a7 ,section #bfc7;a7 is am5d$-- 7,a7 9 subp>agraph 7,k71 by /rik+ or at ! end1 7,b7 9 subp>agraph 7,l71 by /rik+ ! p]iod & ins]t+ 1 or1 & 7,c7 by ins]t+ at ! end ! foll[+ new subp>agraph3 7,m7 exp5ditures = :i* a d$uction is all[$ "u section #agi;,f4 4 7#b7 ,section #cab7k77#c77;,b7 is am5d$-- 7,a7 9 ! head+1 by /rik+ or #agi;,e & ins]t+ #agi;,e1 or #agi;,f1 & 7,b7 by /rik+ or #agi;,e & ins]t+ #agi;,e1 or #agi;,f4 7#c7 ,section #ajaf7;a7 is am5d$-- 7,a7 9 p>agraph 7#cf71 by /rik+ & at ! end1 7,b7 9 p>agraph 7#cg71 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & 7,c7 by ins]t+ at ! end ! foll[+ new p>agraph3 7#ch7 to ! ext5t provid$ 9 section #agi;,d7f74 4 7#d7 ,section #abde7;a7 is am5d$-- 7,a7 9 p>agraph 7#b77;,c71 by ins]t+ #agi;,f1 aft] #agi;,e11 & 7,b7 9 p>agraph 7#c77;,c71 by ins]t+ #agi;,f1 aft] #agi;,e14 7#e7 ,! table ( sections = "p ,,vi ( sub*apt] ,b ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #agi;,e ! foll[+ new item3 ,sec4 #agi;,f4 ,d$uction = en]gy effici5cy improvem5ts to comm]cial build+s4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to any en]gy effici5cy improvem5ts plac$ 9 s]vice aft] ,decemb] #ca1 #bjah4 #cjf4 ,tempor>y ext5sion ( exi/+ en]gy effici5cy inc5tives 7a7 ,nonbus9ess en]gy prop]ty 7#a7 ,9 g5]al ,p>agraph 7#b7 ( section #be;,c7g7 is am5d$ by /rik+ ,decemb] #ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjaf4 7b7 ,new en]gy effici5t home cr$it 7#a7 ,9 g5]al ,subsection 7g7 ( section #de,l is am5d$ by /rik+ ,decemb] #ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to any qualifi$ new en]gy effici5t home acquir$ aft] ,decemb] #ca1 #bjaf4 7c7 ,en]gy effici5t comm]cial build+s d$uction 7#a7 ,9 g5]al ,subsection 7h7 ( section #agi;,d is am5d$ by /rik+ ,decemb] #ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4 7#b7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjaf4 ,,iv ,clean ,electricity & ,fuel ,bonds #dja4 ,clean en]gy bonds 7a7 ,9 g5]al ,subp>t ,j ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by add+ at ! end ! foll[+ new section3 #ed;,,bb4 ,clean en]gy bonds 7a7 ,9 g5]al ,if a taxpay] holds a clean en]gy bond on "o or m int]e/ paym5t dates ( ! bond dur+ any taxable ye>1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to ! sum ( ! cr$its det]m9$ "u subsection 7b7 ) respect to su* dates4 7b7 ,am\nt ( cr$it 7#a7 ,9 g5]al ,! am\nt ( ! cr$it det]m9$ "u ?is subsection ) respect to any int]e/ paym5t date = a clean en]gy bond is ! applicable p]c5tage 7z det]m9$ "u p>agraph 7#b77 ( ! am\nt ( int]e/ payable by ! issu] ) respect to su* date4 7#b7 ,applicable p]c5tage 7,a7 ,9 g5]al 7i7 ,maximum p]c5tage ,except z provid$ 9 clause 7ii71 ! applicable p]c5tage is #gj p]c5t4 7ii7 ,r$uction ( cr$it bas$ on gre5h\se gas emission rate ,! applicable p]c5tage %all be r$uc$ 7b n bel[ z]o7 by an am\nt :i* be>s ! same ratio to ! p]c5tage 9 effect "u clause 7i7 z-- 7,i7 9 ! case ( a qualifi$ facility describ$ 9 subsection 7e77#c7 ( section #de,s1 ! gre5h\se gas emissions rate = ! facility be>s to #cbe grams ( ,,co#b;e p] ,k,wh 7z su* t]ms are def9$ 9 subsections 7b77#a7 & 7e77#a7 ( su* section71 or 7,,ii7 9 ! case ( a qualifi$ facility describ$ 9 subsection 7e77#d7 ( section #de,t1 ! av]age emissions rate = all transportation fuel produc$ by su* facility be>s to #ge kilograms ( ,,co#b;e p] mm,b,t,u 7z su* t]ms are def9$ 9 subsections 7b7 & 7e7 ( su* section74 7,b7 ,r\nd+ ,if any applicable p]c5tage det]m9$ "u subp>agraph 7,a7 is n a :ole p]c5tage po9t1 su* p]c5tage %all be r\nd$ to ! ne>e/ :ole p]c5tage po9t4 7,c7 ,safe h>bor rules ,rules simil> to ! rules ( sections #de,s7b77#c7 & #de,t7b7 %all apply = purposes ( ?is section4 7c7 ,limitation bas$ on am\nt ( tax 7#a7 ,9 g5]al ,! cr$it all[$ "u subsection 7a7 = any taxable ye> %all n exce$ ! excess (-- 7,a7 ! sum ( ! regul> tax liability 7z def9$ 9 section #bf7;b77 plus ! tax impos$ by section #ee1 ov] 7,b7 ! sum ( ! cr$its all[able "u ?is "p 7o!r ?an subp>t ,c & ?is subp>t74 7#b7 ,c>ryov] ( unus$ cr$it ,if ! cr$it all[able "u subsection 7a7 exce$s ! limitation impos$ by p>agraph 7#a7 = su* taxable ye>1 su* excess %all be c>ri$ to ! succe$+ taxable ye> & add$ to ! cr$it all[able "u subsection 7a7 = su* taxable ye> 7det]m9$ be=e ! application ( p>agraph 7#a7 = su* succe$+ taxable ye>74 7d7 ,clean en]gy bond 7#a7 ,9 g5]al ,= purposes ( ?is section1 ! t]m clean en]gy bond means any bond issu$ z "p ( an issue if-- 7,a7 #ajj p]c5t ( ! excess ( ! available project proce$s 7z def9$ 9 section #ed;,a7e77#d77 ( su* issue ov] ! am\nts 9 a reasonably requir$ res]ve 7)9 ! mean+ ( section #aej7;a77#c77 ) respect to su* issue are to be us$ = capital exp5ditures incurr$ by an entity describ$ 9 subp>agraph 7,b7 = "o or m qualifi$ facilities1 7,b7 ! bond is issu$ by-- 7i7 a gov]nm5tal body 7z def9$ 9 p>agraph 7#c7 ( section #ed;,c7d771 7ii7 a public p[] provid] 7z def9$ 9 p>agraph 7#b7 ( su* section71 or 7iii7 a coop]ative electric company 7z def9$ 9 p>agraph 7#d7 ( su* section71 & 7,c7 ! issu] makes an irrevocable election to h ?is section apply4 7#b7 ,applicable rules ,= purposes ( apply+ p>agraph 7#a7-- 7,a7 = purposes ( section #adi7;b71 a clean en]gy bond %all n be treat$ z f$]ally gu>ante$ by reason ( ! cr$it all[$ "u subsection 7a7 or section #fdcc1 7,b7 = purposes ( section #adh1 ! yield on a clean en]gy bond %all be det]m9$ )\t reg>d to ! cr$it all[$ "u subsection 7a71 & 7,c7 a bond %all n be treat$ z a clean en]gy bond if ! issue price has m ?an a de m9imis am\nt 7det]m9$ "u rules simil> to ! rules ( section #abgc7;a77#c77 ( premium ov] ! /at$ pr9cipal am\nt ( ! bond4 7#c7 ,qualifi$ facility ,! t]m qualifi$ facility means a facility-- 7,a7 :i* is describ$ 9 section #de,s7e77#c71 or 7,b7 :i* is describ$ 9 section #de,t7e77#d7 & only produces transportation fuel :i* has an emissions rate ( less ?an #ge kilograms ( ,,co#b;e p] mm,b,t,u 7z su* t]ms are def9$ 9 subsections 7b7 & 7e7 ( su* section74 7e7 ,int]e/ paym5t date ,= purposes ( ?is section1 ! t]m int]e/ paym5t date means any date on :i* ! hold] ( record ( ! clean en]gy bond is entitl$ to a paym5t ( int]e/ "u su* bond4 7f7 ,cr$it phase out 7#a7 ,electrical production ,9 ! case ( a clean en]gy bond = :i* ! proce$s are us$ = capital exp5ditures incurr$ by an entity = a qualifi$ facility describ$ 9 subsection 7d77#c77;,a71 if ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy & ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 det]m9es t ! annual gre5h\se gas emissions f electrical production 9 ! ,unit$ ,/ates are equal to or less ?an ! p]c5tage specifi$ 9 section #de,s7d77#a71 ! am\nt ( ! cr$it det]m9$ "u subsection 7b7 ) respect to any clean en]gy bond issu$ dur+ a cal5d> ye> describ$ 9 p>agraph 7#c7 %all be equal to ! product (-- 7,a7 ! am\nt det]m9$ "u subsection 7b7 )\t reg>d to ?is subsection1 multipli$ by 7,b7 ! phase-out p]c5tage "u p>agraph 7#c74 7#b7 ,fuel production ,9 ! case ( a clean en]gy bond = :i* ! proce$s are us$ = capital exp5ditures incurr$ by an entity = a qualifi$ facility describ$ 9 subsection 7d77#c77;,b71 if ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy & ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 det]m9es t ! annual gre5h\se gas emissions f transportation fuel produc$ & sold at retail annually 9 ! ,unit$ ,/ates are equal to or less ?an ! p]c5tage specifi$ 9 section #de,t7d77#a71 ! am\nt ( ! cr$it det]m9$ "u subsection 7b7 ) respect to any clean en]gy bond issu$ dur+ a cal5d> ye> describ$ 9 p>agraph 7#c7 %all be equal to ! product (-- 7,a7 ! am\nt det]m9$ "u subsection 7b7 )\t reg>d to ?is subsection1 multipli$ by 7,b7 ! phase-out p]c5tage "u p>agraph 7#c74 7#c7 ,phase-out p]c5tage ,! phase-out p]c5tage "u ?is p>agraph is equal to-- 7,a7 = any bond issu$ dur+ ! fir/ cal5d> ye> foll[+ ! cal5d> ye> 9 :i* ! det]m9ation describ$ 9 p>agraph 7#a77;,a7 or 7#b77;,a7 is made1 #ge p]c5t1 7,b7 = any bond issu$ dur+ ! second cal5d> ye> foll[+ su* det]m9ation ye>1 #ej p]c5t1 7,c7 = any bond issu$ dur+ ! ?ird cal5d> ye> foll[+ su* det]m9ation ye>1 #be p]c5t1 & 7,d7 = any bond issu$ dur+ any cal5d> ye> subsequ5t to ! ye> describ$ 9 subp>agraph 7,c71 #j p]c5t4 7g7 ,special rules 7#a7 ,int]e/ on clean en]gy bonds includible 9 gross income = ,f$]al income tax purposes ,= purposes ( ?is title1 int]e/ on any clean en]gy bond %all be includible 9 gross income4 7#b7 ,application ( c]ta9 rules ,rules simil> to ! rules ( subsections 7f71 7g71 7h71 & 7i7 ( section #ed;,a %all apply = purposes ( ! cr$it all[$ "u subsection 7a74 7h7 ,regulations ,! ,secret>y may prescribe su* regulations & o!r guidance z may be necess>y or appropriate to c>ry out ?is section & section #fdcc4 4 7b7 ,cr$it = qualifi$ clean en]gy bonds all[$ to issu] ,sub*apt] ,b ( *apt] #fe ( subtitle ,f is am5d$ by add+ at ! end ! foll[+ new section3 #fdcc4 ,cr$it = qualifi$ clean en]gy bonds all[$ to issu] 7a7 ,9 g5]al ,! issu] ( a qualifi$ clean en]gy bond %all be all[$ a cr$it ) respect to ea* int]e/ paym5t "u su* bond :i* %all be payable by ! ,secret>y z provid$ 9 subsection 7b74 7b7 ,paym5t ( cr$it 7#a7 ,9 g5]al ,! ,secret>y %all pay 7contemporane\sly ) ea* int]e/ paym5t date "u su* bond7 to ! issu] ( su* bond 7or to any p]son :o makes su* int]e/ paym5ts on behalf ( ! issu]7 ! applicable p]c5tage 7z det]m9$ "u subsection 7b7 ( section #ed;,,bb7 ( ! int]e/ payable "u su* bond on su* date4 7#b7 ,int]e/ paym5t date ,= purposes ( ?is subsection1 ! t]m int]e/ paym5t date means ea* date on :i* int]e/ is payable by ! issu] "u ! t]ms ( ! bond4 7c7 ,application ( arbitrage rules ,= purposes ( section #adh1 ! yield on a qualifi$ clean en]gy bond %all be r$uc$ by ! cr$it all[$ "u ?is section4 7d7 ,qualifi$ clean en]gy bond ,= purposes ( ?is section1 ! t]m qualifi$ clean en]gy bond means a clean en]gy bond 7z def9$ 9 section #ed;,,bb7d77 issu$ z "p ( an issue if ! issu]1 9 lieu ( any cr$it all[$ "u section #ed;,,bb7a7 ) respect to su* bond1 makes an irrevocable election to h ?is section apply4 4 7c7 ,con=m+ am5dm5ts 7#a7 ,! table ( sections = subp>t ,j ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #ed;,,bb4 ,clean en]gy bonds4 4 7#b7 ,! head+ ( su* subp>t 7& ! item relat+ to su* subp>t 9 ! table ( subp>ts = "p ,,iv ( sub*apt] ,a ( *apt] #a7 are ea* am5d$ by /rik+ ,build ,am]ica ,bonds & ins]t+ ,build ,am]ica ,bonds & ,clean ,en]gy ,bonds4 7#c7 ,! table ( sections = sub*apt] ,b ( *apt] #fe ( subtitle ,f is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #fdcc4 ,cr$it = qualifi$ clean en]gy bonds all[$ to issu]4 4 7#d7 ,subp>agraph 7,a7 ( section #fbaa7;b77#d7 is am5d$ by /rik+ & #fdca & ins]t+ #fdca1 & #fdcc4 7d7 ,gross-,up ( paym5t to issu]s 9 case ( seque/ration 7#a7 ,9 g5]al ,9 ! case ( any paym5t "u subsection 7b7 ( section #fdcc ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by ?is ,act7 made aft] ! date ( ! enactm5t ( ?is ,act to :i* seque/ration applies1 ! am\nt ( su* paym5t %all be increas$ to an am\nt equal to-- 7,a7 su* paym5t 7det]m9$ be=e su* seque/ration71 multipli$ by 7,b7 ! quoti5t obta9$ by divid+ #a by ! am\nt by :i* #a exce$s ! p]c5tage r$uction 9 su* paym5t pursuant to su* seque/ration4 7#b7 ,seque/ration ,= purposes ( ?is subsection1 ! t]m seque/ration means any r$uction 9 direct sp5d+ ord]$ by ! ,presid5t "u ! ,balanc$ ,budget & ,em]g5cy ,deficit ,control ,act ( #aihe or ! ,/atutory ,pay-,z-,y-,g ,act ( #bjaj4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to obligations issu$ aft] ! date ( ! enactm5t ( ?is ,act4