,,ii  #aag? ,,congress  #a/ ,session    
,s4 #abih  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #bb1 #bjba ,mr4 
,wyd5 7= himself1 ,ms4 ,/ab5[1 ,mr4     
,s*um]1 ,ms4 ,cantwell1 ,mr4 ,c>p]1 ,mr4
 ,c>d91 ,mr4 ,b5net1 ,mr4 ,:iteh\se1    
,ms4 ,hassan1 ,ms4 ,cortez ,ma/o1 ,mrs4 
,fe9/e91 ,mr4 ,durb91 ,ms4 ,klobu*>1    
,mrs4 ,%ahe51 ,mrs4 ,gillibr&1 ,mr4     
,blum5?al1 ,mr4 ,s*atz1 ,ms4 ,hirono1   
,mr4 ,he9ri*1 ,mr4 ,ka9e1 ,mr4 ,book]1  
,mr4 ,van ,holl51 ,ms4 ,smi?1 ,ms4      
,baldw91 ,ms4 ,ros51 ,mr4 ,leahy1 ,mr4  
,k+1 & ,mr4 ,murphy7 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--,inc5tives = ,clean         
,electricity ,sec4 #aja4 ,clean         
electricity production cr$it4 ,sec4     
#ajb4 ,clean electricity inve/m5t cr$it4
 ,sec4 #ajc4 ,ext5sions1 modifications1 
& t]m9ations ( v>i\s en]gy provisions4  
,,title ,,ii--,inc5tives = ,clean       
,transportation ,sec4 #bja4 ,clean fuel 
production cr$it4 ,sec4 #bjb4           
,transportation electrification4 ,sec4  
#bjc4 ,tempor>y ext5sions ( exi/+ fuel  
inc5tives4 ,,title ,,iii--,inc5tives =  
,en]gy ,effici5cy ,sec4 #cja4 ,cr$it =  
new en]gy effici5t resid5tial build+s4  
,sec4 #cjb4 ,en]gy effici5t home        
improvem5t cr$it4 ,sec4 #cjc4           
,enhancem5t ( en]gy effici5t comm]cial  
build+s d$uction4 ,sec4 #cjd4           
,enhancem5t ( en]gy cr$it = geo!rmal    

heat pumps4 ,,title ,,iv--,clean        
electricity & fuel bonds ,sec4 #dja4    
,clean en]gy bonds4 ,,title             
,v--,t]m9ation ( c]ta9 fossil fuel      
provisions ,sec4 #eja ,t]m9ation (      
provisions relat+ to oil1 gas1 & o!r    
mat]ials4 ,,title ,,vi--,work=ce        
developm5t requirem5ts ,sec4 #fja4 ,use 
( qualifi$ appr5tices4  ,i ,inc5tives = 
,clean ,electricity  #aja4 ,clean       
electricity 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,u4 ,clean      
electricity production cr$it  7a7 ,am\nt
 ( cr$it ,= purposes ( section #ch1 !   
clean electricity production cr$it = any
 taxable ye> is an am\nt equal to !     
product (-- 7#a7 #a4e c5ts1 multipli$ by
  7#b7 ! kil[att h\rs ( electricity--   
7,a7 produc$ by ! taxpay] at a qualifi$ 
facility1 &  7,b7  7i7 sold by ! taxpay]
 to an unrelat$ p]son dur+ ! taxable    
ye>1 or  7ii7 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  7b7        
,qualifi$ facility  7#a7 ,9 g5]al  7,a7 
,def9ition ,subject to subp>agraphs     
7,b71 7,c71 & 7,d71 ! t]m qualifi$      
facility means a facility-- 7i7 :i* is  
us$ = ! g5]ation ( electricity1  7ii7   
:i* is orig9ally plac$ 9 s]vice aft]    
,decemb] #ca1 #bjbb1  7iii7 = :i* !     
gre5h\se gas emissions rate 7z det]m9$  
"u p>agraph 7#b77 is n great] ?an z]o1 &
  7iv7 9 ! case ( any facility ) a total
 nameplate capacity equal to or great]  
?an #a megawatt1 :i*-- 7,i7 satisfies ! 
requirem5ts "u p>agraph 7#c71 &  7,,ii7 
) respect to ! con/ruction ( su*        
facility1 satisfies ! requirem5ts "u    
section #fja ( ! ,clean ,en]gy = ,am]ica
 ,act4  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 plac$ 9 s]vice be=e ,janu>y #a1    
#bjbc1 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 #bjbb4  7ii7 ,any effici5cy        
improvem5ts or additions ( capacity     
plac$ 9 s]vice aft] ,decemb] #ca1 #bjbb4
  7,d7 ,coord9ation ) o!r cr$its ,! t]m 
qualifi$ facility %all n include any    
facility = :i* a cr$it det]m9$ "u       
section #de1 #de;,j1 #dh1 or #dh;,d is  
all[$ "u section #ch = ! taxable ye> or 
any prior taxable ye>4  7#b7 ,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 facility 9 ! production (          
electricity1 express$ z grams ( ,,co#b;e
 p] ,k,wh4  7,b7 ,fuel combu/ion &      
gasification ,9 ! case ( a facility :i* 

produces electricity ?r\gh combu/ion or 
gasification1 ! gre5h\se gas emissions  
rate = su* facility %all be equal to !  
net rate ( gre5h\se gases emitt$ into ! 
atmosph]e by su* facility 7tak+ into    
acc\nt lifecycle gre5h\se gas emissions1
 z describ$ 9 section #baa7o77#a77;,h7 (
 ! ,clean ,air ,act 7#db ,u4,s4,c4      
#gede7o77#a77;,h777 9 ! production (    
electricity1 express$ z grams ( ,,co#b;e
 p] ,k,wh4  7,c7 ,e/abli%m5t ( emissions
 rates = facilities  7i7 ,9 g5]al ,!    
,secret>y1 9 consultation ) !           
,adm9i/rator ( ! ,environm5tal          
,protection ,ag5cy1 %all e/abli%        
gre5h\se gas emissions rates = types or 
categories ( facilities1 :i* a taxpay]  
%all use = purposes ( ?is section4  7ii7
 ,publi%+ emissions rates ,! ,secret>y  
%all publi% a table t sets =? ! gre5h\se
 gas emissions rates = simil> types or  
categories ( facilities4  7iii7         
,provisional emissions rate  7,i7 ,9    
g5]al ,9 ! case ( any facility = :i* an 
emissions rate has n be5 e/abli%$ by !  

,secret>y1 a taxpay] :i* owns su*       
facility may file a petition ) !        
,secret>y = det]m9ation ( ! emissions   
rate ) respect to su* facility4  7,,ii7 
,e/abli%m5t ( provisional & f9al        
emissions rate ,9 ! case ( a facility = 
:i* a petition describ$ 9 subclause 7,i7
 has be5 fil$1 ! ,secret>y1 9           
consultation ) ! ,adm9i/rator ( !       
,environm5tal ,protection ,ag5cy1 %all--
  7aa7 n lat] ?an #ab mon?s aft] ! date 
on :i* ! petition 0 fil$1 provide a     
provisional emissions rate = su*        
facility :i* a taxpay] %all use =       
purposes ( ?is section1 &  7bb7 n lat]  
?an #bd mon?s aft] ! date on :i* !      
petition 0 fil$1 e/abli% ! emissions    
rate = su* facility4  7,d7 ,c>bon       
capture & seque/ration equipm5t ,=      
purposes ( ?is subsection1 ! am\nt (    
gre5h\se gases emitt$ into ! atmosph]e  
by a facility 9 ! production (          
electricity %all n include any qualifi$ 
c>bon dioxide t is captur$ by ! taxpay] 
&-- 7i7 pursuant to any regulations     

e/abli%$ "u p>agraph 7#b7 ( section     
#de,q7f71 dispos$ ( by ! taxpay] 9      
secure geological /orage1 or  7ii7      
utiliz$ by ! taxpay] 9 a mann] describ$ 
9 p>agraph 7#e7 ( su* section4  7#c7    
,wage requirem5ts ,! requirem5ts        
describ$ 9 ?is p>agraph ) respect to any
 facility are t ! taxpay] %all ensure t 
any labor]s & me*anics employ$ by       
contractors & subcontractors 9--  7,a7 !
 con/ruction ( su* facility1 or  7,b7 = 
any ye> dur+ ! p]iod describ$ 9 p>agraph
 7#a77;,b71 ! alt]ation or repair ( su* 
facility1  %all be paid wages at rates n
 less ?an ! prevail+ rates =            
con/ruction1 alt]ation1 or repair ( a   
simil> "* 9 ! locality z det]m9$ by !   
,secret>y ( ,labor1 9 accordance )      
sub*apt] ,,iv ( *apt] #ca ( title #dj1  
,unit$ ,/ates ,code4  7c7 ,inflation    
adju/m5t  7#a7 ,9 g5]al ,9 ! case ( a   
cal5d> ye> beg9n+ aft] #bjba1 ! #a4e c5t
 am\nt 9 p>agraph 7#a7 ( subsection 7a7 
%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 ! production ( electricity 9
 ! ,unit$ ,/ates are equal to or less   
?an #be p]c5t ( ! annual gre5h\se gas   
emissions f ! production ( electricity 9
 ! ,unit$ ,/ates = cal5d> ye> #bjba1 !  
am\nt ( ! clean electricity production  
cr$it "u subsection 7a7 = any qualifi$  
facility ! con/ruction ( :i* beg9s 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
 ! con/ruction ( :i* beg9s dur+ ! fir/  
cal5d> ye> foll[+ ! cal5d> ye> 9 :i* !  
det]m9ation describ$ 9 p>agraph 7#a7 is 
made1 #ajj p]c5t1  7,b7 = a facility !  
con/ruction ( :i* beg9s dur+ ! second   
cal5d> ye> foll[+ su* det]m9ation ye>1  
#ge p]c5t1  7,c7 = a facility !         

con/ruction ( :i* beg9s dur+ ! ?ird     
cal5d> ye> foll[+ su* det]m9ation ye>1  
#ej 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 
7z det]m9$ bas$ on global w>m+ pot5tial7
 p] kil[att h\r ( electricity produc$4  
7#b7 ,gre5h\se gas ,! t]m gre5h\se gas  
has ! same mean+ giv5 su* t]m "u section
 #baa7o77#a77;,g7 ( ! ,clean ,air ,act  
7#db ,u4,s4,c4 #gede7o77#a77;,g771 z 9  
effect on ! date ( ! enactm5t ( ?is     
section4  7#c7 ,qualifi$ c>bon dioxide  
,! t]m qualifi$ c>bon dioxide means     
c>bon dioxide captur$ f an indu/rial    
s\rce :i*-- 7,a7 w\ld o!rwise be releas$
 into ! atmosph]e z indu/rial emission (
 gre5h\se gas1  7,b7 is measur$ at !    
s\rce ( capture & v]ifi$ at ! po9t (    
disposal or utilization1 &  7,c7 is     
captur$ & dispos$ or utiliz$ )9 ! ,unit$

 ,/ates 7)9 ! mean+ ( section #fch7a77  
or a possession ( ! ,unit$ ,/ates 7)9 ! 
mean+ ( section #fch7b774  7f7 ,f9al    
guidance ,n lat] ?an ,janu>y #a1 #bjbc1 
! ,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 electricity      
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 7a7-- 7i7 ! 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* facility1 &  7ii7 ! am\nt (      
gre5h\se gases emitt$ into ! atmosph]e  
by su* facility 9 ! production ( su*    
useful !rmal en]gy %all be includ$ =    
purposes ( det]m9+ ! gre5h\se gas       
emissions rate = 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,a77i71
 ! 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
  7h7 ,election = direct paym5t  7#a7 ,9
 g5]al ,! am\nt ( any cr$it det]m9$ "u  
subsection 7a7 ) respect to any qualifi$
 facility = any taxable ye> dur+ ! p]iod
 describ$ 9 subsection 7b77#a77;,b7     
%all1 at ! election ( ! taxpay]1 be     
treat$ z a paym5t equal to su* am\nt :i*
 is made by ! taxpay] aga9/ ! tax impos$
 by *apt] #a = su* taxable ye>4  7#b7   
,=m & effect ( election ,an election "u 
p>agraph 7#a7 %all be made prior to !   
date on :i* con/ruction ( ! qualifi$    
facility beg9s & 9 su* mann] z !        
,secret>y may prescribe4 ,su* election1 
once made1 %all--  7,a7 be irrevocable )
 respect to su* qualifi$ facility = !   

p]iod describ$ 9 subsection             
7b77#a77;,b71 &  7,b7 = any taxable ye> 
dur+ su* p]iod1 r$uce ! am\nt ( ! cr$it 
:i* w\ld 7b = ?is p>agraph7 be all[able 
"u ?is section ) respect to su* qualifi$
 facility = su* taxable ye> to z]o4     
7#c7 ,application to p>tn]%ips & ,s     
corporations ,9 ! case ( a p>tn]%ip or  
,s corporation :i* makes an election "u 
p>agraph 7#a7-- 7,a7 su* p>agraph %all  
apply ) respect to su* p>tn]%ip or      
corporation )\t reg>d to ! fact t no tax
 is impos$ by *apt] #a on su* p>tn]%ip  
or corporation1 &  7,b7  7i7 9 ! case ( 
a p>tn]%ip1 ea* p>tn]'s di/ributive %>e 
( ! cr$it det]m9$ "u subsection 7a7 )   
respect to ! qualifi$ facility %all be  
deem$ to be z]o1 &  7ii7 9 ! case ( a ,s
 corporation1 ea* %>ehold]'s pro rata   
%>e ( ! cr$it det]m9$ "u subsection 7a7 
) respect to ! qualifi$ facility %all be
 deem$ to be z]o4  4  7b7 ,con=m+       
am5dm5ts  7#a7 ,section #ch7;b7 is      
am5d$-- 7,a7 9 p>agraph 7#cb71 by /rik+ 
plus at ! end1  7,b7 9 p>agraph 7#cc71  

by /rik+ ! p]iod at ! end & ins]t+ 1    
plus1 &  7,c7 by add+ at ! end ! foll[+ 
new p>agraph3  7#cd7 ! clean electricity
 production cr$it det]m9$ "u section    
#de,u7a74  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,u4 ,clean   
electricity production cr$it4  4  7c7   
,effective date ,! am5dm5ts made by ?is 
section %all apply to facilities plac$ 9
 s]vice aft] ,decemb] #ca1 #bjbb4  #ajb4
 ,clean electricity 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;,c !   
foll[+ new section3  #dh;,d4 ,clean     
electricity inve/m5t cr$it  7a7         
,inve/m5t cr$it = qualifi$ prop]ty  7#a7
 ,9 g5]al ,= purposes ( section #df1 !  
clean electricity inve/m5t cr$it = any  
taxable ye> is-- 7,a7 except z provid$ 9
 subp>agraph 7,b71 an am\nt equal to #cj
 p]c5t ( ! qualifi$ inve/m5t = su*      
taxable ye> ) respect to--  7i7 any     

qualifi$ facility1 &  7ii7 any grid     
improvem5t prop]ty1 &  7,b7 9 ! case ( a
 qualifi$ facility :i* is a microgrid1  
an am\nt equal to ! product (-- 7i7 #cj 
p]c5t ( ! qualifi$ inve/m5t = su*       
taxable ye> ) respect to su* microgrid1 
&  7ii7 ! relative avoid$ emissions rate
 ) respect to su* microgrid 7z det]m9$  
"u subsection 7b77#c77;,c77iv774  7#b7  
,disadvantag$ communities  7,a7 ,9 g5]al
 ,9 ! case ( any qualifi$ facility 7) ! 
exception ( any su* facility describ$ 9 
section #de,u7b77#b77;,b77 or en]gy     
/orage prop]ty :i* is plac$ 9 s]vice )9 
a disadvantag$ community1 p>agraph 7#a7 
%all be appli$ by sub/itut+ #dj p]c5t = 
#cj p]c5t4  7,b7 ,disadvantag$ community
 ,= purposes ( ?is p>agraph1 ! t]m      
disadvantag$ community has ! same mean+ 
giv5 ! t]m l[-income community 9 section
 #de;,d7e77#a74  7b7 ,qualifi$ inve/m5t 
) respect to any qualifi$ facility  7#a7
 ,9 g5]al ,= purposes ( subsection 7a71 
! 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  7,a7 ,9 g5]al ,=    
purposes ( ?is section1 ! t]m qualifi$  
facility means a facility--  7i7 :i* is 
us$ = ! g5]ation ( electricity1  7ii7   
:i* is orig9ally plac$ 9 s]vice aft]    
,decemb] #ca1 #bjbb1  7iii7 = :i* !     
anticipat$ gre5h\se gas emissions rate  
7z det]m9$ "u clause 7ii77 is n great]  
?an z]o1 &  7iv7 9 ! case ( any facility
 ) a total nameplate capacity equal to  

or great] ?an #a megawatt1 :i*--  7,i7  
satisfies ! requirem5ts "u subp>agraph  
7,b77iii71 &  7,,ii7 ) respect to !     
con/ruction ( su* facility1 satisfies ! 
requirem5ts "u section #fja ( ! ,clean  
,en]gy = ,am]ica ,act4  7,b7 ,additional
 rules  7i7 ,expansion ( facility2      
increm5tal production ,rules simil> to !
 rules ( section #de,u7b77#a77;,b7 %all 
apply = purposes ( ?is p>agraph4  7ii7  
,e/abli%m5t ( emissions rates = qualifi$
 facilities  7,i7 ,9 g5]al ,! ,secret>y1
 9 consultation ) ! ,adm9i/rator ( !    
,environm5tal ,protection ,ag5cy1 %all  
e/abli% gre5h\se gas emissions rates =  
types or categories ( facilities1 :i* a 
taxpay] %all use = purposes ( ?is       
section4  7,,ii7 ,publi%+ emissions     
rates ,! ,secret>y %all publi% a table t
 sets =? ! gre5h\se gas emissions rates 
= simil> types or categories (          
facilities4  7iii7 ,wage requirem5ts ,! 
requirem5ts describ$ 9 ?is clause )     
respect to any facility are t ! taxpay] 
%all ensure t any labor]s & me*anics    

employ$ by contractors & subcontractors 
9--  7,i7 ! con/ruction ( su* facility1 
or  7,,ii7 = any ye> dur+ ! #e-ye> p]iod
 beg9n+ on ! date ! facility is         
orig9ally plac$ 9 s]vice1 ! alt]ation or
 repair ( su* facility1  %all be paid   
wages at rates n less ?an ! prevail+    
rates = con/ruction1 alt]ation1 or      
repair ( a simil> "* 9 ! locality z     
det]m9$ by ! ,secret>y ( ,labor1 9      
accordance ) sub*apt] ,,iv ( *apt] #ca (
 title #dj1 ,unit$ ,/ates ,code4  7,c7  
,microgrids  7i7 ,9 g5]al ,= purposes ( 
?is section1 ! t]m qualifi$ facility    
%all include any microgrid4  7ii7       
,microgrid ,= purposes ( ?is section1 ! 
t]m microgrid means an int]connect$     
sy/em ( di/ribut$ en]gy res\rces us$ = !
 g5]ation ( electricity :i*--  7,i7 is  
conta9$ )9 a cle>ly def9$ electrical    
b\nd>y & has ! ability to op]ate z a    
s+le & controllable entity1  7,,ii7 has 
! ability to be manag$ & isolat$ f !    
applicable grid region 9 ord] to )/&    
l>g] di/urbances & ma9ta9 ! supply (    

electricity to connect$ critical        
infra/ructure1 &  7,,iii7 has no po9t ( 
int]connection to ! applicable grid     
region ) a ?r\ghput capacity 9 excess ( 
#bj megawatts4  7iii7 ,applicable grid  
region ,= purposes ( ?is subp>agraph1 ! 
t]m applicable grid region means a set (
 p[] plants & transmission l9es :i*     
are--  7,i7 "u ! control ( a s+le grid  
op]ator1 &  7,,ii7 int]connect$ to !    
microgrid4  7iv7 ,relative avoid$       
emissions rate  7,i7 ,9 g5]al ,=        
purposes ( subsection 7a77#a77;,b77ii71 
! relative avoid$ emissions rate %all be
 ! am\nt equal to ! quoti5t (-- 7aa7 !  
am\nt equal to ! non-baseload output    
emissions rate = ! applicable grid      
region m9us ! gre5h\se gas emissions    
rate = ! microgrid1 divid$ by  7bb7 !   
non-baseload output emissions rate = !  
applicable grid region4  7,,ii7         
,non-baseload output emissions rate     
7aa7 ,9 g5]al ,= purposes ( ?is         
subp>agraph1 ! t]m non-baseload output  
emissions rate means ! am\nt ( gre5h\se 

gases emitt$ into ! atmosph]e by !      
applicable grid region = ! production ( 
electricity 7express$ z grams ( ,,co#b;e
 p] ,k,wh7 above baseload4  7bb7        
,det]m9ation ,! non-baseload output     
emissions rate = any applicable grid    
region %all be det]m9$ by ! ,adm9i/rator
 ( ! ,environm5tal ,protection ,ag5cy1 9
 consultation ) ! ,secret>y4  7,,iii7   
,gre5h\se gas emissions rate ,= purposes
 ( ?is subp>agraph1 ! t]m gre5h\se gas  
emissions rate has ! same mean+ giv5 su*
 t]m "u section #de,u7b77#b74  7,d7     
,exclusion ,! t]m qualifi$ facility %all
 n include any facility = :i* a r5ewable
 electricity production cr$it "u section
 #de1 an advanc$ nucle> p[] facility    
production cr$it "u section #de;,j1 or  
an en]gy cr$it det]m9$ "u section #dh is
 all[$ "u section #ch = ! taxable ye> or
 any prior taxable ye>4  7#d7           
,coord9ation ) rehabilitation cr$it ,!  
qualifi$ inve/m5t ) respect to any      
qualifi$ facility = any taxable ye> %all
 n include t portion ( ! basis ( any    

prop]ty :i* is attributable to qualifi$ 
rehabilitation exp5ditures 7z def9$ 9   
section #dg7;c77#b774  7c7 ,qualifi$    
inve/m5t ) respect to grid improvem5t   
prop]ty  7#a7 ,9 g5]al  7,a7 ,qualifi$  
inve/m5t ,= purposes ( subsection 7a71 !
 qualifi$ inve/m5t ) respect to grid    
improvem5t prop]ty = any taxable ye> is 
! basis ( any grid improvem5t prop]ty   
plac$ 9 s]vice by ! taxpay] dur+ su*    
taxable ye>4  7,b7 ,grid improvem5t     
prop]ty ,= purposes ( ?is section1 ! t]m
 grid improvem5t prop]ty means any en]gy
 /orage prop]ty or qualifi$ transmission
 prop]ty :i*--  7i7 satisfies !         
requirem5ts "u p>agraph 7#d71 &  7ii7 ) 
respect to ! con/ruction ( su* prop]ty1 
satisfies ! requirem5ts "u section #fja 
( ! ,clean ,en]gy = ,am]ica ,act4  7#b7 
,en]gy /orage prop]ty ,= purposes ( ?is 
subsection1 ! t]m en]gy /orage prop]ty  
means prop]ty-- 7,a7 :i* receives1      
/ores1 & deliv]s electricity1 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* has a capacity ( n less ?an #e      
kil[att h\rs1 &  7,f7 :i* is plac$ 9    
s]vice aft] ,decemb] #ca1 #bjba4  7#c7  
,qualifi$ transmission prop]ty  7,a7 ,9 
g5]al ,= purposes ( ?is subsection1 !   
t]m qualifi$ transmission prop]ty       
means--  7i7 any ov]head1 subm>9e1 or   
und]gr\nd transmission prop]ty :i* is   
capable ( transmitt+ electricity at a   
voltage ( n less ?an #bge kilovolts1 &  
7ii7 any o!r equipm5t necess>y = !      
op]ation ( a new circuit1 includ+       
equipm5t li/$ z transmission plant 9 !  
,uni=m ,sy/em ( ,acc\nts = ! ,f$]al     
,en]gy ,regulatory ,commission "u "p    
#aja ( sub*apt] ,c ( *apt] ,i ( title   

#ah1 ,code ( ,f$]al ,regulations4  7,b7 
,exclusion ,! t]m qualifi$ transmission 
prop]ty %all n include any prop]ty us$ =
 di/ribution ( electricity4  7#d7 ,wage 
requirem5ts ,! requirem5ts describ$ 9   
?is p>agraph ) respect to any prop]ty   
are t ! taxpay] %all ensure t any       
labor]s & me*anics employ$ by           
contractors & subcontractors 9--  7,a7 !
 con/ruction ( su* prop]ty1 or  7,b7 =  
any ye> dur+ ! #e-ye> p]iod beg9n+ on ! 
date ! prop]ty is orig9ally plac$ 9     
s]vice1 ! alt]ation or repair ( su*     
prop]ty1  %all be paid wages at rates n 
less ?an ! prevail+ rates = con/ruction1
 alt]ation1 or repair ( a simil> "* 9 ! 
locality z det]m9$ by ! ,secret>y (     
,labor1 9 accordance ) sub*apt] ,,iv (  
*apt] #ca ( title #dj1 ,unit$ ,/ates    
,code4  7d7 ,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  7e7      
,cr$it phase-,out  7#a7 ,9 g5]al ,if !  
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy & ! ,adm9i/rator ( !           
,environm5tal ,protection ,ag5cy1       
det]m9es t ! annual gre5h\se gas        
emissions f ! production ( electricity 9
 ! ,unit$ ,/ates are equal to or less   
?an #be p]c5t ( ! annual gre5h\se gas   
emissions f ! production ( electricity 9
 ! ,unit$ ,/ates = cal5d> ye> #bjba1 !  
am\nt ( ! clean electricity inve/m5t    
cr$it "u subsection 7a7 = any qualifi$  
prop]ty or grid improvem5t prop]ty !    
con/ruction ( :i* beg9s 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 ! con/ruction 
( :i* beg9s dur+ ! fir/ cal5d> ye>      
foll[+ ! cal5d> ye> 9 :i* ! det]m9ation 

describ$ 9 p>agraph 7#a7 is made1 #ajj  
p]c5t1  7,b7 = prop]ty ! con/ruction (  
:i* beg9s dur+ ! second cal5d> ye>      
foll[+ su* det]m9ation ye>1 #ge p]c5t1  
7,c7 = prop]ty ! con/ruction ( :i* beg9s
 dur+ ! ?ird cal5d> ye> foll[+ su*      
det]m9ation ye>1 #ej p]c5t1 &  7,d7 =   
prop]ty ! con/ruction ( :i* beg9s dur+  
any cal5d> ye> subsequ5t to ! ye>       
describ$ 9 subp>agraph 7,c71 #j p]c5t4  
7f7 ,gre5h\se gas ,9 ?is section1 ! t]m 
gre5h\se gas has ! same mean+ giv5 su*  
t]m "u section #de,u7e77#b74  7g7       
,recapture ( cr$it ,= purposes ( section
 #ej1 if ! ,secret>y1 9 consultation ) !
 ,adm9i/rator ( ! ,environm5tal         
,protection ,ag5cy1 det]m9es t !        
gre5h\se gas emissions rate = a qualifi$
 facility is significantly high] ?an !  
anticipat$ gre5h\se gas emissions rate  
claim$ by ! taxpay] = purposes ( ! clean
 electricity inve/m5t cr$it "u ?is      
section1 ! facility or equipm5t %all    
cease to be inve/m5t cr$it prop]ty 9 !  
taxable ye> 9 :i* ! det]m9ation is made4

  7h7 ,f9al guidance ,n lat] ?an ,janu>y
 #a1 #bjbc1 ! ,secret>y1 9 consultation 
) ! ,adm9i/rator ( ! ,environm5tal      
,protection ,ag5cy1 %all issue f9al     
guidance reg>d+ implem5tation ( ?is     
section4  7i7 ,election = direct paym5t 
7#a7 ,9 g5]al ,9 ! case ( any qualifi$  
prop]ty or grid improvem5t prop]ty plac$
 9 s]vice dur+ any taxable ye>1 ! am\nt 
( any cr$it det]m9$ "u subsection 7a7 ) 
respect to su* prop]ty = su* taxable ye>
 %all1 at ! election ( ! taxpay]1 be    
treat$ z a paym5t equal to su* am\nt :i*
 is made by ! taxpay] aga9/ ! tax impos$
 by *apt] #a = su* taxable ye>          
7reg>dless ( :e!r su* tax w\ld h be5 on 
su* taxpay]74  7#b7 ,=m & effect (      
election ,an election "u p>agraph 7#a7  
%all be made prior to ! date on :i*     
con/ruction ( ! qualifi$ prop]ty or grid
 improvem5t prop]ty beg9s & 9 su* mann] 
z ! ,secret>y may prescribe4 ,su*       
election1 once made1 %all--  7,a7 be    
irrevocable ) respect to ! qualifi$     
prop]ty or grid improvem5t prop]ty to   

:i* su* election applies1 &  7,b7 r$uce 
! am\nt ( ! cr$it :i* w\ld 7b = ?is     
subsection7 be all[able "u ?is section )
 respect to su* prop]ty = ! taxable ye> 
9 :i* su* prop]ty is plac$ 9 s]vice to  
z]o4  7#c7 ,application to p>tn]%ips &  
,s corporations ,rules simil> to ! rules
 ( section #de,u7h77#c7 %all apply =    
purposes ( ?is subsection4  4  7#b7     
,public utility prop]ty ,p>agraph 7#b7 (
 section #ej7;d7 is am5d$--  7,a7 by    
add+ aft] ! fir/ s5t5ce ! foll[+ new    
s5t5ce3 ,at ! election ( a taxpay]1 ?is 
p>agraph %all n apply to any grid       
improvem5t prop]ty 7z def9$ 9 section   
#dh;,d7c77#a77;,b771 provid$--1 &  7,b7 
by add+ ! foll[+ new subp>agraphs3  7,a7
 no election "u ?is p>agraph %all be    
p]mitt$ if ! mak+ ( su* election is     
prohibit$ by1 or requir$ by1 a ,/ate or 
political subdivision !re(1 by any ag5cy
 or in/rum5tality ( ! ,unit$ ,/ates1 or 
by a public s]vice or public utility    
commission or o!r simil> body ( any     
,/ate or political subdivision t        

regulates public utilities z describ$ 9 
section #ggja7;a77#cc77;,a71  7,b7 an   
election "u ?is p>agraph %all be made   
sep>ately ) respect to ea* grid         
improvem5t prop]ty by ! due date        
7includ+ ext5sions7 ( ! ,f$]al tax      
return = ! taxable ye> 9 :i* su* prop]ty
 is plac$ 9 s]vice by ! taxpay]1 & once 
made1 may be revok$ only ) ! cons5t ( ! 
,secret>y1 &  7,c7 an election %all n   
apply ) respect to any en]gy /orage     
prop]ty 7z def9$ 9 section              
#dh;,d7c77#b77 if su* prop]ty has a     
maximum capacity equal to or less ?an   
#ejj kil[att h\rs4  4  7#c7 ,con=m+     
am5dm5ts  7,a7 ,section #df is am5d$--  
7i7 by /rik+ 8&0 at ! end ( p>agraph    
7#e71  7ii7 by /rik+ ! p]iod at ! end ( 
p>agraph 7#f7 & ins]t+ 81 &01 &  7iii7  
by add+ at ! end ! foll[+ new p>agraph3 
7#g7 ! clean electricity inve/m5t cr$it4
  4  7,b7 ,section #di7;a77#a77;,c7 is  
am5d$-- 7i7 by /rik+ 8&0 at ! end (     
clause 7iv71  7ii7 by /rik+ ! p]iod at !
 end ( clause 7v7 & ins]t+ a comma1 &   

7iii7 by add+ at ! end ! foll[+ new     
clauses3  7vi7 ! basis ( any qualifi$   
prop]ty :i* is "p ( a qualifi$ facility 
"u section #dh;,d1 &  7vii7 ! basis (   
any en]gy /orage prop]ty "u section     
#dh;,d4  4  7,c7 ,section               
#ej7;a77#b77;,e7 is am5d$ by /rik+ or   
#dh;,c7b77#b7 & ins]t+ #dh;,c7b77#b71 or
 #dh;,d7e74  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;,c ! foll[+ new   
item3  #dh;,d4 ,clean electricity       
inve/m5t cr$it4  4  7#d7 ,effective date
 ,! am5dm5ts made by ?is subsection %all
 apply to prop]ty plac$ 9 s]vice aft]   
,decemb] #ca1 #bjbb1 "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 ,resid5tial clean      
electricity cr$it  7a7 ,all[ance ( cr$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 #cj p]c5t ( ! exp5ditures made by ! 
taxpay] = any qualifi$ prop]ty & any    
en]gy /orage prop]ty :i* is-- 7#a7 = use
 9 connection ) a dwell+ unit :i* is    
locat$ 9 ! ,unit$ ,/ates & us$ z a      
resid5ce by ! taxpay]1 &  7#b7 plac$ 9  
s]vice dur+ su* taxable ye>4  7b7       
,qualifi$ prop]ty  7#a7 ,9 g5]al ,! 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 #bjbb1 &  7,f7 = :i* 
! anticipat$ gre5h\se gas emissions rate
 7z det]m9$ "u p>agraph 7#b77 is n      
great] ?an z]o4  7#b7 ,e/abli%m5t (     
emissions rates = qualifi$ prop]ty  7,a7
 ,9 g5]al ,! ,secret>y1 9 consultation )
 ! ,adm9i/rator ( ! ,environm5tal       

,protection ,ag5cy1 %all e/abli%        
gre5h\se gas emissions rates = types or 
categories ( qualifi$ prop]ty :i* are = 
use 9 a dwell+ unit1 :i* a taxpay] %all 
use = purposes ( ?is section4  7,b7     
,publi%+ emissions rates ,! ,secret>y   
%all publi% a table t sets =? ! gre5h\se
 gas emissions rates = simil> types or  
categories ( qualifi$ prop]ty4  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$ or sold by ! taxpay]1  7#b7  
is equipp$ ) a met]+ device :i* is own$ 
& op]at$ by an unrelat$ p]son1 &  7#c7  
has a capacity ( n less ?an #c kil[att  
h\rs4  7d7 ,c>ry=w>d ( unus$ cr$it  7#a7
 ,9 g5]al ,if ! cr$it all[able "u       
subsection 7a7 exce$s ! applicable tax  
limit1 su* excess %all be c>ri$ to ea* (
 ! #c succe$+ taxable ye>s & add$ to !  
cr$it all[able "u subsection 7a7 = su*  
succe$+ taxable ye>4  7#b7 ,limitation  
,! am\nt ( ! unus$ cr$it :i* may be tak5

 into acc\nt "u p>agraph 7#a7 = any     
taxable ye> %all n exce$ ! am\nt 7if    
any7 by :i* ! applicable tax limit = su*
 taxable ye> exce$s ! sum (--  7,a7 !   
cr$it all[able "u subsection 7a7 = :i*  
su* taxable ye> det]m9$ )\t reg>d to ?is
 subsection1 &  7,b7 ! am\nts :i*1 by   
reason ( ?is subsection1 are c>ri$ to   
su* taxable ye> & are attributable to   
taxable ye>s be=e ! unus$ cr$it ye>4    
7#c7 ,applicable tax limit ,= purposes (
 ?is subsection1 ! t]m applicable tax   
limit means ! limitation impos$ by      
section #bf7;a7 = su* taxable ye> r$uc$ 
by ! sum ( ! cr$its all[able "u ?is     
subp>t 7o!r ?an ?is section74  7e7      
,cr$it phase-,out  7#a7 ,9 g5]al ,if !  
,secret>y det]m9es t ! annual gre5h\se  
gas emissions f ! production (          
electricity 9 ! ,unit$ ,/ates are equal 
to or less ?an ! p]c5tage specifi$ 9    
section #dh;,d7e71 ! 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 #ajj p]c5t1  7,b7 =       
prop]ty plac$ 9 s]vice dur+ ! second    
cal5d> ye> foll[+ su* det]m9ation ye>1  
#ge p]c5t1  7,c7 = prop]ty plac$ 9      
s]vice dur+ ! ?ird cal5d> ye> foll[+ su*
 det]m9ation ye>1 #ej 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[$4  7h7 ,f9al guidance ,n  
lat] ?an ,janu>y #a1 #bjbc1 ! ,secret>y1
 9 consultation ) ! ,adm9i/rator ( !    
,environm5tal ,protection ,ag5cy1 %all  
issue f9al guidance reg>d+ implem5tation
 ( ?is section1 includ+ calculation (   
gre5h\se gas emission rates = qualifi$  
prop]ty & det]m9ation ( resid5tial clean
 electricity 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;,d7g74  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 ,resid5tial clean
 electricity cr$it4  4  7#c7 ,effective 
date ,! am5dm5ts made by ?is section    
%all apply to prop]ty plac$ 9 s]vice    
aft] ,decemb] #ca1 #bjbb4  #ajc4        
,ext5sions1 modifications1 & t]m9ations 
( v>i\s en]gy provisions  7a7           
,resid5tial en]gy effici5t prop]ty  7#a7
 ,9 g5]al ,section #be;,d7h7 is am5d$ by
 /rik+ ,decemb] #ca1 #bjbc & ins]t+     
,decemb] #ca1 #bjbb4  7#b7 ,elim9ation (

 phase-out ,section #be;,d7g7 is am5d$--
 7,a7 9 p>agraph 7#a71 by add+ & at !   
end1  7,b7 9 p>agraph 7#b71 by /rik+ 1 &
 & ins]t+ a p]iod1 &  7,c7 by /rik+     
p>agraph 7#c74  7#c7 ,effective date ,! 
am5dm5ts made by ?is subsection %all    
apply to prop]ty plac$ 9 s]vice aft] !  
date ( enactm5t ( ?is ,act4  7b7        
,t]m9ation ( allocation ( unutiliz$     
limitation = advanc$ nucle> p[]         
facilities ,section #de;,j7b7 is am5d$  
by /rik+ p>agraph 7#e74  7c7            
,modification ( cr$it = c>bon dioxide   
seque/ration  7#a7 ,9 g5]al ,section    
#de,q is am5d$-- 7,a7 9 subsection      
7a77#d77;,b77i71 by ins]t+ subject to   
subsection 7f77#h71 be=e us$ by1  7,b7 9
 subsection 7b77#a7-- 7i7 9 subp>agraph 
7,a71 by /rik+ ,! applicable doll> am\nt
 & ins]t+ ,except z provid$ 9           
subp>agraph 7,b71 ! applicable doll>    
am\nt1  7ii7 by r$esignat+ subp>agraph  
7,b7 z subp>agraph 7,c71  7iii7 by      
ins]t+ aft] subp>agraph 7,a7 ! foll[+3  
7,b7 ,applicable doll> am\nt = direct   

air capture facilities ,9 ! case ( any  
qualifi$ facility describ$ 9 subsection 
7d77#a7 = :i* con/ruction beg9s aft] !  
date ( enactm5t ( ! ,clean ,en]gy =     
,am]ica ,act1 ! applicable doll> am\nt  
%all be an am\nt equal to-- 7i7 = any   
taxable ye> beg9n+ 9 a cal5d> ye> be=e  
#bjbg--  7,i7 = purposes ( p>agraph 7#c7
 ( subsection 7a71 #age1 &  7,,ii7 =    
purposes ( p>agraph 7#d7 ( su*          
subsection1 #aej1 &  7ii7 = any taxable 
ye> beg9n+ 9 a cal5d> ye> aft] #bjbf--  
7,i7 = purposes ( p>agraph 7#c7 (       
subsection 7a71 an am\nt equal to !     
product ( #age & ! inflation adju/m5t   
factor = su* cal5d> ye> det]m9$ "u      
section #dc7;b77#c77;,b7 = su* cal5d>   
ye>1 det]m9$ by sub/itut+ #bjbe = #aiij1
 &  7,,ii7 = purposes ( p>agraph 7#d7 ( 
su* subsection1 an am\nt equal to !     
product ( #aej & ! inflation adju/m5t   
factor = su* cal5d> ye> det]m9$ "u      
section #dc7;b77#c77;,b7 = su* cal5d>   
ye>1 det]m9$ by sub/itut+ #bjbe = #aiij4
  1 &  7iv7 9 subp>agraph 7,c71 z s     

r$esignat$1 by ins]t+ or 7,b7 aft]      
subp>agraph 7,a71  7,c7 by /rik+        
subsection 7d7 & ins]t+ ! foll[+3  7d7  
,qualifi$ facility ,= purposes ( ?is    
section1 ! t]m qualifi$ facility means--
  7#a7 any direct air capture facility1 
&  7#b7 any indu/rial facility :i*      
captures--  7,a7 9 ! case ( an          
electricity g5]at+ facility1 n less ?an 
#ge p]c5t ( ! c>bon oxide :i* w\ld      
o!rwise be releas$ into ! atmosph]e1 or 
7,b7 9 ! case ( an indu/rial facility   
:i* is n an electricity g5]at+ facility1
 n less ?an #ej p]c5t ( ! c>bon oxide   
:i* w\ld o!rwise be releas$ into !      
atmosph]e4  1  7,d7 9 subsection 7f71 by
 add+ at ! end ! foll[+3  7#h7          
,elim9ation ( use ( c>bon oxide z t]ti>y
 injectant ,9 ! case ( any qualifi$     
facility ! con/ruction ( :i* beg9s aft] 
! date ( enactm5t ( ! ,clean ,en]gy =   
,am]ica ,act1 subsection 7a77#d77;,b77i7
 %all n apply4  1  7,e7 by r$esignat+   
subsection 7h7 z subsection 7i71 &  7,f7
 by ins]t+ aft] subsection 7g7 ! foll[+3

  7h7 ,cr$it phase-,out  7#a7 ,9 g5]al  
7,a7 ,r$uction bas$ on emissions f      
production ( electricity ,subject to    
subp>agraphs 7,b7 & 7,c71 if !          
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy & ! ,adm9i/rator ( !           
,environm5tal ,protection ,ag5cy1       
det]m9es t ! annual gre5h\se gas        
emissions f ! production ( electricity 9
 ! ,unit$ ,/ates are equal to or less   
?an #be p]c5t ( ! annual gre5h\se gas   
emissions f ! production ( electricity 9
 ! ,unit$ ,/ates = cal5d> ye> #bjba1 !  
am\nt ( ! c>bon oxide seque/ration cr$it
 "u subsection 7a7 = any qualifi$       
facility ! con/ruction ( :i* beg9s dur+ 
a cal5d> ye> describ$ 9 p>agraph 7#b7   
%all be equal to ! product (-- 7i7 !    
am\nt ( ! cr$it det]m9$ "u subsection   
7a7 )\t reg>d to ?is subsection1        
multipli$ by  7ii7 ! phase-out p]c5tage 
"u p>agraph 7#b74  7,b7 ,o!r indu/rial  
facilities ,9 ! case ( any qualifi$     
facility describ$ 9 subsection          
7d77#b77;,b7 ! con/ruction ( :i* beg9s  

dur+ a cal5d> ye> describ$ 9 p>agraph   
7#b71 subp>agraph 7,a7 %all be appli$ by
 sub/itut+ indu/rial sector = production
 ( electricity ea* place x appe>s4  7,c7
 ,direct air capture facilities ,9 !    
case ( any qualifi$ facility describ$ 9 
subsection 7d77#a71 subp>agraph 7,a7    
%all n apply4  7#b7 ,phase-out p]c5tage 
,! phase-out p]c5tage "u ?is p>agraph is
 equal to--  7,a7 = a facility !        
con/ruction ( :i* beg9s dur+ ! fir/     
cal5d> ye> foll[+ ! cal5d> ye> 9 :i* !  
det]m9ation describ$ 9 p>agraph         
7#a77;,a7 is made1 #ajj p]c5t1  7,b7 = a
 facility ! con/ruction ( :i* beg9s dur+
 ! second cal5d> ye> foll[+ su*         
det]m9ation ye>1 #ge p]c5t1  7,c7 = a   
facility ! con/ruction ( :i* beg9s dur+ 
! ?ird cal5d> ye> foll[+ su* det]m9ation
 ye>1 #ej p]c5t1 &  7,d7 = a facility ! 
con/ruction ( :i* beg9s dur+ any cal5d> 
ye> subsequ5t to ! ye> describ$ 9       
subp>agraph 7,c71 #j p]c5t4  4  7#b7    
,elim9ation ( election = applicable     
facilities  7,a7 ,9 g5]al ,section      

#de,q7f71 z am5d$ by p>agraph 7#a77;,c71
 is am5d$-- 7i7 by /rik+ p>agraph 7#f71 
&  7ii7 by r$esignat+ p>agraphs 7#g7 &  
7#h7 z p>agraphs 7#f7 & 7#g71           
respectively4  7,b7 ,con=m+ am5dm5t     
,section #de,q7a77#d77;,b77i71 z am5d$  
by p>agraph 7#a77;,a71 is am5d$ by /rik+
 subsection 7f77#h7 & ins]t+ subsection 
7f77#g74  7#c7 ,wage requirem5ts        
,section #de,q7f71 z am5d$ by p>agraphs 
7#a77;,c7 & 7#b71 is am5d$ by add+ at ! 
end ! foll[+3  7#h7 ,wage requirem5ts   
7,a7 ,9 g5]al ,! t]m qualifi$ facility  
%all n include any facility :i* fails to
 satisfy--  7i7 ! requirem5ts "u        
subp>agraph 7,b71 &  7ii7 ) respect to--
  7,i7 ! con/ruction ( any facility !   
con/ruction ( :i* beg9s aft] ! date (   
enactm5t ( ! ,clean ,en]gy = ,am]ica    
,act1 &  7,,ii7 ! con/ruction ( any     
c>bon capture equipm5t1  ! requirem5ts  
"u section #fja ( ! ,clean ,en]gy =     
,am]ica ,act4  7,b7 ,requirem5ts ,!     
requirem5ts describ$ 9 ?is clause )     
respect to any facility1 & any c>bon    

capture equipm5t plac$ 9 s]vice at su*  
facility1 are t ! taxpay] %all ensure t 
any labor]s & me*anics employ$ by       
contractors & subcontractors 9-- 7i7 9 !
 case ( any facility ! con/ruction ( :i*
 beg9s aft] ! date ( enactm5t ( ! ,clean
 ,en]gy = ,am]ica ,act1 ! con/ruction ( 
su* facility1 or  7ii7 dur+ ! #ab-ye>   
p]iod beg9n+ on ! date on :i* c>bon     
capture equipm5t is orig9ally plac$ 9   
s]vice at any facility 7z describ$ 9    
p>agraphs 7#c77;,a7 & 7#d77;,a7 (       
subsection 7a771 ! alt]ation or repair (
 su* facility or su* equipm5t1  %all be 
paid wages at rates n less ?an !        
prevail+ rates = con/ruction1 alt]ation1
 or repair ( a simil> "* 9 ! locality z 
det]m9$ by ! ,secret>y ( ,labor1 9      
accordance ) sub*apt] ,,iv ( *apt] #ca (
 title #dj1 ,unit$ ,/ates ,code4  4     
7#d7 ,election = direct paym5t ,section 
#de,q1 z am5d$ by ! prec$+ p>agraphs (  
?is subsection1 is am5d$--  7,a7 by     
r$esignat+ subsection 7i7 z subsection  
7j71 &  7,b7 by ins]t+ aft] subsection  

7h7 ! foll[+3  7i7 ,election = direct   
paym5t  7#a7 ,9 g5]al ,! am\nt ( any    
cr$it det]m9$ "u p>agraph 7#c7 or 7#d7 (
 subsection 7a7 ) respect to any        
qualifi$ c>bon oxide = any taxable ye>  
dur+ ! p]iod describ$ 9 p>agraph        
7#c77;,a7 or 7#d77;,a7 ( su* subsection1
 respectively1 %all1 at ! election ( !  
taxpay]1 be treat$ z a paym5t equal to  
su* am\nt :i* is made by ! taxpay] aga9/
 ! tax impos$ by *apt] #a = su* taxable 
ye>4  7#b7 ,=m & effect ( election ,an  
election "u p>agraph 7#a7 %all be made  
prior to ! date on :i* con/ruction ( !  
c>bon capture equipm5t beg9s & 9 su*    
mann] z ! ,secret>y may prescribe4 ,su* 
election1 once made1 %all--  7,a7 be    
irrevocable ) respect to su* c>bon      
capture equipm5t = ! p]iod describ$ 9   
p>agraph 7#c77;,a7 or 7#d77;,a7 (       
subsection 7a71 &  7,b7 = any taxable   
ye> dur+ su* p]iod1 r$uce ! am\nt ( !   
cr$it :i* w\ld 7b = ?is p>agraph7 be    
all[able "u ?is section ) respect to su*
 equipm5t = su* taxable ye> to z]o4     

7#c7 ,application to p>tn]%ips & ,s     
corporations ,rules simil> to ! rules ( 
section #de,u7h77#c7 %all apply =       
purposes ( ?is subsection4  4  7#e7     
,effective dates  7,a7 ,9 g5]al ,!      
am5dm5ts made by p>agraph 7#a7 %all     
apply to facilities ! con/ruction ( :i* 
beg9s aft] ! date ( enactm5t ( ?is ,act4
  7,b7 ,elim9ation ( election =         
applicable facilities ,! am5dm5ts made  
by p>agraph 7#b7 %all take effect on !  
date ( enactm5t ( ?is ,act4  7,c7 ,wage 
requirem5ts ,! am5dm5ts made by p>agraph
 7#c7 %all apply to facilities or       
equipm5t ! con/ruction ( :i* beg9s aft] 
,decemb] #ca1 #bjba4  7,d7 ,election =  
direct paym5t ,! am5dm5ts made by       
p>agraph 7#d7 %all apply to equipm5t !  
con/ruction ( :i* beg9s aft] ,decemb]   
#ca1 #bjba4  7d7 ,modification ( cr$its 
= en]gy prop]ty  7#a7 ,sol> en]gy       
prop]ty ,subclause 7,,ii7 ( section     
#dh7;a77#b77;,a77i7 is am5d$ by /rik+   
,janu>y #a1 #bjbd & ins]t+ ,janu>y #a1  
#bjbc4  7#b7 ,phase-outs ,section       

#dh7;a7 is am5d$-- 7,a7 9 p>agraph      
7#f7--  7i7 by /rik+ subp>agraph 7,a7 & 
ins]t+ ! foll[+3  7,a7 ,9 g5]al ,subject
 to subp>agraph 7,b71 9 ! case ( any    
en]gy prop]ty describ$ 9 p>agraph       
7#c77;,a77i7 ! con/ruction ( :i* beg9s  
aft] ,decemb] #ca1 #bjai1 be=e ,janu>y  
#a1 #bjbc1 ! en]gy p]c5tage det]m9$ "u  
p>agraph 7#b7 %all be equal to #bf      
p]c5t4  1 &  7ii7 9 subp>agraph 7,b71 by
 /rik+ ,janu>y #a1 #bjbd & ins]t+       
,janu>y #a1 #bjbc1 &  7,b7 9 p>agraph   
7#g71 by /rik+ subp>agraph 7,a7 & ins]t+
 ! foll[+3  7,a7 ,9 g5]al ,subject to   
subp>agraph 7,b71 9 ! case ( any        
qualifi$ fuel cell prop]ty1 qualifi$    
small w9d prop]ty1 wa/e en]gy recov]y   
prop]ty1 or en]gy prop]ty describ$ 9    
p>agraph 7#c77;,a77ii7 ! con/ruction (  
:i* beg9s aft] ,decemb] #ca1 #bjai1 &   
be=e ,janu>y #a1 #bjbc1 ! en]gy p]c5tage
 det]m9$ "u p>agraph 7#b7 %all be equal 
to #bf p]c5t4  4  7#c7 ,effective date  
,! am5dm5ts made by ?is subsection %all 
take effect on ! date ( enactm5t ( ?is  

,act4  7e7 ,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 prop]ty !           
con/ruction ( :i* beg9s be=e ,janu>y #a1
 #bjbc1 aft] swimm+ pool11 &  7,b7 9    
clause 7ii71 by /rik+ ,janu>y #a1 #bjbd 
& ins]t+ ,janu>y #a1 #bjbc4  7#b7       
,geo!rmal en]gy prop]ty ,section        
#dh7;a77#c77;,a77iii7 is am5d$ by ins]t+
 ) respect to prop]ty ! con/ruction (   
:i* beg9s be=e ,janu>y #a1 #bjbc1 & aft]
 b only4  7#c7 ,qualifi$ (f%ore w9d     
facilities ,section #dh7;a77#e77;,f7 is 
am5d$ by /rik+ ,janu>y #a1 #bjbf ea*    
place x appe>s & ins]t+ ,janu>y #a1     
#bjbc4  7#d7 ,qualifi$ fuel cell prop]ty
 ,section #dh7;c77#a77;,d7 is am5d$ by  
/rik+ ,janu>y #a1 #bjbd & ins]t+ ,janu>y
 #a1 #bjbc4  7#e7 ,qualifi$ microturb9e 
prop]ty ,section #dh7;c77#b77;,d7 is    
am5d$ by /rik+ ,janu>y #a1 #bjbd &      
ins]t+ ,janu>y #a1 #bjbc4  7#f7 ,comb9$ 
heat & p[] sy/em prop]ty ,section       
#dh7;c77#c77;,a77iv7 is am5d$ by /rik+  

,janu>y #a1 #bjbd & ins]t+ ,janu>y #a1  
#bjbc4  7#g7 ,qualifi$ small w9d en]gy  
prop]ty ,section #dh7;c77#d77;,c7 is    
am5d$ by /rik+ ,janu>y #a1 #bjbd &      
ins]t+ ,janu>y #a1 #bjbc4  7#h7 ,wa/e   
en]gy recov]y prop]ty ,section          
#dh7;c77#e77;,d7 is am5d$ by /rik+      
,janu>y #a1 #bjbd & ins]t+ ,janu>y #a1  
#bjbc4  7f7 ,co/ recov]y = qualifi$     
facilities1 qualifi$ prop]ty1 & grid    
improvem5t prop]ty  7#a7 ,9 g5]al       
,section #afh7;e77#c77;,b7 is am5d$--   
7,a7 9 clause 7vi77,,iii71 by /rik+ & at
 ! end1  7,b7 9 clause 7vii71 by /rik+ !
 p]iod at ! end & ins]t+ 1 &1 &  7,c7 by
 ins]t+ aft] clause 7vii7 ! foll[+3     
7viii7 any qualifi$ facility 7z def9$ 9 
section #de,u7b77#a77;,a771 any qualifi$
 prop]ty 7z def9$ 9 subsection 7b77#b7 (
 section #dh;,d71 or any grid improvem5t
 prop]ty 7z def9$ 9 subsection          
7c77#a77;,b7 ( su* section74  4  7#b7   
,alt]native sy/em ,! table conta9$ 9    
section #afh7;g77#c77;,b7 is am5d$ by   
ins]t+ aft] ! item relat+ to subp>agraph

 7,b77vii7 ! foll[+ new item3           
7,b77viii7#cj  4  7#c7 ,effective date  
,! am5dm5ts made by ?is subsection %all 
apply to facilities & prop]ty plac$ 9   
s]vice aft] ,decemb] #ca1 #bjbb4  ,,ii  
,inc5tives = ,clean ,transportation     
#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,v4 ,clean fuel production 
cr$it  7a7 ,am\nt ( cr$it  7#a7 ,9 g5]al
 ,= purposes ( section #ch1 ! clean fuel
 production cr$it = any taxable ye> is  
an am\nt equal to-- 7,a7 = any          
transportation fuel sold dur+ any cal5d>
 ye> end+ be=e ,janu>y #a1 #bjcj1 &     
am\nt equal to ! product (--  7i7 #a4jj 
p] gallon 7or gallon equival5t7 )       
respect to any transportation fuel :i*  
is-- 7,i7 produc$ by ! taxpay] at a     
qualifi$ facility1 &  7,,ii7 sold by !  
taxpay] 9 a mann] describ$ 9 p>agraph   
7#c71 &  7ii7 ! emissions factor = su*  
fuel 7z det]m9$ "u subsection 7b771 &   

7,b7 = any transportation fuel sold dur+
 any cal5d> ye> beg9n+ aft] ,decemb]    
#ca1 #bjbi1 an am\nt equal to !         
applicable am\nt 7z det]m9$ "u p>agraph 
7#b77 p] gallon 7or gallon equival5t7 ) 
respect to any transportation fuel :i*  
is-- 7i7 produc$ by ! taxpay] at a      
qualifi$ facility1 &  7ii7 sold by !    
taxpay] 9 a mann] describ$ 9 p>agraph   
7#c74  7#b7 ,applicable am\nt ,=        
purposes ( p>agraph 7#a77;,b71 !        
applicable am\nt ) respect to any       
transportation fuel %all be an am\nt    
equal to #a4jj increas$ by #aj c5ts = e 
kilogram ( ,,co#b;e p] mm,b,t,u 7or     
fraction !re(7 = :i* ! emissions rate = 
su* fuel is bel[ z]o4  7#c7 ,sale ,=    
purposes ( p>agraph 7#a71 !             
transportation fuel is sold 9 a mann]   
describ$ 9 ?is p>agraph if su* fuel is  
sold by ! taxpay] to an unrelat$ p]son--
 7,a7 = use by su* p]son 9 ! production 
( a fuel mixture1  7,b7 = use by su*    
p]son 9 a trade or bus9ess1 or  7,c7 :o 
sells su* fuel at retail to ano!r p]son 

& places su* fuel 9 ! fuel tank ( su*   
o!r p]son4  7#d7 ,r\nd+ ,if any am\nt   
det]m9$ "u p>agraph 7#a77;,a7 or 7#b7 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 ,calculation    
7i7 ,9 g5]al ,! emissions factor ( a    
transportation fuel %all be an am\nt    
equal to ! quoti5t (--  7,i7 an am\nt   
equal to-- 7aa7 ! basel9e emissions     
rate1 m9us  7bb7 ! emissions rate = su* 
fuel1 divid$ by  7,,ii7 ! basel9e       
emissions rate4  7,b7 ,basel9e emissions
 rate ,= purposes ( ?is p>agraph1 ! t]m 
basel9e emissions rate means-- 7i7 = any
 cal5d> ye> end+ be=e ,janu>y #a1 #bjbf1
 #ge kilograms ( ,,co#b;e p] mm,b,t,u1  
7ii7 = cal5d> ye>s #bjbf & #bjbg1 #ej   
kilograms ( ,,co#b;e p] mm,b,t,u1 &     
7iii7 = cal5d> ye>s #bjbh & #bjbi1 #be  
kilograms ( ,,co#b;e p] mm,b,t,u4  7,c7 
,e/abli%m5t ( emissions rate ,!         
,secret>y1 9 consultation ) !           
,adm9i/rator ( ! ,environm5tal          

,protection ,ag5cy1 %all e/abli% !      
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] %all use = purposes ( ?is       
section4  7,d7 ,r\nd+ ( emissions rate  
,! ,secret>y may r\nd ! emissions rates 
"u subp>agraph 7,b7 to ! ne>e/ multiple 
( #e kilograms ( ,,co#b;e p] mm,b,t,u1  
except t1 9 ! case ( an emissions rate t
 is less ?an #b4e kilograms ( ,,co#b;e  
p] mm,b,t,u1 ! ,secret>y may r\nd su*   
rate to z]o4  7,e7 ,provisional         
emissions rate  7i7 ,9 g5]al ,9 ! case (
 any transportation fuel = :i* an       
emissions rate has n be5 e/abli%$ by !  
,secret>y1 a taxpay] produc+ su* fuel   
may file a petition ) ! ,secret>y =     
det]m9ation ( ! emissions rate ) respect

 to su* fuel4  7ii7 ,e/abli%m5t (       
provisional & f9al 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  
emissions rate = su* fuel :i* a taxpay] 
%all use = purposes ( ?is section1 &    
7,,ii7 n lat] ?an #bd mon?s aft] ! date 
on :i* ! petition 0 fil$1 e/abli% !     
emissions rate = su* fuel4  7,f7 ,r\nd+ 
,if any am\nt det]m9$ "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%+ emissions rate ,!  
,secret>y %all publi% a table t sets =? 
! 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] #bjbc1 ! 
#a4jj am\nt 9 p>agraphs 7#a77;,a77i7 &  

7#b7 ( subsection 7a7 %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,u7c71 det]m9$ by sub/itut+  
cal5d> ye> #bjbb = cal5d> ye> #aiib 9   
p>agraph 7#c7 !re(4  7d7 ,cr$it         
phase-,out  7#a7 ,9 g5]al ,if !         
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy & ! ,adm9i/rator ( !           
,environm5tal ,protection ,ag5cy1       
det]m9es t ! gre5h\se gas emissions f ! 
transportation ( p]sons & goods annually
 9 ! ,unit$ ,/ates are equal to or less 
?an #be p]c5t ( ! gre5h\se gas emissions
 f ! transportation ( p]sons & goods 9 !
 ,unit$ ,/ates dur+ cal5d> ye> #bjba1 ! 

am\nt ( ! clean fuel production cr$it "u
 ?is section %all be det]m9$ by         
sub/itut+ ! applicable am\nt 7z det]m9$ 
"u p>agraph 7#b77;,a77 = ! doll> am\nt 9
 p>agraphs 7#a77;,a77i7 & 7#b7 (        
subsection 7a74  7#b7 ,applicable doll> 
am\nt  7,a7 ,9 g5]al ,! applicable am\nt
 = any taxable ye> describ$ 9           
subp>agraph 7,b7 %all be an am\nt equal 
to ! product (--  7i7 ! doll> am\nt 9   
p>agraphs 7#a77;,a77i7 & 7#b7 (         
subsection 7a7 7z adju/$ by subsection  
7c771 multipli$ by  7ii7 ! phase-out    
p]c5tage "u subp>agraph 7,b74  7,b7     
,phase-out p]c5tage ,! phase-out        
p]c5tage "u ?is subp>agraph is equal    
to-- 7i7 = any taxable ye> beg9n+ 9 !   
fir/ cal5d> ye> foll[+ ! cal5d> ye> 9   
:i* ! det]m9ation describ$ 9 p>agraph   
7#a7 is made1 #ajj p]c5t1  7ii7 = any   
taxable ye> beg9n+ 9 ! second cal5d> ye>
 foll[+ su* det]m9ation ye>1 #ge p]c5t1 
7iii7 = any taxable ye> beg9n+ 9 ! ?ird 
cal5d> ye> foll[+ su* det]m9ation ye>1  
#ej p]c5t1 &  7iv7 = any taxable ye>    

beg9n+ 9 any cal5d> ye> subsequ5t to !  
ye> describ$ 9 clause 7iii71 #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 dioxide 7z det]m9$ bas$ on       
relative global w>m+ pot5tial74  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 ,! t]m qualifi$ facility means 
a facility--  7i7 us$ = ! production (  
transportation fuels1 &  7ii7 :i*--     
7,i7 satisfies ! requirem5ts "u         
subp>agraph 7,b71 &  7,,ii7 ) respect to
 ! con/ruction ( su* facility1 satisfies
 ! requirem5ts "u section #fja ( !      
,clean ,en]gy = ,am]ica ,act4  7,b7     
,wage requirem5ts ,! requirem5ts        
describ$ 9 ?is subp>agraph ) respect to 

any facility are t ! taxpay] %all ensure
 t any labor]s & me*anics employ$ by    
contractors & subcontractors 9-- 7i7 !  
con/ruction ( su* facility1 or  7ii7 =  
any ye> describ$ 9 subsection 7a77#a7 = 
:i* ! cr$it "u ?is section is claim$1 ! 
alt]ation or repair ( su* facility1     
%all be paid wages at rates n less ?an !
 prevail+ rates = con/ruction1          
alt]ation1 or repair ( a simil> "* 9 !  
locality z det]m9$ by ! ,secret>y (     
,labor1 9 accordance ) sub*apt] ,,iv (  
*apt] #ca ( title #dj1 ,unit$ ,/ates    
,code4  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 #bjbc1 !       
,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#cc71 by /rik+
 plus at ! end1  7,b7 9 p>agraph 7#cd71 
by /rik+ ! p]iod at ! end & ins]t+ 1    
plus1 &  7,c7 by add+ at ! end ! foll[+ 

new p>agraph3  7#ce7 ! clean fuel       
production cr$it det]m9$ "u section     
#de,v7a74  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,v4 ,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$it 7pursuant to section   
#de,v71 aft] section                    
#fdbf7;b77#d77;,a7714  7c7 ,effective   
date ,! am5dm5ts made by ?is section    
%all apply to transportation fuel       
produc$ aft] ,decemb] #ca1 #bjbb4  #bjb4
 ,transportation electrification  7a7   
,alt]native motor vehicle cr$it = fuel  
cell motor vehicles  7#a7 ,9 g5]al      
,section #cj;,b7k7 is am5d$--  7,a7 by  
/rik+ p>agraph 7#a71 &  7,b7 by         
r$esignat+ p>agraphs 7#b7 ?r\gh 7#d7 z  
p>agraphs 7#a7 ?r\gh 7#c71 respectively4
  7#b7 ,phase-out ,section #cj;,b is    
am5d$ by add+ at ! end ! foll[+3  7l7   

,cr$it phase-,out = new qualifi$ fuel   
cell motor vehicles  7#a7 ,9 g5]al      
,foll[+ a det]m9ation by ! ,secret>y1 9 
consultation ) ! ,secret>y (            
,transportation1 t total annual sales ( 
new qualifi$ fuel cell motor vehicles & 
new qualifi$ plug-9 electric drive motor
 vehicles 7z def9$ 9 section            
#cj;,d7d77#a77 9 ! ,unit$ ,/ates are    
great] ?an #ej p]c5t ( total annual     
sales ( new pass5g] vehicles 9 ! ,unit$ 
,/ates1 ! am\nt ( ! new qualifi$ fuel   
cell motor vehicle cr$it "u ?is section 
= any new qualifi$ fuel cell motor      
vehicle pur*as$ 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 7b7 )\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 vehicle pur*as$ dur+ ! fir/    
cal5d> ye> foll[+ ! cal5d> ye> 9 :i* !  
det]m9ation describ$ 9 p>agraph 7#a7 is 

made1 #ajj p]c5t1  7,b7 = a vehicle     
pur*as$ dur+ ! second cal5d> ye> foll[+ 
su* det]m9ation ye>1 #ge p]c5t1  7,c7 = 
a vehicle pur*as$ dur+ ! ?ird cal5d> ye>
 foll[+ su* det]m9ation ye>1 #ej p]c5t1 
&  7,d7 = a vehicle pur*as$ dur+ any    
cal5d> ye> subsequ5t to ! ye> describ$ 9
 subp>agraph 7,c71 #j p]c5t4  4  7#c7   
,effective date ,! am5dm5ts made by ?is 
subsection %all apply to prop]ty pur*as$
 aft] ,decemb] #ca1 #bjba4  7b7         
,alt]native fuel vehicle refuel+ prop]ty
 cr$it  7#a7 ,ext5sion & modification   
7,a7 ,9 g5]al ,section #cj;,c is am5d$--
 7i7 9 subsection 7b7--  7,i7 by /rik+ )
 respect to all qualifi$ alt]native fuel
 vehicle refuel+ prop]ty plac$ 9 s]vice 
by ! taxpay] dur+ ! taxable ye> at a    
location & ins]t+ ) respect to any s+le 
item ( qualifi$ alt]native fuel vehicle 
refuel+ prop]ty plac$ 9 s]vice by !     
taxpay] dur+ ! taxable ye>1 &  7,,ii7 9 
p>agraph 7#a71 by /rik+ #cj1jjj & ins]t+
 #bjj1jjj1  7ii7 9 subsection 7e71 by   
add+ at ! end ! foll[+3  7#g7 ,wage     

requirem5ts  7,a7 ,9 g5]al ,! t]m       
qualifi$ alt]native fuel vehicle refuel+
 prop]ty %all n include any prop]ty :i* 
fails to satisfy--  7i7 ! requirem5ts "u
 subp>agraph 7,b71 &  7ii7 ) respect to 
! con/ruction ( su* prop]ty1 !          
requirem5ts "u section #fja ( ! ,clean  
,en]gy = ,am]ica ,act4  7,b7            
,requirem5ts ,! requirem5ts describ$ 9  
?is subp>agraph ) respect to any prop]ty
 are t ! taxpay] %all ensure t any      
labor]s & me*anics employ$ by           
contractors & subcontractors 9 !        
con/ruction ( su* prop]ty are to be paid
 wages at rates n less ?an ! prevail+   
rates = con/ruction ( a simil> "* 9 !   
locality z det]m9$ by ! ,secret>y (     
,labor1 9 accordance ) sub*apt] ,,iv (  
*apt] #ca ( title #dj1 ,unit$ ,/ates    
,code4  1 &  7iii7 9 subsection 7g71 by 
/rik+ ,decemb] #ca1 #bjba & ins]t+      
,decemb] #ca1 #bjbb4  7,b7 ,effective   
date ,! am5dm5ts made by ?is p>agraph   
%all apply to prop]ty plac$ 9 s]vice    
aft] ,decemb] #ca1 #bjba4  7#b7         

,additional modification  7,a7 ,9 g5]al 
,section #cj;,c1 z am5d$ by p>agraph    
7#a71 is am5d$--  7i7 9 subsection      
7c77#b7-- 7,i7 9 subp>agraph 7,a71 by   
/rik+ "o or m & all t foll[s ?r\gh !    
p]iod & ins]t+ ! foll[+3 hydrog5 or any 
transportation fuel = :i* ! clean fuel  
production cr$it is all[$ "u section    
#de,v ) respect to ! production & sale (
 su* fuel41 &  7,,ii7 by /rik+          
subp>agraph 7,b7 & ins]t+ ! foll[+3     
7,b7 ,any mixture--  7i7 :i* consi/s (--
 7,i7 any transportation fuel--  7aa7 = 
:i* ! clean fuel production cr$it is    
all[$ "u section #de,v ) respect to !   
production & sale ( su* fuel1 &  7bb7   
:i* is a liquid fuel1 &  7,,ii7 any     
taxable fuel 7z def9$ 9 section         
#djhc7;a77#a771 &  7ii7 at lea/ #bj     
p]c5t ( ! volume ( :i* consi/s ( fuel   
describ$ 9 clause 7i77,i74  1 &  7ii7 by
 /rik+ subsection 7g7 & ins]t+ ! foll[+3
  7g7 ,cr$it phase-,out  7#a7 ,9 g5]al  
,foll[+ a det]m9ation by ! ,secret>y "u 
section #de,v7d77#a7 t ! gre5h\se gas   

emissions f ! transportation ( p]sons & 
goods annually 9 ! ,unit$ ,/ates are    
equal to or less ?an #be p]c5t ( !      
gre5h\se gas emissions f !              
transportation ( p]sons & goods 9 !     
,unit$ ,/ates dur+ cal5d> ye> #bjba1 !  
am\nt ( ! cr$it "u ?is section = any    
qualifi$ alt]native fuel vehicle refuel+
 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$it all[$ "u subsection 7a7 7z       
det]m9$ )\t reg>d to ?is subsection71   
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 = any       
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 #ajj p]c5t1  7,b7 = any prop]ty   
plac$ 9 s]vice dur+ ! second cal5d> ye> 
foll[+ su* det]m9ation ye>1 #ge p]c5t1  
7,c7 = any prop]ty plac$ 9 s]vice dur+ !
 ?ird cal5d> ye> foll[+ su* det]m9ation 

ye>1 #ej p]c5t1 &  7,d7 = any prop]ty   
plac$ 9 s]vice dur+ any cal5d> ye>      
subsequ5t to ! ye> describ$ 9           
subp>agraph 7,c71 #j p]c5t4  4  7c7     
,electric vehicles  7#a7 #b- & #c-:eel$ 
plug-9 electric vehicles  7,a7 ,9 g5]al 
,section #cj;,d7g77#c77;,e7 is am5d$ by 
/rik+ clause 7ii7 & ins]t+ ! foll[+3    
7ii7 aft] ,decemb] #ca1 #bjad4  4  7,b7 
,effective date ,! am5dm5ts made by ?is 
p>agraph %all apply to vehicles acquir$ 
aft] ,decemb] #ca1 #bjbj4  7#b7         
,elim9ation on limitation on numb] (    
vehicles eligible = cr$it  7,a7 ,9 g5]al
 ,section #cj;,d is am5d$ by /rik+      
subsection 7e74  7,b7 ,effective date ,!
 am5dm5t made by ?is p>agraph %all apply
 to vehicles sold aft] ! date ( !       
enactm5t ( ?is ,act4  7#c7 ,mak+ new    
qualifi$ plug-9 electric drive motor    
vehicle cr$it refundable = individuals  
7,a7 ,9 g5]al ,! ,int]nal ,rev5ue ,code 
( #aihf is am5d$-- 7i7 by r$esignat+    
section #cj;,d z section #cf;,c1 &  7ii7
 by mov+ section #cf;,c 7z s r$esignat$7

 f subp>t ,a ( "p ,,iv ( sub*apt] ,a (  
*apt] #a to ! location imm$iately be=e  
section #cg 9 subp>t ,c ( "p ,,iv (     
sub*apt] ,a ( *apt] #a4  7,b7 ,con=m+   
am5dm5ts  7i7 ,section #cf;,c1 z am5d$  
by p>agraph 7#b7 & z r$esignat$ & mov$  
by subp>agraph 7,a71 is am5d$--  7,i7 9 
subsection 7a71 by /rik+ ,!re %all be   
all[$ & ins]t+ ,9 ! case ( an           
individual1 !re %all be all[$1  7,,ii7  
by /rik+ subsection 7c71  7,,iii7 by    
r$esignat+ subsections 7d71 7f71 & 7g7 z
 subsections 7c71 7d71 & 7e71           
respectively1  7,,iv7 9 subsection 7d71 
z s r$esignat$--  7aa7 by /rik+ 7det]m9$
 )\t reg>d to subsection 7c77 ea* place 
x appe>s1 &  7bb7 by /rik+ p>agraph     
7#c71 &  7,v7 9 subsection 7e77#c77;,b71
 z s r$esignat$1 by /rik+ subsection    
7d77#a7 & ins]t+ subsection 7c77#a74    
7ii7 ,subsection 7l77#a7 ( section      
#cj;,b1 z add$ by subsection 7a77#b71 is
 am5d$ by /rik+ section #cj;,d7d77#a7 & 
ins]t+ section #cf;,c7c77#a74  7iii7    
,p>agraph 7#cg7 ( section #ajaf7;a7 is  

am5d$ by /rik+ section #cj;,d7f77#a7 &  
ins]t+ section #cf;,c7d77#a74  7iv7     
,section #feja7m7 is am5d$ by /rik+     
#cj;,d7e77#d7 & ins]t+ #cf;,c7d77#f74   
7v7 ,section #aff7;b77#e77;,a77ii7 (    
title #bc1 ,unit$ ,/ates ,code1 is am5d$
 by /rik+ section #cj;,d7d77#a7 & ins]t+
 section #cf;,c7c77#a74  7vi7 ,! table (
 sections = subp>t ,c ( "p ,,iv (       
sub*apt] ,a ( *apt] #a is am5d$ by      
ins]t+ aft] ! item relat+ to section    
#cf;,b ! foll[+ new item3  ,sec4 #cf;,c4
 ,new qualifi$ plug-9 electric drive    
motor vehicles4  4  7,c7 ,effective date
 ,! am5dm5ts made by ?is p>agraph %all  
apply to vehicles acquir$ aft] ,decemb] 
#ca1 #bjba4  7#d7 ,,v9 requirem5t  7,a7 
,9 g5]al ,section #cf;,c7c77#a71 z      
r$esignat$ & mov$ by p>agraph 7#c71 is  
am5d$--  7i7 9 subp>agraph 7,e71 by     
/rik+ & at ! end1  7ii7 9 subp>agraph   
7,f77ii71 by /rik+ ! p]iod at ! end &   
ins]t+ 1 &1 &  7iii7 by add+ at ! end ! 
foll[+3  7,g7 = :i* ! taxpay] has       
provid$ ! vehicle id5tification numb] on

 ! return ( tax = ! taxable ye>4  4     
7,b7 ,ma!matical or cl]ical error       
,section #fbac7;g77#b7 is am5d$-- 7i7 9 
subp>agraph 7,p71 by /rik+ & at ! end1  
7ii7 9 subp>agraph 7,q71 by /rik+ !     
p]iod at ! end & ins]t+ 1 &1 &  7iii7 by
 add+ at ! end ! foll[+3  7,r7 an       
omission ( a correct vehicle            
id5tification numb] requir$ "u section  
#cf;,c7c77#a77;,g7 7relat+ to cr$it =   
new qualifi$ plug-9 electric drive motor
 vehicles7 to be includ$ on a return4  4
  7,c7 ,effective date ,! am5dm5ts made 
by ?is p>agraph %all apply to vehicles  
acquir$ aft] ,decemb] #ca1 #bjba4  7#e7 
,phase-out ,section #cf;,c1 z           
r$esignat$1 mov$1 & am5d$ by ! prec$+   
p>agraphs ( ?is subsection1 is am5d$ by 
add+ at ! end ! foll[+3  7f7 ,cr$it     
phase-,out  7#a7 ,9 g5]al ,foll[+ a     
det]m9ation by ! ,secret>y1 9           
consultation ) ! ,secret>y (            
,transportation1 t total annual sales ( 
new qualifi$ fuel cell motor vehicles 7z
 def9$ 9 section #cj;,b7b77#c77 & new   

qualifi$ plug-9 electric drive motor    
vehicles 9 ! ,unit$ ,/ates are great]   
?an #ej p]c5t ( total annual sales ( new
 pass5g] vehicles 9 ! ,unit$ ,/ates1 !  
am\nt ( ! cr$it all[$ "u ?is section =  
any new qualifi$ plug-9 electric drive  
motor vehicle sold or qualifi$ #b- or   
#c-:eel$ plug-9 electric vehicle acquir$
 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 vehicle sold or acquir$ dur+ ! 
fir/ cal5d> ye> foll[+ ! cal5d> ye> 9   
:i* ! det]m9ation describ$ 9 p>agraph   
7#a7 is made1 #ajj p]c5t1  7,b7 = a     
vehicle sold or acquir$ dur+ ! second   
cal5d> ye> foll[+ su* det]m9ation ye>1  
#ge p]c5t1  7,c7 = a vehicle sold or    
acquir$ dur+ ! ?ird cal5d> ye> foll[+   
su* det]m9ation ye>1 #ej p]c5t1 &  7,d7 

= a vehicle sold or acquir$ dur+ any    
cal5d> ye> subsequ5t to ! ye> describ$ 9
 subp>agraph 7,c71 #j p]c5t4  4  7#f7   
,qualifi$ comm]cial electric vehicles   
7,a7 ,9 g5]al ,subp>t ,d ( "p ,,iv (    
sub*apt] ,a ( *apt] #a1 z am5d$ by      
sections #aja & #bja1 is am5d$ by add+  
at ! end ! foll[+ new section3  #de,w4  
,cr$it = qualifi$ comm]cial electric    
vehicles  7a7 ,9 g5]al ,= purposes (    
section #ch1 ! qualifi$ comm]cial       
electric vehicle cr$it = any taxable ye>
 is an am\nt equal to ! sum ( ! cr$it   
am\nts det]m9$ "u subsection 7b7 )      
respect to ea* qualifi$ comm]cial       
electric vehicle plac$ 9 s]vice by !    
taxpay] dur+ ! taxable ye>4  7b7 ,p]    
vehicle am\nt  7#a7 ,9 g5]al ,! am\nt   
det]m9$ "u ?is subsection ) respect to  
any qualifi$ comm]cial electric vehicle 
%all be equal ! less] (--  7,a7 #cj     
p]c5t ( ! basis ( su* vehicle1 or  7,b7 
! increm5tal co/ ( su* vehicle4  7#b7   
,increm5tal co/  7,a7 ,9 g5]al ,=       
purposes ( p>agraph 7#a77;,b71 !        

increm5tal co/ ( any qualifi$ comm]cial 
electric vehicle is an am\nt equal to ! 
excess ( ! manufactur]'s sugge/$ retail 
price = su* vehicle ov] su* price = a   
comp>able vehicle4  7,b7 ,comp>able     
vehicle ,= purposes ( ?is p>agraph1 !   
t]m comp>able vehicle means1 ) respect  
to any qualifi$ comm]cial electric      
vehicle1 any vehicle :i* is p[]$ solely 
by a gasol9e or diesel int]nal combu/ion
 eng9e & :i* is comp>able 9 weight1     
size1 & use to su* vehicle4  7c7        
,qualifi$ comm]cial electric vehicle ,= 
purposes ( ?is section1 ! t]m qualifi$  
comm]cial electric vehicle means any    
vehicle :i*-- 7#a7 meets ! requirem5ts (
 subp>agraphs 7,a71 7,b71 7,c71 7,d71 & 
7,g7 ( section #cf;,c7c77#a71  7#b7 is  
prim>ily propell$ by an electric motor  
:i* draws electricity f a batt]y :i*--  
7,a7 has a capacity ( n less ?an #aj    
kil[att h\rs1 &  7,b7 is capable ( be+  
re*>g$ f an ext]nal s\rce ( electricity1
 &  7#c7 is ( a "* subject to ! all[ance
 = depreciation4  7d7 ,special rules    

7#a7 ,9 g5]al ,rules simil> to ! rules  
"u subsections 7d7 ( section #cf;,c %all
 apply = purposes ( ?is section4  7#b7  
,prop]ty us$ by tax-exempt entity ,9 !  
case ( a vehicle ! use ( :i* is describ$
 9 p>agraph 7#c7 or 7#d7 ( section      
#ej7;b7 & :i* is n subject to a lease1 !
 p]son :o sold su* vehicle to ! p]son or
 entity us+ su* vehicle %all be treat$ z
 ! taxpay] t plac$ su* vehicle 9 s]vice1
 b only if su* p]son cle>ly discloses to
 su* p]son or entity 9 a docum5t ! am\nt
 ( any cr$it all[able "u subsection 7a7 
) respect to su* vehicle4  7e7 ,cr$it   
phase-,out  7#a7 ,9 g5]al ,foll[+ a     
det]m9ation by ! ,secret>y1 9           
consultation ) ! ,secret>y (            
,transportation1 t total annual sales ( 
qualifi$ comm]cial electric vehicles 9 !
 ,unit$ ,/ates are great] ?an #ej p]c5t 
( total annual sales ( new comm]cial    
vehicles 9 ! ,unit$ ,/ates1 ! am\nt ( ! 
cr$it all[$ "u ?is section = any        
qualifi$ comm]cial electric vehicle     
acquir$ 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 vehicle acquir$ dur+ ! fir/    
cal5d> ye> foll[+ ! cal5d> ye> 9 :i* !  
det]m9ation describ$ 9 p>agraph 7#a7 is 
made1 #ajj p]c5t1  7,b7 = a vehicle     
acquir$ dur+ ! second cal5d> ye> foll[+ 
su* det]m9ation ye>1 #ge p]c5t1  7,c7 = 
a vehicle acquir$ dur+ ! ?ird cal5d> ye>
 foll[+ su* det]m9ation ye>1 #ej p]c5t1 
&  7,d7 = a vehicle acquir$ dur+ any    
cal5d> ye> subsequ5t to ! ye> describ$ 9
 subp>agraph 7,c71 #j p]c5t4  4  7,b7   
,con=m+ am5dm5ts  7i7 ,section #ch7;b7  
is am5d$ by /rik+ p>agraph 7#cj7 &      
ins]t+ ! foll[+3  7#cj7 ! qualifi$      
comm]cial electric vehicle cr$it det]m9$
 "u section #de,w1  4  7ii7 ,! table (  
sections = subp>t ,d ( "p ,,iv (        
sub*apt] ,a ( *apt] #a1 z am5d$ by      

sections #aja & #ajb1 is am5d$ by add+  
at ! end ! foll[+ new item3  ,sec4      
#de,w4 ,cr$it = qualifi$ comm]cial      
electric vehicles4  4  7,c7 ,effective  
date ,! am5dm5ts made by ?is p>agraph   
%all apply to vehicles acquir$ aft]     
,decemb] #ca1 #bjba4  #bjc4 ,tempor>y   
ext5sions ( exi/+ fuel inc5tives  7a7   
,second g5]ation bi(uel produc] cr$it   
7#a7 ,9 g5]al ,section                  
#dj7;b77#f77;,j77i7 is am5d$ by /rik+   
#bjbb & ins]t+ #bjbc4  7#b7 ,effective  
date ,! am5dm5ts made by ?is subsection 
%all apply to qualifi$ second g5]ation  
bi(uel production aft] ,decemb] #ca1    
#bjba4  7b7 ,cr$it = alt]native fuel    
mixtures  7#a7 ,9 g5]al ,section #fdbf  
is am5d$-- 7,a7 9 subsection 7d7--  7i7 
9 p>agraph 7#b77;,d71 by /rik+ liquefi$1
 &  7ii7 9 p>agraph 7#e71 by /rik+ #bjba
 & ins]t+ #bjbb1 &  7,b7 9 subsection   
7e7-- 7i7 9 p>agraph 7#b71 by ins]t+    
nonliquid hydrog5 or be=e a fuel        
describ$1 &  7ii7 9 p>agraph 7#c71 by   
/rik+ #bjba & ins]t+ #bjbb4  7#b7       

,effective date ,! am5dm5ts made by ?is 
subsection %all apply to fuel sold or   
us$ aft] ,decemb] #ca1 #bjba4  7c7      
,biodiesel1 biodiesel mixtures1 &       
alt]native fuels  7#a7 ,9 g5]al ,section
 #fdbg7;e77#f77;,c7 is am5d$ by /rik+   
#bjba & ins]t+ #bjbb4  7#b7 ,effective  
date ,! am5dm5ts made by ?is subsection 
%all apply to fuel sold or us$ aft]     
,decemb] #ca1 #bjba4  ,,iii ,inc5tives =
 ,en]gy ,effici5cy  #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-- 7,a7 9
 ! case ( a qualifi$ resid5ce describ$ 9
 subclause 7,i7 ( subsection            
7c77#c77;,a77iii71 #b1ejj1 &  7,b7 9 !  
case ( a qualifi$ resid5ce describ$ 9   
subclause 7,,ii7 ( su* subsection1      
#e1jjj4  7#b7 ,adju/m5t = inflation     
7,a7 ,9 g5]al ,9 ! case ( a taxable ye> 
beg9n+ aft] #bjbb1 ! doll> am\nts 9     
p>agraph 7#a7 %all ea* be increas$ by an
 am\nt equal to--  7i7 su* doll> am\nt1 
multipli$ by  7ii7 ! co/-(-liv+ adju/m5t
 det]m9$ "u section #a7;f77#c7 = !      
cal5d> ye>1 det]m9$ by sub/itut+ cal5d> 
ye> #bjba = cal5d> ye> #bjaf 9          
subp>agraph 7,a77ii7 !re(4  7,b7 ,r\nd+ 
,if any am\nt z increas$ "u subp>agraph 
7,a7 is n a multiple ( #ajj1 su* am\nt  
%all be r\nd$ to ! ne>e/ multiple (     
#ajj4  7c7 ,def9itions ,= purposes ( ?is
 section3  7#a7 ,con/ruction ,! t]m     
con/ruction does n include sub/antial   
recon/ruction or rehabilitation4  7#b7  
,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#c7 ,qualifi$ 
resid5ce  7,a7 ,9 g5]al ,! t]m qualifi$ 
resid5ce means a dwell+ unit-- 7i7      
locat$ 9 ! ,unit$ ,/ates1  7ii7 !       
con/ruction ( :i* is sub/antially       
complet$ aft] ! date ( ! enactm5t ( ?is 
section1  7iii7 :i* is c]tifi$ z        
satisfy+ ! requirem5ts = new resid5tial 
con/ruction "u--  7,i7 ! ,en]gy ,/>     
program 7or any successor program1 z    
det]m9$ by ! ,secret>y71 z 9 effect on  
,janu>y #a ( ! ye> 9 :i* con/ruction ( !
 dwell+ unit beg9s1 or  7,,ii7 ! ,z]o   
,en]gy ,ready ,home program 7or any     
successor program1 z det]m9$ by !       
,secret>y71 z 9 effect on ,janu>y #a ( !
 ye> 9 :i* con/ruction ( ! dwell+ unit  
beg9s1 &  7iv7 :i* satisfies !          
requirem5ts "u subp>agraph 7,b74  7,b7  
,wage requirem5ts ,! requirem5ts        
describ$ 9 ?is subp>agraph ) respect to 
any dwell+ unit are t ! eligible        

contractor %all ensure t any labor]s &  
me*anics employ$ by su* contractor &    
subcontractors 9 ! con/ruction ( su*    
dwell+ unit %all be paid wages at rates 
n less ?an ! prevail+ rates =           
con/ruction ( a simil> "* 9 ! locality z
 det]m9$ by ! ,secret>y ( ,labor1 9     
accordance ) sub*apt] ,,iv ( *apt] #ca (
 title #dj1 ,unit$ ,/ates ,code4  7d7   
,c]tification ,a c]tification describ$ 9
 ?is section %all be made-- 7#a7 by a   
?ird p>ty :i* is accr$it$ by a          
c]tification program approv$ by !       
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy1 &  7#b7 9 accordance )-- 7,a7 
any applicable rules "u ! ,en]gy ,/> or 
,z]o ,en]gy ,ready ,home programs1 z 9  
effect on ! date on :i* con/ruction ( ! 
dwell+ unit beg9s1 &  7,b7 guidance     
prescrib$ by ! ,secret>y1 9 consultation
 ) ! ,secret>y ( ,en]gy4  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 #bjba4  #cjb4 ,en]gy      
effici5t home improvem5t cr$it  7a7 ,9  
g5]al ,section #be;,c is am5d$ to read z
 foll[s3  #be;,c4 ,en]gy effici5t home  
improvem5t 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  7#a7

 ,9 g5]al ,= any qualifi$ prop]ty1 !    
applicable qualifi$ prop]ty am\nt %all  
be equal to ! less] (-- 7,a7 #cj p]c5t (
 ! am\nt paid or incurr$ by ! individual
 = su* qualifi$ prop]ty 7includ+ any    
exp5ditures = labor co/s prop]ly        
allocable to ! onsite prep>ation1       
assembly1 or orig9al in/allation ( su*  
prop]ty71 or  7,b7 #fjj4  7#b7 ,adju/m5t
 = inflation  7,a7 ,9 g5]al ,9 ! case ( 
a taxable ye> beg9n+ aft] #bjbb1 ! doll>
 am\nt 9 p>agraph 7#a77;,b7 %all be     
increas$ by an am\nt equal to--  7i7 su*
 doll> am\nt1 multipli$ by  7ii7 !      
co/-(-liv+ adju/m5t det]m9$ "u section  
#a7;f77#c7 = ! cal5d> ye>1 det]m9$ by   
sub/itut+ cal5d> ye> #bjba = cal5d> ye> 
#bjaf 9 subp>agraph 7,a77ii7 !re(4  7,b7
 ,r\nd+ ,if any am\nt z increas$ "u     
subp>agraph 7,a7 is n a multiple ( #aj1 
su* am\nt %all be r\nd$ to ! ne>e/      
multiple ( #aj4  7c7 ,qualifi$ prop]ty  
7#a7 ,9 g5]al ,! t]m qualifi$ prop]ty   
means a furnace1 boil]1 cond5s+ wat]    
heat]1 c5tral air condition+ unit1 heat 

pump1 biomass prop]ty1 or build+        
envelope improvem5t :i*--  7,a7 except 9
 ! case ( a build+ envelope improvem5t1 
meets or exce$s ! requirem5ts ( ! highe/
 effici5cy ti] 7n includ+ any advanc$   
ti]7 e/abli%$ by ! ,consortium = ,en]gy 
,effici5cy :i* are 9 effect at ! "t t ! 
prop]ty is plac$ 9 s]vice1  7,b7 is     
in/all$ accord+ to applicable ,air      
,condition+ ,contractors ( ,am]ica      
,quality ,in/allation /&>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   
7#b7 ,special rules = c]ta9 heat pumps  
7,a7 ,air-s\rce heat pumps ,9 ! case (  
any air-s\rce heat pump :i* satisfies ! 
requirem5ts "u p>agraph 7#a71 subsection
 7b77#a77;,b7 %all be appli$ by         
sub/itut+ #hjj = #fjj4  7,b7 ,gr\nd     
s\rce heat pump  7i7 ,9 g5]al ,9 ! case 
( any qualifi$ geo!rmal heat pump       

prop]ty :i* satisfies ! requirem5ts "u  
subp>agraphs 7,b7 ?r\gh 7,d7 ( p>agraph 
7#a7--  7,i7 subsection 7b77#a77;,b7    
%all be appli$ by sub/itut+ #aj1jjj =   
#fjj1 &  7,,ii7 subsection 7a77#b7 %all 
n apply4  7ii7 ,qualifi$ geo!rmal heat  
pump prop]ty ,= purposes ( ?is          
subp>agraph1 ! t]m qualifi$ geo!rmal    
heat pump prop]ty means any equipm5t    
:i*-- 7,i7 uses ! gr\nd or gr\nd wat] z 
a !rmal en]gy s\rce to heat a dwell+    
unit locat$ 9 ! ,unit$ ,/ates & us$ z a 
resid5ce by ! taxpay] or z a !rmal en]gy
 s9k to cool su* dwell+ unit1 &  7,,ii7 
meets ! requirem5ts ( ! ,en]gy ,/>      
program :i* are 9 effect at ! "t t !    
exp5diture = su* equipm5t is made4  7#c7
 ,special rule = insulation ,9 ! case ( 
any build+ envelope improvem5t describ$ 
9 subsection 7d77#b77;,a7 :i* satisfies 
! requirem5ts "u p>agraph 7#a71         
subsection 7b77#a77;,b7 %all n apply4   
7d7 ,o!r def9itions  7#a7 ,biomass      
prop]ty  7,a7 ,9 g5]al ,= purposes ( ?is
 section1 ! t]m biomass prop]ty means   

any prop]ty :i*-- 7i7 uses ! burn+ (    
biomass fuel to heat a dwell+ unit or to
 heat wat] = use 9 a dwell+ unit1 &     
7ii7 us+ ! high] heat+ value1 has a     
!rmal effici5cy ( n less ?an #ge p]c5t4 
7,b7 ,biomass fuel ,= purposes (        
subp>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  7#b7 ,build+ envelope  
improvem5t ,= purposes ( ?is section1 ! 
t]m build+ envelope improvem5t means--  
7,a7 any insulation mat]ial or sy/em    
:i*--  7i7 is specifically & prim>ily   
design$ to r$uce ! heat loss or ga9 ( a 
dwell+ unit :5 in/all$ 9 or on su*      
dwell+ unit1 &  7ii7 meets !            
prescriptive crit]ia = su* mat]ial or   
sy/em e/abli%$ by ! ,int]national ,en]gy
 ,cons]vation ,code1 z su* ,code        
7includ+ supplem5ts7 is 9 effect on     
,janu>y #a ( ! cal5d> ye> 9 :i* su*     
mat]ial or sy/em is in/all$1 &  7,b7    

ext]ior doors & w9d[s 7includ+          
skylights7 :i* receiv$ ! mo/ effici5t   
c]tification "u applicable ,en]gy ,/>   
program requirem5ts :i* are 9 effect on 
,janu>y #a ( ! cal5d> ye> 9 :i* !       
prop]ty is plac$ 9 s]vice4  7#c7        
,manufactur$ homes includ$ ,= purposes (
 ?is section1 ! t]m dwell+ unit includes
 a manufactur$ home :i* con=ms to ,f$]al
 ,manufactur$ ,home ,con/ruction &      
,safety ,/&>ds 7"p #cbhj ( title #bd1   
,code ( ,f$]al ,regulations74  7e7      
,d5ial ( d\ble b5efit ,no cr$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     
/rik+ ! item relat+ to section #be;,c & 
ins]t+ aft] ! item relat+ to section    
#be;,b ! foll[+ item3  #be;,c4 ,en]gy   
effici5t home improvem5t cr$it4  4  7c7 
,effective date ,! am5dm5ts made by ?is 
section %all apply to qualifi$ prop]ty  

plac$ 9 s]vice aft] ,decemb] #ca1 #bjba4
  #cjc4 ,enhancem5t ( en]gy effici5t    
comm]cial build+s d$uction  7a7 ,9 g5]al
 ,section #agi;,d is am5d$--  7#a7 by   
/rik+ subsection 7b7 & ins]t+ ! foll[+3 
7b7 ,maximum am\nt ( d$uction  7#a7 ,9  
g5]al ,! d$uction "u subsection 7a7 )   
respect to any build+ = any taxable ye> 
%all n exce$ ! excess 7if any7 (--  7,a7
 ! product (-- 7i7 ! applicable doll>   
value1 &  7ii7 ! squ>e footage ( !      
build+1 ov]  7,b7 ! aggregate am\nt ( ! 
d$uctions "u subsection 7a7 ) respect to
 ! build+ = all prior taxable ye>s4     
7#b7 ,applicable doll> value ,= purposes
 ( p>agraph 7#a77;,a77i71 ! applicable  
doll> value %all be an am\nt equal to   
#b4ej increas$ 7b n above #e4jj7 by     
#j4aj = ea* p]c5tage po9t by :i* ! total
 annual en]gy & p[] co/s = ! build+ are 
c]tifi$ to be r$uc$ by a p]c5tage great]
 ?an #be p]c5t4  1  7#b7 9 subsection   
7c77#a7--  7,a7 9 subp>agraph 7,c77iii71
 by /rik+ & at ! end1  7,b7 9           
subp>agraph 7,d7--  7i7 by /rik+ #ej    

p]c5t & ins]t+ #be p]c5t1 &  7ii7 by    
/rik+ ! p]iod at ! end & ins]t+ 1 &1 &  
7,c7 by add+ at ! end ! foll[+3  7,e7   
:i* satisfies ! requirem5ts--  7i7 "u   
subsection 7d77#g71 &  7ii7 ) respect to
 ! con/ruction ( su* prop]ty1 !         
requirem5ts "u section #fja ( ! ,clean  
,en]gy = ,am]ica ,act4  1  7#c7 9       
subsection 7d7-- 7,a7 by /rik+ p>agraph 
7#a71  7,b7 by /rik+ p>agraph 7#d7 &    
ins]t+ ! foll[+3  7#d7 ,allocation (    
d$uction  7,a7 ,9 g5]al ,9 ! case (     
en]gy effici5t comm]cial build+ prop]ty 
in/all$ on or 9 prop]ty 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 p>agraph1 ! t]m
 eligible entity means-- 7i7 a ,f$]al1  
,/ate1 or local gov]nm5t or a political 
subdivision !re(1  7ii7 an ,indian tribe

 7z def9$ 9 section #de;,a7c77#f771 or  
7iii7 an organization describ$ 9 section
 #eja7;c7 & exempt f tax "u section     
#eja7;a74  1 &  7,c7 by add+ at ! end ! 
foll[+3  7#g7 ,wage requirem5ts ,!      
requirem5ts describ$ 9 ?is p>agraph )   
respect to any prop]ty are t ! taxpay]  
%all ensure t any labor]s & me*anics    
employ$ by contractors & subcontractors 
9 ! con/ruction ( su* prop]ty %all be   
paid wages at rates n less ?an !        
prevail+ rates = con/ruction ( a simil> 
"* 9 ! locality z det]m9$ by ! ,secret>y
 ( ,labor1 9 accordance ) sub*apt] ,,iv 
( *apt] #ca ( title #dj1 ,unit$ ,/ates  
,code4  1  7#d7 by /rik+ subsection 7f71
 &  7#e7 9 subsection 7g7--  7,a7 by    
/rik+ #bjbj1 ea* doll> am\nt 9          
subsection 7b7 or subsection            
7d77#a77;,a7 & ins]t+ #bjbb1 ea* doll>  
am\nt 9 subsection 7b77#b71  7,b7 9     
p>agraph 7#b71 by /rik+ #bjai & ins]t+  
#bjba1 &  7,c7 9 ! flu% matt] at ! end1 
by /rik+ a multiple ( #a c5t %all be    
r\nd$ to ! ne>e/ c5t & ins]t+ a multiple

 ( #aj c5ts %all be r\nd$ to ! ne>e/    
multiple ( #aj c5ts4  7b7 ,con=m+       
am5dm5ts ,section #agi;,d1 z am5d$ by   
subsection 7a71 is am5d$--  7#a7 9      
subsection 7c77#a77;,d7-- 7,a7 by /rik+ 
subsection 7d77#f7 & ins]t+ subsection  
7d77#e71 &  7,b7 by /rik+ subsection    
7d77#b7 & ins]t+ subsection 7d77#a71    
7#b7 9 subsection 7d7--  7,a7 by        
r$esignat+ p>agraphs 7#b7 ?r\gh 7#f7 z  
p>agraphs 7#a7 ?r\gh 7#e71 respectively1
  7,b7 9 p>agraph 7#b71 z s r$esignat$1 
by /rik+ p>agraph 7#b7 & ins]t+ p>agraph
 7#a71 &  7,c7 9 p>agraph 7#d71 z s     
r$esignat$1 by /rik+ p>agraph           
7#c77;,b77iii7 & ins]t+ p>agraph        
7#b77;,b77iii71  7#c7 by r$esignat+     
subsections 7g7 & 7h7 z subsections 7f7 
& 7g71 respectively1 &  7#d7 9          
subsection 7g77#b71 z s r$esignat$1 by  
/rik+ or 7d77#a77;,a74  7c7 ,effective  
date ,! am5dm5ts made by ?is section    
%all apply to any prop]ty plac$ 9 s]vice
 aft] ,decemb] #ca1 #bjba4  #cjd4       
,enhancem5t ( en]gy cr$it = geo!rmal    

heat pumps  7a7 ,9 g5]al ,section       
#dh7;a7 is am5d$-- 7#a7 9 p>agraph      
7#b77;,a77i77,,iii71 by /rik+ p>agraph  
7#c77;,a77ii7 & ins]t+ clause 7ii7 or   
7vii7 ( p>agraph 7#c77;,a71 &  7#b7 9   
p>agraph 7#c77;,a77vii71 by /rik+ b only
 ) respect to prop]ty ! con/ruction (   
:i* beg9s be=e ,janu>y #a1 #bjbd14  7b7 
,effective date ,! am5dm5ts made by ?is 
section %all apply to prop]ty !         
con/ruction ( :i* beg9s aft] ,decemb]   
#ca1 #bjba4  ,,iv ,clean electricity &  
fuel bonds  #dja4 ,clean en]gy bonds    
7a7 ,9 g5]al ,"p ,,iv ( sub*apt] ,a (   
*apt] #a is am5d$ by ins]t+ aft] subp>t 
,g ! foll[+ new subp>t3  ,h ,clean en]gy
 bonds  ,sec4 #ed4 ,clean en]gy bonds4  
#ed4 ,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 ,9 ! case ( a
 qualifi$ facility describ$ 9 subsection
 7e77#d7 ( section #de,v1 ! 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 !     
anticipat$ av]age emissions rate = all  
transportation fuel produc$ by su*      
facility be>s to ! basel9e emissions    
rate 7z det]m9$ "u subsection           
7b77#a77;,b7 ( 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 ,publi%$ emissions rules ,rules    
simil> to ! rules ( section #de,v7b7    
%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$s ( su* issue ov] !      
am\nts 9 a reasonably requir$ 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 =-- 7i7 #a 
or m qualifi$ facilities1 or  7ii7 grid 
improvem5t prop]ty 7z def9$ 9 section   
#dh;,d7c77#a77;,b771  7,b7 ! bond is    
issu$ by--  7i7 a gov]nm5tal body1  7ii7
 a public p[] provid]1 or  7iii7 a      
coop]ative electric company1 &  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
 #fdca1  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  7e7      
,def9itions ,9 ?is section3 7#a7        
,available project proce$s ,! t]m       
available project proce$s means--  7,a7 
! excess (-- 7i7 ! proce$s f ! sale ( an
 issue1 ov]  7ii7 ! issuance co/s f9anc$
 by ! issue 7to ! ext5t t su* co/s d n  
exce$ #b p]c5t ( su* proce$s71 &  7,b7 !
 proce$s f any inve/m5t ( ! excess      
describ$ 9 subp>agraph 7,a74  7#b7      
,coop]ative electric company ,! t]m     
coop]ative electric company means a     
mutual or coop]ative electric company   
describ$ 9 section #eja7;c77#ab7 or     
section #acha7;a77#b77;,c74  7#c7       
,gov]nm5tal body ,! t]m gov]nm5tal body 
means any ,/ate or ,indian tribal       
gov]nm5t1 or any political subdivision  
!re(4  7#d7 ,int]e/ paym5t date ,! 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  7#e7 ,public p[] provid] ,! t]m  

public p[] provid] means a ,/ate utility
 ) a s]vice obligation1 z su* t]ms are  
def9$ 9 section #bag ( ! ,f$]al ,p[]    
,act 7z 9 effect on ! date ( ! enactm5t 
( ?is p>agraph74  7#f7 ,qualifi$        
facility ,! t]m qualifi$ facility means 
a facility :i*-- 7,a7 is describ$ 9     
section #de,u7b77#a77;,a7 & satisfies ! 
requirem5ts "u clause 7iv7 ( su*        
section1 or  7,b7  7i7 is describ$ 9    
subsection 7e77#d7 ( section #de,v &    
satisfies ! requirem5ts "u subp>agraph  
7,b7 ( su* subsection1 &  7ii7 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 ( section 
#de,v74  7f7 ,cr$it phase-,out  7#a7    
,electrical production & en]gy /orage   
prop]ty ,9 ! case ( a clean en]gy bond =
 :i* ! proce$s are us$ = capital        
exp5ditures incurr$ by an entity = a    
qualifi$ facility describ$ 9 subsection 
7e77#f77;,a7 or any prop]ty describ$ 9  
subsection 7d77#a77;,a77ii71 if !       

,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy & ! ,adm9i/rator ( !           
,environm5tal ,protection ,ag5cy1       
det]m9es t ! annual gre5h\se gas        
emissions f ! production ( electricity 9
 ! ,unit$ ,/ates are equal to or less   
?an ! p]c5tage specifi$ 9 section       
#de,u7d77#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 7e77#f77;,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 ( p]sons & goods annually

 9 ! ,unit$ ,/ates are equal to or less 
?an ! p]c5tage specifi$ 9 section       
#de,v7d77#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#a7 or 
7#b7 is made1 #ajj p]c5t1  7,b7 = any   
bond issu$ dur+ ! second cal5d> ye>     
foll[+ su* det]m9ation ye>1 #ge p]c5t1  
7,c7 = any bond issu$ dur+ ! ?ird cal5d>
 ye> foll[+ su* det]m9ation ye>1 #ej    
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$]al income tax purposes ,= purposes (
 ?is title1 int]e/ on any clean en]gy   
bond %all be includible 9 gross income4 
7#b7 ,s corporations & p>tn]%ips ,9 !   
case ( a clean en]gy bond held by an ,s 
corporation or p>tn]%ip1 ! allocation ( 
! cr$it all[$ by ?is section to !       
%>ehold]s ( su* corporation or p>tn]s ( 
su* p>tn]%ip %all be treat$ z a         
di/ribution4  7#c7 ,bonds held by real  
e/ate inve/m5t tru/s ,if any clean en]gy
 bond is held by a real e/ate inve/m5t  
tru/1 ! cr$it det]m9$ "u subsection 7a7 
%all be all[$ to b5efici>ies ( su* tru/ 
7& any gross income includ$ "u p>agraph 
7#a7 ) respect to su* cr$it %all be     
di/ribut$ to su* b5efici>ies7 "u        
proc$ures prescrib$ by ! ,secret>y4     
7#d7 ,cr$its may be /ripp$ ,"u          
regulations prescrib$ by ! ,secret>y--  
7,a7 ,9 g5]al ,!re may be a sep>ation   
7includ+ at issuance7 ( ! own]%ip ( a   
clean en]gy bond & ! entitlem5t to !    
cr$it "u ?is section ) respect to su*   
bond4 ,9 case ( any su* sep>ation1 !    

cr$it "u ?is section %all be all[$ to ! 
p]son :o on ! cr$it all[ance date holds 
! in/rum5t evid5c+ ! entitlem5t to !    
cr$it & n to ! hold] ( ! bond4  7,b7    
,c]ta9 rules to apply ,9 ! case ( a     
sep>ation describ$ 9 subp>agraph 7,a71 !
 rules ( section #abhf %all apply to !  
clean en]gy bond z if x 7 a /ripp$ bond 
& to ! cr$it "u ?is section z if x 7 a  
/ripp$ c\pon4  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 #fdca4  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  #fdca4 ,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       
section #ed7;b77 ( ! 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 #ed7;d77 issu$ z "p ( an issue
 if ! issu]1 9 lieu ( any cr$it all[$ "u
 section #ed7;a7 ) respect to su* bond1 
makes an irrevocable election to h ?is  
section apply4  4  7c7 ,con=m+ am5dm5ts 
7#a7 ,! table ( subp>ts = "p ,,iv (     
sub*apt] ,a ( *apt] #a is am5d$ by      

ins]t+ aft] ! item relat+ to subp>t ,g !
 foll[+3 ,subp>t ,h--,clean ,en]gy      
,bonds4  7#b7 ,! table ( sections =     
sub*apt] ,b ( *apt] #fe ( subtitle ,f is
 am5d$ by add+ at ! end ! foll[+ new    
item3  ,sec4 #fdca4 ,cr$it = qualifi$   
clean en]gy bonds all[$ to issu]4  4    
7#c7 ,subp>agraph 7,a7 ( section        
#fbaa7;b77#d7 is am5d$ by /rik+ &       
#fdbh;,a & ins]t+ #fdbh;,a1 & #fdca4    
7d7 ,gross-,up ( paym5t to issu]s 9 case
 ( seque/ration  7#a7 ,9 g5]al ,9 ! case
 ( any paym5t "u subsection 7b7 (       
section #fdca ( ! ,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] ,decemb] #ca1 #bjbb4  ,v ,t]m9ation
 ( c]ta9 fossil fuel provisions  #eja   
,t]m9ation ( provisions relat+ to oil1  
gas1 & o!r mat]ials  7a7 ,amortization (
 geological & geophysical exp5ditures   
,section #afg7;h7 is am5d$ by add+ at ! 
end ! foll[+ new p>agraph3  7#f7        
,t]m9ation ,?is subsection %all n apply 
to any exp5ses paid or incurr$ dur+ any 
taxable ye> beg9n+ aft] ! date ( !      
enactm5t ( ! ,clean ,en]gy = ,am]ica    
,act4  4  7b7 ,alaska natural gas       
pipel9es ,subp>agraph 7,b7 ( section    
#afh7;i77#af7 is am5d$ to read z foll[s3
  7,b7 is--  7i7  7,i7 plac$ 9 s]vice   
aft] ,decemb] #ca1 #bjac1 or  7,,ii7    
treat$ z plac$ 9 s]vice on ,janu>y #a1  
#bjad1 if ! taxpay] :o places su* sy/em 

9 s]vice be=e ,janu>y #a1 #bjad1 elects 
su* treatm5t1 &  7ii7 plac$ 9 s]vice    
be=e ! end ( ! cal5d> ye> 9 :i* ! ,clean
 ,en]gy = ,am]ica ,act is enact$4  4    
7c7 ,natural gas ga!r+ l9e ,p>agraph    
7#ag7 ( section #afh7;i7 is am5d$--     
7#a7 9 subp>agraph 7,a71 by ins]t+ :i*  
are plac$ 9 s]vice be=e ! end ( ! cal5d>
 ye> 9 :i* ! ,clean ,en]gy = ,am]ica    
,act is enact$ & are aft] pipe1         
equipm5t1 & appurt5ances1 &  7#b7 9     
subp>agraph 7,b71 by ins]t+ :i* are     
plac$ 9 s]vice be=e ! end ( ! cal5d> ye>
 9 :i* ! ,clean ,en]gy = ,am]ica ,act is
 enact$ & are aft] pipe1 equipm5t1 &    
appurt5ances4  7d7 ,repeal ( d$uction = 
t]ti>y injectants ,subsection 7c7 (     
section #aic is am5d$-- 7#a7 9 p>agraph 
7#a71 by /rik+ or at ! end1  7#b7 9     
p>agraph 7#b71 by /rik+ ! p]iod at ! end
 & ins]t+ 1 or1 &  7#c7 by ins]t+ at !  
end ! foll[+3  7#c7 :i* is paid or      
incurr$ dur+ any taxable ye> beg9n+ aft]
 ! date ( ! enactm5t ( ! ,clean ,en]gy =
 ,am]ica ,act4  4  7e7 ,intangible      

drill+ & developm5t co/s ,subsection 7c7
 ( section #bfc is am5d$ to read z      
foll[s3  7c7 ,intangible drill+ &       
developm5t co/s 9 ! case ( oil & gas    
wells & geo!rmal wells  7#a7 ,9 g5]al   
,not)/&+ subsection 7a71 & except z     
provid$ 9 subsection 7i71 regulations   
%all be prescrib$ by ! ,secret>y "u ?is 
subtitle correspond+ to ! regulations   
:i* grant$ ! option to d$uct z exp5ses  
intangible drill+ & developm5t co/s 9 ! 
case ( oil & gas wells & :i* 7 recogniz$
 & approv$ by ! ,congress 9 ,h\se       
,concurr5t ,resolution #ej1 ,sev5ty-n9? 
,congress4 ,su* regulations %all also   
grant ! option to d$uct z exp5ses       
intangible drill+ & developm5t co/s 9 ! 
case ( wells drill$ = any geo!rmal      
deposit 7z def9$ 9 section #fac7;e77#b77
 to ! same ext5t & 9 ! same mann] z su* 
exp5ses are d$uctible 9 ! case ( oil &  
gas wells4 ,?is subsection %all n apply 
) respect to any co/s to :i* any        
d$uction is all[$ "u section #ei7;e7 or 
#bia4  7#b7 ,exclusion  7,a7 ,9 g5]al   

,?is subsection %all n apply to am\nts  
paid or incurr$ by a taxpay] ) reg>d to 
any oil or gas well 9 any taxable ye>   
beg9n+ aft] ! date ( ! enactm5t ( !     
,clean ,en]gy = ,am]ica ,act4  7,b7     
,amortization ( exclud$ am\nts ,! am\nt 
n all[able z a d$uction = any taxable   
ye> by reason ( subp>agraph 7,a7 %all be
 all[able z a d$uction ratably ov] !    
#fj-mon? p]iod beg9n+ ) ! mon? 9 :i* !  
co/s are paid or incurr$4 ,= purposes ( 
section #abed1 any d$uction "u ?is      
subp>agraph %all be treat$ z a d$uction 
"u ?is subsection4  4  7f7 ,p]c5tage    
depletion  7#a7 ,p]c5tage depletion (   
oil & gas wells1 coal1 lignite1 & oil   
%ale ,section #fac is am5d$--  7,a7 9   
subsection 7a71 by /rik+ 7#ajj p]c5t 9 !
 case ( oil & gas prop]ties71  7,b7 9   
subsection 7b7--  7i7 by /rik+ p>agraph 
7#b7 & ins]t+ ! foll[+3  7#b7 #ae p]c5t 
,if f deposits 9 ! ,unit$ ,/ates1 gold1 
silv]1 copp]1 & iron ore4  1  7ii7 9    
p>agraph 7#d71 by /rik+ coal1 lignite11 
7iii7 9 p>agraph 7#e71 by ins]t+ 7except

 oil %ale7 aft] ,clay & %ale1 &  7iv7 9 
p>agraph 7#f77;,a71 by /rik+ 7except    
%ale describ$ 9 p>agraph 7#b77;,b7 or   
7#e77 & ins]t+ 7except oil %ale & %ale  
describ$ 9 p>agraph 7#e771  7,c7 9      
subsection 7c77#d7--  7i7 by /rik+      
subp>agraphs 7,a7 & 7,h71  7ii7 by      
ins]t+ & at ! end ( subp>agraph 7,g71   
7iii7 by r$esignat+ subp>agraphs 7,b7   
?r\gh 7,g7 z subp>agraphs 7,a7 ?r\gh    
7,f71 respectively1 &  7iv7 by          
r$esignat+ subp>agraph 7,i7 z           
subp>agraph 7,g71  7,d7 9 subsection    
7d71 by /rik+ ,except z provid$ 9       
section #fac;,a1 9 ! case ( & ins]t+ ,9 
! case (1 &  7,e7 9 subsection 7e77#b71 
by /rik+ or section #fac;,a4  7#b7 ,oil 
& gas wells ,section #fac;,a is am5d$ by
 add+ at ! end ! foll[+ new subsection3 
7f7 ,t]m9ation ,?is section %all n apply
 to any taxable ye> beg9n+ aft] ! date (
 ! enactm5t ( ! ,clean ,en]gy = ,am]ica 
,act4  4  7#c7 ,effective date ,!       
am5dm5ts made by ?is subsection %all    
apply to taxable ye>s beg9n+ aft] ! date

 ( ! enactm5t ( ?is ,act4  7g7          
,t]m9ation ( capital ga9s treatm5t =    
royalties f coal  7#a7 ,9 g5]al         
,subsection 7c7 ( section #fca is       
am5d$--  7,a7 by /rik+ coal 7includ+    
lignite71 or iron ore & ins]t+ iron ore1
  7,b7 by /rik+ coal or iron ore ea*    
place x appe>s & ins]t+ iron ore1  7,c7 
by /rik+ iron ore or coal ea* place x   
appe>s & ins]t+ iron ore1 &  7,d7 by    
/rik+ coal or 9 ! head+4  7#b7 ,con=m+  
am5dm5t ,! head+ ( section #fca ( !     
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ 1 coal14  7#c7 ,effective date 
,! am5dm5ts made by ?is subsection %all 
apply to taxable ye>s beg9n+ aft] ! date
 ( ! enactm5t ( ?is ,act4  7h7 ,enhanc$ 
oil recov]y cr$it  7#a7 ,9 g5]al ,subp>t
 ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a  
is am5d$ by /rik+ section #dc4  7#b7    
,con=m+ am5dm5ts  7,a7 ,section #ch7;b7 
is am5d$ by /rik+ p>agraph 7#f74  7,b7  
,section #de,q is am5d$-- 7i7 by /rik+  
section #dc7;b77#c77;,b7 ea* place x    
appe>s & ins]t+ section #dc7;b77#c77;,b7

 7z 9 effect on ! day be=e ! date ( !   
enactm5t ( ! ,clean ,en]gy = ,am]ica    
,act71 &  7ii7 9 subsection 7e77#b71 by 
ins]t+ 7z 9 effect on ! day be=e ! date 
( ! enactm5t ( ! ,clean ,en]gy = ,am]ica
 ,act7 aft] section #dc7;c77#b74  7,c7  
,section #aif7;c7 is am5d$--  7i7 by    
/rik+ p>agraph 7#e71 &  7ii7 by         
r$esignat+ p>agraphs 7#f7 ?r\gh 7#ad7 z 
p>agraphs 7#e7 ?r\gh 7#ac71             
respectively4  7#c7 ,cl]ical am5dm5t ,! 
table ( sections = subp>t ,d ( "p ,,iv (
 sub*apt] ,a ( *apt] #a is am5d$ by     
/rik+ ! item relat+ to section #dc4     
7#d7 ,effective date ,! am5dm5ts made by
 ?is subsection %all apply to taxable   
ye>s beg9n+ aft] ! date ( ! enactm5t (  
?is ,act4  7i7 ,cr$it = produc+ oil &   
gas f m>g9al wells  7#a7 ,9 g5]al       
,subp>t ,d ( "p ,,iv ( sub*apt] ,a (    
*apt] #a is am5d$ by /rik+ section      
#de;,i4  7#b7 ,con=m+ am5dm5t ,section  
#ch7;b7 is am5d$ by /rik+ p>agraph      
7#ai74  7#c7 ,cl]ical am5dm5t ,! table (
 sections = subp>t ,d ( "p ,,iv (       

sub*apt] ,a ( *apt] #a is am5d$ by /rik+
 ! item relat+ to section #de;,i4  7#d7 
,effective date ,! am5dm5ts made by ?is 
subsection %all apply to taxable ye>s   
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4  7j7 ,qualify+ advanc$ coal       
project cr$it  7#a7 ,9 g5]al ,subp>t ,e 
( "p ,,iv ( sub*apt] ,a ( *apt] #a is   
am5d$ by /rik+ section #dh;,a4  7#b7    
,con=m+ am5dm5ts  7,a7 ,section #df1 z  
am5d$ by section #ajb ( ?is ,act1 is    
am5d$ by /rik+ p>agraph 7#c7 &          
r$esignat+ p>agraphs 7#d7 ?r\gh 7#g7 z  
p>agraphs 7#c7 ?r\gh 7#f71 respectively4
  7,b7 ,section #di7;a77#a77;,c71 z     
am5d$ by section #ajb ( ?is ,act1 is    
am5d$ by /rik+ clause 7iii7 & r$esignat+
 clauses 7iv7 ?r\gh 7vii7 z clauses     
7iii7 ?r\gh 7vi71 respectively4  7,c7   
,section #ej7;a77#b77;,e71 z am5d$ by   
section #ajb ( ?is ,act1 is am5d$ by    
/rik+ #dh;,a7b77#c714  7#c7 ,cl]ical    
am5dm5t ,! table ( sections = subp>t ,e 
( "p ,,iv ( sub*apt] ,a ( *apt] #a is   
am5d$ by /rik+ ! item relat+ to section 

#dh;,a4  7#d7 ,effective date ,!        
am5dm5ts made by ?is subsection %all    
apply to taxable ye>s beg9n+ aft] ! date
 ( ! enactm5t ( ?is ,act4  7k7 ,qualify+
 gasification project cr$it  7#a7 ,9    
g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a
 ( *apt] #a is am5d$ by /rik+ section   
#dh;,b4  7#b7 ,con=m+ am5dm5ts  7,a7    
,section #df1 z am5d$ by ?is ,act1 is   
am5d$ by /rik+ p>agraph 7#c7 & by       
r$esignat+ p>agraphs 7#d71 7#e71 & 7#f7 
z p>agraphs 7#c71 7#d71 & 7#e71         
respectively4  7,b7 ,section            
#di7;a77#a77;,c71 z am5d$ by ?is ,act1  
is am5d$ by /rik+ clause 7iii7 &        
r$esignat+ clauses 7iv7 ?r\gh 7vi7 z    
clauses 7iii7 ?r\gh 7v74  7,c7 ,section 
#ej7;a77#b77;,e71 z am5d$ by ?is ,act1  
is am5d$ by /rik+ #dh;,b7b77#c714  7#c7 
,cl]ical am5dm5t ,! table ( sections =  
subp>t ,e ( "p ,,iv ( sub*apt] ,a (     
*apt] #a is am5d$ by /rik+ ! item relat+
 to section #dh;,b4  7#d7 ,effective    
date ,! am5dm5ts made by ?is subsection 
%all apply to taxable ye>s beg9n+ aft] !

 date ( ! enactm5t ( ?is ,act4  7l7     
,re9/atem5t ( treatm5t ( =eign base     
company oil relat$ income z =eign base  
company income  7#a7 ,9 g5]al ,section  
#ied7;a7 is am5d$ by /rik+ & at ! end ( 
p>agraph 7#b71 by /rik+ ! p]iod at ! end
 ( p>agraph 7#c7 & ins]t+ 1 &1 & by add+
 at ! end ! foll[+ new p>agraph3  7#d7 !
 =eign base company oil relat$ income = 
! taxable ye> 7det]m9$ "u subsection 7g7
 & r$uc$ z provid$ 9 subsection         
7b77#e774  4  7#b7 ,=eign base company  
oil relat$ income ,section #ied is am5d$
 by ins]t+ be=e subsection 7h7 ! foll[+ 
new subsection3  7g7 ,=eign base company
 oil relat$ income ,= purposes ( ?is    
section--  7#a7 ,9 g5]al ,except z      
o!rwise provid$ 9 ?is subsection1 ! t]m 
=eign base company oil relat$ income    
means =eign oil relat$ income 7)9 !     
mean+ ( p>agraphs 7#b7 & 7#c7 ( section 
#ijg7;c77 o!r ?an income d]iv$ f a s\rce
 )9 a =eign c\ntry 9 connection )-- 7,a7
 oil or gas :i* 0 extract$ f an oil or  
gas well locat$ 9 su* =eign c\ntry1 or  

7,b7 oil1 gas1 or a prim>y product ( oil
 or gas :i* is sold by ! =eign          
corporation or a relat$ p]son = use or  
consumption )9 su* c\ntry or is load$ 9 
su* c\ntry on a vessel or aircraft z    
fuel = su* vessel or aircraft4  ,su* t]m
 %all n include any =eign p]sonal hold+ 
company income 7z def9$ 9 subsection    
7c774  7#b7 ,p>agraph 7#a7 applies only 
:]e corporation has produc$ #a1jjj      
b>rels p] day or m  7,a7 ,9 g5]al ,! t]m
 =eign base company oil relat$ income   
%all n include any income ( a =eign     
corporation if su* corporation is n a   
l>ge oil produc] = ! taxable ye>4  7,b7 
,l>ge oil produc] ,= purposes (         
subp>agraph 7,a71 ! t]m l>ge oil produc]
 means any corporation if1 = ! taxable  
ye> or = ! prec$+ taxable ye>1 ! av]age 
daily production ( =eign crude oil &    
natural gas ( ! relat$ gr\p :i* includes
 su* corporation equal$ or exce$$ #a1jjj
 b>rels4  7,c7 ,relat$ gr\p ,! t]m      
relat$ gr\p means a gr\p consi/+ ( !    
=eign corporation & any o!r p]son :o is 

a relat$ p]son ) respect to su*         
corporation4  7,d7 ,av]age daily        
production ( =eign crude oil & natural  
gas ,= purposes ( ?is p>agraph1 ! av]age
 daily production ( =eign crude oil or  
natural gas ( any relat$ gr\p = any     
taxable ye> 7& ! conv]sion ( cubic feet 
( natural gas into b>rels7 %all be      
det]m9$ "u rules simil> to ! rules (    
section #fac;,a except t only crude oil 
or natural gas f a well locat$ outside !
 ,unit$ ,/ates %all be tak5 into acc\nt4
  4  7#c7 ,con=m+ am5dm5ts  7,a7        
,section #ieb7;c77#a77;,b77iii7 is am5d$
 by r$esignat+ subclauses 7,i7 ?r\gh    
7,,iv7 z subclauses 7,,ii7 ?r\gh 7,v71  
respectively1 & by ins]t+ be=e subclause
 7,,ii7 7z r$esignat$7 ! foll[+ new     
subclause3  7,i7 =eign base company oil 
relat$ income1  4  7,b7 ,section        
#ied7;b7 is am5d$--  7i7 9 p>agraph     
7#d71 by ins]t+ at ! end ! foll[+ new   
s5t5ce3 ,! prec$+ s5t5ce %all n apply to
 =eign base company oil-relat$ income   
describ$ 9 subsection 7a77#d741  7ii7 9 

p>agraph 7#e71 by /rik+ & ! =eign base  
company s]vices income & ins]t+ ! =eign 
base company s]vices income1 & ! =eign  
base company oil relat$ income1 &  7iii7
 by add+ at ! end ! foll[+ new p>agraph3
  7#f7 ,=eign base company oil relat$   
income n treat$ z ano!r k9d ( base      
company income ,income ( a corporation  
:i* is =eign base company oil relat$    
income %all n be consid]$ =eign base    
company income ( su* corporation "u     
p>agraph 7#b7 or 7#c7 ( subsection 7a74 
4  7#d7 ,effective date ,! am5dm5ts made
 by ?is subsection %all apply to taxable
 ye>s ( =eign corporations beg9n+ aft] !
 date ( ! enactm5t ( ?is ,act1 & to     
taxable ye>s ( ,unit$ ,/ates %>ehold]s )
 or )9 :i* su* taxable ye>s ( =eign     
corporations end4  7m7 ,inclusion (     
=eign oil & gas extraction income 9 te/$
 income = purpose ( det]m9+ global      
intangible l[-,tax$ income  7#a7 ,9     
g5]al ,section #iea;,a7c77#b77;,a77i7 is
 am5d$ by ins]t+ & at ! end ( subclause 
7,,iii71 by /rik+ & at ! end ( subclause

 7,,iv7 & ins]t+ ov]1 & by /rik+        
subclause 7,v74  7#b7 ,effective date ,!
 am5dm5ts made by ?is subsection %all   
apply to taxable ye>s ( =eign           
corporations beg9n+ aft] ! date ( !     
enactm5t ( ?is ,act1 & to taxable ye>s (
 ,unit$ ,/ates %>ehold]s 9 :i* or ) :i* 
su* tax ye>s ( =eign corporations end4  
7n7 ,repeal ( corporate income tax      
exemption = publicly trad$ p>tn]%ips )  
qualify+ income & ga9s f activities     
relat+ to fossil fuels  7#a7 ,9 g5]al   
,section #ggjd7;d77#a7 is am5d$--  7,a7 
9 subp>agraph 7,e71 by /rik+ 7includ+   
pipel9es transport+ gas1 oil1 or        
products !re(71 &  7,b7 9 ! flu% matt]  
at ! end1 by ins]t+ or any coal1 gas1   
oil1 or products !re( be=e ! p]iod4     
7#b7 ,effective date ,! am5dm5ts made by
 ?is subsection %all apply to taxable   
ye>s beg9n+ aft] ! date ( ! enactm5t (  
?is ,act4  ,,vi ,work=ce developm5t     
requirem5ts  #fja4 ,use ( qualifi$      
appr5tices  7a7 ,9 g5]al ,all           
contractors & subcontractors engag$ 9 ! 

p]=mance ( con/ruction1 alt]ation1 or   
repair "w on any applicable project     
%all1 subject to subsection 7b71 ensure 
t n less ?an #ae p]c5t ( ! total labor  
h\rs ( su* "w be p]=m$ by qualifi$      
appr5tices4  7b7                        
,appr5tice-to-,j\rneywork] ratio ,!     
requirem5t "u subsection 7a7 %all be    
subject to any applicable requirem5ts = 
appr5tice-to-j\rneywork] ratios ( !     
,dep>tm5t ( ,labor or ! applicable ,/ate
 appr5tice%ip ag5cy4  7c7 ,p>ticipation 
,ea* contractor & subcontractor :o      
employs #d or m individuals to p]=m     
con/ruction1 alt]ation1 or repair "w on 
an applicable project %all employ #a or 
m qualifi$ appr5tices to p]=m su* "w4   
7d7 ,exception ,not)/&+ any o!r         
provision 9 ?is section1 ?is section    
%all n apply 9 ! case ( a taxpay] :o--  
7#a7 demon/rates a lack ( availability (
 qualifi$ appr5tices 9 ! geographic area
 ( ! con/ruction1 alt]ation1 or repair  
"w2 &  7#b7 makes a good fai? ef=t1 &   
its contractors & subcontractors make a 

good fai? ef=t1 to comply ) !           
requirem5ts ( ?is section4  7e7         
,def9itions ,9 ?is section3  7#a7       
,applicable project ,! t]m applicable   
project means1 ) respect to-- 7,a7      
subsection 7e77#g77;,a77ii7 ( section   
#cj;,c ( ! ,int]nal ,rev5ue ,code (     
#aihf1  7,b7 subsection 7f77#h77;,a77ii7
 ( section #de,q ( su* ,code1  7,c7     
subsection 7b77#a77;,a77iv77,,ii7 (     
section #de,u ( su* ,code1  7,d7        
subsections 7b77#c77;,a77iv77,,ii7 &    
7c77#a77;,b77ii7 ( section #dh;,d ( su* 
,code1 &  7,e7 subsection               
#i;c77#a77;,e77ii7 ( section #agi;,d (  
su* ,code1  any prop]ty1 equipm5t1 or   
facility = :i* a cr$it is all[$ "u su*  
sections4  7#b7 ,labor h\rs ,! t]m labor
 h\rs-- 7,a7 means ! total numb] ( h\rs 
devot$ to ! p]=mance ( con/ruction1     
alt]ation1 or repair "w by employees ( !
 contractor or subcontractor2 &  7,b7   
excludes any h\rs work$ by-- 7i7 =em52  
7ii7 sup]9t5d5ts2  7iii7 own]s2 or  7iv7
 p]sons employ$ 9 a bona fide executive1

 adm9i/rative1 or pr(essional capacity  
7)9 ! mean+ ( ^? t]ms 9 "p #eda ( title 
#bi1 ,code ( ,f$]al ,regulations74  7#c7
 ,qualifi$ appr5tice ,! t]m qualifi$    
appr5tice means an individual :o is an  
employee ( ! contractor or subcontractor
 & :o is p>ticipat+ 9 a regi/]$         
appr5tice%ip program1 z def9$ 9 section 
#caca7;e77#c77;,b7 ( ! ,int]nal ,rev5ue 
,code ( #aihf4