(A) generally. L. 97–248, see section 31(g)(1), (12) of Pub. Pub. (n) redesignated (p) and subsequently as (q). L. 99–514, § 251(b), in amending par. Pub. (d)(4)(D). L. 98–369 effective, except as otherwise provided in section 31(g) of Pub. L. 88–272, title II, § 203(a)(2), Feb. 26, 1964, 78 Stat. L. 100–647, § 1002(a)(16)(A), added par. L. 97–34, § 211(h), designated existing provisions as subcl. B, title I, Sec. Pub. (1) the present first sentence, redesignated as subpars. L. 94–12, set out as an Effective Date of 1975 Amendment note under section 46 of this title. (l)(5). Subsec. § 1.48-4(a)(1). Pub. Percentage of project value RESURCES FR STATE AND LCAL GERNENTS 3. (q)(3). Pub. L. 109–58, § 1336(d), inserted “except as provided in paragraph (1)(B) or (2)(B) of subsection (d),” before “the energy credit”. Subsec. (g). L. 99–514, title XVIII, § 1881, Oct. 22, 1986, 100 Stat. L. 94–12, § 302(c)(3), substituted “section 46(e)(1)” for “section 46(d)(1)”. (l)(1). L. 97–448, § 102(f)(3), substituted “a credit is determined under section 46(a)(2)” for “a credit is allowed under this section” and “the credit so determined” for “the credit so allowed”. 240, as amended by Pub. For purposes of the preceding sentence, rules similar to the rules of section 48(m) (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply.”. Subsec. Pub. Pub. Subsec. Pub. Section 48-7-40.2 - Tax credits for existing manufacturing and telecommunications facilities in tier 1 counties; conditions and limitations (a) As used in this Code section, the term: (1) 'Product' means a marketable product or component of a product which has an economic value to the wholesale or retail consumer and is ready to be used without further alteration of its form, or a … Subsec. L. 99–121, set out as a note under section 168 of this title. 1302(b), 123 Stat. (s), relating to cross reference, as (t). (Added by Pub. L. 95–600, to which such amendment relates, see section 201 of Pub. Pub. L. 99–514, title XVIII, § 1879(j)(2), Pub. Subsec. Amendment by section 211(c) of Pub. (n)(6)(B)(i). Subsec. (16). (II). (c)(4). Amendment by Pub. 2095, provided that: equipment which uses solar energy to generate electricity, to heat or cool (or provide hot water for use in) a structure, or to provide solar process heat, excepting property used to generate energy for the purposes of heating a swimming pool, equipment which uses solar energy to illuminate the inside of a structure using fiber-optic distributed sunlight but only with respect to property the construction of which begins before, equipment used to produce, distribute, or use energy derived from a geothermal deposit (within the meaning of, equipment which uses the ground or ground water as a thermal energy source to heat a structure or as a thermal energy sink to cool a structure, but only with respect to property the construction of which begins before, the construction, reconstruction, or erection of which is completed by the taxpayer, or. Subsec. L. 99–514, set out as a note under section 47 of this title. Subsec. (k), (l). (c)(2)(C). L. 96–223, § 222(f), added par. Subsec. Pub. 29, 1975, 89 Stat. Such term shall not include any property which is part of a facility the production from which is allowed as a credit under, the proceeds of a private activity bond (within the meaning of. (a)(1)(A). L. 99–514, § 2, Oct. 22, 1986, 100 Stat. A US federal income tax credit for certain types of renewable energy projects including solar, geothermal and fuel cell energy (IRC § 48). “(D) Financing taken into account.—For the purpose of applying the provisions of section 48(l)(11) of such Code in the case of property financed in whole or in part by subsidized energy financing (within the meaning of section 48(l)(11)(C) of such Code), no financing made before January 1, 1980, shall be taken into account. (l)(16)(B)(i). L. 98–369, § 735(c)(1), substituted “the chassis of which is an automobile bus chassis and the body of which is an automobile bus body” for “the chassis and body of which is exempt under section 4063(a)(6) from the tax imposed by section 4061(a)”. (B) read as follows: “In the case of qualified small wind energy property placed in service during the taxable year, the credit otherwise determined under subsection (a)(1) for such year with respect to all such property of the taxpayer shall not exceed $4,000.”. Subsec. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. The adjustments under this paragraph shall be made as of the first day of the taxpayer’s first taxable year which begins after, {'misc': '', 'cleanpath': '/uscode/text/26/48', 'headtext': ' Energy credit', 'cfr_titles': [{'title': '25', 'parts': [{'part': '275', 'cleanpath': '/cfr/text/25/part-275', 'headtext': 'STAFFING'}]}, {'title': '26', 'parts': [{'part': '301', 'cleanpath': '/cfr/text/26/part-301', 'headtext': 'PROCEDURE AND ADMINISTRATION'}]}], 'section': '48'}, Except as provided in paragraphs (6) and (7), the energy percentage is—, which meets the performance and quality standards (if any) which—, Special rule for property financed by subsidized energy financing or industrial development bonds, For purposes of applying the energy percentage to any property, if such property is financed in whole or in part by—, For purposes of subparagraph (A), the fraction determined under this subparagraph is 1 reduced by a fraction—, Election to treat qualified facilities as energy property, For purposes of this paragraph, the term “, In the case of any facility using wind to produce electricity which is treated as, Subject to subparagraph (B), in the case of any, Phaseout for fiber-optic solar, qualified fuel cell, and qualified small wind energy property, Certain progress expenditure rules made applicable, For purposes of this paragraph, the energy efficiency percentage of a system is the fraction—, If a system is designed to use biomass (within the meaning of paragraphs (2) and (3) of section 45(c) without regard to the last sentence of paragraph (3)(A)) for at least 90 percent of the energy source—, Coordination with Department of Treasury grants, In the case of any property with respect to which the Secretary makes a grant under section 1603 of the, Denial of production and investment credits, Recapture of credits for progress expenditures made before grant, If a credit was determined under this section with respect to such property for any taxable year ending before such grant is made—, Extension of combined heat and power system property.—, Allowance against alternative minimum tax.—, Combined heat and power and fuel cell property.—, The amendment made by section 14 [amending, Effective and Termination Dates of 1982 Amendment, Election may also apply to property described in section 50(a).—, Effective and Termination Dates of 1975 Amendment, “Paragraphs (1) [amending this section] and (3) [amending this section and, Grants for Specified Energy Property in Lieu of Tax Credits, Upon application, the Secretary of the Treasury shall, subject to the requirements of this section, provide a grant to each person who places in service specified, For purposes of paragraph (1), the term ‘applicable percentage’ means—, The Secretary of the Treasury shall make payment of any grant under subsection (a) during the 60-day period beginning on the later of—, For purposes of this section, the term ‘specified, Combined heat and power system property.—, For purposes of this section, the term ‘credit termination date’ means—, The Secretary of the Treasury shall not make any grant under this section to—, Plan Amendments Not Required Until January 1, 1989, Clarification of Effect of 1984 Amendment on Investment Tax Credit, Alternative Methods of Computing Credit for Past Periods, General rule for determining useful life, predominant foreign use, etc.—, In the case of a qualified film (within the meaning of section 48(k)(1)(B) of the, If the taxpayer makes an election under this paragraph, then section 48(k) of the, The taxpayer must consent to join in certain proceedings.—, Election to have credit determined in accordance with previous litigation.—, If the taxpayer makes an election under this paragraph—, Increase in Basis of Property Placed in Service Before, If a lessor made the election provided by section 48(d) of the, Subchapter A. ” in introductory provisions section 113 ( c ), struck out par b! 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