L. 114–113, div. Under the “Extenders Bill,” biomass-to-electricity (anaerobic digestion) projects that previously may not have qualified are now eligible for significant project capital support via a tax credit scenario. (A), redesignated subpar. (q)(3). Amendment by section 113(b)(3) of Pub. Subsec. the original use of which commences with the taxpayer. (A) generally. (g)(4). “(C) Expanded energy credit property.—For purposes of subparagraph (B), the term ‘expanded energy credit property’ means—. Amendment by Pub. (1)(B), substituted a definition of “substantially rehabilitated” for former provisions that a major portion could be treated as a separate building in certain cases in par. L. 99–514, title XVIII, § 1879(j)(2), Pub. (d)(5). Amendment by section 2112(a) of Pub. (iii) relating to qualified fuel cell property or qualified microturbine property. Pub. (a)(3)(A)(iv). Pub. In the case of any property which is described in paragraph (3) and also in another paragraph of this subsection, paragraph (3) shall apply with respect to such property. Pub. (j). “(i) property to which section 48(l)(3)(A) of such Code applies because of the amendments made by paragraphs (1) and (2) of section 222(b) [amending this section]. (h) which related to suspension of investment credit. Pub. L. 99–514 applicable to taxable years beginning after Dec. 31, 1986, with certain exceptions and qualifications, see section 1277 of Pub. 2018—Subsec. (8) “Amortized property” which read as follows: “Any property with respect to which an election under section 167(k), 184, or 188 applies shall not be treated as section 38 property.”. Pub. L. 112–240, set out as a note under section 45 of this title. L. 99–514 applicable to property placed in service after Dec. 31, 1986, in taxable years ending after such date, except as otherwise provided for certain rehabilitations, see section 251(d) of Pub. Q, title I, § 127(b), Crude Oil Windfall Profit Tax Act of 1980, Pub. Subsec. Amendment by section 710(e) of Pub. (D) as (E). The energy percentage shall not apply to that portion of the basis of any property which is attributable to qualified rehabilitation expenditures. Amendment by section 701(e)(4)(C) of Pub. (k) as subsec. (B) directed that 30 years must have elapsed since construction, in subpar. L. 100–647, § 1002(a)(30), substituted “to which section 168 applies” for “which is recovery property (within the meaning of section 168)”. 1580; Pub. subparagraph (A)(iii) shall not apply, but. (a)(1)(A). L. 99–514, § 1511(c)(3), substituted “the underpayment rate” for “the rate” in closing provisions. L. 98–369, § 31(c)(2), inserted “The preceding sentence shall not apply to any expenditure to the extent subsection (f)(12) or (j) of section 168 applies to such expenditure.”. (II), substituted “holding period of the building” for “holding period of the property” and inserted provision that, for purposes of the preceding sentence, the determination of the beginning of the holding period shall be made without regard to any reconstruction by the taxpayer in connection with the rehabilitation. Pub. Pub. Subsec. Subsec. L. 99–514, § 1809(d)(2), renumbered par. Former subpar. L. 115–123, § 40411(b)(3), inserted “which is treated as energy property by reason of this paragraph” after “using wind to produce electricity” in introductory provisions. L. 96–223, § 223(a)(1), as amended by Pub. A, title IV, § 474(o)(15), July 18, 1984, 98 Stat. Pub. (C) and (D) as (B) and (C), respectively, and struck out former subpar. (a)(5). Subsec. Pub. L. 97–448, § 306(a)(3), substituted “paragraphs (1) and (2) of this subsection and paragraph (5) of subsection (d)” for “paragraphs (1) and (2)”. L. 100–647, § 1002(a)(14)(E), substituted “168(h)(1)(C)(ii)” for “168(j)(3)(C)(ii)”. Former subsec. L. 99–514, § 1802(a)(4)(C), added subpar. See 1980 Amendment note below. (2)(B), reenacted cls. Pub. (a)(1). L. 109–58, set out as an Effective Date of 2005 Amendment note under section 46 of this title. 38, as amended by Pub. 2095, provided that: Amendment by section 712(b) of Pub. Subsec. Subsec. Pub. Subsec. Pub. L. 97–354, set out as an Effective Date note under section 1361 of this title. Amendment by section 312(c)(1), (2), (3) of Pub. 151, provided that: Pub. L. 109–58, title XIII, § 1336(e), Aug. 8, 2005, 119 Stat. (a)(7)(A). Pub. L. 113–295 effective Jan. 1, 2014, see section 155(c) of Pub. 2095, provided that: Amendment by section 1051(h)(1) of Pub. (3) which provided that the $25,000 amount specified under subparagraphs (A) and (B) of section 46(a)(3) applicable to an estate or trust be reduced to an amount which bore the same ratio to $25,000 as the amount of the qualified investment allocated to the estate or trust under paragraph (1) to the entire amount of the qualified investment. (s). 364, as amended by Pub. L. 109–58, § 1337(b), redesignated cl. L. 99–514, set out as an Effective Date note under section 55 of this title. Pub. Pub. L. 110–343, div. See 1982 Amendment note for subsec. 15, 1984, subject to certain exceptions, see section 111(g) of Pub. L. 98–369, § 474(o)(12), struck out par. 1608; Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. Subsec. L. 108–357 applicable with respect to expenditures paid or incurred after Oct. 22, 2004, see section 322(e) of Pub. (iv) relating to certified historic structures, and added cl. L. 88–272, § 203(a)(1), repealed subsec. L. 92–178, § 104(a)(1), substituted “research facility” for “research or storage facility” in cl. L. 99–514, § 1879(j)(1), added subsec. Subsec. Subsec. has an electricity-only generation efficiency greater than 30 percent. investment tax credit (ITC) expressed as a percentage of the project’s value.7 The Section 48 and Section 25D schedules reflect commenced-construction dates and placed-in-service dates, respectively. L. 115–123, § 40411(b)(1), added par. L. 115–123, div. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. Pub. The term “qualified microturbine property” shall not include any property the construction of which does not begin before January 1, 2022. (g)(2). L. 110–343, § 105(a), added cl. 1969—Subsec. B, title I, Sec. L. 98–369 applicable to taxable years beginning after Dec. 31, 1983, and to carrybacks from such years, see section 475(a) of Pub. 58, provided that: Pub. L. 109–58, § 1337(b), added cl. L. 97–354 applicable to taxable years beginning after Dec. 31, 1982, see section 6(a) of Pub. L. 98–369, § 712(b), added par. (C). Subsec. (l)(2)(C). 3024, provided that: Amendment by section 11813(a) of Pub. (vii) includes equipment used for the storage of fuel derived from garbage at the site at which such fuel was produced from garbage. Former subpar. L. 97–448, set out as a note under section 31 of this title. Subsecs. L. 99–514 notwithstanding any treaty obligation of the United States in effect on Oct. 22, 1986, with provision that for such purposes any amendment by title I of Pub. Subsec. Pub. L. 94–12, set out as an Effective Date of 1975 Amendment note under section 46 of this title. (l)(13). Section 47(a)(7) of such Code shall apply. Limitation on credit for qualified investment tax credit ; Latest version. (D) substituting provisions defining nonresidential real property, residential rental property and class life for provisions defining low-income housing. Pub. Investment Tax Credit (ITC) Related Content. Pub. Subsec. 241, provided that: Pub. Subsec. Pub. Subsec. 2006—Subsec. Such an election, once made, may be revoked only with the consent of the Secretary.”. Amendment by section 111(e)(8) of Pub. L. 98–369, § 11(a), substituted “$125,000 ($150,000 for taxable years beginning after 1987)” for “$150,000 ($125,000 for taxable years beginning in 1981, 1982, 1983, or 1984)” in first sentence, and “$125,000 (or $150,000” for “$150,000 (or $125,000” in two places in second sentence. (1), “if such property is leased by a corporation which is a member of an affiliated group (within the meaning of section 46(a)(5) to another corporation which is a member of the same affiliated group” for “if paragraph (1) does not apply” in par. (a)(7)(B). Amendment by section 401(e)(2)–(4) of Pub. (c). (a)(10)(B). (a)(5)(B)(ii). 320, provided that: Amendment by section 1103(a), (b)(1) of Pub. Pub. L. 98–369, § 1043(a), added subpar. • To be eligible for the 30% ITC, a solar PV system must … Both Code sections refer to "solar energy to generate electricity" for purposes of receiving the tax credit. L. 94–455, set out as a note under section 2 of this title. L. 100–647, § 1002(a)(14)(F), substituted “paragraphs (5) and (6) of section 168(h)” for “paragraphs (8) and (9) of section 168(j)”. Letter Ruling 20153014, interpreting Sec. Amendment by section 209(d) of Pub. (h) to (k). (a)(3)(A)(ii), (vii). Pub. Pub. 1978—Subsec. (a)(2)(B). L. 97–34, to which such amendment relates, see section 109 of Pub. Subsec. L. 101–239, set out as an Effective Date note under section 263A of this title. Any property described in clause (iii) of section 48(a)(3)(A) of such Code. (viii) to (x), respectively. Amendment by section 212(a)(3), (b), (c), (d)(2)(A) of Pub. (c)(4)(B) to (D). (c)(1)(E). Subsec. (vi) as (v) and substituting “section 168(h)” for “section 168(j)”, redesignating former cl. 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. L. 114–113, § 303(c), substituted “Except as provided in paragraph (6), the energy percentage” for “The energy percentage” in introductory provisions. (11) to incorporate property financed by subsidized energy financing, effective with regard to periods after Dec. 31, 1982. L. 99–514, § 1802(a)(5)(B), struck out cl. Pub. L. 97–424, § 546(a)(3), substituted reference to subpar. (o)(3) to (8). The preceding sentence shall not apply to financing provided from the proceeds of … Subsec. Subsec. (A) and (B), substituted “such energy property” and “such property” for “any energy property”. Amendment by section 1901(a)(5), (b)(11)(A) of Pub. (B), in cl. (b). L. 97–248, to which such amendment relates, see section 311(d) of Pub. A taxpayer may elect to have this paragraph apply to all qualified films placed in service during taxable years beginning before. • The solar investment tax credit (ITC) is a tax credit that can be claimed on federal corporate income taxes for 30% of the cost of a solar photovoltaic (PV) system that is placed in service during the tax year.1 (Other types of renewable energy are also eligible for the ITC but are beyond the scope of this guidance.) Section 48-7-40.28 - Limitation on credit for qualified investment tax credit (a) As used in this Code section, the term: (1) "Credit" means a state income tax credit against the tax imposed pursuant to this article in an amount equal to 10 percent of the taxpayer's qualified investment. 1964—Subsec. L. 98–369, set out as a note under section 4051 of this title. Pub. for purposes of section 46(c)(1) of such Code, the basis of the property shall be determined by taking into account the total production costs (within the meaning of section 48(k)(5)(B) of such Code), for purposes of section 48(a)(2) of such Code, such film shall be considered to be used predominantly outside the United States in the first taxable year for which 50 percent or more of the gross revenues received or accrued during the taxable year from showing the film were received or accrued from showing the film outside the United States, and. Subsec. L. 97–34 applicable to periods after Dec. 31, 1980, under rules similar to the rules under subsec. L. 95–600, title III, § 314(c), Nov. 6, 1978, 92 Stat. Subsec. Subsec. L. 112–240, § 407(c)(1), added cls. (6). L. 97–34, set out as a note under section 46 of this title. (k)(5)(D)(i). (16). (a)(3)(D). (a)(2)(B)(vii). Former subsec. Pub. 228, provided that: Pub. (vi). Pub. (F) property as its normal growing period. Pub. L. 108–357, § 322(d)(2)(A)(ii), substituted “subsection (a)” for “this subsection”. L. 109–58, § 1337(a), reenacted heading without change and amended text of subpar. L. 97–362, § 104(a), temporarily substituted the qualification that such term does not include equipment for hydrogenation, refining, or other process subsequent to retorting other than hydrogenation or other process which is applied in the vicinity of the property from which the shale was extracted and which is applied to bring the shale oil to a grade and quality suitable for transportation to and processing in a refinery, for the qualification that such equipment did not include equipment for hydrogenation, refining, or other processes subsequent to retorting. (a)(3)(A)(ii). Subsec. (17). (4). 900x}P��y�E��(#SCq�c�ԝ��j�P8XM>i&�ѷ�4k��bVn�q@�` �\� L. 110–343, § 103(c)(2)(A), inserted heading and struck out former heading “Qualified fuel cell property; qualified microturbine property”. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. (7) to (9), respectively. Subsec. Pub. (f)(3). L. 97–34, § 332(b), substituted “which does not exceed” for “equal to”. L. 110–172, § 11(a)(8), substituted “section” for “subsection” in introductory provisions. L. 97–248, § 205(a)(4), added par. Such term shall not include any property unless depreciation (or amortization in lieu of depreciation) is allowable with respect to such property. A, title I, § 155(b), Pub. 2, 1980, 94 Stat. 1991, provided that: Pub. (c)(2)(A). L. 88–272, title II, § 203(f), Feb. 26, 1964, 78 Stat. Subsec. (a)(2)(B)(vi). Subsec. (2) and (4), incorporated provisions of former second, third, and fourth sentences in provisions designated as par. (E) which had provided an alternative test for definition of qualified rehabilitated building. The Secretary of the Treasury shall not make any grant to any person under this section unless the application of such person for such grant is received before, “The amendment made by this section [amending, “If refund or credit of any overpayment of tax resulting from the application of this subsection [amending this section] is prevented at any time before the close of the date which is 1 year after the date of the enactment of this Act [, the applicable percentage under section 46(c)(2) of such Code shall be determined as if the useful life of the film would have expired at the close of the first taxable year by the close of which the aggregate amount allowable as a deduction under section 167 of such Code would equal or exceed 90 percent of the basis of such property (adjusted for any partial. (7). L. 115–141, § 401(a)(350)(A), made technical amendment to directory language of Pub. (a)(1)(B)(ii), (iii). L. 97–34 applicable to property placed in service after Dec. 31, 1980, see section 211(i)(1) of Pub. (c)(2)(B). Pub. (l)(4)(C). Pub. Subsec. “(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. (A) generally. (ii) and added cl. Subsec. (r) as (s). 266, as amended by Pub. (r) redesignated (s). Subsec. L. 98–369, as to property placed in service by the taxpayer after May 23, 1983, in taxable years ending after such date and to property placed in service by the taxpayer on or before May 23, 1983, if the lease to the tax-exempt entity is entered into after May 23, 1983, and amendment by section 31(c)(2) of Pub. Pub. For federal income tax purposes, Section 48(d) created the legal fiction that the lessee has purchased the property from the lessor at its fair market value, resulting in the ability of the lessee to take the investment tax credit attributable to the lessor’s basis in the property. (r) as (s) by Pub. (b)(1). L. 100–647, § 1002(a)(14)(D), substituted “168(i)(3)” for “168(j)(6)”. %PDF-1.5 %���� Pub. Pub. L. 97–448 effective as if included in the provisions of the Tax Equity and Fiscal Responsibility Act of 1982, Pub. 503, as amended by Pub. L. 94–455, set out as a note under section 46 of this title. Subsec. (M) in provision following subparagraphs. This credit is used when homeowners purchase solar systems and have them installed on their homes. Pub. Pub. Under the ITC, owners of qualifying energy projects can claim a tax credit up to 30% of their project's capital costs. (2) Energy percentage 266, as amended by Pub. L. 92–178, § 104(c)(2), (3), (d), added cls. (iii) which provided that (I) in the case of any aircraft used under a qualifying lease (as defined in section 47(a)(7)(C)) and which is leased to a foreign person or entity before January 1, 1990, clause (i) shall be applied by substituting “3 years” for “6 months” and that (II) for purposes of applying section 47(a)(1) and (5)(B) there shall not be taken into account any period of a lease to which subclause (I) applies. Pub. Subsec. 2015—Subsec. Pub. L. 97–354, § 5(a)(8), substituted “an S corporation” for “an electing small business corporation (within the meaning of section 1371)”. Pub. Subsec. (c)(1)(D). (ix), inserted provision that the equipment described in cl. other tangible property (not including a building or its structural components), but only if such property is used as an integral part of the. L. 110–343, § 104(d), substituted “paragraphs (1)(B), (2)(B), (3)(B), and (4)(B)” for “paragraphs (1)(B), (2)(B), and (3)(B)”. L. 108–357, § 322(d)(2)(A)(iii), redesignated subsec. Pub. (k)(4)(A). L. 109–58, § 1336(d), inserted “except as provided in paragraph (1)(B) or (2)(B) of subsection (d),” before “the energy credit”. Amendment by section 40409(b) of Pub. L. 98–369, § 474(o)(17)(A), substituted “section 46(a)” for “section 46(a)(2)”. L. 95–600, §§ 141(b), 314(b), added subsec. (g)(5) above and see Effective Date of 1982 and 1983 Amendment notes set out under sections 1 and 196 of this title. L. 95–600, to which such amendment relates, see section 201 of Pub. Pub. (l)(16)(B)(i). (g) which required that the basis of section 38 property be reduced by 7 percent of the qualified investment. L. 111–5, div. which is a qualified facility (within the meaning of, which is placed in service after 2008 and the construction of which begins before, no credit has been allowed under section 45, and. (k)(4). (a)(5). Subsec. Amendment by Pub. (3) generally, inserted introductory phrase “For purposes of this subsection—”. L. 110–343, § 103(a)(2), substituted “December 31, 2016” for “December 31, 2008”. Pub. (a)(7). Subsec. (1)(C), reenacted par. (a)(5)(C)(ii). 1985—Subsec. L. 98–369, div. Pub. Subsec. L. 115–123, § 40411(c), substituted “the construction of which does not begin before January 1, 2022” for “for any period after December 31, 2016”. Subsec. 131 0 obj <> endobj (a)(7)(B). (g). Subsec. L. 98–369, § 474(o)(16), redesignated par. The Section 25D residential ITC allows the homeowner to apply the credit to his/her personal income taxes. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary”. (e). (d)(1)(B). (E) as (D) and struck out heading and text of former subpar. L. 110–343, div. L. 97–248, to which such amendment relates, see section 715 of Pub. Subsec. Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of subsection (a). In the case of qualified fuel cell property placed in service during the taxable year, the credit otherwise determined under subsection (a) for such year with respect to such property shall not exceed an amount equal to $1,500 for each 0.5 kilowatt of capacity of such property. (C). Subsec. L. 113-295 , Div. (I), substituted “adjusted basis of such building (and its structural components)” for “adjusted basis of such property” both in subcl. (r) redesignated (s). L. 97–448, title I, § 102(g), Jan. 12, 1983, 96 Stat. (a)(5)(C). L. 111–5, § 1104, added subsec. Terms used in this section which are also used in section 45 or 48 of the. Subsec. 2, 1980, 94 Stat. Prior to amendment, text read as follows: “For purposes of this paragraph, the term ‘qualified investment credit facility’ means any of the following facilities if no credit has been allowed under section 45 with respect to such facility and the taxpayer makes an irrevocable election to have this paragraph apply to such facility: “(i) Wind facilities.—Any qualified facility (within the meaning of section 45) described in paragraph (1) of section 45(d) if such facility is placed in service in 2009, 2010, 2011, or 2012. L. 95–618, title III, § 301(d)(4), Nov. 9, 1978, 92 Stat. Effective with regard to periods after Dec. 31, 1982, 96 Stat years must have elapsed since construction in! In cl of 1980, Pub income Tax credit for the 30 of. Dollar limitation to $ 62,500 investment tax credit section 48 1981 and to $ 150,000 in 1985 raising in subpar real,... ” following cl § 207 ( 2 ) ( 2 ), added par and qualifications see! 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Used when homeowners purchase solar systems and have them installed on their homes this subsection— ” 98–369 §. Property which is allocable to such property shall be determined on a Btu basis include any property which a. 1982 amendment note below rehabilitation included reconstruction, and, in subpar 129 Stat effect at time. 721 ( X ) and ( b ) ( q ) ( a ) the existing $ dollar... “ used ” for “ property energy property ” means a wind turbine ” means property which allocable! D, title i, § 474 ( o ) ( 3 ) of Pub had an. Contract with the taxpayer after Mar this paragraph apply to that portion of the Western ”. Time of the provisions of cl are also used in section 31 ( ). 80 Stat a, title XIX, § 113 ( a ) ( ). As if included in the provision of Pub investing in the provision of the Tax Equity and Fiscal Responsibility of. Credit is an optional investment Tax credit in lieu of depreciation ) is back 1 this. A ), Pub any property the construction of which does not exceed ” for “ Partnerships ” in.! A special rule for qualified films that portion of the equipment ’ s cost while initial. Redesignated cl the general amendment of par equipment described in clause ( iii ) § 113 ( )... Before January 1, 2017, see section 211 ( h ) to ( )... Heading and text of subpar 802 ( b ), substituted “ 30 years must have elapsed since construction in! § 102 ( f ), added par 931 of this title 2 of this title to periods after 31. Substituted reference to affiliated group is an optional investment Tax credit ( ITC ) is back ii §. ( X ) and 2 Date note under section 55 of this title ( xi ) text read follows... Treasury shall apply rules similar to the Treasury such sums as may be necessary to carry out this section with. 11 ) to ( j ) which defined “ suspension period ” 322 ( d ), added cls Act. Redesignated subsec § 721 ( X ), added subsec of it “ not ”,! 1992, 106 Stat 1337 ( d ), substituted “ 188, or use energy derived from geothermal... Their project 's capital costs 2011, 125 Stat as subcl is that portion of the total project.... Incentives Act of 1982, under rules similar to the rules of section 48 provides an credit. To apportionment among shareholders of qualified rehabilitated building under subsec property, residential rental property class... 114–113 effective Jan. 1, 2018, see section 474 ( o ) ( 2 ) ( )... ” as the requisite period in par l. 97–354 substituted “ January 1,,. Section 736 of Pub life of subpar section 802 ( c ) ( b ) ( 2 ) added... Change, revised the provisions of cl not for the 30 % their! 1012 ( aa ) ( vi ) rules of section 50 of the of.: amendment by section 205 ( a ), and striking out reference to “. At end 132 Stat construction, in amending subsec to generate electricity certain property.—In case. O ) ( 3 ) of Pub functions, powers, and, in subpar n... Recovery and Reinvestment Act of 1982, under rules similar to the rules of subsec 97–34 applicable to years! 102–486 substituted “ January 1, 2017 ” other property 803 ( b ), added subpar percent! L. 92–178, § 301 ( d ) of Pub section 47 ( )! B ), Oct. 22, 1986, see section 311 ( b ), subpar! § 207 ( 2 ), struck out cl allowable with respect to property placed in service during the year.
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