Sec. 3502. Modification of the energy investment tax credit

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Section 48(a)(3)(A)(ii) is amended by striking periods ending before January 1, 2017 and inserting property the construction of which begins before January 1, 2022 . Section 48(c)(1)(D) is amended by striking for any period after December 31, 2016 and inserting the construction of which does not begin before January 1, 2022 . Section 48(c)(2)(D) is amended by striking for any period after December 31, 2016 and inserting the construction of which does not begin before January 1, 2022 .

Section 48(c)(3)(A)(iv) is amended by striking which is placed in service before January 1, 2017 and inserting the construction of which begins before January 1, 2022 . Section 48(c)(4)(C) is amended by striking for any period after December 31, 2016 and inserting the construction of which does not begin before January 1, 2022 . Section 48(a)(3)(A)(vii) is amended by striking periods ending before January 1, 2017 and inserting property the construction of which begins before January 1, 2022 .

Section 48(a) is amended by adding at the end the following new paragraph: In the case of qualified fuel cell property or qualified small wind energy property, the construction of which begins before January 1, 2022, the energy percentage determined under paragraph

(2)shall be equal to— in the case of any property the construction of which begins after December 31, 2019, and before January 1, 2021, 26 percent, and in the case of any property the construction of which begins after December 31, 2020, and before January 1, 2022, 22 percent. In the case of any qualified fuel cell property or qualified small wind energy property, the construction of which begins before January 1, 2022, and which is not placed in service before January 1, 2024, the energy percentage determined under paragraph

(2)shall be equal to 10 percent. . Subparagraphs

(A)and

(B)of section 48(a)(6) are each amended by inserting or (3)(A)(ii) after paragraph (3)(A)(i) . Section 48(a)(3)(A)(i) is amended by inserting , the construction of which begins before January 1, 2028, and after equipment . Section 48(a)(3)(A)(iii) is amended by inserting , the construction of which begins before January 1, 2028, and after equipment . Section 48(c) is amended by adding at the end the following new paragraph: The construction of any facility, modification, improvement, addition, or other property shall not be treated as beginning before any date unless there is a continuous program of construction which begins before such date and ends on the date that such property is placed in service. . Except as otherwise provided in this subsection, the amendments made by this section shall apply to periods after December 31, 2016, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990). The amendment made by subsection

(d)shall apply to property placed in service after December 31, 2016. The amendments made by subsections (g), (h), (i), and

(j)shall take effect on the date of the enactment of this Act. The amendment made by subsection

(k)shall apply to taxable years beginning before, on, or after the date of the enactment of this Act.