Sec. 3501. Modifications to credit for electricity produced from certain renewable resources
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Section 45(b)(2) is amended— by striking The 1.5 cent amount and inserting the following: The 1.5 cent amount , and by adding at the end the following new subparagraph: Subparagraph
(A)shall not apply with respect to any electricity or refined coal produced at a facility the construction of which begins after the date of the enactment of this subparagraph. . Section 45(e) is amended by adding at the end the following new paragraph: For purposes of subsection (d), 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. . The amendments made by subsection
(a)shall apply to taxable years ending after the date of the enactment of this Act. The amendment made by subsection
(b)shall apply to taxable years beginning before, on, or after the date of the enactment of this Act.