Sec. 40411. Extension and phaseout of energy credit
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/bill/115/hr/1892/unknown/section-40411·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 48(a)(3)(A) is amended— by striking periods ending before January 1, 2017 in clause
(ii)and inserting property the construction of which begins before January 1, 2022 , and by striking periods ending before January 1, 2017 in clause
(vii)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: Subject to subparagraph (B), in the case of any qualified fuel cell property, qualified small wind property, or energy property described in paragraph (3)(A)(ii), 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 energy property described in subparagraph
(A)which is not placed in service before January 1, 2024, the energy percentage determined under paragraph
(2)shall be equal to 0 percent. . Section 48(a)(2)(A) is amended by striking paragraph
(6)and inserting paragraphs
(6)and
(7). Section 48(a)(5)(E) is amended by inserting which is treated as energy property by reason of this paragraph after using wind to produce electricity . 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 . 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
(e)shall apply to property placed in service after December 31, 2016. The amendments made by subsection
(b)shall take effect on the date of the enactment of this Act.