Sec. 324. Promoting access to renewable energy and energy efficiency for tax-exempt organizations
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Upon application, the Secretary of the Treasury shall, subject to the requirements of this section, provide a grant to each eligible entity who places in service specified energy property to reimburse such person for a portion of the expense of such property as provided in subsection (b). No grant shall be made under this section with respect to any property unless such property is placed in service after 2016. The amount of the grant under subsection
(a)with respect to any specified energy property shall be the applicable percentage of the basis of such property. For purposes of paragraph (1), the term applicable percentage means— 30 percent in the case of any property described in paragraphs
(1)through
(4)of subsection (d), and 10 percent in the case of any other property. In the case of property described in paragraph (1), (2), (3), (6), or
(7)of subsection (d), the amount of any grant under this section with respect to such property shall not exceed the limitation described in section 48(a)(5)(E), 48(a)(6), 48(c)(1)(B), 48(c)(2)(B), or 48(c)(3)(B) of the Internal Revenue Code of 1986, respectively, with respect to such property. The Secretary of the Treasury shall make payment of any grant under subsection
(a)during the 60-day period beginning on the later of— the date of the application for such grant, or the date the specified energy property for which the grant is being made is placed in service. For purposes of this section, the term specified energy property means any of the following: Any qualified property (as defined in section 48(a)(5)(D) of the Internal Revenue Code of 1986) which is part of a qualified facility (within the meaning of section 45 of such Code) described in paragraph (1), (4), (6), (7), (9), or
(11)of section 45(d) of such Code. Any qualified fuel cell property (as defined in section 48(c)(1) of such Code). Any property described in clause
(i)or
(ii)of section 48(a)(3)(A) of such Code. Any qualified small wind energy property (as defined in section 48(c)(4) of such Code). Any property described in clause
(iii)of section 48(a)(3)(A) of such Code. Any qualified microturbine property (as defined in section 48(c)(2) of such Code). Any combined heat and power system property (as defined in section 48(c)(3) of such Code). Any property described in clause
(vii)of section 48(a)(3)(A) of such Code. Such term shall not include any property unless depreciation (or amortization in lieu of depreciation) is allowable with respect to such property. In making grants under this section, the Secretary of the Treasury shall apply rules similar to the rules of section 50 of the Internal Revenue Code of 1986 (other than subsection (b)(3) thereof). In applying such rules, if the property is disposed of, or otherwise ceases to be specified energy property, the Secretary of the Treasury shall provide for the recapture of the appropriate percentage of the grant amount in such manner as the Secretary of the Treasury determines appropriate. For purposes of this section, the term eligible entity means any organization described in section 501(c) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code. Terms used in this section which are also used in section 45 or 48 of the Internal Revenue Code of 1986 shall have the same meaning for purposes of this section as when used in such section 45 or 48. Any reference in this section to the Secretary of the Treasury shall be treated as including the Secretary's delegate. There is hereby appropriated to the Secretary of the Treasury such sums as may be necessary to carry out this section.