Sec. 402. Extension of election to treat qualified facilities as energy property
163 words·~1 min read·
/bill/115/hr/3671/ih/section-402A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Clause
(ii)of section 48(a)(5)(C) is amended by inserting (January 1, 2020, in the case of any facility which is described in paragraph
(1)of section 45(d)) before , and . Paragraph
(5)of section 48(a) is amended by adding the following subparagraph: In the case of any facility using wind to produce electricity, the amount of the credit determined under this section (determined after the application of paragraphs
(1)and
(2)and without regard to this subparagraph) shall be reduced by— in the case of any facility the construction of which begins after December 31, 2016, and before January 1, 2018, 20 percent, in the case of any facility the construction of which begins after December 31, 2017, and before January 1, 2019, 40 percent, and in the case of any facility the construction of which begins after December 31, 2018, and before January 1, 2020, 60 percent. . The amendments made by this section shall take effect on January 1, 2018.