Sec. 211. Grant program to promote access to renewable energy and energy efficiency for Puerto Rico and the Virgin Islands
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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 person who places in service specified energy property in Puerto Rico or the Virgin Islands 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— in the case of specified energy property which is described in paragraph
(1)of section 45(d) or clause
(i)of section 48(a)(3)(A) of the Internal Revenue Code of 1986 (determined without regard to any date by which construction must begin), the construction of such property begins after September 20, 2017, and in the case of any other specified energy property, such property is placed in service after September 20, 2017. The amount of the grant under subsection
(a)with respect to any specified energy property shall be 30 percent of the basis of such property. In the case of property described in paragraph (1), (2), (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(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 subsequent to the date of the application for such grant. 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), (9), or
(11)of section 45(d) of such Code (determined without regard to any date by which construction must begin). Any qualified fuel cell property (as defined in section 48(c)(1) of such Code, determined without regard to any termination date). Any property described in clause
(i)or
(ii)of section 48(a)(3)(A) of such Code (determined without regard to any termination date). Any qualified small wind energy property (as defined in section 48(c)(4) of such Code, determined without regard to any termination date). 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, determined without regard to any termination date). Any combined heat and power system property (as defined in section 48(c)(3) of such Code, determined without regard to subparagraph (A)(iv) thereof). Any property described in clause
(vii)of section 48(a)(3)(A) of such Code (determined without regard to any termination date). Any property or equipment described in subsection
(c)of section 25D of such Code (determined without regard to subsection
(h)of such section). Such term shall not include any property unless depreciation (or amortization in lieu of depreciation) is allowable (or would be allowable if section 933 of the Internal Revenue Code of 1986 were not taken into account) with respect to such property. For purposes of this section, the term eligible person means— any individual that is a bona fide resident (as defined under section 937 of the Internal Revenue Code of 1986) of Puerto Rico or the Virgin Islands, and any corporation which is organized under the laws of Puerto Rico or the Virgin Islands. 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. 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, except that in applying subsection (b)(1) thereof Puerto Rico or the Virgin Islands shall be substituted for United States . 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 fiscal year 2018, there is hereby appropriated to the Secretary of the Treasury— for providing grants for specified energy property placed in service in Puerto Rico, $270,000,000, and for providing grants for specified energy property placed in service in the Virgin Islands, $20,000,000, to remain available until expended.