Sec. 9. Infrastructure Bank Holding Company credit
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Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended— by adding at the end the following new section: For purposes of section 38, in the case of a taxpayer who holds a qualified Holding Company equity investment on a credit allowance date of such investment which occurs during the taxable year, the Infrastructure Bank Holding Company credit determined under this section for such taxable year is an amount equal to 10 percent of the amount paid to the Holding Company for such investment at its original issue.
For purposes of this section, the credit allowance date with respect to any qualified Holding Company equity investment is— the date on which such investment is initially made; and each of the 4 anniversary dates of such date thereafter. For purposes of this section, the term qualified Holding Company equity investment means any equity investment originally issued by the Holding Company to the taxpayer under section 5(a)(1) of the Infrastructure Bank for America Act of 2020 not later than 3 years after the date of the enactment of such Act.
For purposes of this section, the term Holding Company means the Infrastructure Bank Holding Company established by the Infrastructure Bank for America Act of 2020. The basis of any qualified Holding Company equity investment shall be reduced by the amount of any credit determined under this section with respect to such investment. ; and in the table of contents for such subpart, by adding at the end the following: 45U. Infrastructure Bank Holding Company credit. . Section 38(b) of such Code is amended by striking plus at the end of paragraph (32), by striking the period at the end of paragraph
(33)and inserting , plus , and by adding at the end the following new paragraph: the Infrastructure Bank Holding Company credit determined under section 45U. . Section 1016(a) of such Code is amended by striking and at the end of paragraph (37), by striking the period at the end of paragraph
(38)and inserting , and , and by adding at the end the following new paragraph: to the extent provided in section 45U(e). . The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act.