1.Short
title; table of contents
(a)This Act may be cited
as the Energy Assistance Act of
2008
.
(b)The table of contents of this Act is as follows:
Sec. 1. Short title; table of
contents.
TITLE I—Energy assistance
Sec. 101. Weatherization assistance.
Sec. 102. Energy Assistance
Fund.
TITLE II—Tax provisions
Sec. 200. Reference.
Subtitle A—Clean stoves
Sec. 201. Credit for replacement of wood-burning stoves meeting
environmental standards.
Subtitle B—Renewable energy incentives
Sec. 211. Renewable energy credit.
Sec. 212. Production credit for electricity produced from
marine renewables.
Sec. 213. Energy credit.
Sec. 214. Credit for residential energy efficient
property.
Sec. 215. Special rule to implement FERC and State electric
restructuring policy.
Sec. 216. New clean renewable energy bonds.
Subtitle C—Carbon mitigation provisions
Sec. 221. Expansion and modification of advanced coal project
investment credit.
Sec. 222. Expansion and modification of coal gasification
investment credit.
Sec. 223. Temporary increase in coal excise tax.
Sec. 224. Special rules for refund of the coal excise tax to
certain coal producers and exporters.
Sec. 225. Carbon audit of the tax code.
Subtitle D—Transportation and domestic fuel security
provisions
Sec. 231. Inclusion of cellulosic biofuel in bonus depreciation
for biomass ethanol plant property.
Sec. 232. Credits for biodiesel and renewable
diesel.
Sec. 233. Clarification that credits for fuel are designed to
provide an incentive for United States production.
Sec. 234. Credit for new qualified plug-in electric drive motor
vehicles.
Sec. 235. Exclusion from heavy truck tax for idling reduction
units and advanced insulation.
Sec. 236. Transportation fringe benefit to bicycle
commuters.
Sec. 237. Alternative fuel vehicle refueling property
credit.
Subtitle E—Energy conservation and efficiency
provisions
Sec. 241. Qualified energy conservation bonds.
Sec. 242. Credit for nonbusiness energy property.
Sec. 243. Energy efficient commercial buildings
deduction.
Sec. 244. Modifications of energy efficient appliance credit
for appliances produced after 2007.
Sec. 245. Accelerated recovery period for depreciation of smart
meters and smart grid systems.
Sec. 246. Qualified green building and sustainable design
projects.
<enum>I</enum><header>Energy
assistance</header>
<section id="idCEC930BAF8E34548B6E890C468A25751"><enum>101.</enum><header>Weatherization
assistance</header><text display-inline="no-display-inline">Section 422 of the
Energy Conservation and Production Act (42 U.S.C. 6872) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="idE75BB3D85D9B4570B419667A4956C801" style="OLC">
<section id="id0750402F6D5347FBBB5043C235953495"><enum>422.</enum><header>Authorization
of appropriations</header><text display-inline="no-display-inline">There are
authorized to be appropriated to carry out the weatherization program under
this part—</text>
<paragraph id="ID8abd4631b42341e9a3433d3e71fdb1ef"><enum>(1)</enum><text>$1,800,000,000
for fiscal year 2009;</text>
</paragraph><paragraph id="IDe2411309a2af42e2a51020165fb0038a"><enum>(2)</enum><text>$2,100,000,000
for fiscal year 2010; and</text>
</paragraph><paragraph id="IDbad8e11713b049ddb728199974069d66"><enum>(3)</enum><text>$2,400,000,000
for fiscal year
2011.</text>
</paragraph></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="s1"><enum>102.</enum><header>Energy Assistance Fund</header>
<subsection id="id7AAF61D8DAEC457E9491ADEF3308137F"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="idA3EFF39435424F6AB2123C28D4ABF243"><enum>(1)</enum><header>Fund</header><text>The
term <quote>Fund</quote> means the Energy Assistance Fund established under
subsection (b).</text>
</paragraph><paragraph id="idBAA1267DA4E041238225ECF2708CD591"><enum>(2)</enum><header>Secretary
concerned</header><text>The term <term>Secretary concerned</term> means, with
respect to programs carried out by each Secretary—</text>
<subparagraph id="id02490EEF24014E8F879A96D83B0F9D4E"><enum>(A)</enum><text>the Secretary of
Agriculture;</text>
</subparagraph><subparagraph id="idBDAF281FB21549BD83B75D3C946AB5E2"><enum>(B)</enum><text>the Secretary of
Energy;</text>
</subparagraph><subparagraph id="idBCB8C71C2FE947B7A10DAE2D1F711DB7"><enum>(C)</enum><text>the Secretary of
Housing and Urban Development;</text>
</subparagraph><subparagraph id="idEA6206FAF38142CBA83C401852F7A37A"><enum>(D)</enum><text>the Secretary of
Transportation; and</text>
</subparagraph><subparagraph id="id7B60D4605D2B48B8B2E2D80D2C7E8E03"><enum>(E)</enum><text>the Administrator
of the Small Business Administration.</text>
</subparagraph></paragraph></subsection><subsection id="IDB87E6EB3E15A423C9459B522069F2D1F"><enum>(b)</enum><header>Establishment</header><text>There
is established in the Treasury of the United States a revolving fund, to be
known as the <quote>Energy Assistance Fund</quote>, consisting of such amounts
as are appropriated to the Fund under subsection (h)(1).</text>
</subsection><subsection id="ID72CBA45BD1F440E4B3F4FD55F33AAC30"><enum>(c)</enum><header>Expenditures
from Fund</header>
<paragraph id="ID1475BB464CDB4E84B16FFDF76CB44B9B"><enum>(1)</enum><header>In
general</header><text>Subject to paragraph (2), on request by the Secretary
concerned, the Secretary of the Treasury shall transfer from the Fund to the
Secretary concerned such amounts as the Secretary concerned determines are
necessary to provide to carry out 1 or more qualified purposes described in
subsections (d), (e) and (f).</text>
</paragraph><paragraph id="ID9724CABDFFA844AE9AEFD47A75CBECA6"><enum>(2)</enum><header>Administrative
expenses</header><text>An amount not exceeding 10 percent of the amounts in the
Fund shall be available for each fiscal year to pay the administrative expenses
necessary to carry out this section.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id86E7FD02FF25474BBF3DFC221D9008C7"><enum>(d)</enum><header>Low-interest
loans for purchase and installation of qualifying energy efficient
property</header>
<paragraph commented="no" display-inline="no-display-inline" id="id270050B2A0D4431AB5149B04D96EB6E3"><enum>(1)</enum><header display-inline="yes-display-inline">In general</header><text>To the extent that
the Secretary concerned has authority under other law to make loans or grants
to persons to purchase and install qualifying property, the Secretary concerned
may make available to eligible United States persons loans under this
subsection for the purchase and installation of qualifying property.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id31101628DE454468A304005C279C683F"><enum>(2)</enum><header>Qualifying
property</header><text>For the purpose of paragraph (1), qualifying property
means—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id452E95D0EEFA4301AA5F354169B0BE96"><enum>(A)</enum><text>any component
which constitutes a qualified energy efficiency improvement (as defined in
section 25C(c) of the Internal Revenue Code of 1986);</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id9DBE3EB201A142338D38C82C6F8888BB"><enum>(B)</enum><text>property to heat
water for use in a dwelling unit located in the United States and used a
residence by the person if at least half of the energy used by such property
for such purpose is derived from the sun;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id46921D3FE37746A5AF0EF455B014B478"><enum>(C)</enum><text>property which
uses solar energy to generate electricity for use in a dwelling unit located in
the United States and used by the person (in the case of an individual) as a
residence;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idBFD664ABF86049C884F189BD94306955"><enum>(D)</enum><text>qualified fuel
cell property (as defined in section 48(c)(1) of that Code) installed on or in
connection with a dwelling unit located in the United States and used as a
principal residence (within the meaning of section 121 of that Code) by the
person (in the case of an individual); or</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idAA9DC5FF8C2B45F78BFBE83703FD7C63"><enum>(E)</enum><text>a compliant stove
(as defined in section 25E(c)(2) of that Code) which—</text>
<clause commented="no" display-inline="no-display-inline" id="idE3C3F97DB16C4CF5A066093480519861"><enum>(i)</enum><text>is installed in a
dwelling unit located in the United States; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idC8F60A6707764069A6592BFBB24A1D28"><enum>(ii)</enum><text>replaces a
noncompliant stove (as defined in section 25E(c)(3) of that Code) used in such
dwelling unit.</text>
</clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="idBB2157C5C3DB44CC9CEBED89F3DA6871"><enum>(3)</enum><header>Eligibility</header><text>To
be eligible to receive a loan under this subsection, a person that is an
individual shall have a household income of not to exceed 115 percent of the
area median household income, as determined by the Secretary concerned.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idA51951F0545A490B88DFBBA46D1965E4"><enum>(4)</enum><header>Use of
loan</header><text>The recipient of a loan under this subsection may use the
loan only to fund improvements to property owned by, and for the benefit of,
the recipient.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id2850D51A9DC44D7F8655425ABDFA5896"><enum>(5)</enum><header>Amount</header><text>The
amount of a loan made to a person under this subsection shall equal the lesser
of—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id3AD5E983E0FF4E84A31E24B2DFB27664"><enum>(A)</enum><text>90 percent of the
difference between—</text>
<clause commented="no" display-inline="no-display-inline" id="idBE807A9D59624D639D858D4DDFB49AD1"><enum>(i)</enum><text>the cost incurred
by the person for the purchase and installation of the qualifying property, as
approved by the Secretary; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idAD204689A48441D3B7E33F893D43044A"><enum>(ii)</enum><text>the amount of
any credit allowable to the person with respect to such property under section
25C, 25D, or 25E, of the Internal Revenue Code of 1986; or</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idB5167781582045AAA360D587C7BC5377"><enum>(B)</enum><text>$30,000.</text>
</subparagraph></paragraph><paragraph id="idA0633440B6A74A10834120E6CDC00AD0"><enum>(6)</enum><header>Term of
loans</header><text>A loan under this subsection shall have a term of not to
exceed 15 years.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id3E68082C3F2B4B70AA6BFB7332CF4205"><enum>(e)</enum><header display-inline="yes-display-inline">Low-interest loans for purchase and
installation of idling reduction and advanced insulation for heavy
trucks</header>
<paragraph commented="no" display-inline="no-display-inline" id="id650F87C994AA42DF86D701943E6741F1"><enum>(1)</enum><header display-inline="yes-display-inline">In general</header><text>To the extent that
the Secretary concerned has authority under other law to make loans or grants
to persons to purchase and install idling reduction devices described in
section 4053(9) of the Internal Revenue Code of 1986 or advanced insulation
described in section 4053(10) of such Code, the Secretary concerned may make
available loans under this subsection to United States persons for the purchase
and installation of such idling reduction devices and advanced
insulation.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idBA88D89A822641EFB6A5568F8C7EB33E"><enum>(2)</enum><header>Use of
loan</header><text>The recipient of a loan under this subsection may use the
loan only to fund improvements to property owned by, and for the benefit of,
the recipient.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id6D26F52B12234702AC5A2AF90868733B"><enum>(3)</enum><header>Amount</header>
<subparagraph commented="no" display-inline="no-display-inline" id="idB232ACEB767C4706BBDD59891A7EC654"><enum>(A)</enum><header>In
general</header><text>The amount of a loan made to a person under this
subsection shall equal 90 percent of the difference between—</text>
<clause commented="no" display-inline="no-display-inline" id="id63391FEF58084AEDB18F520AB20B4A50"><enum>(i)</enum><text>the cost incurred
by the person for the purchase and installation of the idling reduction devices
and advanced insulation described in subsection (a), as approved by the
Secretary concerned; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idDF7F0D5AFCFB492FBB339899DB6D921A"><enum>(ii)</enum><text>12 percent of
the amount for which the idling reduction devices or advanced insulation was
sold.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idCB6A2DEA78CA439EB2C93B25AD3D3CFF"><enum>(B)</enum><header>Special
rules</header><text>In the case of any property described in paragraphs (2),
(3), or (4) of section 4051(a) of the Internal Revenue Code of 1986, the amount
determined under subparagraph (A) shall be zero.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idFBF642367D0A44B78B56867DBD03927C"><enum>(C)</enum><header>Determination
of price</header><text>Rules similar to the rules of section 4052(b) of the
Internal Revenue Code of 1986 shall apply for purposes of subparagraph
(B).</text>
</subparagraph></paragraph><paragraph id="id3EE6CA34B1454F13AC789411077ECA31"><enum>(4)</enum><header>Loan
terms</header><text>The Secretary concerned shall establish terms for loans
made under this subsection, as determined by the Secretary concerned.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="idB83CE6B677984677999786C7193E801A"><enum>(f)</enum><header display-inline="yes-display-inline">Low-interest loans for purchase and
installation of alternative refueling stations</header>
<paragraph commented="no" display-inline="no-display-inline" id="idE9F0C3B8D7834D558ADB1799C0C620B1"><enum>(1)</enum><header display-inline="yes-display-inline">In general</header><text>To the extent that
the Secretary concerned has authority under other law to make loans or grants
to persons for the purchase and installation of any qualified alternative fuel
vehicle refueling property (as defined in section 30C(c) of the Internal
Revenue Code of 1986), the Secretary concerned may make available loans under
this subsection to United States persons for the purchase and installation of
any such qualified alternative fuel vehicle refueling property placed in
service by the person during a taxable year.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id3F6E28E9314347D386C28DAEF82639E4"><enum>(2)</enum><header>Use of
loan</header><text>The recipient of a loan under this subsection may use the
loan only to fund improvements to property owned by, and for the benefit of,
the recipient.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id4F020BA7492642ADB0BA3383EB7E5B9C"><enum>(3)</enum><header>Amount</header><text>The
amount of a loan made to a person under this subsection shall equal 90 percent
of the difference between—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id3C21333CBF48427BA3848EFFBEDEE9FB"><enum>(A)</enum><text>the cost incurred
by the person for the purchase and installation of the qualified alternative
fuel vehicle refueling property described in paragraph (1), as approved by the
Secretary concerned; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id8E7E067939994927974F87000D48159C"><enum>(B)</enum><text>the amount of any
credit allowable to the person under section 30C of the Internal Revenue Code
of 1986.</text>
</subparagraph></paragraph><paragraph id="idFDFB8B812EB54E7CB98E2705C3AD37F2"><enum>(4)</enum><header>Loan
terms</header><text>The Secretary concerned shall establish terms for loans
made under this subsection, as determined by the Secretary concerned.</text>
</paragraph></subsection><subsection id="ID990781DF86FA4B5A8ADACB8C3C4C49B3"><enum>(g)</enum><header>Transfers of
amounts</header>
<paragraph id="IDEA15210E59234B4AB0176880E4E2B3F6"><enum>(1)</enum><header>In
general</header><text>The amounts required to be transferred to the Fund under
this section shall be transferred at least monthly from the general fund of the
Treasury to the Fund on the basis of estimates made by the Secretary of the
Treasury.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDCF3824F211E742E7A61FAAF06623B01E"><enum>(2)</enum><header>Adjustments</header><text>Proper
adjustment shall be made in amounts subsequently transferred to the extent
prior estimates were in excess of or less than the amounts required to be
transferred.</text>
</paragraph></subsection><subsection id="idA9D4370E59DA4D55B05F111A8BDCEFBD"><enum>(h)</enum><header>Funding</header>
<paragraph id="idE8B66FB984954BA2A9EB14A3443B1E3F"><enum>(1)</enum><header>Mandatory
funding</header>
<subparagraph id="idB23A6E735C054F3B9204016DC3C00EA1"><enum>(A)</enum><header>In
general</header><text>Notwithstanding any other provision of law, on October 1,
2008, out of any funds in the Treasury not otherwise appropriated, the
Secretary of the Treasury shall transfer to the Fund for the cost of loans to
carry out the purposes of the Fund $1,000,000,000, to remain available until
expended.</text>
</subparagraph><subparagraph id="IDDDDB9AFAA4B2435EB9C6E3EA8D700BC2"><enum>(B)</enum><header>Receipt and
acceptance</header><text>The Fund shall be entitled to receive, shall accept,
and shall use to carry out the purposes of the Fund the funds transferred under
subparagraph (A), without further appropriation.
<added-phrase reported-display-style="italic"></added-phrase></text>
</subparagraph></paragraph><paragraph id="ID75847D4BD6B24B8E83CBB81F88EF90BB"><enum>(2)</enum><header>Authorization
of appropriations</header>
<subparagraph id="id56762FEC54124938BC1CB54338CAA14C"><enum>(A)</enum><header>In
general</header><text>In addition to the amount made available under paragraph
(1), there are authorized to be appropriated to the Fund such sums as are
necessary to carry out the purposes of the Fund.</text>
</subparagraph><subparagraph id="id3690D88BC79842FCB1BD8B78EFC0D417"><enum>(B)</enum><header>Additional
funding</header><text>To the extent that a Secretary described in subsection
(a) has authority under other law to make loans or grants described in
subsection (d)(1), (e)(1), or (f)(1), in addition to any other funds made
available to carry out that authority under any other provision of law, there
are authorized to be appropriated to the Secretary such sums as are necessary
for the Secretary to provide additional loans or grants under that
authority.</text>
</subparagraph></paragraph></subsection></section><enum>II</enum><header>Tax
provisions</header>
<section id="idF49E69F412034A229E46B9E2D7B507AF"><enum>200.</enum><header>Reference</header><text display-inline="no-display-inline">Except as otherwise expressly provided,
whenever in this title an amendment or repeal is expressed in terms of an
amendment to, or repeal of, a section or other provision, the reference shall
be considered to be made to a section or other provision of the Internal
Revenue Code of 1986.</text>
</section><subtitle id="id028A0BCFC6344AA7AD318E4CB8B96C93"><enum>A</enum><header>Clean
stoves</header>
<section id="id44C96FBC6E774167A4FE313E62F80DB8"><enum>201.</enum><header>Credit for
replacement of wood-burning stoves meeting environmental standards</header>
<subsection id="id3C385B2A32B540D8AA4F3C0AA15100A1"><enum>(a)</enum><header>In
general</header><text>Subpart A of part IV of subchapter A of chapter 1
(relating to nonrefundable personal credits) is amended by inserting after
section 25D the following new section:</text>
<quoted-block act-name="" id="id2244A5441E42407F8DB8B8132A5336EB" style="OLC">
<section id="idD31C72718C6241CCBC913AD73C2B465F"><enum>25E.</enum><header>Replacement of
wood-burning stoves</header>
<subsection id="idA6D5C0F962E94FAA9C2CFF1A32ABC8F0"><enum>(a)</enum><header>Allowance of
credit</header><text>In the case of an individual, there shall be allowed as a
credit against the tax imposed by this chapter for the taxable year an amount
equal to the qualified stove replacement expenditures paid or incurred by the
taxpayer for the taxable year.</text>
</subsection><subsection id="idCB644C66C5DC42489C729EBAC4182F71"><enum>(b)</enum><header>Limitation</header><text>The
amount of the credit under subsection (a) with respect to the replacement of
each non-compliant wood stove shall not exceed $500.</text>
</subsection><subsection id="id2F7A616CADD14AF0A7733F13D712C87A"><enum>(c)</enum><header>Qualified stove
replacement expenditures</header><text>For purposes of this section—</text>
<paragraph id="id128B34D3A1B94CC9802FEAA4415E2ABE"><enum>(1)</enum><header>In
general</header><text>The term <term>qualified stove replacement
expenditures</term> means expenditures made by the taxpayer for the purchase
and installation of a compliant stove which—</text>
<subparagraph id="idD2C3672E78EE4485879AEC66AE707F4B"><enum>(A)</enum><text>is installed in a
dwelling unit located in the United States, and</text>
</subparagraph><subparagraph id="id94DE7899BA584AF88870D803EBCCA1AD"><enum>(B)</enum><text>replaces a
noncompliant wood stove used in such dwelling unit.</text>
</subparagraph><continuation-text continuation-text-level="paragraph">Such term
includes expenditures for labor costs properly allocable to the onsite
preparation, assembly, or original installation of the compliant stove.</continuation-text></paragraph><paragraph id="id8619BCA5AB124297A74CF467BDE68212"><enum>(2)</enum><header>Compliant
stove</header><text>The term <term>compliant stove</term> means—</text>
<subparagraph id="id2AF6A9F45F1242E5ABC9EED8441A428C"><enum>(A)</enum><text>a wood-burning
stove which meets the requirements set forth in the <quote>Standards of
Performance for New Residential Wood Heaters</quote> issued by the
Environmental Protection Agency, and</text>
</subparagraph><subparagraph id="idE08A0E48A48F4379A2686F9DB54D53D4"><enum>(B)</enum><text>a pellet or
corn-burning stove.</text>
</subparagraph></paragraph><paragraph id="id4A8E896710BC47A891F1CAE360BD3E25"><enum>(3)</enum><header>Noncompliant
wood stove</header><text>The term <term>noncompliant wood stove</term> means
any wood-burning stove that is not a compliant stove.</text>
</paragraph></subsection><subsection id="idA2B0D839F69E4A5EAC8988C4B86F858D"><enum>(d)</enum><header>Joint
occupancy, cooperative housing corporations, and when expenditure
made</header><text>Rules similar to the rules of paragraphs (4), (5), and (8)
of section 25D(e) shall apply for purposes of this section.</text>
</subsection><subsection id="id8918E6B8CA2E4738992A34EEEA3782AB"><enum>(e)</enum><header>Basis
adjustment</header><text>For purposes of this subtitle, if a credit is allowed
under this section for any expenditure with respect to any property, the
increase in the basis of such property which would (but for this subsection)
result from such expenditure shall be reduced by the amount of the credit so
allowed.</text>
</subsection><subsection id="idA705DE134FD74FB3933BAB7AB0D140D3"><enum>(f)</enum><header>Termination</header><text>This
section shall not apply to expenditures made after December 31,
2010.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id6A4AD48D87E5483793A37C2D2BCA70BF"><enum>(b)</enum><header>Conforming
amendments</header>
<paragraph id="id32C554D51323488EA0BCD7B6566A3A6D"><enum>(1)</enum><text>Subsection (a) of
section 1016 is amended—</text>
<subparagraph id="idC0D985793B894FDBABE000235800658C"><enum>(A)</enum><text>by striking
<quote>and</quote> at the end of paragraph (36),</text>
</subparagraph><subparagraph id="idC7C9F5B5B0BF4792805B8CA17354B535"><enum>(B)</enum><text>by striking the
period at the end of paragraph (37) and inserting <quote>, and</quote>,
and</text>
</subparagraph><subparagraph id="id7D922B3EA9F148F6BF220BBB897813E0"><enum>(C)</enum><text>by adding at the
end the following new paragraph:</text>
<quoted-block act-name="" id="id45076FA0F5D147E8A21D1523CEEA9AE3" style="OLC">
<paragraph id="id34559A05F4FB47C9A22A904F9ED7727A"><enum>(38)</enum><text>to the extent
provided in section 25E(e), in the case of amounts with respect to which a
credit has been allowed under section
25E.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="id9E4F0DA412074C31A4BF74AEE4AB8455"><enum>(2)</enum><text>The table of
sections for subpart A of part IV of subchapter A of chapter 1 is amended by
inserting after the item relating to section 25D the following new item:</text>
<toc>
<toc-entry bold="off" level="section"><quote>Sec. 25E. Replacement of
wood-burning stoves.</quote>.</toc-entry>
</toc>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id1E041BD98D9C46DEB690DD41A9AA39DA"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
expenditures for stoves purchased after the date of the enactment of this
Act.</text>
</subsection></section></subtitle><subtitle id="H227B3F5A082B4A329FF074AD4C8C9FA7"><enum>B</enum><header>Renewable energy
incentives</header>
<section id="H9FAC906BFDA94EACA54956642D001D00"><enum>211.</enum><header>Renewable
energy credit</header>
<subsection id="H60199794A5ED44AC90BFC8959D6B7C46"><enum>(a)</enum><header>Extension of
credit</header>
<paragraph id="H072CB6DEB58F4FD5B59C9CBAF4ACF586"><enum>(1)</enum><header>1-year extension
for wind facilities</header><text>Paragraph (1) of section 45(d) is amended by
striking <quote>January 1, 2009</quote> and inserting <quote>January 1,
2010</quote>.</text>
</paragraph><paragraph id="HC34633285F96487CA98F8454FFDF58EB"><enum>(2)</enum><header>3-year extension
for certain other facilities</header><text>Each of the following provisions of
section 45(d) is amended by striking <quote>January 1, 2009</quote> and
inserting <quote>January 1, 2012</quote>:</text>
<subparagraph id="H65868BCD719446829283A0A76500F600"><enum>(A)</enum><text>Clauses (i) and
(ii) of paragraph (2)(A).</text>
</subparagraph><subparagraph id="H07262F9457EA434F9319FF7FF89E1833"><enum>(B)</enum><text>Clauses (i)(I) and
(ii) of paragraph (3)(A).</text>
</subparagraph><subparagraph id="H2D1266268FBF46F9A23D54424C321D23"><enum>(C)</enum><text>Paragraph
(4).</text>
</subparagraph><subparagraph id="H23E291F2932D4F7E8C656BD6FAB98864"><enum>(D)</enum><text>Paragraph
(5).</text>
</subparagraph><subparagraph id="H5578BA0E2F74442997E3BFF1BDFC90D3"><enum>(E)</enum><text>Paragraph
(6).</text>
</subparagraph><subparagraph id="HCF65868440A144CDB0A3C8D7F01264E"><enum>(F)</enum><text>Paragraph
(7).</text>
</subparagraph><subparagraph id="H07071D3A9C614E278CAE27E8D700382D"><enum>(G)</enum><text>Subparagraphs (A)
and (B) of paragraph (9).</text>
</subparagraph></paragraph></subsection><subsection display-inline="no-display-inline" id="HF9E75D44AA4D491FA300ED47867FF915"><enum>(b)</enum><header>Modification of
Credit Phaseout</header>
<paragraph id="H8D1F4C3A9C984D0FA66C3EAB1FEE87BE"><enum>(1)</enum><header>Repeal of
phaseout</header><text>Subsection (b) of section 45 is amended—</text>
<subparagraph id="H05FDC013A91B4E04BB07AA9800996800"><enum>(A)</enum><text>by striking
paragraph (1), and</text>
</subparagraph><subparagraph id="H3761326851CE4484B16206FAC91627F"><enum>(B)</enum><text>by striking
<quote>the 8 cent amount in paragraph (1),</quote> in paragraph (2)
thereof.</text>
</subparagraph></paragraph><paragraph id="H9A468D122EA940A3ADF9AF4DFE73C996"><enum>(2)</enum><header>Limitation based
on investment in facility</header><text>Subsection (b) of section 45 is amended
by inserting before paragraph (2) the following new paragraph:</text>
<quoted-block id="H0D95A551B1E444B88729B92650714140" style="OLC">
<paragraph id="HCAA7C45C30194A92A4CDA05FC009403"><enum>(1)</enum><header>Limitation based
on investment in facility</header>
<subparagraph id="H28309F1E6173411486E255C939CEDBEC"><enum>(A)</enum><header>In
general</header><text>In the case of any qualified facility originally placed
in service after December 31, 2009, the amount of the credit determined under
subsection (a) for any taxable year with respect to electricity produced at
such facility shall not exceed the product of—</text>
<clause id="H3289E84F2EBB4D25BE387DDAB36856D7"><enum>(i)</enum><text>the applicable
percentage with respect to such facility, multiplied by</text>
</clause><clause id="H4AF894B687C2452698F4D0C755DECFE"><enum>(ii)</enum><text>the eligible basis
of such facility.</text>
</clause></subparagraph><subparagraph id="H3F2451DBB0CA42758D5982898C95E248"><enum>(B)</enum><header>Carryforward of
unused limitation and excess credit</header>
<clause id="H832CADAD2B10480B9F55D2615EE8853"><enum>(i)</enum><header>Unused
limitation</header><text>If the limitation imposed under subparagraph (A) with
respect to any facility for any taxable year exceeds the prelimitation credit
for such facility for such taxable year, the limitation imposed under
subparagraph (A) with respect to such facility for the succeeding taxable year
shall be increased by the amount of such excess.</text>
</clause><clause id="H43DFD4CFFD674297BF60985800907ECA"><enum>(ii)</enum><header>Excess
credit</header><text>If the prelimitation credit with respect to any facility
for any taxable year exceeds the limitation imposed under subparagraph (A) with
respect to such facility for such taxable year, the credit determined under
subsection (a) with respect to such facility for the succeeding taxable year
(determined before the application of subparagraph (A) for such succeeding
taxable year) shall be increased by the amount of such excess. With respect to
any facility, no amount may be carried forward under this clause to any taxable
year beginning after the 10-year period described in subsection (a)(2)(A)(ii)
with respect to such facility.</text>
</clause><clause id="HFAF656458EBC4A0A94D02F7D00394CD4"><enum>(iii)</enum><header>Prelimitation
credit</header><text>The term <quote>prelimitation credit</quote> with respect
to any facility for a taxable year means the credit determined under subsection
(a) with respect to such facility for such taxable year, determined without
regard to subparagraph (A) and after taking into account any increase for such
taxable year under clause (ii).</text>
</clause></subparagraph><subparagraph id="HDDDC48F3A930436BB5C2DC85D004AD38"><enum>(C)</enum><header>Applicable
percentage</header><text>For purposes of this paragraph—</text>
<clause id="H00FC8F0C0D994BA3ADC1F3DE9D444648"><enum>(i)</enum><header>In
general</header><text>The term <quote>applicable percentage</quote> means, with
respect to any facility, the appropriate percentage prescribed by the Secretary
for the month in which such facility is originally placed in service.</text>
</clause><clause id="H938ED883588146580085C80981EC105D"><enum>(ii)</enum><header>Method of
prescribing applicable percentages</header><text>The applicable percentages
prescribed by the Secretary for any month under clause (i) shall be percentages
which yield over a 10-year period amounts of limitation under subparagraph (A)
which have a present value equal to 35 percent of the eligible basis of the
facility.</text>
</clause><clause id="HE07BB388B60C4287AA2B27FCA6C8AEDA"><enum>(iii)</enum><header>Method of
discounting</header><text>The present value under clause (ii) shall be
determined—</text>
<subclause id="H098511FD9FF04B14AE4D58FC37FA812D"><enum>(I)</enum><text>as of the last day
of the 1st year of the 10-year period referred to in clause (ii),</text>
</subclause><subclause id="H4E598C83B432446DB5A5422FC6DDE2A3"><enum>(II)</enum><text>by using a
discount rate equal to the greater of 110 percent of the Federal long-term rate
as in effect under section 1274(d) for the month preceding the month for which
the applicable percentage is being prescribed, or 4.5 percent, and</text>
</subclause><subclause id="H5F41DE17B3B742E7A07708CA5C2B60E8"><enum>(III)</enum><text>by taking into
account the limitation under subparagraph (A) for any year on the last day of
such year.</text>
</subclause></clause></subparagraph><subparagraph id="HF200C72D142B407CB59887513EEBBBD4"><enum>(D)</enum><header>Eligible
basis</header><text>For purposes of this paragraph—</text>
<clause id="H48057D93652D49C7A4E7CC45A4C0691B"><enum>(i)</enum><header>In
general</header><text>The term <quote>eligible basis</quote> means, with
respect to any facility, the sum of—</text>
<subclause id="H59E6AAA809AD4BD28000BDF2DAB5E4B8"><enum>(I)</enum><text>the basis of such
facility determined as of the time that such facility is originally placed in
service, and</text>
</subclause><subclause id="H491BCF0DBEB84F4E8E799B48062B1757"><enum>(II)</enum><text>the portion of
the basis of any shared qualified property which is properly allocable to such
facility under clause (ii).</text>
</subclause></clause><clause id="H8571CBCEE14443448748AEF87EAE041E"><enum>(ii)</enum><header>Rules for
allocation</header><text>For purposes of subclause (II) of clause (i), the
basis of shared qualified property shall be allocated among all qualified
facilities which are projected to be placed in service and which require
utilization of such property in proportion to projected generation from such
facilities.</text>
</clause><clause id="HA28827DF8F8E4A09B2025B4B0059CFAA"><enum>(iii)</enum><header>Shared
qualified property</header><text>For purposes of this paragraph, the term
<quote>shared qualified property</quote> means, with respect to any facility,
any property described in section 168(e)(3)(B)(vi)—</text>
<subclause id="H78871E5F28DC403EBBC32B7BF1AAF468"><enum>(I)</enum><text>which a qualified
facility will require for utilization of such facility, and</text>
</subclause><subclause id="H426476B1A2AD4C8B9F54111E9300A026"><enum>(II)</enum><text>which is not a
qualified facility.</text>
</subclause></clause><clause id="H4473E9DA0CA345BAAE5268E9C439F9C8"><enum>(iv)</enum><header>Special rule
relating to geothermal facilities</header><text>In the case of any qualified
facility using geothermal energy to produce electricity, the basis of such
facility for purposes of this paragraph shall be determined as though
intangible drilling and development costs described in section 263(c) were
capitalized rather than expensed.</text>
</clause></subparagraph><subparagraph id="H4BE05E99774348D8A5AF92BBBF0009B2"><enum>(E)</enum><header>Special rule for
first and last year of credit period</header><text>In the case of any taxable
year any portion of which is not within the 10-year period described in
subsection (a)(2)(A)(ii) with respect to any facility, the amount of the
limitation under subparagraph (A) with respect to such facility shall be
reduced by an amount which bears the same ratio to the amount of such
limitation (determined without regard to this subparagraph) as such portion of
the taxable year which is not within such period bears to the entire taxable
year.</text>
</subparagraph><subparagraph id="HCC3DA134F0C74A6A8FD2E6DE6F7279F1"><enum>(F)</enum><header>Election to
treat all facilities placed in service in a year as 1 facility</header><text>At
the election of the taxpayer, all qualified facilities which are part of the
same project and which are placed in service during the same calendar year
shall be treated for purposes of this section as 1 facility which is placed in
service at the mid-point of such year or the first day of the following
calendar
year.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H34794F7B56E5418B94CCB6B49FB7DBD"><enum>(c)</enum><header>Trash facility
clarification</header><text>Paragraph (7) of section 45(d) is amended—</text>
<paragraph id="H4E7E893B1D7B4FFAA41063D12245F9BD"><enum>(1)</enum><text>by striking
<quote>facility which burns</quote> and inserting <quote>facility (other than a
facility described in paragraph (6)) which uses</quote>, and</text>
</paragraph><paragraph id="H8B7084AD30684BF4B7F5FD874987EB00"><enum>(2)</enum><text>by striking
<quote><header-in-text level="paragraph" style="OLC">combustion</header-in-text></quote>.</text>
</paragraph></subsection><subsection id="H70E162CC85BC4ED3B840904EBCD05257"><enum>(d)</enum><header>Expansion of
biomass facilities</header>
<paragraph id="HDCF05C5740D94BB9B83E38ED8F8DD2E8"><enum>(1)</enum><header>Open-loop
biomass facilities</header><text>Paragraph (3) of section 45(d) is amended by
redesignating subparagraph (B) as subparagraph (C) and by inserting after
subparagraph (A) the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H1D29EEDE4A57449400D0CCE3F850AF00" style="OLC">
<subparagraph id="H184DCA100941430DA9D57D8EEC5D0236"><enum>(B)</enum><header>Expansion of
facility</header><text display-inline="yes-display-inline">Such term shall
include a new unit placed in service after the date of the enactment of this
subparagraph in connection with a facility described in subparagraph (A), but
only to the extent of the increased amount of electricity produced at the
facility by reason of such new
unit.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HFBB344FE28F044609C29644BCF00EF09"><enum>(2)</enum><header>Closed-loop
biomass facilities</header><text>Paragraph (2) of section 45(d) is amended by
redesignating subparagraph (B) as subparagraph (C) and inserting after
subparagraph (A) the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="HA814328FA1D5454281144BDEC008173" style="OLC">
<subparagraph id="HAA5F88E8962D4AA6AB83913E11F4513B"><enum>(B)</enum><header>Expansion of
facility</header><text display-inline="yes-display-inline">Such term shall
include a new unit placed in service after the date of the enactment of this
subparagraph in connection with a facility described in subparagraph (A)(i),
but only to the extent of the increased amount of electricity produced at the
facility by reason of such new
unit.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" id="H89FCA9F0CC864D21BEB6DABB84E487CE"><enum>(e)</enum><header>Sales of net
electricity to regulated public utilities treated as sales to unrelated
persons</header><text>Paragraph (4) of section 45(e) is amended by adding at
the end the following new sentence: <quote>The net amount of electricity sold
by any taxpayer to a regulated public utility (as defined in section
7701(a)(33)) shall be treated as sold to an unrelated person.</quote>.</text>
</subsection><subsection id="H873FD2DB1D094A0F9FA0D428001FDBA"><enum>(f)</enum><header>Modification of
rules for hydropower production</header><text>Subparagraph (C) of section
45(c)(8) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H913573B4D5F341D1BEEFD768481297C" style="OLC">
<subparagraph id="H56B9A2B460A54FB294D52BAEE76991C0"><enum>(C)</enum><header>Nonhydroelectric
dam</header><text display-inline="yes-display-inline">For purposes of
subparagraph (A), a facility is described in this subparagraph if—</text>
<clause id="H1E69A39A40A3496D98CBA43463991EF1"><enum>(i)</enum><text>the hydroelectric
project installed on the nonhydroelectric dam is licensed by the Federal Energy
Regulatory Commission and meets all other applicable environmental, licensing,
and regulatory requirements,</text>
</clause><clause id="H91022BFFE404442282F88537FF4CFA2E"><enum>(ii)</enum><text>the
nonhydroelectric dam was placed in service before the date of the enactment of
this paragraph and operated for flood control, navigation, or water supply
purposes and did not produce hydroelectric power on the date of the enactment
of this paragraph, and</text>
</clause><clause id="H7CA1DB9FE3E94BC39661118F6BA9C8A7"><enum>(iii)</enum><text>the
hydroelectric project is operated so that the water surface elevation at any
given location and time that would have occurred in the absence of the
hydroelectric project is maintained, subject to any license requirements
imposed under applicable law that change the water surface elevation for the
purpose of improving environmental quality of the affected waterway.</text>
</clause><continuation-text continuation-text-level="subparagraph">The
Secretary, in consultation with the Federal Energy Regulatory Commission, shall
certify if a hydroelectric project licensed at a nonhydroelectric dam meets the
criteria in clause (iii). Nothing in this section shall affect the standards
under which the Federal Energy Regulatory Commission issues licenses for and
regulates hydropower projects under part I of the Federal Power
Act.</continuation-text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H18231907CB4C4A0681EC200028F2EFB6"><enum>(g)</enum><header>Effective
date</header>
<paragraph id="HB1E48F15F42C43E5B3267FF5625494FD"><enum>(1)</enum><header>In
general</header><text>Except as otherwise provided in this subsection, the
amendments made by this section shall apply to property originally placed in
service after December 31, 2008.</text>
</paragraph><paragraph id="HA16EB775B38F456A8856FC938809E7E4"><enum>(2)</enum><header>Repeal of credit
phaseout</header><text>The amendments made by subsection (b)(1) shall apply to
taxable years ending after December 31, 2008.</text>
</paragraph><paragraph id="H7A6887F52E58485CA518760085B3DB68"><enum>(3)</enum><header>Limitation based
on investment in facility</header><text>The amendment made by subsection (b)(2)
shall apply to property originally placed in service after December 31,
2009.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H1D4DD5FC3F684C779D39011EF7F2B11"><enum>(4)</enum><header>Trash facility
clarification; sales to related regulated public utilities</header><text>The
amendments made by subsections (c) and (e) shall apply to electricity produced
and sold after the date of the enactment of this Act.</text>
</paragraph><paragraph id="H97450CA9071640E0936D5B44903E8B7C"><enum>(5)</enum><header>Expansion of
biomass facilities</header><text>The amendments made by subsection (d) shall
apply to property placed in service after the date of the enactment of this
Act.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="H0114C8F49D044243BCE46F84970087E2" section-type="subsequent-section"><enum>212.</enum><header>Production credit
for electricity produced from marine renewables</header>
<subsection id="HABA000F32B1B45C0BC0745FB2476FD45"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 45(c) is amended by striking
<quote>and</quote> at the end of subparagraph (G), by striking the period at
the end of subparagraph (H) and inserting <quote>, and</quote>, and by adding
at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H620BA7E517CA45429485ADA3BF7B7C73" style="OLC">
<subparagraph id="H1D58B25270B24DF58B5D7E7D5785DF23"><enum>(I)</enum><text display-inline="yes-display-inline">marine and hydrokinetic renewable
energy.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" id="H8A3BEC43333E4FE39203F13649DACAB"><enum>(b)</enum><header>Marine
renewables</header><text>Subsection (c) of section 45 is amended by adding at
the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HA4A1CE9A49964D80A9002E869F5C4C00" style="OLC">
<paragraph commented="no" id="H26AB21C9405F4E41A9827F68C5AC3300"><enum>(10)</enum><header>Marine and
hydrokinetic renewable energy</header>
<subparagraph id="H14C78BF9E1B7413A9C6E49CE1421B74B"><enum>(A)</enum><header>In
general</header><text>The term <term>marine and hydrokinetic renewable
energy</term> means energy derived from—</text>
<clause display-inline="no-display-inline" id="H42D58B2A5A3C4744A837779710706235"><enum>(i)</enum><text>waves, tides, and
currents in oceans, estuaries, and tidal areas,</text>
</clause><clause id="HEC0AC1679A4A4962A92D5D689ED8A324"><enum>(ii)</enum><text>free flowing
water in rivers, lakes, and streams,</text>
</clause><clause id="HAB470988A6CA4AD382C49DAF47140048"><enum>(iii)</enum><text>free flowing
water in an irrigation system, canal, or other man-made channel, including
projects that utilize nonmechanical structures to accelerate the flow of water
for electric power production purposes, or</text>
</clause><clause id="H8A407083626346B7B79CBD951116D951"><enum>(iv)</enum><text>differentials in
ocean temperature (ocean thermal energy conversion).</text>
</clause></subparagraph><subparagraph id="H5F9C0733EE994283953CABD2F220026"><enum>(B)</enum><header>Exceptions</header><text display-inline="yes-display-inline">Such term shall not include any energy
which is derived from any source which utilizes a dam, diversionary structure
(except as provided in subparagraph (A)(iii)), or impoundment for electric
power production
purposes.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HDC080883D1D14822920069CC53F1F28"><enum>(c)</enum><header>Definition of
facility</header><text>Subsection (d) of section 45 is amended by adding at the
end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H2C2EF36BC5184D2090EC881E3D24E5D8" style="OLC">
<paragraph id="HBE29E086212F4EFBB36D01C6DF48239"><enum>(11)</enum><header>Marine and
hydrokinetic renewable energy facilities</header><text display-inline="yes-display-inline">In the case of a facility producing
electricity from marine and hydrokinetic renewable energy, the term
<term>qualified facility</term> means any facility owned by the
taxpayer—</text>
<subparagraph id="HC1C9E7523E1B458BB6FC9F3270A173FD"><enum>(A)</enum><text display-inline="yes-display-inline">which has a nameplate capacity rating of at
least 150 kilowatts, and</text>
</subparagraph><subparagraph id="HCA736F1CABEE48FAA0FC3C25875DBA0"><enum>(B)</enum><text>which is originally
placed in service on or after the date of the enactment of this paragraph and
before January 1,
2012.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H39CCE961D5394E739B94BF3D6EB31FF6"><enum>(d)</enum><header>Credit
rate</header><text>Subparagraph (A) of section 45(b)(4) is amended by striking
<quote>or (9)</quote> and inserting <quote>(9), or (11)</quote>.</text>
</subsection><subsection commented="no" id="H5ED11E6395AB45798F709C43B69B01BB"><enum>(e)</enum><header>Coordination
with small irrigation power</header><text>Paragraph (5) of section 45(d), as
amended by section 211, is amended by striking <quote>January 1, 2012</quote>
and inserting <quote>the date of the enactment of paragraph
(11)</quote>.</text>
</subsection><subsection id="H4D4194274BC84897B678311F49188FA8"><enum>(f)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
electricity produced and sold after the date of the enactment of this Act, in
taxable years ending after such date.</text>
</subsection></section><section display-inline="no-display-inline" id="H9BC4ADD318884240A300FD5793521337"><enum>213.</enum><header>Energy
credit</header>
<subsection id="HEC77645A5EE64335A3BCA47B84AA5E"><enum>(a)</enum><header>Extension of
credit</header>
<paragraph id="H4B93E781DDFA47E8A4AE855FAA1946AD"><enum>(1)</enum><header>Solar energy
property</header><text>Paragraphs (2)(A)(i)(II) and (3)(A)(ii) of section 48(a)
are each amended by striking <quote>January 1, 2009</quote> and inserting
<quote>January 1, 2015</quote>.</text>
</paragraph><paragraph id="H634D66048FC946338FE146E6712F177D"><enum>(2)</enum><header>Fuel cell
property</header><text>Subparagraph (E) of section 48(c)(1) is amended by
striking <quote>December 31, 2008</quote> and inserting <quote>December 31,
2014</quote>.</text>
</paragraph><paragraph commented="no" id="HF3D52BBD60B04D9B98E501287979B900"><enum>(3)</enum><header>Microturbine
property</header><text>Subparagraph (E) of section 48(c)(2) is amended by
striking <quote>December 31, 2008</quote> and inserting <quote>December 31,
2014</quote>.</text>
</paragraph></subsection><subsection id="HB45D0813B48046D68D60F40900406526"><enum>(b)</enum><header>Allowance of
energy credit against alternative minimum tax</header><text>Subparagraph (B) of
section 38(c)(4) is amended by striking <quote>and</quote> at the end of clause
(iii), by redesignating clause (iv) as clause (v), and by inserting after
clause (iii) the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="H585167CE44ED4E86946978777609A6BA" style="OLC">
<clause id="H03D89A0F567B4E9CB870AB04F8BC67A6"><enum>(iv)</enum><text>the credit
determined under section 46 to the extent that such credit is attributable to
the energy credit determined under section 48,
and</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection display-inline="no-display-inline" id="HF54C860AC7FC4CFE9DE644F4D2DDB8BB"><enum>(c)</enum><header>Energy credit
for combined heat and power system property</header>
<paragraph id="H4767C6A7C2804C13B74C9CBDFD751ED1"><enum>(1)</enum><header>In
general</header><text>Section 48(a)(3)(A) (defining energy property) is amended
by striking <quote>or</quote> at the end of clause (iii), by inserting
<quote>or</quote> at the end of clause (iv), and by adding at the end the
following new clause:</text>
<quoted-block id="HCFFE7F3748714BD097DA3C0941FFDFB5" style="OLC">
<clause id="HBC7D3A49B3DB4F87838D51F7B300BFF4"><enum>(v)</enum><text>combined heat and
power system
property,</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H154CDAE852A84F61B105D6E969326D00"><enum>(2)</enum><header>Combined Heat
and Power System Property</header><text>Section 48 is amended by adding at the
end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="HA44773243F6D459B8F9D188E1C7F5561" style="OLC">
<subsection id="H27D105E9C19B4DB79BFEB5BFD5543392"><enum>(d)</enum><header>Combined Heat
and Power System Property</header><text>For purposes of subsection
(a)(3)(A)(v)—</text>
<paragraph id="H78BBAD672BB44851BBCD337377E6DF05"><enum>(1)</enum><header>Combined heat
and power system property</header><text>The term <term>combined heat and power
system property</term> means property comprising a system—</text>
<subparagraph id="H44ACB20F78024F32A760B22887F84147"><enum>(A)</enum><text>which uses the
same energy source for the simultaneous or sequential generation of electrical
power, mechanical shaft power, or both, in combination with the generation of
steam or other forms of useful thermal energy (including heating and cooling
applications),</text>
</subparagraph><subparagraph id="H7D5BDEE69E334BE5AEE6D7FCDB291B67"><enum>(B)</enum><text>which
produces—</text>
<clause id="H7C726E84194E4130A133CFDF52774C1"><enum>(i)</enum><text>at
least 20 percent of its total useful energy in the form of thermal energy which
is not used to produce electrical or mechanical power (or combination thereof),
and</text>
</clause><clause id="H507B84FEA91743BCB5E213FFAC009D46"><enum>(ii)</enum><text>at least 20
percent of its total useful energy in the form of electrical or mechanical
power (or combination thereof),</text>
</clause></subparagraph><subparagraph id="HA0997655823B40A59CE116ADAED2397F"><enum>(C)</enum><text>the energy
efficiency percentage of which exceeds 60 percent, and</text>
</subparagraph><subparagraph id="H47501F139B354873B19ECCC17681BCC7"><enum>(D)</enum><text>which is placed in
service before January 1, 2015.</text>
</subparagraph></paragraph><paragraph id="H3B64F244DEB3424D8BDC4496DEEBD4CA"><enum>(2)</enum><header>Limitation</header>
<subparagraph id="HAC52D6A6EE9A4959AD9C6B9BE5F20610"><enum>(A)</enum><header>In
general</header><text>In the case of combined heat and power system property
with an electrical capacity in excess of the applicable capacity placed in
service during the taxable year, the credit under subsection (a)(1) (determined
without regard to this paragraph) for such year shall be equal to the amount
which bears the same ratio to such credit as the applicable capacity bears to
the capacity of such property.</text>
</subparagraph><subparagraph id="HC5AC95D1BCAB4726885CCE5DEA560192"><enum>(B)</enum><header>Applicable
capacity</header><text>For purposes of subparagraph (A), the term
<term>applicable capacity</term> means 15 megawatts or a mechanical energy
capacity of more than 20,000 horsepower or an equivalent combination of
electrical and mechanical energy capacities.</text>
</subparagraph><subparagraph id="H8D94049E0FD449BFBEDE65D9B355E508"><enum>(C)</enum><header>Maximum
capacity</header><text>The term <term>combined heat and power system
property</term> shall not include any property comprising a system if such
system has a capacity in excess of 50 megawatts or a mechanical energy capacity
in excess of 67,000 horsepower or an equivalent combination of electrical and
mechanical energy capacities.</text>
</subparagraph></paragraph><paragraph id="H4A729B6A14814A9200CC06762FB48E72"><enum>(3)</enum><header>Special
rules</header>
<subparagraph id="H001066A9D611439B915DD19B739073EB"><enum>(A)</enum><header>Energy
efficiency percentage</header><text>For purposes of this subsection, the energy
efficiency percentage of a system is the fraction—</text>
<clause id="HF0D18DF1AB7F45D685B1F9B4B2B4BE3"><enum>(i)</enum><text>the
numerator of which is the total useful electrical, thermal, and mechanical
power produced by the system at normal operating rates, and expected to be
consumed in its normal application, and</text>
</clause><clause id="H34FFFF5C317448DDB3A11D7BF9179418"><enum>(ii)</enum><text>the denominator
of which is the lower heating value of the fuel sources for the system.</text>
</clause></subparagraph><subparagraph id="H598A19FCE5BA4FF2BF37A908FB115D7"><enum>(B)</enum><header>Determinations
made on btu basis</header><text>The energy efficiency percentage and the
percentages under paragraph (1)(B) shall be determined on a Btu basis.</text>
</subparagraph><subparagraph id="H30B320081B944BD6B292B8A800DD9238"><enum>(C)</enum><header>Input and output
property not included</header><text>The term <term>combined heat and power
system property</term> does not include property used to transport the energy
source to the facility or to distribute energy produced by the facility.</text>
</subparagraph></paragraph><paragraph id="H990D1761EB2A4C5DA671618425095BE8"><enum>(4)</enum><header>Systems using
biomass</header><text>If a system is designed to use biomass (within the
meaning of paragraphs (2) and (3) of section 45(c) without regard to the last
sentence of paragraph (3)(A)) for at least 90 percent of the energy
source—</text>
<subparagraph id="H4B33024AB00F4330AFAA2C081391B240"><enum>(A)</enum><text>paragraph (1)(C)
shall not apply, but</text>
</subparagraph><subparagraph id="HF085757680ED48288595A4BFE05B5BE9"><enum>(B)</enum><text>the amount of
credit determined under subsection (a) with respect to such system shall not
exceed the amount which bears the same ratio to such amount of credit
(determined without regard to this paragraph) as the energy efficiency
percentage of such system bears to 60
percent.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H1C7CEFA059A24F16A6282E9B6CA700C8"><enum>(d)</enum><header>Increase of
credit limitation for fuel cell property</header><text>Subparagraph (B) of
section 48(c)(1) is amended by striking <quote>$500</quote> and inserting
<quote>$1,500</quote>.</text>
</subsection><subsection id="H44EF655636604B35AC76037CA2FF5154"><enum>(e)</enum><header>Public utility
property taken into account</header>
<paragraph id="H340478ED5C504ABFB762AC226EEB08A7"><enum>(1)</enum><header>In
general</header><text>Paragraph (3) of section 48(a) is amended by striking the
second sentence thereof.</text>
</paragraph><paragraph id="H9F9A7A9928CD471D98D7931001566BEF"><enum>(2)</enum><header>Conforming
amendments</header>
<subparagraph id="HCA5E5463BF2B4307A4E730959B6FEC32"><enum>(A)</enum><text>Paragraph (1) of
section 48(c) is amended by striking subparagraph (D) and redesignating
subparagraph (E) as subparagraph (D).</text>
</subparagraph><subparagraph id="H4B5692FDE17B4EC083A376EC73D85E7C"><enum>(B)</enum><text display-inline="yes-display-inline">Paragraph (2) of section 48(c) is amended
by striking subparagraph (D) and redesignating subparagraph (E) as subparagraph
(D).</text>
</subparagraph></paragraph></subsection><subsection id="H9A685C8E85FF470ABC2E82FA4BEE95B"><enum>(f)</enum><header>Effective
date</header>
<paragraph id="H9F63004F6F4B4D259DFE200E1669C45"><enum>(1)</enum><header>In
general</header><text>Except as otherwise provided in this subsection, the
amendments made by this section shall take effect on the date of the enactment
of this Act.</text>
</paragraph><paragraph id="HBA20D7B098E8471DB42EF21FDEC9AAEF"><enum>(2)</enum><header>Allowance
against alternative minimum tax</header><text>The amendments made by subsection
(b) shall apply to credits determined under section 46 of the Internal Revenue
Code of 1986 in taxable years beginning after the date of the enactment of this
Act and to carrybacks of such credits.</text>
</paragraph><paragraph id="HB6F77140FC3C430D9478C44988CFDEC4"><enum>(3)</enum><header>Combined heat
and power and fuel cell property</header><text>The amendments made by
subsections (c) and (d) shall apply to periods after the date of the enactment
of this Act, in taxable years ending after such date, 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).</text>
</paragraph><paragraph id="HADB27085C1714D27B0EE675D85C5D1E8"><enum>(4)</enum><header> Public utility
property</header><text display-inline="yes-display-inline">The amendments made
by subsection (e) shall apply to periods after February 13, 2008, in taxable
years ending after such date, 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).</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="H5ED789E7E8984A7B98387E05F95EF1FB" section-type="subsequent-section"><enum>214.</enum><header>Credit for
residential energy efficient property</header>
<subsection id="H0AE8EBEDC3BA472EBB419F76F6251599"><enum>(a)</enum><header>Extension</header><text>Section
25D(g) is amended by striking <quote>December 31, 2008</quote> and inserting
<quote>December 31, 2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HB3844B98040B4DF6BF8855F000F700A6"><enum>(b)</enum><header>Maximum credit
for solar electric property</header>
<paragraph commented="no" display-inline="no-display-inline" id="HAC9CDC73A45246538FECA973584E00FC"><enum>(1)</enum><header>In
general</header><text>Section 25D(b)(1)(A) is amended by striking
<quote>$2,000</quote> and inserting <quote>$4,000</quote>.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H983C1D96F07E41B5A38188A0080082B5"><enum>(2)</enum><header>Conforming
amendment</header><text>Section 25D(e)(4)(A)(i) is amended by striking
<quote>$6,667</quote> and inserting <quote>$13,333</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H11E916D254AA4139BB7E7C47EC1EE261"><enum>(c)</enum><header>Credit for
residential wind property</header>
<paragraph commented="no" id="HAD4B1A14BB8D44CE9C43EC37377F6CA9"><enum>(1)</enum><header>In
general</header><text>Section 25D(a) is amended by striking <quote>and</quote>
at the end of paragraph (2), by striking the period at the end of paragraph (3)
and inserting <quote>, and</quote>, and by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H1C63D35F3DE14421002577EA4BE5FC59" style="OLC">
<paragraph id="HE47A7AA58C0343D59B6F633F86CE8C74"><enum>(4)</enum><text>30 percent of the
qualified small wind energy property expenditures made by the taxpayer during
such
year.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="HE78EF330A0F9466699F5BD6F54B3DFD7"><enum>(2)</enum><header>Limitation</header><text>Section
25D(b)(1) is amended by striking <quote>and</quote> at the end of subparagraph
(B), by striking the period at the end of subparagraph (C) and inserting
<quote>, and</quote>, and by adding at the end the following new
subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="HCD446BBFB5C84960B7C9CBDE5E083DA3" style="OLC">
<subparagraph id="HB5C81CF3ABE444D3A076573B00F8E890"><enum>(D)</enum><text>$500 with respect
to each half kilowatt of capacity (not to exceed $4,000) of wind turbines for
which qualified small wind energy property expenditures are
made.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="HB815A3F98DE94DD9970072705F705FDE"><enum>(3)</enum><header>Qualified small
wind energy property expenditures</header>
<subparagraph commented="no" id="HD24C6FA01FA34D1CA640F9741434ECB"><enum>(A)</enum><header>In
general</header><text>Section 25D(d) is amended by adding at the end the
following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H7886019951BF42469D2F49FEE6E4DFB8" style="OLC">
<paragraph id="H10ECE916613841E49E756326BA267F95"><enum>(4)</enum><header>Qualified small
wind energy property expenditure</header><text>The term <term>qualified small
wind energy property expenditure</term> means an expenditure for property which
uses a wind turbine to generate electricity for use in connection with a
dwelling unit located in the United States and used as a residence by the
taxpayer.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" id="H8ADA5F095229490EA4447FCF6C1F0051"><enum>(B)</enum><header>No double
benefit</header><text>Section 45(d)(1) is amended by adding at the end the
following new sentence: <quote>Such term shall not include any facility with
respect to which any qualified small wind energy property expenditure (as
defined in subsection (d)(4) of section 25D) is taken into account in
determining the credit under such section.</quote>.</text>
</subparagraph></paragraph><paragraph commented="no" id="H620566E0C5DA43B290D73D5233C38C92"><enum>(4)</enum><header>Maximum
expenditures in case of joint occupancy</header><text>Section 25D(e)(4)(A) is
amended by striking <quote>and</quote> at the end of clause (ii), by striking
the period at the end of clause (iii) and inserting <quote>, and</quote>, and
by adding at the end the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="H5A0CF040496241CA000000DBF404502F" style="OLC">
<clause commented="no" id="H706DF7D37CF048DFA9B6A1EDFABC21E"><enum>(iv)</enum><text>$1,667 in the case
of each half kilowatt of capacity (not to exceed $13,333) of wind turbines for
which qualified small wind energy property expenditures are
made.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H11ED1E8DEE464E20B615536094D8BE2B"><enum>(d)</enum><header>Credit for
geothermal heat pump systems</header>
<paragraph commented="no" id="H75450415236441238F99DF0049AA0086"><enum>(1)</enum><header>In
general</header><text>Section 25D(a), as amended by subsection (c), is amended
by striking <quote>and</quote> at the end of paragraph (3), by striking the
period at the end of paragraph (4) and inserting <quote>, and</quote>, and by
adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HDB01C5B6FDBA41C500904C656431B339" style="OLC">
<paragraph id="H955CCC033A9C4BE4B14B98F3B286257"><enum>(5)</enum><text>30 percent of the
qualified geothermal heat pump property expenditures made by the taxpayer
during such
year.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="HED3CEFFA513549F2B245F1B66F5B6344"><enum>(2)</enum><header>Limitation</header><text>Section
25D(b)(1), as amended by subsection (c), is amended by striking
<quote>and</quote> at the end of subparagraph (C), by striking the period at
the end of subparagraph (D) and inserting <quote>, and</quote>, and by adding
at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H96C04EFC50274504AFBAC597C30E3D8" style="OLC">
<subparagraph id="H217A406B52BF4CC4BC09B3DD37005368"><enum>(E)</enum><text>$2,000 with
respect to any qualified geothermal heat pump property
expenditures.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="H74637E4AECBD4B7D9919B967008EF184"><enum>(3)</enum><header>Qualified
geothermal heat pump property expenditure</header><text>Section 25D(d), as
amended by subsection (c), is amended by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H1711CFBB11954553B054A627D28BFDEF" style="OLC">
<paragraph id="HEAC45F0A9C924046A7B6ECB5C5F424C5"><enum>(5)</enum><header>Qualified
geothermal heat pump property expenditure</header>
<subparagraph id="H437F8089C4344C0D90E4B0F554001549"><enum>(A)</enum><header>In
general</header><text>The term <term>qualified geothermal heat pump property
expenditure</term> means an expenditure for qualified geothermal heat pump
property installed on or in connection with a dwelling unit located in the
United States and used as a residence by the taxpayer.</text>
</subparagraph><subparagraph id="H82072B2A872F4A0A9C49587760E229CF"><enum>(B)</enum><header>Qualified
geothermal heat pump property</header><text>The term <quote>qualified
geothermal heat pump property</quote> means any equipment which—</text>
<clause id="HAE175F3C5F9B48C7BDD1D8B64DA5D0E5"><enum>(i)</enum><text display-inline="yes-display-inline">uses the ground or ground water as a
thermal energy source to heat the dwelling unit referred to in subparagraph (A)
or as a thermal energy sink to cool such dwelling unit, and</text>
</clause><clause id="HC7585C35CCE3426DB5D3382883A1D252"><enum>(ii)</enum><text display-inline="yes-display-inline">meets the requirements of the Energy Star
program which are in effect at the time that the expenditure for such equipment
is
made.</text>
</clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="HDC358ACA3F284D5AA8F0840057CBE75F"><enum>(4)</enum><header>Maximum
expenditures in case of joint occupancy</header><text>Section 25D(e)(4)(A), as
amended by subsection (c), is amended by striking <quote>and</quote> at the end
of clause (iii), by striking the period at the end of clause (iv) and inserting
<quote>, and</quote>, and by adding at the end the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="H991F3639274049B1BE10E0DE55C2A96F" style="OLC">
<clause commented="no" id="HC15C6711DC4447F2B8BE69A509BA531"><enum>(v)</enum><text>$6,667 in the case
of any qualified geothermal heat pump property
expenditures.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" id="H6F0C93D127294A5F8E5721FF1860BEB"><enum>(e)</enum><header>Credit allowed
against alternative minimum tax</header>
<paragraph commented="no" id="HA52E6E6054C14F38BF004961DB00382B"><enum>(1)</enum><header>In
general</header><text>Subsection (c) of section 25D is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="H7BFD2B831E3049F0820092734CB3DC5E" style="OLC">
<subsection commented="no" id="H96E96289F0494769A0E7BEABA74B2FCC"><enum>(c)</enum><header>Limitation based
on amount of tax; carryforward of unused credit</header>
<paragraph commented="no" id="H81FB8EDBCFDE4052B8A7F5A17DE7CAC9"><enum>(1)</enum><header>Limitation based
on amount of tax</header><text>In the case of a taxable year to which section
26(a)(2) does not apply, the credit allowed under subsection (a) for the
taxable year shall not exceed the excess of—</text>
<subparagraph commented="no" id="HA89AD31D54554314987D545114462E10"><enum>(A)</enum><text>the sum of the
regular tax liability (as defined in section 26(b)) plus the tax imposed by
section 55, over</text>
</subparagraph><subparagraph commented="no" id="HFA6A51F2F3044058A5B3DD2165EAFCB"><enum>(B)</enum><text>the sum of the
credits allowable under this subpart (other than this section) and section 27
for the taxable year.</text>
</subparagraph></paragraph><paragraph commented="no" id="H9E51C063F9B947FF8D675827FC701F1F"><enum>(2)</enum><header>Carryforward of
unused credit</header>
<subparagraph commented="no" id="H1523402CCFDB4195BCD82956004969B5"><enum>(A)</enum><header>Rule for years
in which all personal credits allowed against regular and alternative minimum
tax</header><text display-inline="yes-display-inline">In the case of a taxable
year to which section 26(a)(2) applies, if the credit allowable under
subsection (a) exceeds the limitation imposed by section 26(a)(2) for such
taxable year reduced by the sum of the credits allowable under this subpart
(other than this section), such excess shall be carried to the succeeding
taxable year and added to the credit allowable under subsection (a) for such
succeeding taxable year.</text>
</subparagraph><subparagraph commented="no" id="H87DFD4FDC83642FCAE8488765100A600"><enum>(B)</enum><header>Rule for other
years</header><text>In the case of a taxable year to which section 26(a)(2)
does not apply, if the credit allowable under subsection (a) exceeds the
limitation imposed by paragraph (1) for such taxable year, such excess shall be
carried to the succeeding taxable year and added to the credit allowable under
subsection (a) for such succeeding taxable
year.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="HB6D7F536D7BB47F09F356EFEC36BC781"><enum>(2)</enum><header>Conforming
amendments</header>
<subparagraph commented="no" id="H68C6B1EF142A410EA25488545D8DD450"><enum>(A)</enum><text>Section
23(b)(4)(B) is amended by inserting <quote>and section 25D</quote> after
<quote>this section</quote>.</text>
</subparagraph><subparagraph commented="no" id="H445530E45FBE4CCCA829C633FC7C7FF7"><enum>(B)</enum><text>Section
24(b)(3)(B) is amended by striking <quote>and 25B</quote> and inserting
<quote>, 25B, and 25D</quote>.</text>
</subparagraph><subparagraph commented="no" id="HEA68E0A870024DC0A1DF85AA4108058D"><enum>(C)</enum><text>Section 25B(g)(2)
is amended by striking <quote>section 23</quote> and inserting <quote>sections
23 and 25D</quote>.</text>
</subparagraph><subparagraph commented="no" id="H73787507E38B458181C400B0FD000955"><enum>(D)</enum><text>Section 26(a)(1)
is amended by striking <quote>and 25B</quote> and inserting <quote>25B, and
25D</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="H82D4C8F6524445AE8DDBDF29D21B98F9"><enum>(f)</enum><header>Effective
date</header>
<paragraph id="H84BF98CB13F44E65A8F7AE901E83036D"><enum>(1)</enum><header>In
general</header><text>The amendments made by this section shall apply to
taxable years beginning after December 31, 2007.</text>
</paragraph><paragraph id="H9D6A7EFE19F34AFC81A43ED276246C26"><enum>(2)</enum><header>Application of
EGTRRA sunset</header><text>The amendments made by subparagraphs (A) and (B) of
subsection (e)(2) shall be subject to title IX of the Economic Growth and Tax
Relief Reconciliation Act of 2001 in the same manner as the provisions of such
Act to which such amendments relate.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="H529C574471784FDE965272612F947954" section-type="subsequent-section"><enum>215.</enum><header>Special rule to
implement FERC and State electric restructuring policy</header>
<subsection id="HF77A14139B854B5FACD553AC8B21C101"><enum>(a)</enum><header>Extension for
qualified electric utilities</header>
<paragraph id="HC010B59D580E47F3BA00FC9F4100FE47"><enum>(1)</enum><header>In
general</header><text>Paragraph (3) of section 451(i) is amended by inserting
<quote>(before January 1, 2010, in the case of a qualified electric
utility)</quote> after <quote>January 1, 2008</quote>.</text>
</paragraph><paragraph id="HA3F05616DD2F4794ADFCAB09E3624BDB"><enum>(2)</enum><header>Qualified
electric utility</header><text>Subsection (i) of section 451 is amended by
redesignating paragraphs (6) through (10) as paragraphs (7) through (11),
respectively, and by inserting after paragraph (5) the following new
paragraph:</text>
<quoted-block id="HD1231AF7374D449D9D922C510527CB62" style="OLC">
<paragraph id="H5C54C4D074154E4A8577D179DF1F35DB"><enum>(6)</enum><header>Qualified
electric utility</header><text>For purposes of this subsection, the term
<quote>qualified electric utility</quote> means a person that, as of the date
of the qualifying electric transmission transaction, is vertically integrated,
in that it is both—</text>
<subparagraph id="HDEF9ECAF9CAC4DDFBBAA63A200FBC9C"><enum>(A)</enum><text>a transmitting
utility (as defined in section 3(23) of the Federal Power Act (16 U.S.C.
796(23))) with respect to the transmission facilities to which the election
under this subsection applies, and</text>
</subparagraph><subparagraph id="HAA3BE9F526F0430196D200B9547D3755"><enum>(B)</enum><text>an electric
utility (as defined in section 3(22) of the Federal Power Act (16 U.S.C.
796(22))).</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="HC6CA2CEE97314A2EBDD8D2046C35EAC"><enum>(b)</enum><header>Extension of
period for transfer of operational control authorized by
FERC</header><text>Clause (ii) of section 451(i)(4)(B) is amended by striking
<quote>December 31, 2007</quote> and inserting <quote>the date which is 4 years
after the close of the taxable year in which the transaction
occurs</quote>.</text>
</subsection><subsection id="H4D56FAD0DD19458DAB740092CA10CF00"><enum>(c)</enum><header>Property located
outside the united states not treated as exempt utility
property</header><text>Paragraph (5) of section 451(i) is amended by adding at
the end the following new subparagraph:</text>
<quoted-block id="HD1C307CDDD274D0A98FEB0207F7800E" style="OLC">
<subparagraph id="H43179BB6BE284467AF003B7B3EB2D19E"><enum>(C)</enum><header>Exception for
property located outside the united states</header><text>The term <quote>exempt
utility property</quote> shall not include any property which is located
outside the United
States.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H34D6B76ED61D4677BCF91E4FE4F185F"><enum>(d)</enum><header>Effective
Dates</header>
<paragraph id="H001C3204DEF9475FA706E65C737593BA"><enum>(1)</enum><header>Extension</header><text>The
amendments made by subsection (a) shall apply to transactions after December
31, 2007.</text>
</paragraph><paragraph id="H94B2BB3F51E94E868F86DBB14BB16B5E"><enum>(2)</enum><header>Transfers of
operational control</header><text>The amendment made by subsection (b) shall
take effect as if included in section 909 of the American Jobs Creation Act of
2004.</text>
</paragraph><paragraph id="HC3C79F04DADB45FC9DA03D44FC34AA00"><enum>(3)</enum><header>Exception for
property located outside the united states</header><text>The amendment made by
subsection (c) shall apply to transactions after the date of the enactment of
this Act.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="HD437A3962F7B4E4F97437CB1384F81BB" section-type="subsequent-section"><enum>216.</enum><header>New clean renewable
energy bonds</header>
<subsection id="idFB706A68F0164ED999AD6E2D47C763DB"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subpart I of part IV
of subchapter A of chapter 1 is amended by adding at the end the following new
section:</text>
<quoted-block display-inline="no-display-inline" id="HB6ACEB08E4EC474E91D06FEF08684232" style="OLC">
<section display-inline="no-display-inline" id="H54E7B0137002482281878B1EB2BE8BCB" section-type="subsequent-section"><enum>54C.</enum><header>New clean renewable
energy bonds</header>
<subsection id="H00E8DB8CF1944A2EB3F486C5BCC3D00"><enum>(a)</enum><header>New clean
renewable energy bond</header><text>For purposes of this subpart, the term
<term>new clean renewable energy bond</term> means any bond issued as part of
an issue if—</text>
<paragraph id="H0F1C11D71D724FE8849E59501B56008C"><enum>(1)</enum><text>100 percent of the
available project proceeds of such issue are to be used for capital
expenditures incurred by governmental bodies, public power providers, or
cooperative electric companies for one or more qualified renewable energy
facilities,</text>
</paragraph><paragraph id="HCBEF74B59AFB47B89600047BF1EB4726"><enum>(2)</enum><text>the bond is issued
by a qualified issuer, and</text>
</paragraph><paragraph id="H4E05DCD75508412D8965D4AEC0CF0401"><enum>(3)</enum><text>the issuer
designates such bond for purposes of this section.</text>
</paragraph></subsection><subsection id="H344D93647ADB44C2BF2D9E79447C28C3"><enum>(b)</enum><header>Reduced credit
amount</header><text>The annual credit determined under section 54A(b) with
respect to any new clean renewable energy bond shall be 70 percent of the
amount so determined without regard to this subsection.</text>
</subsection><subsection display-inline="no-display-inline" id="HEFCA34AD06A940B89BCBFABF325E74AB"><enum>(c)</enum><header>Limitation on
amount of bonds designated</header>
<paragraph id="H71CF34FDF2784CA3A7F62352FAFFB257"><enum>(1)</enum><header>In
general</header><text>The maximum aggregate face amount of bonds which may be
designated under subsection (a) by any issuer shall not exceed the limitation
amount allocated under this subsection to such issuer.</text>
</paragraph><paragraph id="H3B51764359334749A13C5B20733635C0"><enum>(2)</enum><header>National
limitation on amount of bonds designated</header><text>There is a national new
clean renewable energy bond limitation of $2,000,000,000 which shall be
allocated by the Secretary as provided in paragraph (3), except that—</text>
<subparagraph id="H47063384E64043B2A82346376DA9D24B"><enum>(A)</enum><text>not more than
33<fraction>1/3</fraction> percent thereof may be allocated to qualified
projects of public power providers,</text>
</subparagraph><subparagraph id="H9827F68FDE3A4911A469E599318894B5"><enum>(B)</enum><text>not more than
33<fraction>1/3</fraction> percent thereof may be allocated to qualified
projects of governmental bodies, and</text>
</subparagraph><subparagraph id="HDA3CA9D68EE34A5391E67C4D53D7BA9F"><enum>(C)</enum><text>not more than
33<fraction>1/3</fraction> percent thereof may be allocated to qualified
projects of cooperative electric companies.</text>
</subparagraph></paragraph><paragraph id="H3F030860A72146F28042622E46DD884E"><enum>(3)</enum><header>Method of
allocation</header>
<subparagraph id="HBC9D76A87629459FAED0BD1D6CDE892F"><enum>(A)</enum><header>Allocation among
public power providers</header><text>After the Secretary determines the
qualified projects of public power providers which are appropriate for
receiving an allocation of the national new clean renewable energy bond
limitation, the Secretary shall, to the maximum extent practicable, make
allocations among such projects in such manner that the amount allocated to
each such project bears the same ratio to the cost of such project as the
limitation under paragraph (2)(A) bears to the cost of all such
projects.</text>
</subparagraph><subparagraph id="H59F9AF5D8D06444893ECCE47D046003E"><enum>(B)</enum><header>Allocation among
governmental bodies and cooperative electric companies</header><text>The
Secretary shall make allocations of the amount of the national new clean
renewable energy bond limitation described in paragraphs (2)(B) and (2)(C)
among qualified projects of governmental bodies and cooperative electric
companies, respectively, in such manner as the Secretary determines
appropriate.</text>
</subparagraph></paragraph></subsection><subsection id="H8A211A7D3476406A8EC4581623090001"><enum>(d)</enum><header>Definitions</header><text>For
purposes of this section—</text>
<paragraph id="HA6EEF51A5EFC4D4D95F5A4188808D514"><enum>(1)</enum><header>Qualified
renewable energy facility</header><text>The term <term>qualified renewable
energy facility</term> means a qualified facility (as determined under section
45(d) without regard to paragraphs (8) and (10) thereof and to any placed in
service date) owned by a public power provider, a governmental body, or a
cooperative electric company.</text>
</paragraph><paragraph id="H025CA72BE53D4B48B40008791FED08C9"><enum>(2)</enum><header>Public power
provider</header><text display-inline="yes-display-inline">The term
<term>public power provider</term> means a State utility with a service
obligation, as such terms are defined in section 217 of the Federal Power Act
(as in effect on the date of the enactment of this paragraph).</text>
</paragraph><paragraph display-inline="no-display-inline" id="HA3D63DE9257948E09EF9BC19E5805178"><enum>(3)</enum><header>Governmental
body</header><text>The term <term>governmental body</term> means any State or
Indian tribal government, or any political subdivision thereof.</text>
</paragraph><paragraph id="H0A4CBB25B5214FEDACE5E5BF40135BC5"><enum>(4)</enum><header>Cooperative
electric company</header><text display-inline="yes-display-inline">The term
<term>cooperative electric company</term> means a mutual or cooperative
electric company described in section 501(c)(12) or section
1381(a)(2)(C).</text>
</paragraph><paragraph id="H7A310B2C23BA4CF597877DE0D940BEE"><enum>(5)</enum><header>Clean renewable
energy bond lender</header><text display-inline="yes-display-inline">The term
<term>clean renewable energy bond lender</term> means a lender which is a
cooperative which is owned by, or has outstanding loans to, 100 or more
cooperative electric companies and is in existence on February 1, 2002, and
shall include any affiliated entity which is controlled by such lender.</text>
</paragraph><paragraph id="H3BE978420EB042B88EA5010432522B7B"><enum>(6)</enum><header>Qualified
issuer</header><text display-inline="yes-display-inline">The term
<term>qualified issuer</term> means a public power provider, a cooperative
electric company, a governmental body, a clean renewable energy bond lender, or
a not-for-profit electric utility which has received a loan or loan guarantee
under the Rural Electrification
Act.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id17FB8377F5954359B42A38701F0007E2"><enum>(b)</enum><header>Conforming
amendments</header>
<paragraph id="idE1A6CD62BBFF409D9311C4A72E77FAB6"><enum>(1)</enum><text>Paragraph (1) of
section 54A(d) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="idD2D720FE15B94A4B8F16A0F5F683D311" style="OLC">
<paragraph commented="no" id="idEDE7811282654E7FAF6FA997506AA46E"><enum>(1)</enum><header>Qualified tax
credit bond</header><text>The term <term>qualified tax credit bond</term>
means—</text>
<subparagraph commented="no" id="id244809C00643463BB2B9F56775F2D6A3"><enum>(A)</enum><text>a qualified
forestry conservation bond, or</text>
</subparagraph><subparagraph id="id13659CD4668149DC81CB0622F2CB928E"><enum>(B)</enum><text>a new clean
renewable energy bond,</text>
</subparagraph><continuation-text continuation-text-level="paragraph">which is
part of an issue that meets requirements of paragraphs (2), (3), (4), (5), and
(6).</continuation-text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="idF31431149C43493D865FADDBFFCC93C5"><enum>(2)</enum><text>Subparagraph (C)
of section 54A(d)(2) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="idB75A6C184BB24562B73EFC891B2F8E86" style="OLC">
<subparagraph commented="no" id="id98FE2B5E7346446AB185F2BF8A08C051"><enum>(C)</enum><header>Qualified
purpose</header><text>For purposes of this paragraph, the term <term>qualified
purpose</term> means—</text>
<clause commented="no" id="id37B8C27346474CE5BB0AC475D5D9A8E0"><enum>(i)</enum><text>in the case of a
qualified forestry conservation bond, a purpose specified in section 54B(e),
and</text>
</clause><clause id="idB83D778568504CDAA39628BA495B92E0"><enum>(ii)</enum><text>in the case of a
new clean renewable energy bond, a purpose specified in section
54C(a)(1).</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="id42A6F39D1127406B80A25BFC877C3A50"><enum>(3)</enum><text display-inline="yes-display-inline">The table of sections for subpart I of part
IV of subchapter A of chapter 1 is amended by adding at the end the following
new item:</text>
<quoted-block display-inline="no-display-inline" id="id94A6B39C945B44D79BBC63C3ABAE6FFF" style="OLC">
<toc container-level="quoted-block-container" idref="H84E4FF4893D849EB890056C916790067" lowest-bolded-level="division-lowest-bolded" lowest-level="section" quoted-block="no-quoted-block" regeneration="yes-regeneration">
<toc-entry idref="H85287BA9F6C54044A49405E9007B70A4" level="section">Sec. 54C. Qualified clean renewable energy
bonds.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id596CBF7C764048ED91A3F04F11067638"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
obligations issued after the date of the enactment of this Act.</text>
</subsection></section></subtitle><subtitle id="H4920317A7E084E15B07F711FE2CFAD"><enum>C</enum><header>Carbon mitigation
provisions</header>
<section display-inline="no-display-inline" id="H1515B1E7E6BB45ED8446D978D7A464FA" section-type="subsequent-section"><enum>221.</enum><header>Expansion and
modification of advanced coal project investment credit</header>
<subsection id="H565A631A4E924741B442B54C91CBC6C"><enum>(a)</enum><header>Modification of
credit amount</header><text>Section 48A(a) is amended by striking
<quote>and</quote> at the end of paragraph (1), by striking the period at the
end of paragraph (2) and inserting <quote>, and</quote>, and by adding at the
end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HFEC0BD29C97D49718CC3BEC6C1B44E00" style="OLC">
<paragraph id="H50CFDC80CB91482FB61667A3ACB71BBB"><enum>(3)</enum><text>30 percent of the
qualified investment for such taxable year in the case of projects described in
clause (iii) of subsection
(d)(3)(B).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HFAF131E2D0254EAFAF07FCC422EFB960"><enum>(b)</enum><header>Expansion of
aggregate credits</header><text>Section 48A(d)(3)(A) is amended by striking
<quote>$1,300,000,000</quote> and inserting
<quote>$2,550,000,000</quote>.</text>
</subsection><subsection id="HB09D7F6840C04C6BA12939364CA7A766"><enum>(c)</enum><header>Authorization of
Additional Projects</header>
<paragraph id="H85F3B05D5EEC4B75B567AB43A06E00F1"><enum>(1)</enum><header>In
general</header><text>Subparagraph (B) of section 48A(d)(3) is amended to read
as follows:</text>
<quoted-block display-inline="no-display-inline" id="H52151FCD902C4A1AB92C7FB7BC400DF" style="OLC">
<subparagraph id="HF6E9A4F72A6D4CC3BD2D4B4B7899967B"><enum>(B)</enum><header>Particular
projects</header><text>Of the dollar amount in subparagraph (A), the Secretary
is authorized to certify—</text>
<clause id="HF3A06F3185BF468D8018D8E768C1885D"><enum>(i)</enum><text>$800,000,000 for
integrated gasification combined cycle projects the application for which is
submitted during the period described in paragraph (2)(A)(i),</text>
</clause><clause id="H90B5F5DC4F484C279D0011C6CE3D9640"><enum>(ii)</enum><text>$500,000,000 for
projects which use other advanced coal-based generation technologies the
application for which is submitted during the period described in paragraph
(2)(A)(i), and</text>
</clause><clause id="H421E88A85BEA42C8BC9078E8CEED10C"><enum>(iii)</enum><text>$1,250,000,000
for advanced coal-based generation technology projects the application for
which is submitted during the period described in paragraph
(2)(A)(ii).</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H1A4221AF8DB94700AC52765900224BBB"><enum>(2)</enum><header>Application
period for additional projects</header><text>Subparagraph (A) of section
48A(d)(2) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H967F92CDA598450ABBA14EF707EFB344" style="OLC">
<subparagraph id="HDF038BF954D444948D12F40195E5D2E1"><enum>(A)</enum><header>Application
period</header><text>Each applicant for certification under this paragraph
shall submit an application meeting the requirements of subparagraph (B). An
applicant may only submit an application—</text>
<clause id="H10A0E1E91C3847D3A761FCDBEBB234CF"><enum>(i)</enum><text>for an allocation
from the dollar amount specified in clause (i) or (ii) of paragraph (3)(B)
during the 3-year period beginning on the date the Secretary establishes the
program under paragraph (1), and</text>
</clause><clause id="H023A101D6BB7475489F18D51D3A1DC20"><enum>(ii)</enum><text>for an allocation
from the dollar amount specified in paragraph (3)(B)(iii) during the 3-year
period beginning at the earlier of the termination of the period described in
clause (i) or the date prescribed by the
Secretary.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H30AADA62EAE64BA28412F007C3FCAFF0"><enum>(3)</enum><header>Capture and
sequestration of carbon dioxide emissions requirement</header>
<subparagraph id="HC20BADC3C0174ADFAF09C193EE27ECA2"><enum>(A)</enum><header>In
general</header><text>Section 48A(e)(1) is amended by striking
<quote>and</quote> at the end of subparagraph (E), by striking the period at
the end of subparagraph (F) and inserting <quote>; and</quote>, and by adding
at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H476D1A9EAF9042D6910900ED5DE80358" style="OLC">
<subparagraph id="HE840760D2F7D44FF9CC2049D9727EBE6"><enum>(G)</enum><text>in the case of any
project the application for which is submitted during the period described in
subsection (d)(2)(A)(ii), the project includes equipment which separates and
sequesters at least 65 percent (70 percent in the case of an application for
reallocated credits under subsection (d)(4)) of such project's total carbon
dioxide
emissions.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="HE03105E2302A4451BF218E20CA48CA6"><enum>(B)</enum><header>Highest priority
for projects which sequester carbon dioxide emissions</header><text>Section
48A(e)(3) is amended by striking <quote>and</quote> at the end of subparagraph
(A)(iii), by striking the period at the end of subparagraph (B)(iii) and
inserting <quote>, and</quote>, and by adding at the end the following new
subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="HEA8BEAFAD6DD4D67BA3528DEF8B18400" style="OLC">
<subparagraph id="HD89AF03D295344A08FB4D10502977CF9"><enum>(C)</enum><text>give highest
priority to projects with the greatest separation and sequestration percentage
of total carbon dioxide
emissions.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="HDC6716A729E24DE7B12637D66C00395E"><enum>(C)</enum><header>Recapture of
credit for failure to sequester</header><text>Section 48A is amended by adding
at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="HA62754AF8E3941A2B1D1B3E92F2400FE" style="OLC">
<subsection id="H3AF3551B6FE047A4A830B51673BC886"><enum>(i)</enum><header>Recapture of
credit for failure To sequester</header><text>The Secretary shall provide for
recapturing the benefit of any credit allowable under subsection (a) with
respect to any project which fails to attain or maintain the separation and
sequestration requirements of subsection
(e)(1)(G).</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="H131A71792A624436B1503E667624EE89"><enum>(4)</enum><header>Additional
priority for research partnerships</header><text>Section 48A(e)(3)(B), as
amended by paragraph (3)(B), is amended—</text>
<subparagraph id="H7F8DB03478A44673B77F342EC94DB5A"><enum>(A)</enum><text>by striking
<quote>and</quote> at the end of clause (ii),</text>
</subparagraph><subparagraph id="H2C6D2E92B7BF4D88872CA0E2C3C9DDCF"><enum>(B)</enum><text>by redesignating
clause (iii) as clause (iv), and</text>
</subparagraph><subparagraph id="HF0059AEBBF104A1CB053EED97B95C2DB"><enum>(C)</enum><text>by inserting after
clause (ii) the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="HA2BE93A2FD12420580AF39B386E6EBD3" style="OLC">
<clause id="H9D5ACE24BEAF40CB9BF41D8E75611B94"><enum>(iii)</enum><text>applicant
participants who have a research partnership with an eligible educational
institution (as defined in section 529(e)(5)),
and</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="H68CEF7B37259450E9BE2B02E3CADD7D"><enum>(5)</enum><header>Clerical
amendment</header><text>Section 48A(e)(3) is amended by striking
<quote><header-in-text level="paragraph" style="OLC">integrated gasification
combined cycle</header-in-text></quote> in the heading and inserting
<quote><header-in-text level="paragraph" style="OLC">certain</header-in-text></quote>.</text>
</paragraph></subsection><subsection id="HCE4402460C464528AF53DB4D84F0FD4B"><enum>(d)</enum><header>Disclosure of
allocations</header><text>Section 48A(d) is amended by adding at the end the
following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HBD984F5238904D3D00C311B1F5E6A808" style="OLC">
<paragraph id="H2F85FFEB7AC7496F92322D7DCCBD6CE6"><enum>(5)</enum><header>Disclosure of
allocations</header><text display-inline="yes-display-inline">The Secretary
shall, upon making a certification under this subsection or section 48B(d),
publicly disclose the identity of the applicant and the amount of the credit
certified with respect to such
applicant.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H9214C5AB99EB49D8802DEF8CC9CC29B4"><enum>(e)</enum><header>Effective
dates</header>
<paragraph commented="no" display-inline="no-display-inline" id="HE0CBA397364A41D39B613B26A9F8AAD1"><enum>(1)</enum><header>In
general</header><text>Except as otherwise provided in this subsection, the
amendments made by this section shall apply to credits the application for
which is submitted during the period described in section 48A(d)(2)(A)(ii) of
the Internal Revenue Code of 1986 and which are allocated or reallocated after
the date of the enactment of this Act.</text>
</paragraph><paragraph id="H17D595D881E94C45950072F8D4BE4505"><enum>(2)</enum><header>Disclosure of
allocations</header><text>The amendment made by subsection (d) shall apply to
certifications made after the date of the enactment of this Act.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H335048694EB44B05A9314D9188E0010"><enum>(3)</enum><header>Clerical
amendment</header><text>The amendment made by subsection (c)(5) shall take
effect as if included in the amendment made by section 1307(b) of the Energy
Tax Incentives Act of 2005.</text>
</paragraph></subsection></section><section id="HCC1B62BBD4FC49C6A707481006A356BB"><enum>222.</enum><header>Expansion and
modification of coal gasification investment credit</header>
<subsection id="H29371141236848C08D05B19231CFAFC8"><enum>(a)</enum><header>Modification of
credit amount</header><text display-inline="yes-display-inline">Section 48B(a)
is amended by inserting <quote>(30 percent in the case of credits allocated
under subsection (d)(1)(B))</quote> after <quote>20 percent</quote>.</text>
</subsection><subsection id="H7A30C551ACD545F8AE98C600ED370000"><enum>(b)</enum><header>Expansion of
aggregate credits</header><text>Section 48B(d)(1) is amended by striking
<quote>shall not exceed $350,000,000</quote> and all that follows and
inserting</text>
<quoted-block display-inline="yes-display-inline" id="HB7B6074A98AE4ABDA3BFDB390000938B" style="OLC">
<text>shall not
exceed—</text><subparagraph id="H6170D7EB02584EFD9DE3D9E5B6D58F0"><enum>(A)</enum><text display-inline="yes-display-inline">$350,000,000, plus</text>
</subparagraph><subparagraph id="H455E250A2BF84A07A97F140093E9AEC4"><enum>(B)</enum><text>$250,000,000 for
qualifying gasification projects that include equipment which separates and
sequesters at least 75 percent of such project’s total carbon dioxide
emissions.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HB15562784CE54D559C1300EBA5C45506"><enum>(c)</enum><header>Recapture of
credit for failure To sequester</header><text>Section 48B is amended by adding
at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="H0F643D57773E441ABAFD061F84346EBF" style="OLC">
<subsection id="HA91700176F0244979547D76CD0C8CEF4"><enum>(f)</enum><header>Recapture of
credit for failure To sequester</header><text display-inline="yes-display-inline">The Secretary shall provide for recapturing
the benefit of any credit allowable under subsection (a) with respect to any
project which fails to attain or maintain the separation and sequestration
requirements for such project under subsection
(d)(1).</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HBA8335F141A34127B43EEF89EDD58D41"><enum>(d)</enum><header>Selection
priorities</header><text>Section 48B(d) is amended by adding at the end the
following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HB59EAEB44CB2424288FF4F6DF0B256BD" style="OLC">
<paragraph id="H14220C9BD8A444238DD396266936002B"><enum>(4)</enum><header>Selection
priorities</header><text display-inline="yes-display-inline">In determining
which qualifying gasification projects to certify under this section, the
Secretary shall—</text>
<subparagraph id="H6DBC7605069E4136AFF0B78478FAD73D"><enum>(A)</enum><text>give highest
priority to projects with the greatest separation and sequestration percentage
of total carbon dioxide emissions, and</text>
</subparagraph><subparagraph id="H6E3D3C2282C34FC1836C2DDCEFBC07EF"><enum>(B)</enum><text>give high priority
to applicant participants who have a research partnership with an eligible
educational institution (as defined in section
529(e)(5)).</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H9445C84A5A5745D98D532D833FE622EA"><enum>(e)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendments made by
this section shall apply to credits described in section 48B(d)(1)(B) of the
Internal Revenue Code of 1986 which are allocated or reallocated after the date
of the enactment of this Act.</text>
</subsection></section><section display-inline="no-display-inline" id="H040CACF996F240D781ADD65E8EEDBD8B" section-type="subsequent-section"><enum>223.</enum><header>Temporary increase
in coal excise tax</header><text display-inline="no-display-inline">Paragraph
(2) of section 4121(e) is amended—</text>
<paragraph id="H25F8354ECB0E46B6B07CE87D2DDF627C"><enum>(1)</enum><text>by striking
<quote>January 1, 2014</quote> in subparagraph (A) and inserting
<quote>December 31, 2018</quote>, and</text>
</paragraph><paragraph id="HA565C7C4672C4EAEAB56F9FC6F9499FB"><enum>(2)</enum><text>by striking
<quote>January 1 after 1981</quote> in subparagraph (B) and inserting
<quote>December 31 after 2007</quote>.</text>
</paragraph></section><section id="HA38FB90AD9A6426C9B94F28B57FD4787"><enum>224.</enum><header>Special rules
for refund of the coal excise tax to certain coal producers and
exporters</header>
<subsection id="HFC1CFA926CDC4787855E5FA41C3EB1E"><enum>(a)</enum><header>Refund</header>
<paragraph id="H7A7ECC11D4F44D9AAC08C5C4F8B75C2E"><enum>(1)</enum><header>Coal
producers</header>
<subparagraph id="HC5BA01F485A64640864584CF7969626B"><enum>(A)</enum><header>In
general</header><text>Notwithstanding subsections (a)(1) and (c) of section
6416 and section 6511 of the Internal Revenue Code of 1986, if—</text>
<clause id="H5C850480CDF647F90053C564C5046403"><enum>(i)</enum><text>a
coal producer establishes that such coal producer, or a party related to such
coal producer, exported coal produced by such coal producer to a foreign
country or shipped coal produced by such coal producer to a possession of the
United States, or caused such coal to be exported or shipped, the export or
shipment of which was other than through an exporter who meets the requirements
of paragraph (2),</text>
</clause><clause id="HB70DAAF027FE4D658EF0D5231D597A3"><enum>(ii)</enum><text>such
coal producer filed an excise tax return on or after October 1, 1990, and on or
before the date of the enactment of this Act, and</text>
</clause><clause id="H551877FAADFF4E18958CEBA221EE7E34"><enum>(iii)</enum><text>such coal
producer files a claim for refund with the Secretary not later than the close
of the 30-day period beginning on the date of the enactment of this Act,</text>
</clause><continuation-text continuation-text-level="subparagraph">then the
Secretary shall pay to such coal producer an amount equal to the tax paid under
section 4121 of such Code on such coal exported or shipped by the coal producer
or a party related to such coal producer, or caused by the coal producer or a
party related to such coal producer to be exported or shipped.</continuation-text></subparagraph><subparagraph id="HE1C6148322B6484E96AFB9CABB00FB00"><enum>(B)</enum><header>Special rules
for certain taxpayers</header><text>For purposes of this section—</text>
<clause id="HF050E41443E54AE09863BB9B9D983492"><enum>(i)</enum><header>In
general</header><text>If a coal producer or a party related to a coal producer
has received a judgment described in clause (iii), such coal producer shall be
deemed to have established the export of coal to a foreign country or shipment
of coal to a possession of the United States under subparagraph (A)(i).</text>
</clause><clause id="HDD080110206F46CC852C1085062B8D8E"><enum>(ii)</enum><header>Amount of
payment</header><text>If a taxpayer described in clause (i) is entitled to a
payment under subparagraph (A), the amount of such payment shall be reduced by
any amount paid pursuant to the judgment described in clause (iii).</text>
</clause><clause id="H6E88597C49F64910BD573CD479BDA047"><enum>(iii)</enum><header>Judgment
described</header><text>A judgment is described in this subparagraph if such
judgment—</text>
<subclause id="H9A3940B24C7B47A285CCB0A22BB2FC32"><enum>(I)</enum><text>is made by a court
of competent jurisdiction within the United States,</text>
</subclause><subclause id="H7B14838B6AFF4359A81418EB2C791EFD"><enum>(II)</enum><text>relates to the
constitutionality of any tax paid on exported coal under section 4121 of the
Internal Revenue Code of 1986, and</text>
</subclause><subclause id="H53C91BF4298840CA966FB62E48BFA9B"><enum>(III)</enum><text>is in favor of
the coal producer or the party related to the coal producer.</text>
</subclause></clause></subparagraph></paragraph><paragraph id="H4972C8D7ED444E75B89BA3A3E79E314C"><enum>(2)</enum><header>Exporters</header><text>Notwithstanding
subsections (a)(1) and (c) of section 6416 and section 6511 of the Internal
Revenue Code of 1986, and a judgment described in paragraph (1)(B)(iii) of this
subsection, if—</text>
<subparagraph id="H380EAB7A47E64AB7A5FD976077ED5357"><enum>(A)</enum><text>an exporter
establishes that such exporter exported coal to a foreign country or shipped
coal to a possession of the United States, or caused such coal to be so
exported or shipped,</text>
</subparagraph><subparagraph id="HD2F9EC2E4D774E6F89305E5B6B6B3715"><enum>(B)</enum><text>such exporter
filed a tax return on or after October 1, 1990, and on or before the date of
the enactment of this Act, and</text>
</subparagraph><subparagraph id="H5AA833CE4ED1426AB13C295C61EEC0F2"><enum>(C)</enum><text>such exporter
files a claim for refund with the Secretary not later than the close of the
30-day period beginning on the date of the enactment of this Act,</text>
</subparagraph><continuation-text continuation-text-level="paragraph">then the
Secretary shall pay to such exporter an amount equal to $0.825 per ton of such
coal exported by the exporter or caused to be exported or shipped, or caused to
be exported or shipped, by the exporter.</continuation-text></paragraph></subsection><subsection id="H4B0D1D63ECC543A9AF560641D8EF33E1"><enum>(b)</enum><header>Limitations</header><text>Subsection
(a) shall not apply with respect to exported coal if a settlement with the
Federal Government has been made with and accepted by, the coal producer, a
party related to such coal producer, or the exporter, of such coal, as of the
date that the claim is filed under this section with respect to such exported
coal. For purposes of this subsection, the term <term>settlement with the
Federal Government</term> shall not include any settlement or stipulation
entered into as of the date of the enactment of this Act, the terms of which
contemplate a judgment concerning which any party has reserved the right to
file an appeal, or has filed an appeal.</text>
</subsection><subsection id="H531E42DA9D03430CA53CD05AC5E4EDD"><enum>(c)</enum><header>Subsequent refund
prohibited</header><text>No refund shall be made under this section to the
extent that a credit or refund of such tax on such exported or shipped coal has
been paid to any person.</text>
</subsection><subsection id="H5D9B88DD9BFD41078F8D8CB1D4449E4B"><enum>(d)</enum><header>Definitions</header><text>For
purposes of this section—</text>
<paragraph id="HD4F849EBCBD0495FA58CC799CB1C3825"><enum>(1)</enum><header>Coal
producer</header><text>The term <term>coal producer</term> means the person in
whom is vested ownership of the coal immediately after the coal is severed from
the ground, without regard to the existence of any contractual arrangement for
the sale or other disposition of the coal or the payment of any royalties
between the producer and third parties. The term includes any person who
extracts coal from coal waste refuse piles or from the silt waste product which
results from the wet washing (or similar processing) of coal.</text>
</paragraph><paragraph id="H9B6BF32489B34AF39BA130C257EA5815"><enum>(2)</enum><header>Exporter</header><text>The
term <term>exporter</term> means a person, other than a coal producer, who does
not have a contract, fee arrangement, or any other agreement with a producer or
seller of such coal to export or ship such coal to a third party on behalf of
the producer or seller of such coal and—</text>
<subparagraph id="HF33A37E33D2A4EECBC0891612C4EDB23"><enum>(A)</enum><text>is indicated in
the shipper’s export declaration or other documentation as the exporter of
record, or</text>
</subparagraph><subparagraph id="HB35F1E506112477CB8232BC0CD634C64"><enum>(B)</enum><text>actually exported
such coal to a foreign country or shipped such coal to a possession of the
United States, or caused such coal to be so exported or shipped.</text>
</subparagraph></paragraph><paragraph id="HD5DBEAD020CA4406BA2B692F3E13605D"><enum>(3)</enum><header>Related
party</header><text>The term <term>a party related to such coal producer</term>
means a person who—</text>
<subparagraph id="HA31FE8C177A446C78270008CBBF93858"><enum>(A)</enum><text>is related to such
coal producer through any degree of common management, stock ownership, or
voting control,</text>
</subparagraph><subparagraph id="HAB1BD746094A46D0A8E0F263FEA0DEF"><enum>(B)</enum><text>is related (within
the meaning of section 144(a)(3) of the Internal Revenue Code of 1986) to such
coal producer, or</text>
</subparagraph><subparagraph id="H5425C3FA6EA04D17889765CBFA1D6843"><enum>(C)</enum><text>has a contract,
fee arrangement, or any other agreement with such coal producer to sell such
coal to a third party on behalf of such coal producer.</text>
</subparagraph></paragraph><paragraph id="H06F0561DB1634FF096BC2CC60000C5AD"><enum>(4)</enum><header>Secretary</header><text>The
term <term>Secretary</term> means the Secretary of Treasury or the Secretary's
designee.</text>
</paragraph></subsection><subsection id="HE401DDD91FC54938AA85CB01B4C13019"><enum>(e)</enum><header>Timing of
refund</header><text>With respect to any claim for refund filed pursuant to
this section, the Secretary shall determine whether the requirements of this
section are met not later than 180 days after such claim is filed. If the
Secretary determines that the requirements of this section are met, the claim
for refund shall be paid not later than 180 days after the Secretary makes such
determination.</text>
</subsection><subsection id="H5B1858712A444344992FD368E89B8E8E"><enum>(f)</enum><header>Interest</header><text>Any
refund paid pursuant to this section shall be paid by the Secretary with
interest from the date of overpayment determined by using the overpayment rate
and method under section 6621 of the Internal Revenue Code of 1986.</text>
</subsection><subsection id="HA6D92194C7A641B2B3001EE77D732366"><enum>(g)</enum><header>Denial of double
benefit</header><text>The payment under subsection (a) with respect to any coal
shall not exceed—</text>
<paragraph id="H45559A14F75541679E76F31A11735C9"><enum>(1)</enum><text>in
the case of a payment to a coal producer, the amount of tax paid under section
4121 of the Internal Revenue Code of 1986 with respect to such coal by such
coal producer or a party related to such coal producer, and</text>
</paragraph><paragraph id="H51CE20AD35F84476AC4CB73F83028009"><enum>(2)</enum><text>in the case of a
payment to an exporter, an amount equal to $0.825 per ton with respect to such
coal exported by the exporter or caused to be exported by the exporter.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HDC3DF9B2DD6849AAA73F2CCB249BEB03"><enum>(h)</enum><header display-inline="yes-display-inline">Application of section</header><text display-inline="yes-display-inline">This section applies only to claims on coal
exported or shipped on or after October 1, 1990, through the date of the
enactment of this Act.</text>
</subsection><subsection id="HFC31A8995D9044B684954E86000457B4"><enum>(i)</enum><header>Standing not
conferred</header>
<paragraph id="HABC56F2E71EE418287EC25BC3029C690"><enum>(1)</enum><header>Exporters</header><text>With
respect to exporters, this section shall not confer standing upon an exporter
to commence, or intervene in, any judicial or administrative proceeding
concerning a claim for refund by a coal producer of any Federal or State tax,
fee, or royalty paid by the coal producer.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H480230B633F54DEDBCBDC54FBD7E91E8"><enum>(2)</enum><header>Coal
producers</header><text>With respect to coal producers, this section shall not
confer standing upon a coal producer to commence, or intervene in, any judicial
or administrative proceeding concerning a claim for refund by an exporter of
any Federal or State tax, fee, or royalty paid by the producer and alleged to
have been passed on to an exporter.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="H864148CE02874C9287CDA9A1667813FB" section-type="subsequent-section"><enum>225.</enum><header>Carbon audit of the
tax code</header>
<subsection id="H4A3E9569F65F4801873D791F235EC39B"><enum>(a)</enum><header>Study</header><text display-inline="yes-display-inline">The Secretary of the Treasury shall enter
into an agreement with the National Academy of Sciences to undertake a
comprehensive review of the Internal Revenue Code of 1986 to identify the types
of and specific tax provisions that have the largest effects on carbon and
other greenhouse gas emissions and to estimate the magnitude of those
effects.</text>
</subsection><subsection id="HEE6FD7288C234A6D8D939B96F73C6BD"><enum>(b)</enum><header>Report</header><text display-inline="yes-display-inline">Not later than 2 years after the date of
enactment of this Act, the National Academy of Sciences shall submit to
Congress a report containing the results of study authorized under this
section.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H4DF1067359204FE8876BC7AD16ED6B70"><enum>(c)</enum><header>Authorization of
appropriations</header><text>There is authorized to be appropriated to carry
out this section $1,500,000 for the period of fiscal years 2008 and
2009.</text>
</subsection></section></subtitle><subtitle id="H9FEB79D6C6C441F192DF005CF9000"><enum>D</enum><header>Transportation and
domestic fuel security provisions</header>
<section id="HFA3C95CE3A0C44978C00315E2BCBCA00"><enum>231.</enum><header>Inclusion of
cellulosic biofuel in bonus depreciation for biomass ethanol plant
property</header>
<subsection id="H8F7922C514B24C76BA42FE10B701D"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Paragraph (3) of
section 168(l) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H53A950BA60E94626AFA567C057949516" style="OLC">
<paragraph id="H99E491112498442F85AFA8E3008FAE02"><enum>(3)</enum><header>Cellulosic
biofuel</header><text display-inline="yes-display-inline">The term
<term>cellulosic biofuel</term> means any liquid fuel which is produced from
any lignocellulosic or hemicellulosic matter that is available on a renewable
or recurring
basis.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H8E09387715424B80997EAA50114CC5AD"><enum>(b)</enum><header>Conforming
amendments</header><text display-inline="yes-display-inline">Subsection (l) of
section 168 is amended—</text>
<paragraph id="H8A83C9E79CEA459C8D5F5F0416C2F700"><enum>(1)</enum><text display-inline="yes-display-inline">by striking <quote>cellulosic biomass
ethanol</quote> each place it appears and inserting <quote>cellulosic
biofuel</quote>,</text>
</paragraph><paragraph id="H0E084954534A44F0AAFC1D76556E42ED"><enum>(2)</enum><text>by striking
<quote><header-in-text level="subsection" style="OLC">cellulosic biomass
ethanol</header-in-text></quote> in the heading of such subsection and
inserting <quote><header-in-text level="subsection" style="OLC">cellulosic
biofuel</header-in-text></quote>, and</text>
</paragraph><paragraph id="H749F77DFB5694872AF41C120EF47819D"><enum>(3)</enum><text display-inline="yes-display-inline">by striking <quote><header-in-text level="paragraph" style="OLC">cellulosic biomass
ethanol</header-in-text></quote> in the heading of paragraph (2) thereof and
inserting <quote><header-in-text level="paragraph" style="OLC">cellulosic
biofuel</header-in-text></quote>.</text>
</paragraph></subsection><subsection id="HB420AA76F8364E2C9F5E6878DC8EA039"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act, in taxable years
ending after such date.</text>
</subsection></section><section display-inline="no-display-inline" id="HE5D59A293B7D43D7B7FC82E822DCD500" section-type="subsequent-section"><enum>232.</enum><header>Credits for
biodiesel and renewable diesel</header>
<subsection id="H2CE8855EA4C14F99B19445887B4F6797"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Sections 40A(g),
6426(c)(6), and 6427(e)(5)(B) are each amended by striking <quote>December 31,
2008</quote> and inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection id="HE5442FB9FB944CD9859EBBC8BBDCF586"><enum>(b)</enum><header>Increase in rate
of credit</header>
<paragraph id="H120F3E90709E4EB0945D8D6E926BBA5"><enum>(1)</enum><header>Income tax
credit</header><text>Paragraphs (1)(A) and (2)(A) of section 40A(b) are each
amended by striking <quote>50 cents</quote> and inserting
<quote>$1.00</quote>.</text>
</paragraph><paragraph id="H5AB7AAC5C9954F32B1EB5246A6EB4B6C"><enum>(2)</enum><header>Excise tax
credit</header><text>Paragraph (2) of section 6426(c) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="HB1AF18F50E954152BBC7FD982EB200C2" style="OLC">
<paragraph id="H89BE6902B6B243D4BEE661F105CC6059"><enum>(2)</enum><header>Applicable
amount</header><text display-inline="yes-display-inline">For purposes of this
subsection, the applicable amount is
$1.00.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HA1D8BA6E041B473F81B66B83A2C43CD"><enum>(3)</enum><header>Conforming
amendments</header>
<subparagraph id="H86AAC6620E7C4BABA3CF418F6A44855"><enum>(A)</enum><text display-inline="yes-display-inline">Subsection (b) of section 40A is amended by
striking paragraph (3) and by redesignating paragraphs (4) and (5) as
paragraphs (3) and (4), respectively.</text>
</subparagraph><subparagraph id="HD9C02340228F416E8BC449F121B9DFBB"><enum>(B)</enum><text>Paragraph (2) of
section 40A(f) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HDDCB6989FB124499BC3041ED52C45800" style="OLC">
<paragraph id="HD0D33E9E215642A9A1D51756BE46EA7"><enum>(2)</enum><header>Exception</header><text display-inline="yes-display-inline">Subsection (b)(4) shall not apply with
respect to renewable
diesel.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="H38ED0F7AC761421B80000073AADF6845"><enum>(C)</enum><text>Paragraphs (2) and
(3) of section 40A(e) are each amended by striking <quote>subsection
(b)(5)(C)</quote> and inserting <quote>subsection (b)(4)(C)</quote>.</text>
</subparagraph><subparagraph id="HA3870FCEC79B492891003B735290D3A"><enum>(D)</enum><text>Clause (ii) of
section 40A(d)(3)(C) is amended by striking <quote>subsection (b)(5)(B)</quote>
and inserting <quote>subsection (b)(4)(B)</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="HFA956D9D77DC4422A684F823D6D5B14E"><enum>(c)</enum><header>Uniform
treatment of diesel produced from biomass</header><text>Paragraph (3) of
section 40A(f) is amended—</text>
<paragraph id="H596593014726465CB84D92D9E25F45B"><enum>(1)</enum><text>by
striking <quote>diesel fuel</quote> and inserting <quote>liquid
fuel</quote>,</text>
</paragraph><paragraph id="H61B1AC81E9DB4FE7A661FAEFFBEE88C"><enum>(2)</enum><text>by
striking <quote>using a thermal depolymerization process</quote>, and</text>
</paragraph><paragraph id="HADC62D1E39D14DC9A7F255020786B2B0"><enum>(3)</enum><text>by striking
<quote>or D396</quote> in subparagraph (B) and inserting <quote>, D396, or
other equivalent standard approved by the Secretary</quote>.</text>
</paragraph></subsection><subsection display-inline="no-display-inline" id="H31F77317824E490C9F18055936EFA913"><enum>(d)</enum><header>Coproduction of
renewable diesel with petroleum feedstock</header>
<paragraph id="H654B848834B449E8A500524D1000A52D"><enum>(1)</enum><header>In
general</header><text>Paragraph (3) of section 40A(f) (defining renewable
diesel) is amended by adding at the end the following new sentence: <quote>Such
term does not include any fuel derived from coprocessing biomass with a
feedstock which is not biomass. For purposes of this paragraph, the term
<term>biomass</term> has the meaning given such term by section
45K(c)(3).</quote>.</text>
</paragraph><paragraph id="H9721D740726D4ADDA739738B25D22283"><enum>(2)</enum><header>Conforming
amendment</header><text>Paragraph (3) of section 40A(f) is amended by striking
<quote>(as defined in section 45K(c)(3))</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H231319129CED47358D1BAAB977208BEF"><enum>(e)</enum><header>Eligibility of
certain aviation fuel</header><text>Paragraph (3) of section 40A(f) (defining
renewable diesel) is amended by adding at the end the following: <quote>The
term <term>renewable diesel</term> also means fuel derived from biomass which
meets the requirements of a Department of Defense specification for military
jet fuel or an American Society of Testing and Materials specification for
aviation turbine fuel.</quote>.</text>
</subsection><subsection id="H9EA127B381D14281B238A15055F28578"><enum>(f)</enum><header>Effective
date</header>
<paragraph id="H9D7A968728B34A94BB1F00F95006922"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Except as otherwise
provided in this subsection, the amendments made by this section shall apply to
fuel produced, and sold or used, after December 31, 2008.</text>
</paragraph><paragraph id="H273004D520794B52B3634EAC7DB1FA9"><enum>(2)</enum><header>Coproduction of
renewable diesel with petroleum feedstock</header><text>The amendments made by
subsection (d) shall apply to fuel produced, and sold or used, after the date
of the enactment of this Act.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="H16EFCB00D8094FE8935B5D144BE9FAD" section-type="subsequent-section"><enum>233.</enum><header>Clarification that
credits for fuel are designed to provide an incentive for United States
production</header>
<subsection display-inline="no-display-inline" id="id3A7BD231E1D741A7B22A3EBD939C7D04"><enum>(a)</enum><header>Alcohol fuels
credit</header><text>Paragraph (6) of section 40(d) is amended to read as
follows:</text>
<quoted-block act-name="" id="id8F7C123D5A1D4BBF8999D7A765A90FE7" style="OLC">
<paragraph id="idF1A5A239360F454999833951165008E5"><enum>(6)</enum><header>Limitation to
alcohol with connection to the United States</header><text>No credit shall be
determined under this section with respect to any alcohol which is produced
outside the United States for use as a fuel outside the United States. For
purposes of this paragraph, the term <term>United States</term> includes any
possession of the United
States.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H7EB5E8ACF2DF407E88C6D7C15100B4FA"><enum>(b)</enum><header>Biodiesel fuels
credit</header><text>Subsection (d) of section 40A is amended by adding at the
end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H77CA12CF33984EFE85580000B01B42DC" style="OLC">
<paragraph commented="no" id="HD1D51F2F24A148EFA87B1C6C0089D17D"><enum>(5)</enum><header>Limitation to
biodiesel with connection to the United States</header><text display-inline="yes-display-inline">No credit shall be determined under this
section with respect to any biodiesel which is produced outside the United
States for use as a fuel outside the United States. For purposes of this
paragraph, the term <term>United States</term> includes any possession of the
United
States.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HF67C2B1E04554713A392CE98BE3E5227"><enum>(c)</enum><header>Excise tax
credit</header>
<paragraph id="HBECE8537608441BF91866F76ABB6BF70"><enum>(1)</enum><header>In
general</header><text>Section 6426 is amended by adding at the end the
following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="H3779C00AB6BB460E00EA38D17E8B12F8" style="OLC">
<subsection commented="no" id="H0E0EEC0DACBC4248B0A412543EFC7F01"><enum>(i)</enum><header>Limitation to
fuels with connection to the United States</header>
<paragraph id="HE56F17B30D524727005C4D5CF7A58BF"><enum>(1)</enum><header>Alcohol</header><text display-inline="yes-display-inline">No credit shall be determined under this
section with respect to any alcohol which is produced outside the United States
for use as a fuel outside the United States.</text>
</paragraph><paragraph id="HC8B9925B701542408BF34CACB46850CE"><enum>(2)</enum><header>Biodiesel and
alternative fuels</header><text display-inline="yes-display-inline">No credit
shall be determined under this section with respect to any biodiesel or
alternative fuel which is produced outside the United States for use as a fuel
outside the United States.</text>
</paragraph><continuation-text continuation-text-level="subsection">For
purposes of this subsection, the term <term>United States</term> includes any
possession of the United
States.</continuation-text></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="HC74B65DC7E9C4807943087CC2452D32"><enum>(2)</enum><header>Conforming
amendment</header><text>Subsection (e) of section 6427 is amended by
redesignating paragraph (5) as paragraph (6) and by inserting after paragraph
(4) the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HAEBF7E4F98444F67B9E347FAC6901825" style="OLC">
<paragraph commented="no" id="H464649C0230E4E52826D50F0577070B5"><enum>(5)</enum><header>Limitation to
fuels with connection to the United States</header><text>No amount shall be
payable under paragraph (1) or (2) with respect to any mixture or alternative
fuel if credit is not allowed with respect to such mixture or alternative fuel
by reason of section
6426(i).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" id="H675D9DBD9CA84DBBB15ED04C340009C6"><enum>(d)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendments made by
this section shall apply to claims for credit or payment made on or after May
15, 2008.</text>
</subsection></section><section display-inline="no-display-inline" id="HA5F47A0C7E564794AE461EFA00825791" section-type="subsequent-section"><enum>234.</enum><header>Credit for new
qualified plug-in electric drive motor vehicles</header>
<subsection id="HAA76FA0330124C7F9BECA24CFFA0EFA9"><enum>(a)</enum><header>In
general</header><text>Subpart B of part IV of subchapter A of chapter 1 is
amended by adding at the end the following new section:</text>
<quoted-block id="H4B8247D634AD4285BDC83CA0511D19F6">
<section id="HFC95C9FC236D4E36976CD7A6ADBD00C1"><enum>30D.</enum><header>New qualified
plug-in electric drive motor vehicles</header>
<subsection id="H3CECC3EEF90749188DC95E3C7468C680"><enum>(a)</enum><header>Allowance of
credit</header><text>There shall be allowed as a credit against the tax imposed
by this chapter for the taxable year an amount equal to the sum of the credit
amounts determined under subsection (b) with respect to each new qualified
plug-in electric drive motor vehicle placed in service by the taxpayer during
the taxable year.</text>
</subsection><subsection id="HB81EAF38CC2540ACBB2411436C9CDCD4"><enum>(b)</enum><header>Per vehicle
dollar limitation</header>
<paragraph id="H223B0CE0165F4F9C8BD5E72B569925BC"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">The amount determined
under this subsection with respect to any new qualified plug-in electric drive
motor vehicle is the sum of the amounts determined under paragraphs (2) and (3)
with respect to such vehicle.</text>
</paragraph><paragraph id="H7C97452EF3C3436D812F76DB8790875B"><enum>(2)</enum><header>Base
amount</header><text>The amount determined under this paragraph is
$3,000.</text>
</paragraph><paragraph id="HDCA05C10E5C344AEBB42924CA2E637D9"><enum>(3)</enum><header>Battery
capacity</header><text display-inline="yes-display-inline">In the case of a
vehicle which draws propulsion energy from a battery with not less than 5
kilowatt hours of capacity, the amount determined under this paragraph is $200,
plus $200 for each kilowatt hour of capacity in excess of 5 kilowatt hours. The
amount determined under this paragraph shall not exceed $2,000.</text>
</paragraph></subsection><subsection display-inline="no-display-inline" id="H747A94CD336646B5BF7CF6158DD600B"><enum>(c)</enum><header>Application with
other credits</header>
<paragraph commented="no" id="HEDA73EAB48534E05B17EBA957CA5DA4F"><enum>(1)</enum><header>Business credit
treated as part of general business credit</header><text display-inline="yes-display-inline">So much of the credit which would be
allowed under subsection (a) for any taxable year (determined without regard to
this subsection) that is attributable to property of a character subject to an
allowance for depreciation shall be treated as a credit listed in section 38(b)
for such taxable year (and not allowed under subsection (a)).</text>
</paragraph><paragraph id="HA56356D2D891487E82490077AACD92B2"><enum>(2)</enum><header>Personal
credit</header>
<subparagraph id="H3E01D8B7A7984F50A7F697EE79B35680"><enum>(A)</enum><header>In
general</header><text>For purposes of this title, the credit allowed under
subsection (a) for any taxable year (determined after application of paragraph
(1)) shall be treated as a credit allowable under subpart A for such taxable
year.</text>
</subparagraph><subparagraph id="H3B85F5588F3B430C846B41828E298E43"><enum>(B)</enum><header>Limitation based
on amount of tax</header><text>In the case of a taxable year to which section
26(a)(2) does not apply, the credit allowed under subsection (a) for any
taxable year (determined after application of paragraph (1)) shall not exceed
the excess of—</text>
<clause id="HCE815BF413BF4D27975FE0DA62816837"><enum>(i)</enum><text>the sum of the
regular tax liability (as defined in section 26(b)) plus the tax imposed by
section 55, over</text>
</clause><clause id="HA9F4019A25F24955BE00E813B8140375"><enum>(ii)</enum><text>the sum of the
credits allowable under subpart A (other than this section and sections 23 and
25D) and section 27 for the taxable year.</text>
</clause></subparagraph></paragraph></subsection><subsection display-inline="no-display-inline" id="H95FF5C1E951F4F3F958C511D6C4D06F7"><enum>(d)</enum><header>New qualified
plug-In electric drive motor vehicle</header><text>For purposes of this
section—</text>
<paragraph commented="no" display-inline="no-display-inline" id="H3029A74FB32748BFB14EBD5F05DDB357"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">The term <term>new
qualified plug-in electric drive motor vehicle</term> means a motor vehicle (as
defined in section 30(c)(2))—</text>
<subparagraph id="H80325B27C5914FE9BD00A0EDDF52BBEF"><enum>(A)</enum><text>the original use
of which commences with the taxpayer,</text>
</subparagraph><subparagraph id="HF3723295121446D486ADD24BDFB7BEA1"><enum>(B)</enum><text>which is acquired
for use or lease by the taxpayer and not for resale,</text>
</subparagraph><subparagraph id="HAAC615A4FA29480EA5EAE4F3A2499A9"><enum>(C)</enum><text>which is made by a
manufacturer,</text>
</subparagraph><subparagraph id="HC85B89CAF2FE439C826D0008AF23F64"><enum>(D)</enum><text display-inline="yes-display-inline">which has a gross vehicle weight rating of
less than 14,000 pounds,</text>
</subparagraph><subparagraph id="H5002700BC91545A1A4E200074915846B"><enum>(E)</enum><text display-inline="yes-display-inline">which has received a certificate of
conformity under the Clean Air Act and meets or exceeds the Bin 5 Tier II
emission standard established in regulations prescribed by the Administrator of
the Environmental Protection Agency under section 202(i) of the Clean Air Act
for that make and model year vehicle, and</text>
</subparagraph><subparagraph id="H712EF046B5F24C8E94E23E72E831A2DE"><enum>(F)</enum><text>which is propelled
to a significant extent by an electric motor which draws electricity from a
battery which—</text>
<clause id="H11DC7EB5A9CD4D73884BADEE8C08F0C"><enum>(i)</enum><text>has
a capacity of not less than 4 kilowatt hours, and</text>
</clause><clause id="H118AC0427FDB4F2A8400D3C067C583D4"><enum>(ii)</enum><text>is capable of
being recharged from an external source of electricity.</text>
</clause></subparagraph></paragraph><paragraph id="H6A9843531C0846A88035D511DD2B69BF"><enum>(2)</enum><header>Exception</header><text display-inline="yes-display-inline">The term <term>new qualified plug-in
electric drive motor vehicle</term> shall not include any vehicle which is not
a passenger automobile or light truck if such vehicle has a gross vehicle
weight rating of less than 8,500 pounds.</text>
</paragraph><paragraph id="H9BE70F0AF4EE4D5DA949E8D61BDF7166"><enum>(3)</enum><header>Other
terms</header><text display-inline="yes-display-inline">The terms
<term>passenger automobile</term>, <term>light truck</term>, and
<term>manufacturer</term> have the meanings given such terms in regulations
prescribed by the Administrator of the Environmental Protection Agency for
purposes of the administration of title II of the Clean Air Act (42 U.S.C. 7521
et seq.).</text>
</paragraph><paragraph id="H7B87793944E0432097375614359E9C8B"><enum>(4)</enum><header>Battery
capacity</header><text display-inline="yes-display-inline">The term
<term>capacity</term> means, with respect to any battery, the quantity of
electricity which the battery is capable of storing, expressed in kilowatt
hours, as measured from a 100 percent state of charge to a 0 percent state of
charge.</text>
</paragraph></subsection><subsection display-inline="no-display-inline" id="HEE03E96AFA60432EB5B0A20E9696284"><enum>(e)</enum><header>Limitation on
number of new qualified plug-In electric drive motor vehicles eligible for
credit</header>
<paragraph id="H46C410D4E37F49EDB85D91302FD5F0CD"><enum>(1)</enum><header>In
general</header><text>In the case of a new qualified plug-in electric drive
motor vehicle sold during the phaseout period, only the applicable percentage
of the credit otherwise allowable under subsection (a) shall be allowed.</text>
</paragraph><paragraph id="H7FED9AE3CCA34DC2AA990037FFD6B2CB"><enum>(2)</enum><header>Phaseout
period</header><text display-inline="yes-display-inline">For purposes of this
subsection, the phaseout period is the period beginning with the second
calendar quarter following the calendar quarter which includes the first date
on which the number of new qualified plug-in electric drive motor vehicles
manufactured by the manufacturer of the vehicle referred to in paragraph (1)
sold for use in the United States after the date of the enactment of this
section, is at least 60,000.</text>
</paragraph><paragraph id="H91B40F6CD31448409F867ED80096171C"><enum>(3)</enum><header>Applicable
percentage</header><text display-inline="yes-display-inline">For purposes of
paragraph (1), the applicable percentage is—</text>
<subparagraph id="HFB3C66131B334A31B7BD1777A49141A1"><enum>(A)</enum><text>50 percent for the
first 2 calendar quarters of the phaseout period,</text>
</subparagraph><subparagraph id="HE97E029C1DEA4FB4A1A0552F6982B143"><enum>(B)</enum><text>25 percent for the
3d and 4th calendar quarters of the phaseout period, and</text>
</subparagraph><subparagraph id="H02B8086A2DEB4C8EA8E5E75182B78CA"><enum>(C)</enum><text>0 percent for each
calendar quarter thereafter.</text>
</subparagraph></paragraph><paragraph id="HBF6D74D34E964F5382ED43BF16E49138"><enum>(4)</enum><header>Controlled
groups</header><text>Rules similar to the rules of section 30B(f)(4) shall
apply for purposes of this subsection.</text>
</paragraph></subsection><subsection display-inline="no-display-inline" id="HF279B97810BD4A6598BD06A3DBBEE6"><enum>(f)</enum><header>Special
rules</header>
<paragraph id="H990B4C0569E74640B363108EA7167B5C"><enum>(1)</enum><header>Basis
reduction</header><text>The basis of any property for which a credit is
allowable under subsection (a) shall be reduced by the amount of such credit
(determined without regard to subsection (c)).</text>
</paragraph><paragraph id="H85D66E92BF034F628680C6205E112180"><enum>(2)</enum><header>Recapture</header><text>The
Secretary shall, by regulations, provide for recapturing the benefit of any
credit allowable under subsection (a) with respect to any property which ceases
to be property eligible for such credit.</text>
</paragraph><paragraph id="H8E2853831EBB4FC000F3B3764F8314E3"><enum>(3)</enum><header>Property used
outside United States, etc., not qualified</header><text>No credit shall be
allowed under subsection (a) with respect to any property referred to in
section 50(b)(1) or with respect to the portion of the cost of any property
taken into account under section 179.</text>
</paragraph><paragraph id="HF30947AC22904D1B86BB00E5E25CE2E6"><enum>(4)</enum><header>Election not to
take credit</header><text>No credit shall be allowed under subsection (a) for
any vehicle if the taxpayer elects to not have this section apply to such
vehicle.</text>
</paragraph><paragraph id="H034C485523C1432096FCA3006D87BCE4"><enum>(5)</enum><header>Property used by
tax-exempt entity; interaction with air quality and motor vehicle safety
standards</header><text>Rules similar to the rules of paragraphs (6) and (10)
of section 30B(h) shall apply for purposes of this
section.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection display-inline="no-display-inline" id="HA5E9B9C86BF14C02893531C39841ED58"><enum>(b)</enum><header>Coordination
with alternative motor vehicle credit</header><text>Section 30B(d)(3) is
amended by adding at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H05C6220911204C849386BADF9D8F1FEC" style="OLC">
<subparagraph id="H267D5B70DFBC459CA1C1718EFE3C3500"><enum>(D)</enum><header>Exclusion of
plug-in vehicles</header><text>Any vehicle with respect to which a credit is
allowable under section 30D (determined without regard to subsection (c)
thereof) shall not be taken into account under this
section.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id07EF45C150DB423D968E47AAFC912E3E"><enum>(c)</enum><header>Credit made
part of general business credit</header><text>Section 38(b) is amended by
striking <quote>plus</quote> at the end of paragraph (32), by striking the
period at the end of paragraph (33) and inserting <quote>plus</quote>, and by
adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="idBE29080998F845199CB8484D0DEC3B08" style="OLC">
<paragraph id="id23A3C0F5DC4E4B668DD5FFA281C3F105"><enum>(34)</enum><text>the portion of
the new qualified plug-in electric drive motor vehicle credit to which section
30D(c)(1)
applies.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection display-inline="no-display-inline" id="H6B34303B7C3E46B68F78A429B4758B30"><enum>(d)</enum><header>Conforming
amendments</header>
<paragraph id="H9EA99F2D51A5447496F02B18E5DCE811"><enum>(1)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H5006D90080D04C85B63DCA4258F1D469"><enum>(A)</enum><text>Section 24(b)(3)(B), as
amended by section 214, is amended by striking <quote>and 25D</quote> and
inserting <quote>25D, and 30D</quote>.</text>
</subparagraph><subparagraph id="H335918EA5B0B4394BE2471994091A8AF" indent="up1"><enum>(B)</enum><text>Section 25(e)(1)(C)(ii) is amended by
inserting <quote>30D,</quote> after <quote>25D,</quote>.</text>
</subparagraph><subparagraph id="H63ACFD1AD58341BB8B38B40534A05C12" indent="up1"><enum>(C)</enum><text>Section 25B(g)(2), as amended by
section 214, is amended by striking <quote>and 25D</quote> and inserting
<quote>, 25D, and 30D</quote>.</text>
</subparagraph><subparagraph id="H43991FA7913A4FFCA2007020DD10E96B" indent="up1"><enum>(D)</enum><text>Section 26(a)(1), as amended by
section 214, is amended by striking <quote>and 25D</quote> and inserting
<quote>25D, and 30D</quote>.</text>
</subparagraph><subparagraph id="H4864332B3DAF4D1A8C92B399D2F4A4E" indent="up1"><enum>(E)</enum><text>Section 1400C(d)(2) is amended by
striking <quote>and 25D</quote> and inserting <quote>25D, and
30D</quote>.</text>
</subparagraph></paragraph><paragraph id="H633955936C0D488FAE88AB35B7E5299B"><enum>(2)</enum><text>Section 1016(a) is
amended by striking <quote>and</quote> at the end of paragraph (35), by
striking the period at the end of paragraph (36) and inserting <quote>,
and</quote>, and by adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HB0890E8A59A94A809D6777032450E93F" style="OLC">
<paragraph id="HC05B93BB6398467EBBC1A6C91DC80800"><enum>(37)</enum><text>to the extent
provided in section
30D(f)(1).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HB3F15FF69D8E4B3ABC004DDA83955338"><enum>(3)</enum><text>Section 6501(m) is
amended by inserting <quote>30D(f)(4),</quote> after
<quote>30C(e)(5),</quote>.</text>
</paragraph><paragraph id="H516EE7AF728D45E7B0D32450234C0440"><enum>(4)</enum><text>The table of
sections for subpart B of part IV of subchapter A of chapter 1 is amended by
adding at the end the following new item:</text>
<quoted-block id="H6B67A9A9D2674122B869D872693255A7" style="OLC">
<toc>
<toc-entry level="section">Sec. 30D. New qualified plug-in electric
drive motor
vehicles.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H9ED3FF740AF14682A648B791711C25FE"><enum>(e)</enum><header>Treatment of
alternative motor vehicle credit as a personal credit</header>
<paragraph id="H869F38EAC3304BEAA56409F67349015F"><enum>(1)</enum><header>In
general</header><text>Paragraph (2) of section 30B(g) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="HB522C27E20B64184B7DD009C863BD466" style="OLC">
<paragraph id="HFF4417C8B1EB4D0C8920884EE58B9800"><enum>(2)</enum><header>Personal
credit</header><text display-inline="yes-display-inline">The credit allowed
under subsection (a) for any taxable year (after application of paragraph (1))
shall be treated as a credit allowable under subpart A for such taxable
year.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HF61330A9D2564B779F47017DEB8269B9"><enum>(2)</enum><header>Conforming
amendments</header>
<subparagraph id="H9F2043C6268D4C79A2A0C2B06B13FB8"><enum>(A)</enum><text display-inline="yes-display-inline">Subparagraph (A) of section 30C(d)(2) is
amended by striking <quote>sections 27, 30, and 30B</quote> and inserting
<quote>sections 27 and 30</quote>.</text>
</subparagraph><subparagraph id="HE276FFD5867142A0829D35144630CD78"><enum>(B)</enum><text>Paragraph (3) of
section 55(c) is amended by striking <quote>30B(g)(2),</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="H2611A23DD5AF4FBE9B253C317B6E4997"><enum>(f)</enum><header>Effective
date</header>
<paragraph id="H1338993E30544E729B88000086E0B4B1"><enum>(1)</enum><header>In
general</header><text>Except as otherwise provided in this subsection, the
amendments made by this section shall apply to taxable years beginning after
December 31, 2008.</text>
</paragraph><paragraph id="HA70396DF6595484BBAF6BDA8E300F2F"><enum>(2)</enum><header>Treatment of
alternative motor vehicle credit as personal credit</header><text>The
amendments made by subsection (e) shall apply to taxable years beginning after
December 31, 2007.</text>
</paragraph></subsection><subsection id="HBEBBFC3AE7D848E0863660F94FFE1CD4"><enum>(g)</enum><header>Application of
EGTRRA sunset</header><text>The amendment made by subsection (d)(1)(A) shall be
subject to title IX of the Economic Growth and Tax Relief Reconciliation Act of
2001 in the same manner as the provision of such Act to which such amendment
relates.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="HFB0E61DCA7E04BF8A124B4B3074333A2" section-type="subsequent-section"><enum>235.</enum><header>Exclusion from heavy
truck tax for idling reduction units and advanced insulation</header>
<subsection commented="no" display-inline="no-display-inline" id="H095C74B572874823820260D3435320B1"><enum>(a)</enum><header>In
general</header><text>Section 4053 is amended by adding at the end the
following new paragraphs:</text>
<quoted-block display-inline="no-display-inline" id="HA9E61EB34C7E4471ABB02B10F4300025" style="OLC">
<paragraph commented="no" id="HE678079B89B7408C8FD15DD9003FDC00"><enum>(9)</enum><header>Idling reduction
device</header><text>Any device or system of devices which—</text>
<subparagraph commented="no" id="H57F2676CE3944348AE38E4C83DC34C27"><enum>(A)</enum><text display-inline="yes-display-inline">is designed to provide to a vehicle those
services (such as heat, air conditioning, or electricity) that would otherwise
require the operation of the main drive engine while the vehicle is temporarily
parked or remains stationary using one or more devices affixed to a tractor,
and</text>
</subparagraph><subparagraph commented="no" id="H7BA2DAA30FC74E80AB27D76FAD991F9F"><enum>(B)</enum><text>is determined by
the Administrator of the Environmental Protection Agency, in consultation with
the Secretary of Energy and the Secretary of Transportation, to reduce idling
of such vehicle at a motor vehicle rest stop or other location where such
vehicles are temporarily parked or remain stationary.</text>
</subparagraph></paragraph><paragraph commented="no" id="HA685817D1AFB4230A3586D1879C2D65F"><enum>(10)</enum><header>Advanced
insulation</header><text>Any insulation that has an R value of not less than
R35 per
inch.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H039BC7343AE247BCAC9B19375499CE89"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to sales or
installations after the date of the enactment of this Act.</text>
</subsection></section><section display-inline="no-display-inline" id="HC7337FD74ACF48F2B0B61BFAD743106" section-type="subsequent-section"><enum>236.</enum><header>Transportation
fringe benefit to bicycle commuters</header>
<subsection id="H71D8AC8C985149F5A9FF463F29859ED"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 132(f) is amended by adding at
the end the following:</text>
<quoted-block id="H8EA0FC0300BA4B4FB71F7D56B44BF7AE">
<subparagraph id="H8EFFD45F2A0B4C0EB848EF70B975B6F6"><enum>(D)</enum><text>Any qualified
bicycle commuting
reimbursement.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H24A7801D526B4E7F8EA4CE9341FC79B3"><enum>(b)</enum><header>Limitation on
exclusion</header><text>Paragraph (2) of section 132(f) is amended by striking
<quote>and</quote> at the end of subparagraph (A), by striking the period at
the end of subparagraph (B) and inserting <quote>, and</quote>, and by adding
at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="HE9D1C660871A4870A29216F3A9980079" style="OLC">
<subparagraph id="H995E2AFB998444F7B865E8BFF33D200"><enum>(C)</enum><text>the applicable
annual limitation in the case of any qualified bicycle commuting
reimbursement.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H164E6054677B4CC59FDA62D083E37537"><enum>(c)</enum><header>Definitions</header><text>Paragraph
(5) of section 132(f) is amended by adding at the end the following:</text>
<quoted-block id="H4B428A588ADD460D9361FDE310D0D8B6">
<subparagraph id="HBFA643C380D44D0E9F68601FC938444F"><enum>(F)</enum><header>Definitions
related to bicycle commuting reimbursement</header>
<clause id="HAB08DA8301EF470B9DAB9EFF727D04E1"><enum>(i)</enum><header>Qualified
bicycle commuting reimbursement</header><text display-inline="yes-display-inline">The term <term>qualified bicycle commuting
reimbursement</term> means, with respect to any calendar year, any employer
reimbursement during the 15-month period beginning with the first day of such
calendar year for reasonable expenses incurred by the employee during such
calendar year for the purchase of a bicycle and bicycle improvements, repair,
and storage, if such bicycle is regularly used for travel between the
employee’s residence and place of employment.</text>
</clause><clause id="HF9C8D8F2078841CCA6A9C60351936599"><enum>(ii)</enum><header>Applicable
annual limitation</header><text>The term <term>applicable annual
limitation</term> means, with respect to any employee for any calendar year,
the product of $20 multiplied by the number of qualified bicycle commuting
months during such year.</text>
</clause><clause id="H2F7135934DC54658B6BBDE7FC800FBD8"><enum>(iii)</enum><header>Qualified
bicycle commuting month</header><text>The term <term>qualified bicycle
commuting month</term> means, with respect to any employee, any month during
which such employee—</text>
<subclause id="HEA19C7DF194947279CF9866D3C729361"><enum>(I)</enum><text display-inline="yes-display-inline">regularly uses the bicycle for a
substantial portion of the travel between the employee’s residence and place of
employment, and</text>
</subclause><subclause id="H3B4B5ED432464748A5C80800C6D0EF81"><enum>(II)</enum><text display-inline="yes-display-inline">does not receive any benefit described in
subparagraph (A), (B), or (C) of paragraph
(1).</text>
</subclause></clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H9A8F9E5660174B47827B622066FE008E"><enum>(d)</enum><header>Constructive
receipt of benefit</header><text>Paragraph (4) of section 132(f) is amended by
inserting <quote>(other than a qualified bicycle commuting
reimbursement)</quote> after <quote>qualified transportation
fringe</quote>.</text>
</subsection><subsection id="H6E7E59A02BDB4DDEA2005BC13CD5963F"><enum>(e)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2008.</text>
</subsection></section><section display-inline="no-display-inline" id="H4C36D41F64DA43129E0451276C3C50B4" section-type="subsequent-section"><enum>237.</enum><header>Alternative fuel
vehicle refueling property credit</header>
<subsection id="H6AE481CFFD35452B9FFB8D64FEDABF1B"><enum>(a)</enum><header>Increase in
credit amount</header><text>Section 30C is amended—</text>
<paragraph id="H2BF8D0328D554CEFBBB1C1A951A06E59"><enum>(1)</enum><text>by striking
<quote>30 percent</quote> in subsection (a) and inserting <quote>50
percent</quote>, and</text>
</paragraph><paragraph id="H391D58CF27F0409AAE5869EB129533CF"><enum>(2)</enum><text>by striking
<quote>$30,000</quote> in subsection (b)(1) and inserting
<quote>$50,000</quote>.</text>
</paragraph></subsection><subsection id="H464D81D53DB74B318D24EF90D4CFCA86"><enum>(b)</enum><header>Extension of
credit</header><text>Paragraph (2) of section 30C(g) is amended by striking
<quote>December 31, 2009</quote> and inserting <quote>December 31,
2010</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HBFA89197334641C5B336DAF4A0776E36"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act, in taxable years
ending after such date.</text>
</subsection></section></subtitle><subtitle id="H414080762C5D4FE5A9DEF9DF159BC947"><enum>E</enum><header>Energy
conservation and efficiency provisions</header>
<section id="H80762FAEA6B0411ABB9330954824B7F"><enum>241.</enum><header>Qualified energy
conservation bonds</header>
<subsection id="H366B4F2CDAC44C2780F395A5DABE3BE3"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subpart I of part IV
of subchapter A of chapter 1, as amended by section 216, is amended by adding
at the end the following new section:</text>
<quoted-block display-inline="no-display-inline" id="H84E4FF4893D849EB890056C916790067" style="OLC">
<section display-inline="no-display-inline" id="H85287BA9F6C54044A49405E9007B70A4" section-type="subsequent-section"><enum>54D.</enum><header>Qualified energy
conservation bonds</header>
<subsection id="H89184009FECE48419F19215216ECD1E"><enum>(a)</enum><header>Qualified energy
conservation bond</header><text>For purposes of this subchapter, the term
<term>qualified energy conservation bond</term> means any bond issued as part
of an issue if—</text>
<paragraph display-inline="no-display-inline" id="H8494B31DDA894D339CD8D86D93C1C8CF"><enum>(1)</enum><text>100 percent of the
available project proceeds of such issue are to be used for one or more
qualified conservation purposes,</text>
</paragraph><paragraph id="H708D321609D24FEC97B66900FA19AF61"><enum>(2)</enum><text>the bond is issued
by a State or local government, and</text>
</paragraph><paragraph id="H31CA2F97BCC744C68412F2E331919106"><enum>(3)</enum><text>the issuer
designates such bond for purposes of this section.</text>
</paragraph></subsection><subsection display-inline="no-display-inline" id="H8B7E22A52A8941FF86982D396C23E2FA"><enum>(b)</enum><header>Reduced credit
amount</header><text>The annual credit determined under section 54A(b) with
respect to any qualified energy conservation bond shall be 70 percent of the
amount so determined without regard to this subsection.</text>
</subsection><subsection display-inline="no-display-inline" id="HEE478747B17E4CEE8F0003B32FAD0685"><enum>(c)</enum><header>Limitation on
amount of bonds designated</header><text>The maximum aggregate face amount of
bonds which may be designated under subsection (a) by any issuer shall not
exceed the limitation amount allocated to such issuer under subsection
(e).</text>
</subsection><subsection id="H446046B19D6C40C08DF9B05E21FF7274"><enum>(d)</enum><header>National
limitation on amount of bonds designated</header><text>There is a national
qualified energy conservation bond limitation of $3,000,000,000.</text>
</subsection><subsection id="H694DE299D4AD43DAB8AF563C4E10C7A8"><enum>(e)</enum><header>Allocations</header>
<paragraph id="H6303F183B8FA432A9D1F00D061113FB7"><enum>(1)</enum><header>In
general</header><text>The limitation applicable under subsection (d) shall be
allocated by the Secretary among the States in proportion to the population of
the States.</text>
</paragraph><paragraph id="HB61F28231DBC45AC9448487F0065965B"><enum>(2)</enum><header>Allocations to
largest local governments</header>
<subparagraph id="HA171DE4961434D3A83894D4E279D8503"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">In the case of any
State in which there is a large local government, each such local government
shall be allocated a portion of such State’s allocation which bears the same
ratio to the State’s allocation (determined without regard to this
subparagraph) as the population of such large local government bears to the
population of such State.</text>
</subparagraph><subparagraph id="H6D9E1F239D2641579FEC6B91075D9162"><enum>(B)</enum><header>Allocation of
unused limitation to State</header><text>The amount allocated under this
subsection to a large local government may be reallocated by such local
government to the State in which such local government is located.</text>
</subparagraph><subparagraph id="H256C0E22BB4E4D05B8635EB6241BE00"><enum>(C)</enum><header>Large local
government</header><text>For purposes of this section, the term <term>large
local government</term> means any municipality or county if such municipality
or county has a population of 100,000 or more.</text>
</subparagraph></paragraph><paragraph id="H4BEF0B18F35E43C0B6E9361100D726F7"><enum>(3)</enum><header>Allocation to
issuers; restriction on private activity bonds</header><text>Any allocation
under this subsection to a State or large local government shall be allocated
by such State or large local government to issuers within the State in a manner
that results in not less than 70 percent of the allocation to such State or
large local government being used to designate bonds which are not private
activity bonds.</text>
</paragraph></subsection><subsection id="HF8DA9102D8ED4C8A86800021D0664F92"><enum>(f)</enum><header>Qualified
conservation purpose</header><text>For purposes of this section—</text>
<paragraph id="H04C628095E134DC8B5B8C3205EA00B8"><enum>(1)</enum><header>In
general</header><text>The term <term>qualified conservation purpose</term>
means any of the following:</text>
<subparagraph id="H1E7D707CE7DE48CC8CC41F944533DC77"><enum>(A)</enum><text display-inline="yes-display-inline">Capital expenditures incurred for purposes
of—</text>
<clause id="H29F93D7CA5D7477590BCE0D66817FA1C"><enum>(i)</enum><text>reducing energy
consumption in publicly-owned buildings by at least 20 percent,</text>
</clause><clause id="HEE36442EFFE540B58CAC35E6AB2B6D8F"><enum>(ii)</enum><text>implementing
green community programs,</text>
</clause><clause id="HFBAA2C29445C4B34B988AF93D6FEC000"><enum>(iii)</enum><text>rural
development involving the production of electricity from renewable energy
resources, or</text>
</clause><clause id="H4B2841014A134D618011B2A7F0B7A100"><enum>(iv)</enum><text>any qualified
facility (as determined under section 45(d) without regard to paragraphs (8)
and (10) thereof and without regard to any placed in service date).</text>
</clause></subparagraph><subparagraph id="HCC1A91ED1DF94987AF39EA59B66F7BB"><enum>(B)</enum><text>Expenditures with
respect to research facilities, and research grants, to support research
in—</text>
<clause id="HCCB16B51EFC840A3B338347682CEAA64"><enum>(i)</enum><text>development of
cellulosic ethanol or other nonfossil fuels,</text>
</clause><clause id="H24D96FFCB49043019C067C5213BDBF86"><enum>(ii)</enum><text>technologies for
the capture and sequestration of carbon dioxide produced through the use of
fossil fuels,</text>
</clause><clause id="H584597BECF6047B28B1866FA32A80226"><enum>(iii)</enum><text>increasing the
efficiency of existing technologies for producing nonfossil fuels,</text>
</clause><clause id="H3A3F4A15CBB9499A8006043BBB1899D3"><enum>(iv)</enum><text>automobile
battery technologies and other technologies to reduce fossil fuel consumption
in transportation, or</text>
</clause><clause id="H1AF35082D1AE4623B3A018D7570009CD"><enum>(v)</enum><text>technologies to
reduce energy use in buildings.</text>
</clause></subparagraph><subparagraph id="H15039A0AB1FA4D3F83767E725DD550AC"><enum>(C)</enum><text>Mass commuting
facilities and related facilities that reduce the consumption of energy,
including expenditures to reduce pollution from vehicles used for mass
commuting.</text>
</subparagraph><subparagraph id="HDF72D343679443F0BAC251F8DC964B1B"><enum>(D)</enum><text>Demonstration
projects designed to promote the commercialization of—</text>
<clause id="HB02EBF58984A46E38DCD39F46489ABB9"><enum>(i)</enum><text>green building
technology,</text>
</clause><clause id="H0FE7E8F635CD42B9B1506140B4361EFF"><enum>(ii)</enum><text>conversion of
agricultural waste for use in the production of fuel or otherwise,</text>
</clause><clause id="HFB0347AF0C5249E58847727F37FB43D5"><enum>(iii)</enum><text>advanced battery
manufacturing technologies,</text>
</clause><clause id="H87D57173C02141F490988C94A180DAA5"><enum>(iv)</enum><text>technologies to
reduce peak use of electricity, or</text>
</clause><clause id="H23FC4B6BF134457BB588B9FCFA2A2D"><enum>(v)</enum><text>technologies for the
capture and sequestration of carbon dioxide emitted from combusting fossil
fuels in order to produce electricity.</text>
</clause></subparagraph><subparagraph id="H82B3DDA0908747D5A62F845FF9645E63"><enum>(E)</enum><text>Public education
campaigns to promote energy efficiency.</text>
</subparagraph></paragraph><paragraph id="H6FBE4571B8D24A3693E788C5A409E1A0"><enum>(2)</enum><header>Special rules
for private activity bonds</header><text>For purposes of this section, in the
case of any private activity bond, the term <term>qualified conservation
purposes</term> shall not include any expenditure which is not a capital
expenditure.</text>
</paragraph></subsection><subsection id="H92A2DC3A29074B00882411C5DF993761"><enum>(g)</enum><header>Population</header>
<paragraph id="H2CA13D0C475B45BC8094F618FA409E3E"><enum>(1)</enum><header>In
general</header><text>The population of any State or local government shall be
determined for purposes of this section as provided in section 146(j) for the
calendar year which includes the date of the enactment of this section.</text>
</paragraph><paragraph id="H41B7B2B6F97149A3A2A53E57162EDF8B"><enum>(2)</enum><header>Special rule for
counties</header><text>In determining the population of any county for purposes
of this section, any population of such county which is taken into account in
determining the population of any municipality which is a large local
government shall not be taken into account in determining the population of
such county.</text>
</paragraph></subsection><subsection display-inline="no-display-inline" id="HB6368F76FD8F4BC49F8670A080D35FE9"><enum>(h)</enum><header>Application to
Indian tribal governments</header><text>An Indian tribal government shall be
treated for purposes of this section in the same manner as a large local
government, except that—</text>
<paragraph id="HFA35678B9C3141B389BE5E7452AE346"><enum>(1)</enum><text>an Indian tribal
government shall be treated for purposes of subsection (e) as located within a
State to the extent of so much of the population of such government as resides
within such State, and</text>
</paragraph><paragraph id="H80063981B4EC4B5498BE9EA73B9530ED"><enum>(2)</enum><text>any bond issued by
an Indian tribal government shall be treated as a qualified energy conservation
bond only if issued as part of an issue the available project proceeds of which
are used for purposes for which such Indian tribal government could issue bonds
to which section 103(a)
applies.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H8FBDBE71CE3E4736ACC35ECE65BEC5D5"><enum>(b)</enum><header>Conforming
amendments</header>
<paragraph id="H9C898EAC256A476D96F46841D7E66D8C"><enum>(1)</enum><text>Paragraph (1) of
section 54A(d), as amended by section 216, is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="H55DD93BB35824961BA63AB09112FCC9C" style="OLC">
<paragraph commented="no" id="HE08BE88BA86046E79FDBB677EDE61350"><enum>(1)</enum><header>Qualified tax
credit bond</header><text>The term <term>qualified tax credit bond</term>
means—</text>
<subparagraph commented="no" id="id79BA94FFA8E24FBA9361E8B0B8615CF9"><enum>(A)</enum><text>a qualified
forestry conservation bond,</text>
</subparagraph><subparagraph id="H30E9F49A76874024005C00002DB2C582"><enum>(B)</enum><text>a new clean
renewable energy bond, or</text>
</subparagraph><subparagraph id="H11D8708E4AFE42A4BE7775271204DBB1"><enum>(C)</enum><text>a qualified energy
conservation bond,</text>
</subparagraph><continuation-text continuation-text-level="paragraph">which is
part of an issue that meets requirements of paragraphs (2), (3), (4), (5), and
(6).</continuation-text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HB064D25FEA114B35B57BEAC0022D900"><enum>(2)</enum><text>Subparagraph (C) of
section 54A(d)(2), as amended by section 216, is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="H2A247C96C92D445496F4D9AB661104CC" style="OLC">
<subparagraph commented="no" id="HD72F349C246C410B9193B1B9A5B1086B"><enum>(C)</enum><header>Qualified
purpose</header><text>For purposes of this paragraph, the term <term>qualified
purpose</term> means—</text>
<clause commented="no" id="id2946387A02FE4A41823C8B26C1AB011C"><enum>(i)</enum><text>in the case of a
qualified forestry conservation bond, a purpose specified in section
54B(e),</text>
</clause><clause id="H5D9D44559B244B76A321F69D5118B1C3"><enum>(ii)</enum><text>in the case of a
new clean renewable energy bond, a purpose specified in section 54C(a)(1),
and</text>
</clause><clause id="HBF0DF86E47AE4D5392D7582FA300375E"><enum>(iii)</enum><text>in the case of a
qualified energy conservation bond, a purpose specified in section
54D(a)(1).</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H0A5B065D13A24F66AC007FA0E6508FA"><enum>(3)</enum><text display-inline="yes-display-inline">The table of sections for subpart I of part
IV of subchapter A of chapter 1 is amended by adding at the end the following
new item:</text>
<quoted-block display-inline="no-display-inline" id="HEE986F1AC7604181BD50AF0791DAE3FD" style="OLC">
<toc container-level="quoted-block-container" idref="H84E4FF4893D849EB890056C916790067" lowest-bolded-level="division-lowest-bolded" lowest-level="section" quoted-block="no-quoted-block" regeneration="yes-regeneration">
<toc-entry idref="H85287BA9F6C54044A49405E9007B70A4" level="section">Sec. 54D. Qualified energy conservation
bonds.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="HEF36F5327CE0441A819EAB2FA5BEE7D4"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
obligations issued after the date of the enactment of this Act.</text>
</subsection></section><section display-inline="no-display-inline" id="HE3FC351DFD65445383E7492946B7A155" section-type="subsequent-section"><enum>242.</enum><header>Credit for
nonbusiness energy property</header>
<subsection commented="no" id="H8A11E37B09064EA6A3A9DFBE1FB2D00"><enum>(a)</enum><header>Extension of
credit</header><text display-inline="yes-display-inline">Section 25C(g) is
amended by striking <quote>December 31, 2007</quote> and inserting
<quote>December 31, 2008</quote>.</text>
</subsection><subsection id="HCCD43C36D3924ACCB3C733A06316F351"><enum>(b)</enum><header>Qualified
biomass fuel property</header>
<paragraph id="H8411EFDEE2B64C13A622B4D6474B0205"><enum>(1)</enum><header>In
general</header><text>Section 25C(d)(3) is amended—</text>
<subparagraph id="H8A719566C3F24D3CB51C5E3C8875F1F0"><enum>(A)</enum><text>by striking
<quote>and</quote> at the end of subparagraph (D),</text>
</subparagraph><subparagraph id="H7E636F6DFDD443F3A4854FA3DD897470"><enum>(B)</enum><text>by striking the
period at the end of subparagraph (E) and inserting <quote>, and</quote>,
and</text>
</subparagraph><subparagraph id="H38D94E65D3FF485EA514EB6314520095"><enum>(C)</enum><text>by adding at the
end the following new subparagraph:</text>
<quoted-block act-name="" id="HD259A568896E47AEB6E031BAF3A20013" style="OLC">
<subparagraph id="HE89CE77FF7E24398A5D63955A772CCFC"><enum>(F)</enum><text>a stove—</text>
<clause id="id96D1B5FBC12D40BC90DE68CF4036125F"><enum>(i)</enum><text>which uses the
burning of biomass fuel—</text>
<subclause id="idAA06A8F76F1F4CE88D81F3C946549B8B"><enum>(I)</enum><text>to heat a
dwelling unit located in the United States and used as a residence by the
taxpayer, or</text>
</subclause><subclause id="id345A50F64BE241849ADBC0E17C0D58E6"><enum>(II)</enum><text>to heat water
for use in such a dwelling unit, and</text>
</subclause></clause><clause id="id8E9E2BF083FF4271821F14EFBF9F69B7"><enum>(ii)</enum><text>which—</text>
<subclause id="idEC54C9F9335C4C41B2C94BFEA9C6F103"><enum>(I)</enum><text>has a thermal
efficiency rating of at least 75 percent, or</text>
</subclause><subclause id="id264705EC9DBD43059BD693EEF6B27FBA"><enum>(II)</enum><text>is a wood stove
which meets the standards of performance for new residential wood heaters under
subpart AAA of part 60 of subchapter C of chapter I of title 40, Code of
Federal Regulations (or a successor
regulation).</text>
</subclause></clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph commented="no" id="H7039DBEC3FBB4799B1B55F43151FE75E"><enum>(2)</enum><header>Biomass
fuel</header><text>Section 25C(d) is amended by adding at the end the following
new paragraph:</text>
<quoted-block act-name="" id="H37AD937145844C570037128DCC227E15" style="OLC">
<paragraph commented="no" id="H6A38CBDFD1C344C1A21D9378BD538D86"><enum>(6)</enum><header>Biomass
fuel</header><text>The term <term>biomass fuel</term> means any plant-derived
fuel available on a renewable or recurring basis, including agricultural crops
and trees, wood and wood waste and residues (including wood pellets), plants
(including aquatic plants), grasses, residues, and
fibers.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H34D7444BA7E84220A2EA9740C1DA72BC"><enum>(c)</enum><header>Coordination
with credit for qualified geothermal heat Pump property expenditures</header>
<paragraph id="HF873EA2C1AF64F7389A674376C5C1FDB"><enum>(1)</enum><header>In
general</header><text>Paragraph (3) of section 25C(d), as amended by subsection
(b), is amended by striking subparagraph (C) and by redesignating subparagraphs
(D), (E), and (F) as subparagraphs (C), (D), and (E), respectively.</text>
</paragraph><paragraph id="H9D43AF099E7F484189C1E4F35300A828"><enum>(2)</enum><header>Conforming
amendment</header><text>Subparagraph (C) of section 25C(d)(2) is amended to
read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H5AC68A0B288248A0A312775464F28CF3" style="OLC">
<subparagraph id="H6F2B2DB86BDD473697D06DAB06D8436"><enum>(C)</enum><header>Requirements and
standards for air conditioners and heat pumps</header><text display-inline="yes-display-inline">The standards and requirements prescribed
by the Secretary under subparagraph (B) with respect to the energy efficiency
ratio (EER) for central air conditioners and electric heat pumps—</text>
<clause id="HF0B9F7A5DD214304A446799D4BC7EAD5"><enum>(i)</enum><text>shall require
measurements to be based on published data which is tested by manufacturers at
95 degrees Fahrenheit, and</text>
</clause><clause id="H5608373826B04D779E48C2FA34FCA6B"><enum>(ii)</enum><text>may be based on
the certified data of the Air Conditioning and Refrigeration Institute that are
prepared in partnership with the Consortium for Energy
Efficiency.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="idD009D835B76B4483A75E0D7C2E6FA0FA"><enum>(d)</enum><header>Modification of
qualified energy efficiency improvements</header>
<paragraph commented="no" display-inline="no-display-inline" id="id29F7A278CD8044DC81E8F379D9A12145"><enum>(1)</enum><header>In
general</header><text>Paragraph (1) of section 25C(c) is amended by inserting
<quote>, or an asphalt roof with appropriate cooling granules,</quote> before
<quote>which meet the Energy Star program requirements</quote>.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id1E8EF059EF9240C69A0A7D45216F5025"><enum>(2)</enum><header>Building
envelope component</header><text>Subparagraph (D) of section 25C(c)(2) is
amended—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id145D76697CBC4C989E9EC1CF16A1A272"><enum>(A)</enum><text>by inserting
<quote>or asphalt roof</quote> after <quote>metal roof</quote>, and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idF2E63964448E492885E0E6216A6B6776"><enum>(B)</enum><text>by inserting
<quote>or cooling granules</quote> after <quote>pigmented
coatings</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="HB3625A44EF9241FD86D2C6B74EF84DB1"><enum>(e)</enum><header>Effective
dates</header>
<paragraph id="id822A6E5D479E4C01B6E9A0E8CDB570C2"><enum>(1)</enum><header>In
general</header><text>Except as provided in paragraph (2), the amendments made
this section shall apply to expenditures made after December 31, 2007.</text>
</paragraph><paragraph id="idC48938BF5DC2434CB58A353F74A8CE3C"><enum>(2)</enum><header>Modification of
qualified energy efficiency improvements</header><text>The amendments made by
subsection (d) shall apply to property placed in service after the date of the
enactment of this Act.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="HA43A73ADCA924CBB8588CDE8E328B48F" section-type="subsequent-section"><enum>243.</enum><header>Energy efficient
commercial buildings deduction</header><text display-inline="no-display-inline">Subsection (h) of section 179D is amended by
striking <quote>December 31, 2008</quote> and inserting <quote>December 31,
2013</quote>.</text>
</section><section display-inline="no-display-inline" id="HC8E7F079ECF4414EAC1D586F39A3646C" section-type="subsequent-section"><enum>244.</enum><header>Modifications of
energy efficient appliance credit for appliances produced after 2007</header>
<subsection id="H7A8530BA2257493283E8EDB77838BB1B"><enum>(a)</enum><header>In
general</header><text>Subsection (b) of section 45M is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="HE05CD649346843E8BCCEDF8945A0C263" style="OLC">
<subsection id="HAF358754003E41C4B98691AE590F534"><enum>(b)</enum><header>Applicable
amount</header><text>For purposes of subsection (a)—</text>
<paragraph id="H0236C851612943AF8CDD530072D8F6F5"><enum>(1)</enum><header>Dishwashers</header><text>The
applicable amount is—</text>
<subparagraph id="H04D9C6591D23423D901BCF0074BD8C00"><enum>(A)</enum><text>$45 in the case of
a dishwasher which is manufactured in calendar year 2008 or 2009 and which uses
no more than 324 kilowatt hours per year and 5.8 gallons per cycle, and</text>
</subparagraph><subparagraph id="H1D92D0F645F9485086DE56511E00F487"><enum>(B)</enum><text>$75 in the case of
a dishwasher which is manufactured in calendar year 2008, 2009, or 2010 and
which uses no more than 307 kilowatt hours per year and 5.0 gallons per cycle
(5.5 gallons per cycle for dishwashers designed for greater than 12 place
settings).</text>
</subparagraph></paragraph><paragraph id="H397C3360ADCA420D9EDCCB633E212933"><enum>(2)</enum><header>Clothes
washers</header><text>The applicable amount is—</text>
<subparagraph id="H0AD9890093EA4ADD9B1C243D6DF1B875"><enum>(A)</enum><text>$75 in the case of
a residential top-loading clothes washer manufactured in calendar year 2008
which meets or exceeds a 1.72 modified energy factor and does not exceed a 8.0
water consumption factor,</text>
</subparagraph><subparagraph id="H5BE2CF3901B84B8DAF225FBBC8B98B00"><enum>(B)</enum><text>$125 in the case
of a residential top-loading clothes washer manufactured in calendar year 2008
or 2009 which meets or exceeds a 1.8 modified energy factor and does not exceed
a 7.5 water consumption factor,</text>
</subparagraph><subparagraph id="HE3FD3B5C50B3480AAE1755F92200EB99"><enum>(C)</enum><text>$150 in the case
of a residential or commercial clothes washer manufactured in calendar year
2008, 2009, or 2010 which meets or exceeds 2.0 modified energy factor and does
not exceed a 6.0 water consumption factor, and</text>
</subparagraph><subparagraph id="HE10CEB853A6E4C4590185EAF5D31A4D4"><enum>(D)</enum><text>$250 in the case
of a residential or commercial clothes washer manufactured in calendar year
2008, 2009, or 2010 which meets or exceeds 2.2 modified energy factor and does
not exceed a 4.5 water consumption factor.</text>
</subparagraph></paragraph><paragraph id="H19A81C7DAF0243DF928567DBC3CA7594"><enum>(3)</enum><header>Refrigerators</header><text>The
applicable amount is—</text>
<subparagraph id="H1691B27D033A4909AAEFAB90C7EA77A3"><enum>(A)</enum><text>$50 in the case of
a refrigerator which is manufactured in calendar year 2008, and consumes at
least 20 percent but not more than 22.9 percent less kilowatt hours per year
than the 2001 energy conservation standards,</text>
</subparagraph><subparagraph id="H2513A6F0846644BEA0BF96C6F2C4C65C"><enum>(B)</enum><text>$75 in the case of
a refrigerator which is manufactured in calendar year 2008 or 2009, and
consumes at least 23 percent but no more than 24.9 percent less kilowatt hours
per year than the 2001 energy conservation standards,</text>
</subparagraph><subparagraph id="H15525DBA115546C9902BFE097E6B10A8"><enum>(C)</enum><text>$100 in the case
of a refrigerator which is manufactured in calendar year 2008, 2009, or 2010,
and consumes at least 25 percent but not more than 29.9 percent less kilowatt
hours per year than the 2001 energy conservation standards, and</text>
</subparagraph><subparagraph id="H5B8230A8B759407A8C691D8BADA1C527"><enum>(D)</enum><text>$200 in the case
of a refrigerator manufactured in calendar year 2008, 2009, or 2010 and which
consumes at least 30 percent less energy than the 2001 energy conservation
standards.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HF4C45125D54741849BF365DDAD85E6D"><enum>(b)</enum><header>Eligible
production</header>
<paragraph id="H8F461CD0CFDF4363ADF7C94FDC1DBDE5"><enum>(1)</enum><header>Similar
treatment for all appliances</header><text>Subsection (c) of section 45M is
amended—</text>
<subparagraph id="H74DF31B6FEDD470895D127AF96E2AD2E"><enum>(A)</enum><text>by striking
paragraph (2),</text>
</subparagraph><subparagraph id="HA6149FE0C5684FE990688BFDD4CE10DF"><enum>(B)</enum><text>by striking
<quote>(1) <header-in-text level="paragraph" style="OLC">In
general</header-in-text></quote> and all that follows through <quote>the
eligible</quote> and inserting <quote>The eligible</quote>,</text>
</subparagraph><subparagraph id="H8924E7024B8C475CBC74D46C2797FDD0"><enum>(C)</enum><text>by moving the text
of such subsection in line with the subsection heading, and</text>
</subparagraph><subparagraph id="H61AE2584659A498BB02EAD003B922BEC"><enum>(D)</enum><text>by redesignating
subparagraphs (A) and (B) as paragraphs (1) and (2), respectively, and by
moving such paragraphs 2 ems to the left.</text>
</subparagraph></paragraph><paragraph id="HA6385C08513848C4AA96C57FAA9FAB89"><enum>(2)</enum><header>Modification of
base period</header><text>Paragraph (2) of section 45M(c), as amended by
paragraph (1), is amended by striking <quote>3-calendar year</quote> and
inserting <quote>2-calendar year</quote>.</text>
</paragraph></subsection><subsection id="H52748707465248D2B42396A7D6D24B65"><enum>(c)</enum><header>Types of energy
efficient appliances</header><text>Subsection (d) of section 45M (defining
types of energy efficient appliances) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HB3B2ED0D48F74FED8000842040B3805D" style="OLC">
<subsection id="HFEEC3BE3E33E465C94E25297E6A168A2"><enum>(d)</enum><header>Types of energy
efficient appliance</header><text display-inline="yes-display-inline">For
purposes of this section, the types of energy efficient appliances are—</text>
<paragraph id="H284D70819E604EAB92DF58A74E44C296"><enum>(1)</enum><text>dishwashers
described in subsection (b)(1),</text>
</paragraph><paragraph id="HD76B62456DC8413A856F2E0020EE5834"><enum>(2)</enum><text>clothes washers
described in subsection (b)(2), and</text>
</paragraph><paragraph id="HD7DC761C243A43FCBFBE8578A9D31B42"><enum>(3)</enum><text>refrigerators
described in subsection
(b)(3).</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HF006590DBEF648AB847CD8916DECAD29"><enum>(d)</enum><header>Aggregate credit
amount allowed</header>
<paragraph id="H7E9EFD7128FE4C1EB655A4729DBE78A7"><enum>(1)</enum><header>Increase in
limit</header><text>Paragraph (1) of section 45M(e) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="H181A2B4F4237435F98D02100751300D0" style="OLC">
<paragraph id="H565933B1EF3648B4B396E57F8F336120"><enum>(1)</enum><header>Aggregate credit
amount allowed</header><text display-inline="yes-display-inline">The aggregate
amount of credit allowed under subsection (a) with respect to a taxpayer for
any taxable year shall not exceed $75,000,000 reduced by the amount of the
credit allowed under subsection (a) to the taxpayer (or any predecessor) for
all prior taxable years beginning after December 31,
2007.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H201C6B2BEC9D443497F11FD203780888"><enum>(2)</enum><header>Exception for
certain refrigerator and clothes washers</header><text>Paragraph (2) of section
45M(e) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H74052D77A52D4F949C9EFCBB1E9413" style="OLC">
<paragraph id="HE0E7CAE264954D339F93C8BFE426DF63"><enum>(2)</enum><header>Amount allowed
for certain refrigerators and clothes washers</header><text display-inline="yes-display-inline">Refrigerators described in subsection
(b)(3)(D) and clothes washers described in subsection (b)(2)(D) shall not be
taken into account under paragraph
(1).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="HCB74DB392EB044E28C8B4B006DB4E6F6"><enum>(e)</enum><header>Qualified energy
efficient appliances</header>
<paragraph id="HF10AE3EFDA814E379DB44F25F75313D2"><enum>(1)</enum><header>In
general</header><text>Paragraph (1) of section 45M(f) (defining qualified
energy efficient appliance) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H68E5577F09C84FF692002FFE2029FEDF" style="OLC">
<paragraph id="H40E71B2B4CAD4D3FB93E3FAEC9CDFE12"><enum>(1)</enum><header>Qualified energy
efficient appliance</header><text display-inline="yes-display-inline">The term
<term>qualified energy efficient appliance</term> means—</text>
<subparagraph id="H12C9DF35EC7E42BEB5DAAF26D9370EB"><enum>(A)</enum><text display-inline="yes-display-inline">any dishwasher described in subsection
(b)(1),</text>
</subparagraph><subparagraph id="H68BC2936A87C47999D00BEDA329CC266"><enum>(B)</enum><text>any clothes washer
described in subsection (b)(2), and</text>
</subparagraph><subparagraph id="H46D76803708A4E18BCA63FD4EBDB1D0"><enum>(C)</enum><text>any refrigerator
described in subsection
(b)(3).</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HBB712A837DD044FFA37B4616E3C01910"><enum>(2)</enum><header>Clothes
washer</header><text>Section 45M(f)(3) is amended by inserting
<quote>commercial</quote> before <quote>residential</quote> the second place it
appears.</text>
</paragraph><paragraph id="HB775FF3417AC498A8B5D5DB046565F4F"><enum>(3)</enum><header>Top-loading
clothes washer</header><text>Subsection (f) of section 45M is amended by
redesignating paragraphs (4), (5), (6), and (7) as paragraphs (5), (6), (7),
and (8), respectively, and by inserting after paragraph (3) the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HBBCA6067CADD4A5A83288825AB879EF1" style="OLC">
<paragraph id="H93C952DF05FC43D3A4D0ADB7F18DAA82"><enum>(4)</enum><header>Top-loading
clothes washer</header><text display-inline="yes-display-inline">The term
<quote>top-loading clothes washer</quote> means a clothes washer which has the
clothes container compartment access located on the top of the machine and
which operates on a vertical
axis.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H5A7E980EBEAD46A196B1EE4B7F77DFB7"><enum>(4)</enum><header>Replacement of
energy factor</header><text>Section 45M(f)(6), as redesignated by paragraph
(3), is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HA6C493D947414564ADC3F6138442AF87" style="OLC">
<paragraph id="HC66F71AFCA4747FEAFE907A212FF09A8"><enum>(6)</enum><header>Modified energy
factor</header><text display-inline="yes-display-inline">The term
<term>modified energy factor</term> means the modified energy factor
established by the Department of Energy for compliance with the Federal energy
conservation
standard.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H42F95F9489D04CE1961E13D4786BFEA5"><enum>(5)</enum><header>Gallons per
cycle; water consumption factor</header><text>Section 45M(f), as amended by
paragraph (3), is amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="H1290DE2F2ED747EA9D2199E4271C19D5" style="OLC">
<paragraph id="H1A337CB4A80140E9A53E689B72EF2474"><enum>(9)</enum><header>Gallons per
cycle</header><text display-inline="yes-display-inline">The term <term>gallons
per cycle</term> means, with respect to a dishwasher, the amount of water,
expressed in gallons, required to complete a normal cycle of a
dishwasher.</text>
</paragraph><paragraph id="HC226D53CE29840E8A6B788E33F6BEA08"><enum>(10)</enum><header>Water
consumption factor</header><text display-inline="yes-display-inline">The term
<term>water consumption factor</term> means, with respect to a clothes washer,
the quotient of the total weighted per-cycle water consumption divided by the
cubic foot (or liter) capacity of the clothes
washer.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H28EF5B729B9445A99194C40065BE9E96"><enum>(f)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendments made by
this section shall apply to appliances produced after December 31, 2007.</text>
</subsection></section><section display-inline="no-display-inline" id="H932AF940B38544748B071E4D2E6EDE17" section-type="subsequent-section"><enum>245.</enum><header>Accelerated recovery
period for depreciation of smart meters and smart grid systems</header>
<subsection id="HD393F0B85F3D4BD5A9F89523D26168F6"><enum>(a)</enum><header>In
general</header><text>Section 168(e)(3)(D) is amended by striking
<quote>and</quote> at the end of clause (i), by striking the period at the end
of clause (ii) and inserting a comma, and by inserting after clause (ii) the
following new clauses:</text>
<quoted-block id="H0C1A422D4EEE4488AC8D2F3023B1F4B9" style="OLC">
<clause id="H2E63CDCB81854BE8AA8724CAF59D0000"><enum>(iii)</enum><text>any qualified
smart electric meter, and</text>
</clause><clause id="H47B869B83BA74054AF8C70C81F6F9E32"><enum>(iv)</enum><text>any qualified
smart electric grid
system.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H7B9AE5114A5145BBB1399EFA952B2DF6"><enum>(b)</enum><header>Definitions</header><text>Section
168(i) is amended by inserting at the end the following new paragraph:</text>
<quoted-block id="H3ECE9F181A3B48C6AFE67464815CB453" style="OLC">
<paragraph display-inline="no-display-inline" id="H43FB116E81A94CCDA1846274370028CE"><enum>(18)</enum><header>Qualified smart
electric meters</header>
<subparagraph id="H92DAE4AD0E7B4D25B894008D54EE66DD"><enum>(A)</enum><header>In
general</header><text>The term <term>qualified smart electric meter</term>
means any smart electric meter which is placed in service by a taxpayer who is
a supplier of electric energy or a provider of electric energy services.</text>
</subparagraph><subparagraph id="HCFE02749C31A455FB9D5AFA5BEA4A337"><enum>(B)</enum><header>Smart electric
meter</header><text>For purposes of subparagraph (A), the term <term>smart
electric meter</term> means any time-based meter and related communication
equipment which is capable of being used by the taxpayer as part of a system
that—</text>
<clause id="H7B97BC433FBD4D6C87E4DFC132ED851"><enum>(i)</enum><text>measures and
records electricity usage data on a time-differentiated basis in at least 24
separate time segments per day,</text>
</clause><clause id="HD90AA1A2D23C44ECABE5AB474C697DA0"><enum>(ii)</enum><text>provides for the
exchange of information between supplier or provider and the customer’s
electric meter in support of time-based rates or other forms of demand
response,</text>
</clause><clause id="HAD47F012CA704867A54EE79E958434DC"><enum>(iii)</enum><text>provides data to
such supplier or provider so that the supplier or provider can provide energy
usage information to customers electronically, and</text>
</clause><clause id="HB53FE2BB747B46C4B1F4EE065956E8B7"><enum>(iv)</enum><text>provides net
metering.</text>
</clause></subparagraph></paragraph><paragraph id="H536BBE8DA4994C68BCFAFC03E98592F2"><enum>(19)</enum><header>Qualified smart
electric grid systems</header>
<subparagraph id="H1534DF5D6ED147CEA5EA8513FA6C7461"><enum>(A)</enum><header>In
general</header><text>The term <quote>qualified smart electric grid
system</quote> means any smart grid property used as part of a system for
electric distribution grid communications, monitoring, and management placed in
service by a taxpayer who is a supplier of electric energy or a provider of
electric energy services.</text>
</subparagraph><subparagraph id="H446B80E9286547D095809200CCFB2914"><enum>(B)</enum><header>Smart grid
property</header><text>For the purposes of subparagraph (A), the term
<quote>smart grid property</quote> means electronics and related equipment that
is capable of—</text>
<clause id="H5D484E995F024FAD9EB40016870974BF"><enum>(i)</enum><text>sensing,
collecting, and monitoring data of or from all portions of a utility’s electric
distribution grid,</text>
</clause><clause id="H9AB2E2AD15814C18A8C5C8C88547FFB9"><enum>(ii)</enum><text>providing
real-time, two-way communications to monitor or manage such grid, and</text>
</clause><clause id="HB0398693920C42639432DCFC6D36F216"><enum>(iii)</enum><text>providing real
time analysis of and event prediction based upon collected data that can be
used to improve electric distribution system reliability, quality, and
performance.</text>
</clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H57A3C1B5C0104C1A9EBA53D6BBF45904"><enum>(c)</enum><header>Continued
application of 150 percent declining balance method</header><text>Paragraph (2)
of section 168(b) is amended by striking <quote>or</quote> at the end of
subparagraph (B), by redesignating subparagraph (C) as subparagraph (D), and by
inserting after subparagraph (B) the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="HA56163C017464AC1AE00A4DDCD688FE" style="OLC">
<subparagraph id="H8199F31299844A218DC103EC44ABDE94"><enum>(C)</enum><text display-inline="yes-display-inline">any property (other than property described
in paragraph (3)) which is a qualified smart electric meter or qualified smart
electric grid system,
or</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H582C79F53BC943C0A9A618044C36FE59"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.</text>
</subsection></section><section id="HC8238A1A7B2446C8A6CF242C9A6BC6"><enum>246.</enum><header>Qualified green
building and sustainable design projects</header>
<subsection id="H302C3724BA57428785F2432DBEB028B7"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Paragraph (8) of
section 142(l) is amended by striking <quote>September 30, 2009</quote> and
inserting <quote>September 30, 2012</quote>.</text>
</subsection><subsection id="H3E9D484C61AA45CF9754C1AA44622738"><enum>(b)</enum><header>Treatment of
current refunding bonds</header><text>Paragraph (9) of section 142(l) is
amended by striking <quote>October 1, 2009</quote> and inserting <quote>October
1, 2012</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HEEEEA6FA3C794A39B43E72E5655631D0"><enum>(c)</enum><header>Accountability</header><text>The
second sentence of section 701(d) of the American Jobs Creation Act of 2004 is
amended by striking <quote>issuance,</quote> and inserting <quote>issuance of
the last issue with respect to such project,</quote>.</text>
</subsection></section></subtitle>