[Federal Register Volume 78, Number 64 (Wednesday, April 3, 2013)]
[Notices]
[Pages 20176-20177]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-07773]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Credit for Renewable Electricity Production, Refined Coal
Production, and Indian Coal Production, and Publication of Inflation
Adjustment Factors and Reference Prices for Calendar Year 2013
AGENCY: Internal Revenue Service (IRS), Treasury.
[[Page 20177]]
ACTION: Publication of inflation adjustment factors and reference
prices for calendar year 2013 as required by section 45(e)(2)(A) of the
Internal Revenue Code (26 U.S.C. 45(e)(2)(A)), section 45(e)(8)(C) (26
U.S.C. 45(e)(8)(C)), and section 45(e)(10)(C) (26 U.S.C. 45(e)(10)(C)).
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SUMMARY: The 2013 inflation adjustment factors and reference prices are
used in determining the availability of the credit for renewable
electricity production, refined coal production, and Indian coal
production under section 45.
DATES: The 2013 inflation adjustment factors and reference prices apply
to calendar year 2013 sales of kilowatt hours of electricity produced
in the United States or a possession thereof from qualified energy
resources, and to 2013 sales of refined coal and Indian coal produced
in the United States or a possession thereof.
Inflation Adjustment Factors: The inflation adjustment factor for
calendar year 2013 for qualified energy resources and refined coal is
1.5063. The inflation adjustment factor for Indian coal is 1.1538.
Reference Prices: The reference price for calendar year 2013 for
facilities producing electricity from wind is 4.53 cents per kilowatt
hour. The reference prices for fuel used as feedstock within the
meaning of section 45(c)(7)(A) (relating to refined coal production)
are $31.90 per ton for calendar year 2002 and $58.23 per ton for
calendar year 2013. The reference prices for facilities producing
electricity from closed-loop biomass, open-loop biomass, geothermal
energy, solar energy, small irrigation power, municipal solid waste,
qualified hydropower production, and marine and hydrokinetic renewable
energy have not been determined for calendar year 2013.
Because the 2013 reference price for electricity produced from wind
does not exceed 8 cents multiplied by the inflation adjustment factor,
the phaseout of the credit provided in section 45(b)(1) does not apply
to such electricity sold during calendar year 2013. Because the 2013
reference price of fuel used as feedstock for refined coal ($58.23)
does not exceed the $31.90 reference price of such fuel in 2002
multiplied by the inflation adjustment factor and 1.7, the phaseout of
credit provided in section 45(e)(8)(B) does not apply to refined coal
sold during calendar year 2013. Further, for electricity produced from
closed-loop biomass, open-loop biomass, geothermal energy, solar
energy, small irrigation power, municipal solid waste, qualified
hydropower production, and marine and hydrokinetic renewable energy,
the phaseout of credit provided in section 45(b)(1) does not apply to
such electricity sold during calendar year 2013.
Credit Amount by Qualified Energy Resource and Facility, Refined
Coal, and Indian Coal: As required by section 45(b)(2), the 1.5-cent
amount in section 45(a)(1), the 8-cent amount in section 45(b)(1), the
$4.375 amount in section 45(e)(8)(A), and the $2.00 amount in section
45(e)(8)(D) are each adjusted by multiplying such amount by the
inflation adjustment factor for the calendar year in which the sale
occurs. If any amount as increased under the preceding sentence is not
a multiple of 0.1 cent, such amount is rounded to the nearest multiple
of 0.1 cent. In the case of electricity produced in open-loop biomass
facilities, small irrigation power facilities, landfill gas facilities,
trash combustion facilities, qualified hydropower facilities, and
marine and hydrokinetic renewable energy facilities, section
45(b)(4)(A) requires the amount in effect under section 45(a)(1)
(before rounding to the nearest 0.1 cent) to be reduced by one-half.
Under the calculation required by section 45(b)(2), the credit for
renewable electricity production for calendar year 2013 under section
45(a) is 2.3 cents per kilowatt hour on the sale of electricity
produced from the qualified energy resources of wind, closed-loop
biomass, geothermal energy, and solar energy, and 1.1 cents per
kilowatt hour on the sale of electricity produced in open-loop biomass
facilities, small irrigation power facilities, landfill gas facilities,
trash combustion facilities, qualified hydropower facilities, and
marine and hydrokinetic renewable energy facilities. Under the
calculation required by section 45(b)(2), the credit for refined coal
production for calendar year 2013 under section 45(e)(8)(A) is $6.590
per ton on the sale of qualified refined coal. The credit for Indian
coal production for calendar year 2013 under section 45(e)(10)(B) is
$2.308 per ton on the sale of Indian coal.
FOR FURTHER INFORMATION CONTACT: Martha Garcia, CC:PSI:6, Internal
Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224,
(202) 622-3110 (not a toll-free number).
Cornelia Schnyder,
Special Counsel to the Associate Chief Counsel (Passthroughs and
Special Industries).
[FR Doc. 2013-07773 Filed 4-1-13; 11:15 am]
BILLING CODE 4830-01-P