[Federal Register Volume 89, Number 78 (Monday, April 22, 2024)]
[Rules and Regulations]
[Page 29257]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-08494]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9989]
RIN 1545-BQ75


Elective Payment of Advanced Manufacturing Investment Credit; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final rule; correction.

-----------------------------------------------------------------------

SUMMARY: This document contains corrections to Treasury Decision 9989, 
which was published in the Federal Register for Monday, March 11, 2024. 
Treasury Decision 9989 issued final regulations concerning the elective 
payment election of the advanced manufacturing investment credit under 
the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act 
of 2022.

DATES: These corrections are effective on April 22, 2024 and for dates 
of applicability see Sec.  1.48D-6(h).

FOR FURTHER INFORMATION CONTACT: Concerning these final regulations, 
Lani M. Sinfield of the Office of Associate Chief Counsel (Passthroughs 
and Special Industries) at (202) 317-4137 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9989) that are the subject of this 
correction are under section 48D of the Internal Revenue Code.

Corrections to Publication

    Accordingly, the final regulations (TD 9989) that are the subject 
of FR Doc. 2024-04605, published on March 11, 2024, are corrected to 
read:

0
1. On page 17597, in the third column, the ninth line of the first full 
paragraph is corrected to read ``Sec.  1.48D-6(b)(7)(iv) is revised in 
the''.
0
2. On page 17600, in the first column, fourth line from the bottom of 
the column is corrected to read, ``completed Form 3800 which may be''.
0
3. On page 17605, in the third column, the second line from the bottom 
of the column is corrected to read, ``credit. A partnership or S 
corporation''.


Sec.  1.48D-6   [Corrected]

0
4. On page 17608, in the third column, paragraph (c)(1)(iv)(A) is 
corrected to read ``The taxpayer claiming to be an eligible taxpayer is 
not a foreign entity of concern within the meaning of regulations under 
section 48D and has not made an applicable transaction as defined under 
regulations under section 50 during the taxable year that the qualified 
property is placed in service; and''.
0
5. On page 17612, in the first column, the third line from the bottom 
of paragraph (f)(3)(i) is corrected to read ``48D(d)(2)(A)(i)(I) and 
paragraph (d) of''.
0
6. On page 17612, in the second column, lines twenty-two through 
twenty-nine of paragraph (f)(4) are corrected to read, ``$100,000. In 
2025, the IRS determines that the amount of the section 48D credit 
properly allowable to A Corp in 2023 with respect to Facility A (as 
determined under regulations under section 48D that apply for purposes 
of determining the amount of the section 48D credit and without regard 
to the limitation based on tax in section 38(c)) was $60,000. A Corp is 
not able to show''.
0
7. On page 17612, in the third column, the second line of paragraph 
(h)(2) is corrected to read, ``years ending before March 11, 2024,''.

Aron L. Cosby,
Federal Register Liaison, Publications & Regulations Branch, Legal 
Processing Division, Associate Chief Counsel, (Procedure and 
Administration).
[FR Doc. 2024-08494 Filed 4-19-24; 8:45 am]
BILLING CODE 4830-01-P