For purposes of section 46, the qualifying advanced coal project credit for any taxable year is an amount equal to-
For purposes of subsection (a), the qualified investment for any taxable year is the basis of eligible property placed in service by the taxpayer during such taxable year which is part of a qualifying advanced coal project-
Rules similar to section 48(a)(4) (without regard to subparagraph (D) thereof) shall apply for purposes of this section.
Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of this section.
For purposes of this section-
The term "qualifying advanced coal project" means a project which meets the requirements of subsection (e).
The term "advanced coal-based generation technology" means a technology which meets the requirements of subsection (f).
The term "eligible property" means-
The term "coal" means anthracite, bituminous coal, subbituminous coal, lignite, and peat.
The term "greenhouse gas capture capability" means an integrated gasification combined cycle technology facility capable of adding components which can capture, separate on a long-term basis, isolate, remove, and sequester greenhouse gases which result from the generation of electricity.
The term "electric generation unit" means any facility at least 50 percent of the total annual net output of which is electrical power, including an otherwise eligible facility which is used in an industrial application.
The term "integrated gasification combined cycle" means an electric generation unit which produces electricity by converting coal to synthesis gas which is used to fuel a combined-cycle plant which produces electricity from both a combustion turbine (including a combustion turbine/fuel cell hybrid) and a steam turbine.
Not later than 180 days after the date of enactment of this section, the Secretary, in consultation with the Secretary of Energy, shall establish a qualifying advanced coal project program for the deployment of advanced coal-based generation technologies.
Each applicant for certification under this paragraph shall submit an application meeting the requirements of subparagraph (B). An applicant may only submit an application-
An application under subparagraph (A) shall contain such information as the Secretary may require in order to make a determination to accept or reject an application for certification as meeting the requirements under subsection (e)(1). Any information contained in the application shall be protected as provided in section 552(b)(4) of title 5, United States Code.
The Secretary shall issue a determination as to whether an applicant has met the requirements under subsection (e)(1) within 60 days following the date of submittal of the application for certification.
Each applicant for certification shall have 2 years from the date of acceptance by the Secretary of the application during which to provide to the Secretary evidence that the criteria set forth in subsection (e)(2) have been met.
An applicant which receives a certification shall have 5 years from the date of issuance of the certification in order to place the project in service and if such project is not placed in service by that time period then the certification shall no longer be valid.
The aggregate credits allowed under subsection (a) for projects certified by the Secretary under paragraph (2) may not exceed $2,550,000,000.
Of the dollar amount in subparagraph (A), the Secretary is authorized to certify-
Not later than 6 years after the date of enactment of this section, the Secretary shall review the credits allocated under this section as of the date which is 6 years after the date of enactment of this section.
The Secretary may reallocate credits available under clauses (i) and (ii) of paragraph (3)(B) if the Secretary determines that-
If the Secretary determines that credits under clause (i) or (ii) of paragraph (3)(B) are available for reallocation pursuant to the requirements set forth in paragraph (2), the Secretary is authorized to conduct an additional program for applications for certification.
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.
For purposes of subsection (c)(1), a project shall be considered a qualifying advanced coal project that the Secretary may certify under subsection (d)(2) if the Secretary determines that, at a minimum-
For the purpose of subsection (d)(2)(D), a project shall be eligible for certification only if the Secretary determines that-
In determining which qualifying advanced coal projects to certify under subsection (d)(2), the Secretary shall-
For the purpose of this section, an electric generation unit uses advanced coal-based generation technology if-
Performance characteristic: | Design level for project: |
SO2 (percent removal) | 99 percent |
NOx (emissions) | 0.07 lbs/MMBTU |
PM* (emissions) | 0.015 lbs/MMBTU |
Hg (percent removal) | 90 percent |
For purposes of the performance requirement specified for the removal of SO2 in the table contained in subparagraph (B), the SO2 removal design level in the case of a unit designed for the use of feedstock substantially all of which is subbituminous coal shall be 99 percent SO2 removal or the achievement of an emission level of 0.04 pounds or less of SO2 per million Btu, determined on a 30-day average.
For purposes of this subsection, design net heat rate with respect to an electric generation unit shall-
In the case of any electric generation unit in existence on the date of the enactment of this section, such unit uses advanced coal-based generation technology if, in lieu of the requirements under paragraph (1)(A)(ii), such unit achieves a minimum efficiency of 35 percent and an overall thermal design efficiency improvement, compared to the efficiency of the unit as operated, of not less than-
No use of technology (or level of emission reduction solely by reason of the use of the technology), and no achievement of any emission reduction by the demonstration of any technology or performance level, by or at one or more facilities with respect to which a credit is allowed under this section, shall be considered to indicate that the technology or performance level is-
In implementing this section or section 48B, the Secretary is directed to modify the terms of any competitive certification award and any associated closing agreement where such modification-
unless the Secretary determines that the dollar amount of tax credits available to the taxpayer under such section would increase as a result of the modification or such modification would result in such project not being originally certified. In considering any such modification, the Secretary shall consult with other relevant Federal agencies, including the Department of Energy.
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).
26 U.S.C. § 48A
EDITORIAL NOTES
REFERENCES IN TEXTThe enactment of the Revenue Reconciliation Act of 1990, referred to in subsec. (b)(3), is the date of enactment of title XI of Pub. L. 101-508, which was approved Nov. 5, 1990.The date of enactment of this section, referred to in subsecs. (d)(1), (4)(A) and (f)(3), is the date of enactment of Pub. L. 109-58, which was approved Aug. 8, 2005.
CODIFICATIONPub. L. 110-234 and Pub. L. 110-246 made identical amendments to this section. The amendments by Pub. L. 110-234 were repealed by section 4(a) of Pub. L. 110-246.
AMENDMENTS2009-Subsec. (b)(2). Pub. L. 111-5 inserted "(without regard to subparagraph (D) thereof)" after "section 48(a)(4)". 2008-Subsec. (a)(3). Pub. L. 110-343, §111(a), added par. (3).Subsec. (d)(2)(A). Pub. L. 110-343, §111(c)(2), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: "Each applicant for certification under this paragraph shall submit an application meeting the requirements of subparagraph (B). An applicant may only submit an application during the 3-year period beginning on the date the Secretary establishes the program under paragraph (1)."Subsec. (d)(3)(A). Pub. L. 110-343, §111(b), substituted "$2,550,000,000" for "$1,300,000,000". Subsec. (d)(3)(B). Pub. L. 110-343, §111(c)(1), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: "Of the dollar amount in subparagraph (A), the Secretary is authorized to certify-"(i) $800,000,000 for integrated gasification combined cycle projects, and"(ii) $500,000,000 for projects which use other advanced coal-based generation technologies." Subsec. (d)(5). Pub. L. 110-343, §111(d), added par. (5).Subsec. (e)(1)(G). Pub. L. 110-343, §111(c)(3)(A), added subpar. (G).Subsec. (e)(3). Pub. L. 110-343, §111(c)(5), substituted "certain" for "integrated gasification combined cycle" in heading.Subsec. (e)(3)(B)(iii), (iv). Pub. L. 110-343, §111(c)(4), added cl. (iii) and redesignated former cl. (iii) as (iv).Subsec. (e)(3)(C). Pub. L. 110-343, §111(c)(3)(B), added subpar. (C).Subsec. (h). Pub. L. 110-246, §15346(a), added subsec. (h).Subsec. (i). Pub. L. 110-343, §111(c)(3)(C), added subsec. (i). 2007-Subsec. (d)(4)(B)(ii). Pub. L. 110-172 struck out "subsection" before "paragraph" in two places. 2006-Subsec. (f)(1). Pub. L. 109-432 inserted concluding provisions.
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2009 AMENDMENT Amendment by Pub. L. 111-5 applicable to periods after Dec. 31, 2008, under rules similar to the rules of section 48(m) of this title as in effect on the day before Nov. 5, 1990, see section 1103(c)(1) of Pub. L. 111-5, set out as a note under section 25C of this title.
EFFECTIVE DATE OF 2008 AMENDMENT Pub. L. 110-343, div. B, title I, §111(e), Oct. 3, 2008, 122 Stat. 3823, provided that:"(1) IN GENERAL.-Except as otherwise provided in this subsection, the amendments made by this section [amending 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 [Oct. 3, 2008]."(2) DISCLOSURE OF ALLOCATIONS.-The amendment made by subsection (d) [amending this section] shall apply to certifications made after the date of the enactment of this Act."(3) CLERICAL AMENDMENT.-The amendment made by subsection (c)(5) [amending this section] shall take effect as if included in the amendment made by section 1307(b) of the Energy Tax Incentives Act of 2005 [Pub. L. 109-58]."Amendment of this section and repeal of Pub. L. 110-234 by Pub. L. 110-246 effective May 22, 2008, the date of enactment of Pub. L. 110-234, except as otherwise provided, see section 4 of Pub. L. 110-246, set out as an Effective Date note under section 8701 of Title 7, Agriculture.Pub. L. 110-234, title XV, §15346(b), May 22, 2008, 122 Stat. 1523, and Pub. L. 110-246, §4(a), title XV, §15346(b), June 18, 2008, 122 Stat. 1664, 2285, provided that: "The amendment made by this section [amending this section] shall take effect on the date of the enactment of this Act [June 18, 2008] and is applicable to all competitive certification awards entered into under section 48A or 48B of the Internal Revenue Code of 1986, whether such awards were issued before, on, or after such date of enactment."[Pub. L. 110-234 and Pub. L. 110-246 enacted identical provisions. Pub. L. 110-234 was repealed by section 4(a) of Pub. L. 110-246, set out as a note under section 8701 of Title 7, Agriculture.]
EFFECTIVE DATE OF 2006 AMENDMENT Pub. L. 109-432, div. A, title II, §203(b), Dec. 20, 2006, 120 Stat. 2945, provided that: "The amendment made by this section [amending this section] shall take apply [sic] with respect to applications for certification under section 48A(d)(2) of the Internal Revenue Code of 1986 submitted after October 2, 2006."
EFFECTIVE DATESection applicable to periods after Aug. 8, 2005, under rules similar to the rules of section 48(m) of this title, as in effect on the day before Nov. 5, 1990, see section 1307(d) of Pub. L. 109-58, set out as an Effective Date of 2005 Amendment note under section 46 of this title.
- Internal Revenue Code of 1986
- The term "Internal Revenue Code of 1986" means this title, and the term "Internal Revenue Code of 1939" means the Internal Revenue Code enacted February 10, 1939, as amended.
- Secretary
- The term "Secretary" means the Secretary of the Treasury or his delegate.
- State
- The term "State" shall be construed to include the District of Columbia, where such construction is necessary to carry out provisions of this title.
- taxable year
- The term "taxable year" means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. "Taxable year" means, in the case of a return made for a fractional part of a year under the provisions of subtitle A or under regulations prescribed by the Secretary, the period for which such return is made.
- taxpayer
- The term "taxpayer" means any person subject to any internal revenue tax.