Income Tax Act — I-3.3 127.48
) has not been finalized and executed so as to become legally binding, or (ii) has been materially modified or terminated; or (d) any environmental attributes associated with the agreement have been disposed of by the taxpayer. Rules relating to revised project plan (8) If this subsection applies, (a) the taxpayer shall file, within 180 days, a revised clean hydrogen project plan in respect of the project with the Minister of Natural Resources, in the form and manner determined by the Minister of Natural Resources; (b) if the Minister of Natural Resources is satisfied that the project will meet the requirements in paragraphs (a) to (c) of the definition qualified clean hydrogen project , (i) the Minister of Natural Resources shall confirm, with all due dispatch, the revised plan, (ii) the taxpayer’s clean hydrogen tax credit shall be redetermined, as of the date of the filing of the revised plan, based on the expected carbon intensity set out in the revised plan, and (iii) if the taxpayer previously deducted an amount in respect of a clean hydrogen tax credit, subsection (18) applies as if the compliance period ended on that date and the average actual carbon intensity of the project was equal to the expected carbon intensity set out in the revised plan; (c) if the Minister of Natural Resources is not satisfied in accordance with paragraph (b) and does not issue a confirmation described in subparagraph (b)(i) within one year after the filing of the taxpayer’s revised plan, then, as of the expiry of that period, (i) the project is deemed not to be a qualified clean hydrogen project, (ii) the average actual carbon intensity of the project is deemed to be greater than 4.5, and (iii) subsection (18) applies as if the compliance period of the project ended on the expiry date of that period; and (d) if the taxpayer fails to file a revised clean hydrogen project plan in accordance with paragraph (a), then, as of the expiry of the 180-day period described in paragraph (a), (i) subject to subparagraph (ii), (A) the project is deemed not to be a qualified clean hydrogen project, (B) the average actual carbon intensity of the project is deemed to be greater than 4.5, and (C) subsection (18) applies as if the compliance period of the project ended on the expiry date of that period, and (ii) once the taxpayer has filed the revised clean hydrogen project plan, subparagraph (i) is deemed never to have applied. Clean hydrogen project determination and rules (9) For the purposes of this section, (a) the Minister may, in consultation with the Minister of Natural Resources, determine that one or more clean hydrogen projects is one project or multiple projects (i) at any time before the Minister of Natural Resources confirms the expected carbon intensity of the hydrogen to be produced by a clean hydrogen project, or (ii) if a taxpayer files or is required to file a revised clean hydrogen project plan in accordance with subsection (8), at any time before the Minister of Natural Resources confirms the revised plan; (b) any determination under paragraph (a) is deemed to result in the clean hydrogen project or clean hydrogen projects, as the case may be, being one project or multiple projects, as the case may be; (c) for each project determined under paragraph (a), a taxpayer shall file a separate clean hydrogen project plan with the Minister of Natural Resources (in the form and manner determined by the Minister of Natural Resources) on or before the day that is 180 days after the determination is made; (d) in respect of each clean hydrogen project, the taxpayer shall file final detailed engineering designs with the Minister of Natural Resources by the earlier of the day on which hydrogen is first produced by the project and the day that is 60 days after the final detailed engineering designs are prepared; and (e) the Minister of Natural Resources may request from the taxpayer all documentation and information necessary for the Minister of Natural R