76820 Federal Register / Vol. 89, No. 182 / Thursday, September 19, 2024 / Notices 

board/index.asp, no later than 90 days 

after the meeting. Pursuant to 5 U.S.C. 

1009(b), the public may also inspect 

NBES records at the U.S. Department of 

Education, IES, 550 12th Street SW, 

Washington, DC 20202, Monday–Friday, 

8:30 a.m. to 5:00 p.m. ET. Please email 

ellie.pelaez@ed.gov to schedule an 

appointment. 

Electronic Access to This Document: 

The official version of this document is 

the document published in the Federal 

Register. Free internet access to the 

official edition of the Federal Register 

and the Code of Federal Regulations is 

available via the Federal Digital System 

at: www.gpo.gov/fdsys. At this site you 

can view this document, as well as all 

other documents of this Department 

published in the Federal Register, in 

text or Adobe Portable Document 

Format (PDF). To use PDF, you must 

have Adobe Acrobat Reader, which is 

available free at the site. You also may 

access documents of the Department 

published in the Federal Register by 

using the article search feature at: 

www.federalregister.gov. Specifically, 

through the advanced search feature at 

this site, you can limit your search to 

documents published by the 

Department. 

Authority: Section 116 of the 

Education Sciences Reform Act of 2002 

(20 U.S.C. 9516). 

Matthew Soldner, 

Acting Director, Institute of Education 

Sciences. 

[FR Doc. 2024–21446 Filed 9–18–24; 8:45 am] 

BILLING CODE 4000–01–P 

DEPARTMENT OF ENERGY 

Federal Energy Regulatory 

Commission 

Combined Notice of Filings #1 

Take notice that the Commission 

received the following exempt 

wholesale generator filings: 

Docket Numbers: EG24–285–000. 

Applicants: Kalamazoo Generating 

Station, LLC. 

Description: Kalamazoo Generating 

Station, LLC submits Notice of SelfCertification of Exempt Wholesale 

Generator Status. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5064. 

Comment Date: 5 p.m. ET 10/3/24. 

Docket Numbers: EG24–286–000. 

Applicants: Livingston Generating 

Station, LLC. 

Description: Livingston Generating 

Station, LLC submits Notice of SelfCertification of Exempt Wholesale 

Generator Status. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5065. 

Comment Date: 5 p.m. ET 10/3/24. 

Take notice that the Commission 

received the following electric rate 

filings: 

Docket Numbers: ER24–465–000. 

Applicants: Nestlewood Solar I LLC. 

Description: Refund Report: Refund 

Report to be effective N/A. 

Filed Date: 9/11/24. 

Accession Number: 20240911–5155. 

Comment Date: 5 p.m. ET 10/2/24. 

Docket Numbers: ER24–1866–002. 

Applicants: Power Authority of the 

State of New York, New York 

Independent System Operator, Inc. 

Description: Tariff Amendment: New 

York Independent System Operator, Inc. 

submits tariff filing per 35.17(b): NYPA 

Amendment to Formula Rate Template 

Revisions to be effective 7/1/2024. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5114. 

Comment Date: 5 p.m. ET 9/17/24. 

Docket Numbers: ER24–2078–000. 

Applicants: Nestlewood Solar I LLC. 

Description: Refund Report: Refund 

Report to be effective N/A. 

Filed Date: 9/11/24. 

Accession Number: 20240911–5156. 

Comment Date: 5 p.m. ET 10/2/24. 

Docket Numbers: ER24–2305–000. 

Applicants: American Transmission 

Systems, Incorporated, PJM 

Interconnection, L.L.C. 

Description: Refund Report: American 

Transmission Systems, Incorporated 

submits tariff filing per 35.19a(b): ATSI 

submits Refund Report in Docket No. 

ER24–2305 to be effective N/A. 

Filed Date: 9/11/24. 

Accession Number: 20240911–5043. 

Comment Date: 5 p.m. ET 10/2/24. 

Docket Numbers: ER24–2560–000; 

ER24–2581–000; ER24–2611–000. 

Applicants: Energy Prepay IV, LLC, 

Energy Prepay III, LLC, Energy Prepay I, 

LLC. 

Description: Supplement to 07/19/ 

2024, Energy Prepay I, LLC, et al. tariff 

filing. 

Filed Date: 9/6/24. 

Accession Number: 20240906–5227. 

Comment Date: 5 p.m. ET 9/16/24. 

Docket Numbers: ER24–3024–000. 

Applicants: Tucson Electric Power 

Company. 

Description: 205(d) Rate Filing: 

Service Agreement No. 547, Engineering 

and Procurement Agreement to be 

effective 8/14/2024. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5000. 

Comment Date: 5 p.m. ET 10/3/24. 

Docket Numbers: ER24–3025–000. 

Applicants: Southwest Power Pool, 

Inc. 

Description: 205(d) Rate Filing: 4318 

SPS GIA to be effective 8/29/2024. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5008. 

Comment Date: 5 p.m. ET 10/3/24. 

Docket Numbers: ER24–3026–000. 

Applicants: Southwest Power Pool, 

Inc. 

Description: 205(d) Rate Filing: 4325 

SPS GIA to be effective 8/30/2024. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5012. 

Comment Date: 5 p.m. ET 10/3/24. 

Docket Numbers: ER24–3027–000. 

Applicants: Appalachian Power 

Company. 

Description: 205(d) Rate Filing: 

OATT—Revise Attachment K, AEP 

Texas Inc. Rate Update to be effective 

10/1/2024. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5042. 

Comment Date: 5 p.m. ET 10/3/24. 

Docket Numbers: ER24–3028–000. 

Applicants: Kalamazoo Generating 

Station, LLC. 

Description: Baseline eTariff Filing: 

Application for Market-Based Rate 

Authorization to be effective 11/11/ 

2024. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5058. 

Comment Date: 5 p.m. ET 10/3/24. 

Docket Numbers: ER24–3029–000. 

Applicants: Livingston Generating 

Station, LLC. 

Description: Baseline eTariff Filing: 

Application for Market-Based Tariff 

Authorization to be effective 11/11/ 

2024. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5060. 

Comment Date: 5 p.m. ET 10/3/24. 

Docket Numbers: ER24–3030–000. 

Applicants: Panther Creek Power 

Operating, LLC. 

Description: Compliance filing: 

Panther Creek Informational Filing and 

Request for Waiver to be effective N/A. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5123. 

Comment Date: 5 p.m. ET 10/3/24. 

Docket Numbers: ER24–3031–000. 

Applicants: Scrubgrass Reclamation 

Company, L.P. 

Description: Compliance filing: 

Scrubgrass Informational Filing and 

Limited Waiver Request to be effective 

N/A. 

Filed Date: 9/12/24. 

Accession Number: 20240912–5124. 

Comment Date: 5 p.m. ET 10/3/24. 

The filings are accessible in the 

Commission’s eLibrary system (https://

elibrary.ferc.gov/idmws/search/ 

fercgensearch.asp) by querying the 

docket number. 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 89, No. 182 / Thursday, September 19, 2024 / Notices 76821 

1 Inflation Reduction Act of 2022 (IRA), H.R. 

5376—117th Congress (2021–2022). The IRA 

transferability provision allows a non-tax-exempt 

entity (seller) with an income tax credit to transfer 

the income tax credit to another non-tax-exempt 

entity (purchaser) and such credit cannot later be 

resold; as such, the seller would effectively receive 

cash from the sale as if it was paid directly by the 

IRS, as an incentive to encourage investment in 

energy projects, and the buyer would be able to use 

the purchased income tax credit for its own income 

tax return purposes. 

2 Inflation Reduction Act of 2022, H.R. 5376— 

117th Congress (2021–2022) (which includes a 

provision that allows a non-tax-exempt entity 

(seller) with an income tax credit to transfer the 

income tax credit to another non-tax-exempt entity 

(purchaser) and such credit cannot later be resold; 

as such, the seller would effectively receive cash 

from the sale as if it was paid directly by the IRS, 

as an incentive to encourage investment in energy 

projects, and the buyer would be able to use the 

purchased income tax credit for its own income tax 

return purposes). 

Any person desiring to intervene, to 

protest, or to answer a complaint in any 

of the above proceedings must file in 

accordance with Rules 211, 214, or 206 

of the Commission’s Regulations (18 

CFR 385.211, 385.214, or 385.206) on or 

before 5:00 p.m. Eastern time on the 

specified comment date. Protests may be 

considered, but intervention is 

necessary to become a party to the 

proceeding. 

eFiling is encouraged. More detailed 

information relating to filing 

requirements, interventions, protests, 

service, and qualifying facilities filings 

can be found at: http://www.ferc.gov/ 

docs-filing/efiling/filing-req.pdf. For 

other information, call (866) 208–3676 

(toll free). For TTY, call (202) 502–8659. 

The Commission’s Office of Public 

Participation (OPP) supports meaningful 

public engagement and participation in 

Commission proceedings. OPP can help 

members of the public, including 

landowners, environmental justice 

communities, Tribal members and 

others, access publicly available 

information and navigate Commission 

processes. For public inquiries and 

assistance with making filings such as 

interventions, comments, or requests for 

rehearing, the public is encouraged to 

contact OPP at (202) 502–6595 or OPP@

ferc.gov. 

Dated: September 12, 2024. 

Debbie-Anne A. Reese, 

Acting Secretary. 

[FR Doc. 2024–21292 Filed 9–18–24; 8:45 am] 

BILLING CODE 6717–01–P 

DEPARTMENT OF ENERGY 

Federal Energy Regulatory 

Commission 

[Docket No. AI24–1–000] 

Accounting for Transferability of 

Income Tax Credits; Notice of 

Proposed Accounting Release 

Take notice that the Chief Accountant 

of the Federal Energy Regulatory 

Commission proposes to issue an 

accounting release (attached) to provide 

guidance on the accounting for the 

transferability of income tax credits 

related to certain energy projects as a 

result of the Inflation Reduction Act of 

2022, which allows entities to monetize 

such credits via transfers to 

independent third parties for cash.1 The 

proposed accounting release would 

require an entity to treat the transfer of 

income tax credits as a nonoperating 

activity, including revenue (i.e., the 

entirety of the cash received) and 

associated costs to facilitate the transfer. 

This proposed accounting release would 

apply to jurisdictional public utilities 

and licensees and natural gas 

companies. 

This proposed accounting release is 

not intended to prejudice the rate 

treatment of the transfer of income tax 

credits in any proceeding before the 

Commission. 

The Commission has reviewed the 

proposed Accounting Release. At the 

conclusion of the comment period 

specified at the end of this notice, the 

Chief Accountant will consider the 

comments received, make any necessary 

changes, and issue the final accounting 

release. The effective date of the final 

accounting release will be the day that 

it is issued. 

Specifically, comments on the 

following accounting topics are 

requested: 

1. The proposed accounting release 

would require an entity to treat the 

transfer of income tax credits as a 

nonoperating activity, including the 

revenue received from the transfer of the 

income tax credit (i.e., the entirety of the 

cash proceeds) and any costs to 

facilitate the transfer of income tax 

credits. If you disagree with this 

conclusion, please provide the basis for 

your disagreement. 

2. The proposed accounting release 

would require an entity, upon the 

transfer of its income tax credits to an 

independent third party, to derecognize 

all associated balances previously 

recorded on its books, including 

associated accumulated deferred income 

tax (ADIT) balances. If you disagree 

with this conclusion, please provide the 

basis for your disagreement. 

3. The proposed accounting release 

would require an entity that purchases 

a non-investment tax credit, such as a 

production tax credit, from an 

independent third party, to record the 

tax credit on its books using the same 

account (i.e., an ADIT asset) that it 

would have used had it itself generated 

the tax credit for use on its own income 

tax return, with any costs incurred to 

facilitate the purchase recorded as 

nonoperating. If you disagree with this 

conclusion, please provide the basis for 

your disagreement. 

4. The proposed accounting release 

would require an entity that purchases 

an investment tax credit from an 

independent third party to use either 

the flow-through or deferred method of 

accounting for investment tax credits, 

consistent with the Commission’s 

existing accounting regulations, as if it 

itself received the upfront tax credit 

from the IRS, with any costs incurred to 

facilitate the purchase recorded as 

nonoperating. If you disagree with this 

conclusion, please provide the basis for 

your disagreement. 

All interested parties are invited to 

submit comments on this proposed 

accounting release using the ‘‘eFiling’’ 

link at http://www.ferc.gov. In lieu of 

electronic filing, you may submit a 

paper copy which must reference the 

accounting docket number. 

To file via U.S. Postal Service: DebbieAnne A. Reese, Acting Secretary, 

Federal Energy Regulatory 

Commission, 888 First Street NE, 

Washington, DC 20426 

To file via any other courier: DebbieAnne A. Reese, Acting Secretary, 

Federal Energy Regulatory 

Commission, 12225 Wilkins Avenue, 

Rockville, Maryland 20852 

Comment Date: 5:00 p.m. Eastern 

Time on October 25, 2024. 

Dated: September 12, 2024. 

Debbie-Anne A. Reese, 

Acting Secretary. 

Attachment 

Federal Energy Regulatory Commission 

Proposed Accounting Release: Docket 

No. AI24–1–000 Accounting for 

Transferability of Income Tax Credits 

To All Jurisdictional Public Utilities 

and Licensees and Natural Gas 

Companies 

Subject: Accounting for Transferability 

of Income Tax Credits 

The Inflation Reduction Act of 2022 

allows for transferability of income tax 

credits related to certain energy projects 

and permits entities to monetize such 

credits via transfers to independent 

third parties for cash.2 The Commission 

has previously determined that 

dispositions of assets are not part of 

normal recurring operating activities, 


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