22286 Federal Register / Vol. 87, No. 72 / Thursday, April 14, 2022 / Notices 

under section 613A of title 26 of the 

U.S.C. to be used in determining 

percentage depletion in the case of oil 

and natural gas produced from marginal 

properties. 

The reference price under section 

45K(d)(2)(C) of title 26 of the U.S.C. for 

calendar year 2021 applies for purposes 

of sections 43, 45I, and 613A for taxable 

year 2022. 

Reference Price: The reference price 

under section 45K(d)(2)(C) for calendar 

year 2021 is $65.90. 

Christopher T. Kelley, 

Special Counsel to the Associate Chief 

Counsel, (Passthroughs and Special 

Industries). 

[FR Doc. 2022–08019 Filed 4–13–22; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Credit for Renewable Electricity 

Production and Publication of Inflation 

Adjustment Factor and Reference 

Price for Calendar Year 2022 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice of publication. 

SUMMARY: The 2022 inflation adjustment 

factor and reference price are used in 

determining the availability of the credit 

for renewable electricity production. For 

calendar year 2022, the credit period for 

refined coal production and Indian coal 

production expired. 

FOR FURTHER INFORMATION CONTACT: 

Charles Hyde, CC:PSI:6, Internal 

Revenue Service, 1111 Constitution 

Avenue NW, Washington, DC 20224, 

(202) 317–6853 (not a toll-free number). 

SUPPLEMENTARY INFORMATION: The 2022 

inflation adjustment factor and 

reference price apply to calendar year 

2022 sales of kilowatt hours of 

electricity produced in the United States 

or a possession thereof from qualified 

energy resources. 

Inflation Adjustment Factor: The 

inflation adjustment factor for calendar 

year 2022 for qualified energy resources 

is 1.8012. 

Reference Price: The reference price 

for calendar year 2022 for facilities 

producing electricity from wind is 4.09 

cents per kilowatt hour. The reference 

prices for facilities producing electricity 

from closed-loop biomass, open-loop 

biomass, geothermal energy, municipal 

solid waste, qualified hydropower 

production, and marine and 

hydrokinetic renewable energy have not 

been determined for calendar year 2022. 

Phaseout Calculation: Because the 

2022 reference price for electricity 

produced from wind (4.09 cents per 

kilowatt hour) does not exceed 8 cents 

multiplied by the inflation adjustment 

factor (1.8012), the phaseout of the 

credit provided in section 45(b)(1) does 

not apply to such electricity sold during 

calendar year 2022. For electricity 

produced from closed-loop biomass, 

open-loop biomass, geothermal energy, 

municipal solid waste, qualified 

hydropower production, and marine 

and hydrokinetic renewable energy, the 

phaseout of the credit provided in 

section 45(b)(1) does not apply to such 

electricity sold during calendar year 

2022. 

Credit Amount by Qualified Energy 

Resource and Facility: As required by 

section 45(b)(2), the 1.5 cent amount in 

section 45(a)(1) is 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, landfill gas facilities, 

trash 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 2022 under section 45(a) 

is 2.7 cents per kilowatt hour on the sale 

of electricity produced from the 

qualified energy resources of wind, 

closed-loop biomass, and geothermal 

energy, and 1.4 cents per kilowatt hour 

on the sale of electricity produced in 

open-loop biomass facilities, landfill gas 

facilities, trash facilities, qualified 

hydropower facilities, and marine and 

hydrokinetic renewable energy 

facilities. 

(Authority: 45(e)(2)(A) (26 U.S.C. 45(e)(2)(A)) 

of the Internal Revenue Code.) 

Christopher T. Kelley, 

Special Counsel to the Associate Chief 

Counsel, (Passthroughs and Special 

Industries). 

[FR Doc. 2022–07967 Filed 4–13–22; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Solicitation of Nominations for 

Membership on the Treasury Advisory 

Committee on Racial Equity 

AGENCY: Department of the Treasury. 

ACTION: The extension of the application 

due date for the solicitation of 

nominations for membership of the 

Treasury Advisory Committee on Racial 

Equity. 

SUMMARY: The Treasury Department is 

soliciting nominations for membership 

on the Treasury Advisory Committee on 

Racial Equity (TACRE). The TACRE is 

composed of up to 25 members who 

will provide information, advice and 

recommendations to the Department of 

the Treasury on matters relating to the 

advancement of racial equity. This 

notice extends the process for applying 

for membership on the Committee until 

April 25th, 2022. 

DATES: Applications are due on or 

before April 25, 2022. 

FOR FURTHER INFORMATION CONTACT: 

Janis Bowdler, Counselor for Racial 

Equity, Department of Treasury, (202) 

622–3002, Equity@Treasury.gov. 

SUPPLEMENTARY INFORMATION: Pursuant 

to the Federal Advisory Committee Act 

(FACA) (5 U.S.C. app., as amended), the 

Department of the Treasury 

(‘‘Department’’) has established the 

Treasury Advisory Committee on Racial 

Equity (‘‘Committee’’). The Department 

has determined that establishing this 

committee is necessary and in the 

public interest in order to carry out the 

provisions of Executive Order 13985, 

Advancing Racial Equity and Support 

for Underserved Communities 

Throughout the Federal Government. 

Committee Membership 

In order to achieve a fairly balanced 

membership, the Committee shall 

include representatives from a wide 

range of views, such as the Federal 

government, financial services industry, 

state regulatory authorities, consumer or 

public advocacy organizations, 

community-based groups, academia, 

philanthropic organizations, as well as 

others focused on the advancement of 

equity priorities within the United 

States. Membership balance will not be 

static and may change, depending on 

the work of the Committee. The number 

of Committee members shall not exceed 

twenty-five. The Committee shall meet 

at such intervals as are necessary to 

carry out its duties. It is estimated that 

the Committee will generally meet four 

times per year, virtually or in person. 

Generally, Committee meetings are open 

to the public. 

Background 

Objectives and Duties 

The purpose of the Committee is to 

provide advice and recommendations to 

the Department of the Treasury to assist 


lotter on DSK11XQN23PROD with NOTICES1