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by reason of holding a clean energy coal bond on a
credit allowance date shall be treated as if it were a
payment of estimated tax made by the taxpayer on
such date.
‘‘(6) REPORTING.—Issuers of clean energy coal
bonds shall submit reports similar to the reports re-
quired under section 149(e).
‘‘(m) TERMINATION.—This section shall not apply
with respect to any bond issued after December 31, 2010.’’.
(b) REPORTING.—Subsection (d) of section 6049 (relat-
ing to returns regarding payments of interest), as amended
by this Act, is amended by adding at the end the following
new paragraph:
‘‘(9) REPORTING OF CREDIT ON CLEAN ENERGY
COAL BONDS.—
‘‘(A) IN GENERAL.—For purposes of sub-
section (a), the term ‘interest’ includes amounts
includible in gross income under section 54A(g)
and such amounts shall be treated as paid on the
credit allowance date (as defined in section
54A(b)(4)).
‘‘(B) REPORTING TO CORPORATIONS, ETC.—
Except as otherwise provided in regulations, in
the case of any interest described in subpara-
graph (A), subsection (b)(4) shall be applied
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without regard to subparagraphs (A), (H), (I),
(J), (K), and (L)(i) of such subsection.
‘‘(C) REGULATORY
AUTHORITY.—The Sec-
retary may prescribe such regulations as are nec-
essary or appropriate to carry out the purposes
of this paragraph, including regulations which
require more frequent or more detailed report-
ing.’’.
(c) CLERICAL AMENDMENT.—The table of sections for
subpart H of part IV of subchapter A of chapter 1, as added
by this Act, is amended by adding at the end the following
new item:
‘‘Sec. 54A. Credit to holders of clean energy coal bonds.’’.
(d) ISSUANCE OF REGULATIONS.—The Secretary of
Treasury shall issue regulations required under section 54A
of the Internal Revenue Code of 1986 (as added by this sec-
tion) not later than 120 days after the date of the enactment
of this Act.
(e) EFFECTIVE DATE.—The amendments made by this
section shall apply to bonds issued after December 31, 2005.
Subtitle B—Domestic Fossil Fuel
Security
SEC. 1511. CREDIT FOR INVESTMENT IN CLEAN COKE/CO-
GENERATION MANUFACTURING FACILITIES.
(a) ALLOWANCE OF CLEAN COKE/COGENERATION MAN-
UFACTURING FACILITIES CREDIT.—Section 46 (relating to
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amount of credit), as amended by this Act, is amended by
striking ‘‘and’’ at the end of paragraph (3), by striking the
period at the end of paragraph (4), and inserting ‘‘, and’’,
and by adding at the end the following new paragraph:
‘‘(5) the clean coke/cogeneration manufacturing
facilities credit.’’.
(b) AMOUNT OF CLEAN COKE/COGENERATION MANU-
FACTURING FACILITIES CREDIT.—Subpart E of part IV of
subchapter A of chapter 1 (relating to rules for computing
investment credit), as amended by this Act, is amended by
inserting after section 48B the following new section:
‘‘SEC. 48C. CLEAN COKE/COGENERATION MANUFACTURING
FACILITIES CREDIT.
‘‘(a) IN GENERAL.—For purposes of section 46, the
clean coke/cogeneration manufacturing facilities credit for
any taxable year is an amount equal to 20 percent of the
qualified investment for such taxable year.
‘‘(b) QUALIFIED INVESTMENT.—
‘‘(1) IN GENERAL.—For purposes of subsection
(a), the qualified investment for any taxable year is
the basis of each clean coke/cogeneration manufac-
turing facilities property placed in service by the tax-
payer during such taxable year.
‘‘(2) CLEAN
COKE/COGENERATION
MANUFAC-
TURING FACILITIES PROPERTY.—For purposes of this
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section, the term ‘clean coke/cogeneration manufac-
turing facilities property’ means real and tangible
personal property which—
‘‘(A) is depreciable under section 167,
‘‘(B) is located in the United States,
‘‘(C) is used for the manufacture of met-
allurgical coke or for the production of steam or
electricity from waste heat generated during the
production of metallurgical coke, and
‘‘(D) does not exceed any of the following
emission limitations—
‘‘(i) 0.0 percent leaking for any coke
oven doors unless the operation of ovens is
under negative pressure,
‘‘(ii) 0.0 percent leaking for any top-
side port lids,
‘‘(iii) 0.0 percent leaking for any
offtake system,
determined 
as 
provided 
for 
in 
section
63.303(b)(1)(ii) or 63.309(d)(1) of title 40, Code
of Federal Regulations.
‘‘(c) TERMINATION.—This subsection shall not apply
to property for periods after December 31, 2009.’’.
(c) 
TECHNICAL
AMENDMENT.—Section 
50(c) 
is
amended by adding at the end the following new paragraph:
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‘‘(6) SPECIAL
RULE
FOR
COKE/COGENERATION
FACILITIES.—Paragraphs (1) and (2) shall not apply
to any property with respect to the credit determined
under section 48C.’’.
(d) CONFORMING AMENDMENTS.—
(1) Section 49(a)(1)(C), as amended by this Act,
is amended by striking ‘‘and’’ at the end of clause
(iii), by striking the period at the end of clause (iv)
and inserting ‘‘, and’’, and by adding at the end the
following new clause:
‘‘(v) the basis of any clean coke/cogen-
eration manufacturing facilities property.’’
(2) The table of sections for subpart E of part IV
of subchapter A of chapter 1, as amended by this Act,
is amended by inserting after the item relating to sec-
tion 48B the following new item:
‘‘48C. Clean coke/cogeneration manufacturing facilities credit.’’.
(e) EFFECTIVE DATE.—The amendments made by this
section shall apply to periods after December 31, 2004,
under rules similar to the rules of section 48(m) of the In-
ternal Revenue Code of 1986 (as in effect on the day before
the date of the enactment of the Revenue Reconciliation Act
of 1990).