811 
paragraph (B) achieved in States described in para-
graph (2) in accordance with this subsection. 
‘‘(B) In accordance with regulations promul-
gated by the Secretary, the Secretary shall issue cred-
its for— 
‘‘(i) qualified electricity savings achieved by 
a retail electric supplier in a calendar year; and 
‘‘(ii) qualified electricity savings achieved 
by other entities if— 
‘‘(I) the measures used to achieve the 
qualifying electricity savings were installed 
or place in operation by the entity seeking 
the credit or the designated agent of the en-
tity; and 
‘‘(II) no retail electric supplier paid a 
substantial portion of the cost of achieving 
the qualified electricity savings (unless the 
retail electric supplier has waived any enti-
tlement to the credit). 
‘‘(4) MEASUREMENT
AND
VERIFICATION
OF 
ELECTRICITY
SAVINGS.—Not later than June 30, 
2009, the Secretary shall promulgate regulations re-
garding the measurement and verification of elec-
tricity savings under this subsection, including regu-
lations covering—
812 
‘‘(A) procedures and standards for defining 
and measuring electricity savings that will be el-
igible to receive credits under paragraph (3), 
which shall— 
‘‘(i) specify the types of energy effi-
ciency and energy conservation that will be 
eligible for the credits; 
‘‘(ii) require that energy consumption 
for customer facilities or portions of facili-
ties in the applicable base and current 
years be adjusted, as appropriate, to ac-
count for changes in weather, level of pro-
duction, and building area; 
‘‘(iii) account for the useful life of elec-
tricity savings measures; 
‘‘(iv) include specified electricity sav-
ings values for specific, commonly-used effi-
ciency measures; 
‘‘(v) specify the extent to which elec-
tricity savings attributable to measures car-
ried out before the date of enactment of this 
section are eligible to receive credits under 
this subsection; and 
‘‘(vi) exclude electricity savings that 
(I) are not properly attributable to meas-
813 
ures carried out by the entity seeking the 
credit; or (II) have already been credited 
under this section to another entity; 
‘‘(B) procedures and standards for third- 
party verification of reported electricity savings; 
and 
‘‘(C) such requirements for information, re-
ports, and access to facilities as may be nec-
essary to carry out this subsection. 
‘‘(5) COMBINED HEAT AND POWER.—Under regu-
lations promulgated by the Secretary, the increment 
of electricity output of a new combined heat and 
power system that is attributable to the higher effi-
ciency of the combined system (as compared to the ef-
ficiency of separate production of the electric and 
thermal outputs), shall be considered electricity sav-
ings under this subsection. 
‘‘(j) ENFORCEMENT.—A retail electric supplier that 
does not comply with subsection (b) shall be liable for the 
payment of a civil penalty. That penalty shall be calculated 
on the basis of the number of kilowatt-hours represented by 
the retail electric supplier’s failure to comply with sub-
section (b), multiplied by the lesser of 4.5 cents (adjusted 
for inflation for such calendar year, based on the Gross Do-
mestic Product Implicit Price Deflator) or 300 percent of
814 
the average market value of Federal renewable energy cred-
its and energy efficiency credits for the compliance period. 
Any such penalty shall be due and payable without demand 
to the Secretary as provided in the regulations issued under 
subsection (e). 
‘‘(k) ALTERNATIVE
COMPLIANCE
PAYMENTS.—The 
Secretary shall accept payment equal to the lesser of: 
‘‘(1) 200 percent of the average market value of 
Federal renewable energy credits and Federal energy 
efficiency credits for the applicable compliance period; 
or 
‘‘(2) 2.5 cents per kilowatt hour adjusted on Jan-
uary 1 of each year following calendar year 2006 
based on the Gross Domestic Product Implicit Price 
Deflator, 
as a means of compliance under subsection (b)(4) 
‘‘(l) INFORMATION COLLECTION.—The Secretary may 
collect the information necessary to verify and audit— 
‘‘(1) the annual renewable energy generation of 
any retail electric supplier, Federal renewable energy 
credits submitted by a retail electric supplier pursu-
ant to subsection (b)(1) and Federal energy efficiency 
credits submitted by a retail electric supplier pursu-
ant to subsection (b)(2);
815 
‘‘(2) annual electricity savings achieved pursu-
ant to subsection (i); 
‘‘(3) the validity of Federal renewable energy 
credits submitted for compliance by a retail electric 
supplier to the Secretary; and 
‘‘(4) the quantity of electricity sales of all retail 
electric suppliers. 
‘‘(m) ENVIRONMENTAL
SAVINGS
CLAUSE.—Incre-
mental hydropower shall be subject to all applicable envi-
ronmental laws and licensing and regulatory requirements. 
‘‘(n) STATE PROGRAMS.—(1) Nothing in this section 
diminishes any authority of a State or political subdivision 
of a State to— 
‘‘(A) adopt or enforce any law or regu-
lation respecting renewable energy or energy 
efficiency, including but not limited to pro-
grams that exceed the required amount of 
renewable energy or energy efficiency under 
this section, or 
‘‘(B) regulate the acquisition and dis-
position of Federal renewable energy credits 
and Federal energy efficiency credits by re-
tail electric suppliers. 
No law or regulation referred to in subparagraph (A) 
shall relieve any person of any requirement otherwise
816 
applicable under this section. The Secretary, in con-
sultation with States having renewable energy pro-
grams and energy efficiency programs, shall preserve 
the integrity of such State programs, including pro-
grams that exceed the required amount of renewable 
energy and energy efficiency under this section, and 
shall facilitate coordination between the Federal pro-
gram and State programs. 
‘‘(2) In the rule establishing the program under this 
section, the Secretary shall incorporate common elements 
of existing renewable energy and energy efficiency pro-
grams, including State programs, to ensure administrative 
ease, market transparency and effective enforcement. The 
Secretary shall work with the States to minimize adminis-
trative burdens and costs to retail electric suppliers. 
‘‘(o) RECOVERY OF COSTS.—An electric utility whose 
sales of electric energy are subject to rate regulation, includ-
ing any utility whose rates are regulated by the Commis-
sion and any State regulated electric utility, shall not be 
denied the opportunity to recover the full amount of the 
prudently incurred incremental cost of renewable energy 
and energy efficiency obtained to comply with the require-
ments of subsection (b). For purposes of this subsection, the 
definitions in section 3 of this Act shall apply to the terms
818 
ronmental and congestion mitigation investments that 
would otherwise have been required, impact on nat-
ural gas demand and price, effectiveness of green 
marketing programs at reducing the cost of renewable 
resources. 
The Secretary shall transmit the results of the evaluation 
and any recommendations for modifications and improve-
ments to the program to Congress not later than January 
1, 2016. 
‘‘(q) STATE RENEWABLE ENERGY AND ENERGY EFFI-
CIENCY ACCOUNT PROGRAM.—(1) There is established in 
the Treasury a State renewable energy and energy efficiency 
account program. 
‘‘(2) All money collected by the Secretary from the al-
ternative compliance payments under subsection (k) shall 
be deposited into the State renewable energy and energy ef-
ficiency account established pursuant to this subsection. 
‘‘(3) Proceeds deposited in the State renewable energy 
and energy efficiency account shall be used by the Secretary, 
subject to annual appropriations, for a program to provide 
grants to the State agency responsible for administering a 
fund to promote renewable energy generation and energy 
efficiency for customers of the State, or an alternative agen-
cy designated by the State, or if no such agency exists, to 
the State agency developing State energy conservation plans
819 
under section 363 of the Energy Policy and Conservation 
Act (42 U.S.C. 6322) for the purposes of promoting renew-
able energy production and providing energy assistance and 
weatherization services to low-income consumers. 
‘‘(4) The Secretary may issue guidelines and criteria 
for grants awarded under this subsection. At least 75 per-
cent of the funds provided to each State shall be used for 
promoting renewable energy production and energy effi-
ciency through grants, production incentives or other state- 
approved funding mechanisms. The funds shall be allocated 
to the States on the basis of retail electric sales subject to 
the Renewable electricity Standard under this section or 
through voluntary participation. State agencies receiving 
grants under this section shall maintain such records and 
evidence of compliance as the Secretary may require.’’. 
(b) TABLE OF CONTENTS.—The table of contents for 
such title is amended by adding the following new item at 
the end: 
‘‘Sec. 610. Federal renewable electricity standard’’. 
(c) SUNSET.—Section 610 of such title and the item 
relating to such section 610 in the table of contents for such 
title are each repealed as of December 31, 2039.
820 
TITLE XV—CLEAN RENEWABLE 
ENERGY AND CONSERVATION 
TAX ACT OF 2007 
SEC. 1500. SHORT TITLE; AMENDMENT OF 1986 CODE. 
(a) SHORT TITLE.—This title may be cited as the 
‘‘Clean Renewable Energy and Conservation Tax Act of 
2007’’. 
(b) AMENDMENT OF 1986 CODE.—Except as otherwise 
expressly provided, whenever in this title an amendment 
or repeal is expressed in terms of an amendment to, or re-
peal of, a section or other provision, the reference shall be 
considered to be made to a section or other provision of the 
Internal Revenue Code of 1986. 
Subtitle A—Clean Renewable 
Energy Production Incentives 
PART I—PROVISIONS RELATING TO RENEWABLE 
ENERGY 
SEC. 1501. EXTENSION AND MODIFICATION OF RENEWABLE 
ENERGY CREDIT. 
(a) EXTENSION OF CREDIT.—Each of the following 
provisions of section 45(d) (relating to qualified facilities) 
is amended by striking ‘‘January 1, 2009’’ and inserting 
‘‘January 1, 2013’’: 
(1) Paragraph (1). 
(2) Clauses (i) and (ii) of paragraph (2)(A).
821 
(3) Clauses (i)(I) and (ii) of paragraph (3)(A). 
(4) Paragraph (4). 
(5) Paragraph (5). 
(6) Paragraph (6). 
(7) Paragraph (7). 
(8) Subparagraphs (A) and (B) of paragraph 
(9). 
(b) MODIFICATION OF CREDIT PHASEOUT.— 
(1) REPEAL OF PHASEOUT.—Subsection (b) of 
section 45 is amended— 
(A) by striking paragraph (1), and 
(B) by striking ‘‘the 8 cent amount in para-
graph (1),’’ in paragraph (2) thereof. 
(2) LIMITATION BASED ON INVESTMENT IN FA-
CILITY.—Subsection (b) of section 45 is amended by 
inserting before paragraph (2) the following new 
paragraph: 
‘‘(1) LIMITATION BASED ON INVESTMENT IN FA-
CILITY.— 
‘‘(A) IN
GENERAL.—In the case of any 
qualified facility originally placed in service 
after December 31, 2008, the amount of the cred-
it determined under subsection (a) for any tax-
able year with respect to electricity produced at 
such facility shall not exceed the product of—
822 
‘‘(i) the applicable percentage with re-
spect to such facility, multiplied by 
‘‘(ii) the eligible basis of such facility. 
‘‘(B) CARRYFORWARD OF UNUSED LIMITA-
TION AND EXCESS CREDIT.— 
‘‘(i) UNUSED LIMITATION.—If the limi-
tation imposed under subparagraph (A) 
with respect to any facility for any taxable 
year exceeds the prelimitation credit for 
such facility for such taxable year, the limi-
tation imposed under subparagraph (A) 
with respect to such facility for the suc-
ceeding taxable year shall be increased by 
the amount of such excess. 
‘‘(ii) 
EXCESS
CREDIT.—If 
the 
prelimitation credit with respect to any fa-
cility for any taxable year exceeds the limi-
tation imposed under subparagraph (A) 
with respect to such facility for such taxable 
year, the credit determined under subsection 
(a) with respect to such facility for the suc-
ceeding taxable year (determined before the 
application of subparagraph (A) for such 
succeeding taxable year) shall be increased 
by the amount of such excess. With respect
823 
to any facility, no amount may carried for-
ward under this clause to any taxable year 
beginning after the 10-year period described 
in subsection (a)(2)(A)(ii) with respect to 
such facility. 
‘‘(iii) PRELIMITATION
CREDIT.—The 
term ‘prelimitation credit’ with respect to 
any facility for a taxable year means the 
credit determined under subsection (a) with 
respect to such facility for such taxable 
year, determined without regard to sub-
paragraph (A) and after taking into ac-
count any increase for such taxable year 
under clause (ii). 
‘‘(C) APPLICABLE PERCENTAGE.—For pur-
poses of this paragraph— 
‘‘(i) IN GENERAL.—The term ‘applica-
ble percentage’ means, with respect to any 
facility, the appropriate percentage pre-
scribed by the Secretary for the month in 
which such facility is originally placed in 
service. 
‘‘(ii) METHOD OF PRESCRIBING APPLI-
CABLE PERCENTAGES.—The applicable per-
centages prescribed by the Secretary for any
824 
month under clause (i) shall be percentages 
which yield over a 10-year period amounts 
of limitation under subparagraph (A) which 
have a present value equal to 35 percent of 
the eligible basis of the facility. 
‘‘(iii) METHOD OF DISCOUNTING.—The 
present value under clause (ii) shall be de-
termined— 
‘‘(I) as of the last day of the 1st 
year of the 10-year period referred to 
in clause (ii), 
‘‘(II) by using a discount rate 
equal to the greater of 110 percent of 
the Federal long-term rate as in effect 
under section 1274(d) for the month 
preceding the month for which the ap-
plicable percentage is being prescribed, 
or 4.5 percent, and 
‘‘(III) by taking into account the 
limitation under subparagraph (A) for 
any year on the last day of such year. 
‘‘(D) ELIGIBLE
BASIS.—For purposes of 
this paragraph—
825 
‘‘(i) IN GENERAL.—The term ‘eligible 
basis’ means, with respect to any facility, 
the sum of— 
‘‘(I) the basis of such facility de-
termined as of the time that such facil-
ity is originally placed in service, and 
‘‘(II) the portion of the basis of 
any shared qualified property which is 
properly allocable to such facility 
under clause (ii). 
‘‘(ii) RULES
FOR
ALLOCATION.—For 
purposes of subclause (II) of clause (i), the 
basis of shared qualified property shall be 
allocated among all qualified facilities 
which are projected to be placed in service 
and which require utilization of such prop-
erty in proportion to projected generation 
from such facilities. 
‘‘(iii) 
SHARED
QUALIFIED
PROP-
ERTY.—For purposes of this paragraph, the 
term ‘shared qualified property’ means, 
with respect to any facility, any property 
described in section 168(e)(3)(B)(vi)—
826 
‘‘(I) which a qualified facility will 
require for utilization of such facility, 
and 
‘‘(II) which is not a qualified fa-
cility. 
‘‘(iv) SPECIAL
RULE
RELATING
TO 
GEOTHERMAL FACILITIES.—In the case of 
any qualified facility using geothermal en-
ergy to produce electricity, the basis of such 
facility for purposes of this paragraph shall 
be determined as though intangible drilling 
and development costs described in section 
263(c) were capitalized rather than ex-
pensed. 
‘‘(E) SPECIAL RULE FOR FIRST AND LAST 
YEAR OF CREDIT PERIOD.—In the case of any 
taxable year any portion of which is not within 
the 10-year period described in subsection 
(a)(2)(A)(ii) with respect to any facility, the 
amount of the limitation under subparagraph 
(A) with respect to such facility shall be reduced 
by an amount which bears the same ratio to the 
amount of such limitation (determined without 
regard to this subparagraph) as such portion of
827 
the taxable year which is not within such period 
bears to the entire taxable year. 
‘‘(F) ELECTION TO TREAT ALL FACILITIES 
PLACED IN SERVICE IN A YEAR AS 1 FACILITY.— 
At the election of the taxpayer, all qualified fa-
cilities which are part of the same project and 
which are placed in service during the same cal-
endar year shall be treated for purposes of this 
section as 1 facility which is placed in service at 
the mid-point of such year or the first day of the 
following calendar year.’’. 
(c) EFFECTIVE DATE.— 
(1) IN GENERAL.—Except as provided in para-
graph (2), the amendments made by this section shall 
apply to property originally placed in service after 
December 31, 2008. 
(2) 
REPEAL
OF
CREDIT
PHASEOUT.—The 
amendments made by subsection (b)(1) shall apply to 
taxable years ending after December 31, 2008. 
SEC. 1502. PRODUCTION CREDIT FOR ELECTRICITY PRO-
DUCED FROM MARINE RENEWABLES. 
(a) IN GENERAL.—Paragraph (1) of section 45(c) (re-
lating to resources) is amended by striking ‘‘and’’ at the 
end of subparagraph (G), by striking the period at the end
828 
of subparagraph (H) and inserting ‘‘, and’’, and by adding 
at the end the following new subparagraph: 
‘‘(I) marine and hydrokinetic renewable en-
ergy.’’. 
(b) MARINE RENEWABLES.—Subsection (c) of section 
45 is amended by adding at the end the following new para-
graph: 
‘‘(10) MARINE AND HYDROKINETIC RENEWABLE 
ENERGY.— 
‘‘(A) IN GENERAL.—The term ‘marine and 
hydrokinetic renewable energy’ means energy de-
rived from— 
‘‘(i) waves, tides, and currents in 
oceans, estuaries, and tidal areas, 
‘‘(ii) free flowing water in rivers, lakes, 
and streams, 
‘‘(iii) free flowing water in an irriga-
tion system, canal, or other man-made 
channel, including projects that utilize non-
mechanical structures to accelerate the flow 
of water for electric power production pur-
poses, or 
‘‘(iv) differentials in ocean temperature 
(ocean thermal energy conversion).
829 
‘‘(B) EXCEPTIONS.—Such term shall not in-
clude any energy which is derived from any 
source which utilizes a dam, diversionary struc-
ture (except as provided in subparagraph 
(A)(iii)), or impoundment for electric power pro-
duction purposes.’’. 
(c) DEFINITION OF FACILITY.—Subsection (d) of sec-
tion 45 is amended by adding at the end the following new 
paragraph: 
‘‘(11) MARINE AND HYDROKINETIC RENEWABLE 
ENERGY FACILITIES.—In the case of a facility pro-
ducing electricity from marine and hydrokinetic re-
newable energy, the term ‘qualified facility’ means 
any facility owned by the taxpayer— 
‘‘(A) which has a nameplate capacity rat-
ing of at least 150 kilowatts, and 
‘‘(B) which is originally placed in service 
on or after the date of the enactment of this 
paragraph and before January 1, 2013.’’. 
(d) CREDIT RATE.—Subparagraph (A) of section 
45(b)(4) is amended by striking ‘‘or (9)’’ and inserting ‘‘(9), 
or (11)’’. 
(e) 
COORDINATION
WITH
SMALL
IRRIGATION 
POWER.—Paragraph (5) of section 45(d), as amended by
830 
this Act, is amended by striking ‘‘January 1, 2013’’ and 
inserting ‘‘the date of the enactment of paragraph (11)’’. 
(f) EFFECTIVE DATE.—The amendments made by this 
section shall apply to electricity produced and sold after 
the date of the enactment of this Act, in taxable years end-
ing after such date. 
SEC. 1503. EXTENSION AND MODIFICATION OF ENERGY 
CREDIT. 
(a) EXTENSION OF CREDIT.— 
(1) SOLAR
ENERGY
PROPERTY.—Paragraphs 
(2)(A)(i)(II) and (3)(A)(ii) of section 48(a) (relating 
to energy credit) are each amended by striking ‘‘Jan-
uary 1, 2009’’ and inserting ‘‘January 1, 2017’’. 
(2) FUEL CELL PROPERTY.—Subparagraph (E) 
of section 48(c)(1) (relating to qualified fuel cell prop-
erty) is amended by striking ‘‘December 31, 2008’’ 
and inserting ‘‘December 31, 2016’’. 
(3) MICROTURBINE
PROPERTY.—Subparagraph 
(E) of section 48(c)(2) (relating to qualified microtur-
bine property) is amended by striking ‘‘December 31, 
2008’’ and inserting ‘‘December 31, 2016’’. 
(b) ALLOWANCE OF ENERGY CREDIT AGAINST ALTER-
NATIVE MINIMUM TAX.—Subparagraph (B) of section 
38(c)(4) (relating to specified credits) is amended by strik-
ing ‘‘and’’ at the end of clause (iii), by striking the period
831 
at the end of clause (iv) and inserting ‘‘, and’’, and by add-
ing at the end the following new clause: 
‘‘(v) the credit determined under sec-
tion 46 to the extent that such credit is at-
tributable to the energy credit determined 
under section 48.’’. 
(c) ENERGY CREDIT
FOR COMBINED HEAT
AND 
POWER SYSTEM PROPERTY.— 
(1) IN GENERAL.—Section 48(a)(3)(A) (defining 
energy property) is amended by striking ‘‘or’’ at the 
end of clause (iii), by inserting ‘‘or’’ at the end of 
clause (iv), and by adding at the end the following 
new clause: 
‘‘(v) combined heat and power system 
property,’’. 
(2) COMBINED HEAT AND POWER SYSTEM PROP-
ERTY.—Section 48 (relating to energy credit; reforest-
ation credit) is amended by adding at the end the fol-
lowing new subsection: 
‘‘(d) COMBINED HEAT AND POWER SYSTEM PROP-
ERTY.—For purposes of subsection (a)(3)(A)(v)— 
‘‘(1) COMBINED HEAT AND POWER SYSTEM PROP-
ERTY.—The term ‘combined heat and power system 
property’ means property comprising a system—
832 
‘‘(A) which uses the same energy source for 
the simultaneous or sequential generation of elec-
trical power, mechanical shaft power, or both, in 
combination with the generation of steam or 
other forms of useful thermal energy (including 
heating and cooling applications), 
‘‘(B) which produces— 
‘‘(i) at least 20 percent of its total use-
ful energy in the form of thermal energy 
which is not used to produce electrical or 
mechanical power (or combination thereof), 
and 
‘‘(ii) at least 20 percent of its total 
useful energy in the form of electrical or me-
chanical power (or combination thereof), 
‘‘(C) the energy efficiency percentage of 
which exceeds 60 percent, and 
‘‘(D) which is placed in service before Janu-
ary 1, 2017. 
‘‘(2) LIMITATION.— 
‘‘(A) IN GENERAL.—In the case of combined 
heat and power system property with an elec-
trical capacity in excess of the applicable capac-
ity placed in service during the taxable year, the 
credit under subsection (a)(1) (determined with-
833 
out regard to this paragraph) for such year shall 
be equal to the amount which bears the same 
ratio to such credit as the applicable capacity 
bears to the capacity of such property. 
‘‘(B) APPLICABLE CAPACITY.—For purposes 
of subparagraph (A), the term ‘applicable capac-
ity’ means 15 megawatts or a mechanical energy 
capacity of more than 20,000 horsepower or an 
equivalent combination of electrical and mechan-
ical energy capacities. 
‘‘(C) MAXIMUM CAPACITY.—The term ‘com-
bined heat and power system property’ shall not 
include any property comprising a system if 
such system has a capacity in excess of 50 
megawatts or a mechanical energy capacity in 
excess of 67,000 horsepower or an equivalent 
combination of electrical and mechanical energy 
capacities. 
‘‘(3) SPECIAL RULES.— 
‘‘(A) ENERGY EFFICIENCY PERCENTAGE.— 
For purposes of this subsection, the energy effi-
ciency percentage of a system is the fraction— 
‘‘(i) the numerator of which is the total 
useful electrical, thermal, and mechanical 
power produced by the system at normal
834 
operating rates, and expected to be con-
sumed in its normal application, and 
‘‘(ii) the denominator of which is the 
lower heating value of the fuel sources for 
the system. 
‘‘(B) DETERMINATIONS
MADE
ON
BTU 
BASIS.—The energy efficiency percentage and the 
percentages under paragraph (1)(B) shall be de-
termined on a Btu basis. 
‘‘(C) INPUT AND OUTPUT PROPERTY NOT IN-
CLUDED.—The term ‘combined heat and power 
system property’ does not include property used 
to transport the energy source to the facility or 
to distribute energy produced by the facility. 
‘‘(4) SYSTEMS USING BIOMASS.—If a system is 
designed to use biomass (within the meaning of para-
graphs (2) and (3) of section 45(c) without regard to 
the last sentence of paragraph (3)(A)) for at least 90 
percent of the energy source— 
‘‘(A) paragraph (1)(C) shall not apply, but 
‘‘(B) the amount of credit determined under 
subsection (a) with respect to such system shall 
not exceed the amount which bears the same 
ratio to such amount of credit (determined with-
out regard to this paragraph) as the energy effi-
835 
ciency percentage of such system bears to 60 per-
cent.’’. 
(d) INCREASE OF CREDIT LIMITATION FOR FUEL CELL 
PROPERTY.—Subparagraph (B) of section 48(c)(1) is 
amended by striking ‘‘$500’’ and inserting ‘‘$1,500’’. 
(e) PUBLIC ELECTRIC UTILITY PROPERTY TAKEN 
INTO ACCOUNT.— 
(1) IN
GENERAL.—Paragraph (3) of section 
48(a) is amended by striking the second sentence 
thereof. 
(2) CONFORMING AMENDMENTS.— 
(A) Paragraph (1) of section 48(c) is 
amended by striking subparagraph (D) and re-
designating subparagraph (E) as subparagraph 
(D). 
(B) Paragraph (2) of section 48(c) is 
amended by striking subparagraph (D) and re-
designating subparagraph (E) as subparagraph 
(D). 
(f) CLERICAL AMENDMENTS.—Paragraphs (1)(B) and 
(2)(B) of section 48(c) are each amended by striking ‘‘para-
graph (1)’’ and inserting ‘‘subsection (a)’’. 
(g) EFFECTIVE DATE.— 
(1) IN GENERAL.—Except as otherwise provided 
in this subsection, the amendments made by this sec-
836 
tion shall take effect on the date of the enactment of 
this Act. 
(2) ALLOWANCE AGAINST ALTERNATIVE MINIMUM 
TAX.—The amendments made by subsection (b) shall 
apply to credits determined under section 46 of the 
Internal Revenue Code of 1986 in taxable years begin-
ning after the date of the enactment of this Act and 
to carrybacks of such credits. 
(3) COMBINED
HEAT
AND
POWER
AND
FUEL 
CELL
PROPERTY.—The amendments made by sub-
sections (c) and (d) shall apply to periods after the 
date of the enactment of this Act, in taxable years 
ending after such date, under rules similar to the 
rules of section 48(m) of the Internal Revenue Code 
of 1986 (as in effect on the day before the date of the 
enactment of the Revenue Reconciliation Act of 1990). 
(4) PUBLIC ELECTRIC UTILITY PROPERTY.—The 
amendments made by subsection (e) shall apply to pe-
riods after June 20, 2007, in taxable years ending 
after such date, under rules similar to the rules of sec-
tion 48(m) of the Internal Revenue Code of 1986 (as 
in effect on the day before the date of the enactment 
of the Revenue Reconciliation Act of 1990).
837 
SEC. 1504. EXTENSION AND MODIFICATION OF CREDIT FOR 
RESIDENTIAL ENERGY EFFICIENT PROPERTY. 
(a) EXTENSION.—Section 25D(g) (relating to termi-
nation) is amended by striking ‘‘December 31, 2008’’ and 
inserting ‘‘December 31, 2014’’. 
(b) MAXIMUM CREDIT FOR SOLAR ELECTRIC PROP-
ERTY.— 
(1) IN GENERAL.—Section 25D(b)(1)(A) (relat-
ing to maximum credit) is amended by striking 
‘‘$2,000’’ and inserting ‘‘$4,000’’. 
(2) 
CONFORMING
AMENDMENT.—Section 
25D(e)(4)(A)(i) is amended by striking ‘‘$6,667’’ and 
inserting ‘‘$13,334’’. 
(c) CREDIT FOR RESIDENTIAL WIND PROPERTY.— 
(1) IN GENERAL.—Section 25D(a) (relating to 
allowance of credit) is amended by striking ‘‘and’’ at 
the end of paragraph (2), by striking the period at the 
end of paragraph (3) and inserting ‘‘, and’’, and by 
adding at the end the following new paragraph: 
‘‘(4) 30 percent of the qualified small wind en-
ergy property expenditures made by the taxpayer 
during such year.’’. 
(2) LIMITATION.—Section 25D(b)(1) (relating to 
maximum credit) is amended by striking ‘‘and’’ at 
the end of subparagraph (B), by striking the period 
at the end of subparagraph (C) and inserting ‘‘,
838 
and’’, and by adding at the end the following new 
subparagraph: 
‘‘(D) $500 with respect to each half kilowatt 
of capacity (not to exceed $4,000) of wind tur-
bines for which qualified small wind energy 
property expenditures are made.’’. 
(3) QUALIFIED SMALL WIND ENERGY PROPERTY 
EXPENDITURES.— 
(A) IN GENERAL.—Section 25D(d) (relating 
to definitions) is amended by adding at the end 
the following new paragraph: 
‘‘(4) QUALIFIED SMALL WIND ENERGY PROPERTY 
EXPENDITURE.—The term ‘qualified small wind en-
ergy property expenditure’ means an expenditure for 
property which uses a wind turbine to generate elec-
tricity for use in connection with a dwelling unit lo-
cated in the United States and used as a residence by 
the taxpayer.’’. 
(B) 
NO
DOUBLE
BENEFIT.—Section 
45(d)(1) (relating to wind facility) is amended 
by adding at the end the following new sentence: 
‘‘Such term shall not include any facility with 
respect to which any qualified small wind energy 
property expenditure (as defined in subsection
839 
(d)(4) of section 25D) is taken into account in 
determining the credit under such section.’’. 
(4) MAXIMUM EXPENDITURES IN CASE OF JOINT 
OCCUPANCY.—Section 25D(e)(4)(A) (relating to max-
imum expenditures) is amended by striking ‘‘and’’ at 
the end of clause (ii), by striking the period at the 
end of clause (iii) and inserting ‘‘, and’’, and by add-
ing at the end the following new clause: 
‘‘(iv) $1,667 in the case of each half 
kilowatt of capacity of wind turbines for 
which qualified small wind energy property 
expenditures are made.’’. 
(d) CREDIT ALLOWED AGAINST ALTERNATIVE MIN-
IMUM TAX.— 
(1) IN GENERAL.—Subsection (c) of section 25D 
is amended to read as follows: 
‘‘(c) LIMITATION
BASED
ON
AMOUNT
OF
TAX; 
CARRYFORWARD OF UNUSED CREDIT.— 
‘‘(1) LIMITATION BASED ON AMOUNT OF TAX.— 
In the case of a taxable year to which section 26(a)(2) 
does not apply, the credit allowed under subsection 
(a) for the taxable year shall not exceed the excess 
of—
840 
‘‘(A) the sum of the regular tax liability (as 
defined in section 26(b)) plus the tax imposed by 
section 55, over 
‘‘(B) the sum of the credits allowable under 
this subpart (other than this section) and section 
27 for the taxable year. 
‘‘(2) CARRYFORWARD OF UNUSED CREDIT.— 
‘‘(A) RULE FOR YEARS IN WHICH ALL PER-
SONAL
CREDITS
ALLOWED
AGAINST
REGULAR 
AND ALTERNATIVE MINIMUM TAX.—In the case of 
a taxable year to which section 26(a)(2) applies, 
if the credit allowable under subsection (a) ex-
ceeds the limitation imposed by section 26(a)(2) 
for such taxable year reduced by the sum of the 
credits allowable under this subpart (other than 
this section), such excess shall be carried to the 
succeeding taxable year and added to the credit 
allowable under subsection (a) for such suc-
ceeding taxable year. 
‘‘(B) RULE FOR OTHER YEARS.—In the case 
of a taxable year to which section 26(a)(2) does 
not apply, if the credit allowable under sub-
section (a) exceeds the limitation imposed by 
paragraph (1) for such taxable year, such excess 
shall be carried to the succeeding taxable year
841 
and added to the credit allowable under sub-
section (a) for such succeeding taxable year.’’. 
(2) CONFORMING AMENDMENTS.— 
(A) Section 23(b)(4)(B) is amended by in-
serting ‘‘and section 25D’’ after ‘‘this section’’. 
(B) Section 24(b)(3)(B) is amended by 
striking ‘‘and 25B’’ and inserting ‘‘, 25B, and 
25D’’. 
(C) Section 25B(g)(2) is amended by strik-
ing ‘‘section 23’’ and inserting ‘‘sections 23 and 
25D’’. 
(D) Section 26(a)(1) is amended by striking 
‘‘and 25B’’ and inserting ‘‘25B, and 25D’’. 
(e) EFFECTIVE DATES.— 
(1) IN GENERAL.—Except as otherwise provided 
in this subsection, the amendments made by this sec-
tion shall apply to expenditures after December 31, 
2007. 
(2) ALLOWANCE AGAINST ALTERNATIVE MINIMUM 
TAX.— 
(A) IN GENERAL.—The amendments made 
by subsection (d) shall apply to taxable years be-
ginning after the date of the enactment of this 
Act.
842 
(B) APPLICATION OF EGTRRA SUNSET.—The 
amendments made by subparagraphs (A) and 
(B) of subsection (d)(2) shall be subject to title 
IX of the Economic Growth and Tax Relief Rec-
onciliation Act of 2001 in the same manner as 
the provisions of such Act to which such amend-
ments relate. 
SEC. 1505. EXTENSION AND MODIFICATION OF SPECIAL 
RULE TO IMPLEMENT FERC AND STATE ELEC-
TRIC RESTRUCTURING POLICY. 
(a) EXTENSION
FOR QUALIFIED ELECTRIC UTILI-
TIES.— 
(1) IN
GENERAL.—Paragraph (3) of section 
451(i) (relating to special rule for sales or disposi-
tions to implement Federal Energy Regulatory Com-
mission or State electric restructuring policy) is 
amended by inserting ‘‘(before January 1, 2010, in 
the case of a qualified electric utility)’’ after ‘‘Janu-
ary 1, 2008’’. 
(2) QUALIFIED ELECTRIC UTILITY.—Subsection 
(i) of section 451 is amended by redesignating para-
graphs (6) through (10) as paragraphs (7) through 
(11), respectively, and by inserting after paragraph 
(5) the following new paragraph:
843 
‘‘(6) QUALIFIED ELECTRIC UTILITY.—For pur-
poses of this subsection, the term ‘qualified electric 
utility’ means a person that, as of the date of the 
qualifying 
electric 
transmission 
transaction, 
is 
vertically integrated, in that it is both— 
‘‘(A) a transmitting utility (as defined in 
section 3(23) of the Federal Power Act (16 
U.S.C. 796(23)) with respect to the transmission 
facilities to which the election under this sub-
section applies, and 
‘‘(B) an electric utility (as defined in sec-
tion 3(22) of the Federal Power Act (16 U.S.C. 
796(22)).’’. 
(b) EXTENSION OF PERIOD FOR TRANSFER OF OPER-
ATIONAL CONTROL AUTHORIZED BY FERC.—Clause (ii) of 
section 451(i)(4)(B) is amended by striking ‘‘December 31, 
2007’’ and inserting ‘‘the date which is 4 years after the 
close of the taxable year in which the transaction occurs’’. 
(c) PROPERTY
LOCATED
OUTSIDE
THE
UNITED 
STATES NOT TREATED AS EXEMPT UTILITY PROPERTY.— 
Paragraph (5) of section 451(i) is amended by adding at 
the end the following new subparagraph: 
‘‘(C) EXCEPTION FOR PROPERTY LOCATED 
OUTSIDE THE UNITED STATES.—The term ‘ex-
empt utility property’ shall not include any
844 
property which is located outside the United 
States.’’. 
(d) EFFECTIVE DATES.— 
(1) EXTENSION.—The amendments made by sub-
section (a) shall apply to transactions after December 
31, 2007. 
(2) TRANSFERS
OF
OPERATIONAL
CONTROL.— 
The amendment made by subsection (b) shall take ef-
fect as if included in section 909 of the American Jobs 
Creation Act of 2004. 
(3) EXCEPTION FOR PROPERTY LOCATED OUT-
SIDE THE UNITED STATES.—The amendment made by 
subsection (c) shall apply to transactions after the 
date of the enactment of this Act. 
SEC. 1506. NEW CLEAN RENEWABLE ENERGY BONDS. 
(a) IN GENERAL.—Part IV of subchapter A of chapter 
1 (relating to credits against tax) is amended by adding 
at the end the following new subpart: 
‘‘Subpart I—Qualified Tax Credit Bonds 
‘‘Sec. 54A. Credit to holders of qualified tax credit bonds. 
‘‘Sec. 54B. New clean renewable energy bonds. 
‘‘SEC. 54A. CREDIT TO HOLDERS OF QUALIFIED TAX CREDIT 
BONDS. 
‘‘(a) ALLOWANCE OF CREDIT.—If a taxpayer holds a 
qualified tax credit bond on one or more credit allowance 
dates of the bond during any taxable year, there shall be
845 
allowed as a credit against the tax imposed by this chapter 
for the taxable year an amount equal to the sum of the cred-
its determined under subsection (b) with respect to such 
dates. 
‘‘(b) AMOUNT OF CREDIT.— 
‘‘(1) IN GENERAL.—The amount of the credit de-
termined under this subsection with respect to any 
credit allowance date for a qualified tax credit bond 
is 25 percent of the annual credit determined with re-
spect to such bond. 
‘‘(2) ANNUAL CREDIT.—The annual credit deter-
mined with respect to any qualified tax credit bond 
is the product of— 
‘‘(A) the applicable credit rate, multiplied 
by 
‘‘(B) the outstanding face amount of the 
bond. 
‘‘(3) APPLICABLE CREDIT RATE.—For purposes 
of paragraph (2), the applicable credit rate is 70 per-
cent of the rate which the Secretary estimates will 
permit the issuance of qualified tax credit bonds with 
a specified maturity or redemption date without dis-
count and without interest cost to the qualified issuer. 
The applicable credit rate with respect to any quali-
fied tax credit bond shall be determined as of the first
846 
day on which there is a binding, written contract for 
the sale or exchange of the bond. 
‘‘(4) SPECIAL RULE FOR ISSUANCE AND REDEMP-
TION.—In the case of a bond which is issued during 
the 3-month period ending on a credit allowance date, 
the amount of the credit determined under this sub-
section with respect to such credit allowance date 
shall be a ratable portion of the credit otherwise deter-
mined based on the portion of the 3-month period 
during which the bond is outstanding. A similar rule 
shall apply when the bond is redeemed or matures. 
‘‘(c) LIMITATION BASED ON AMOUNT OF TAX.— 
‘‘(1) IN
GENERAL.—The credit allowed under 
subsection (a) for any taxable year shall not exceed 
the excess of— 
‘‘(A) the sum of the regular tax liability (as 
defined in section 26(b)) plus the tax imposed by 
section 55, over 
‘‘(B) the sum of the credits allowable under 
this part (other than subpart C and this sub-
part). 
‘‘(2) CARRYOVER
OF
UNUSED
CREDIT.—If the 
credit allowable under subsection (a) exceeds the limi-
tation imposed by paragraph (1) for such taxable 
year, such excess shall be carried to the succeeding
847 
taxable year and added to the credit allowable under 
subsection (a) for such taxable year (determined be-
fore the application of paragraph (1) for such suc-
ceeding taxable year). 
‘‘(d) QUALIFIED TAX CREDIT BOND.—For purposes of 
this section— 
‘‘(1) QUALIFIED TAX CREDIT BOND.—The term 
‘qualified tax credit bond’ means a new clean renew-
able energy bond which is part of an issue that meets 
the requirements of paragraphs (2), (3), (4), (5), and 
(6). 
‘‘(2) SPECIAL
RULES
RELATING
TO
EXPENDI-
TURES.— 
‘‘(A) IN GENERAL.—An issue shall be treat-
ed as meeting the requirements of this paragraph 
if, as of the date of issuance, the issuer reason-
ably expects— 
‘‘(i) 100 percent or more of the avail-
able project proceeds to be spent for 1 or 
more qualified purposes within the 3-year 
period beginning on such date of issuance, 
and 
‘‘(ii) a binding commitment with a 
third party to spend at least 10 percent of 
such available project proceeds will be in-
848 
curred within the 6-month period beginning 
on such date of issuance. 
‘‘(B) 
FAILURE
TO
SPEND
REQUIRED 
AMOUNT OF BOND PROCEEDS WITHIN 3 YEARS.— 
‘‘(i) IN GENERAL.—To the extent that 
less than 100 percent of the available project 
proceeds of the issue are expended by the 
close of the expenditure period for 1 or more 
qualified purposes, the issuer shall redeem 
all of the nonqualified bonds within 90 days 
after the end of such period. For purposes of 
this paragraph, the amount of the non-
qualified bonds required to be redeemed 
shall be determined in the same manner as 
under section 142. 
‘‘(ii) 
EXPENDITURE
PERIOD.—For 
purposes of this subpart, the term ‘expendi-
ture period’ means, with respect to any 
issue, the 3-year period beginning on the 
date of issuance. Such term shall include 
any extension of such period under clause 
(iii). 
‘‘(iii) EXTENSION OF PERIOD.—Upon 
submission of a request prior to the expira-
tion of the expenditure period (determined
849 
without regard to any extension under this 
clause), the Secretary may extend such pe-
riod if the issuer establishes that the failure 
to expend the proceeds within the original 
expenditure period is due to reasonable 
cause and the expenditures for qualified 
purposes will continue to proceed with due 
diligence. 
‘‘(C) QUALIFIED
PURPOSE.—For purposes 
of this paragraph, the term ‘qualified purpose’ 
means a purpose specified in section 54B(a)(1). 
‘‘(D) REIMBURSEMENT.—For purposes of 
this subtitle, available project proceeds of an 
issue shall be treated as spent for a qualified 
purpose if such proceeds are used to reimburse 
the issuer for amounts paid for a qualified pur-
pose after the date that the Secretary makes an 
allocation of bond limitation with respect to such 
issue, but only if— 
‘‘(i) prior to the payment of the origi-
nal expenditure, the issuer declared its in-
tent to reimburse such expenditure with the 
proceeds of a qualified tax credit bond, 
‘‘(ii) not later than 60 days after pay-
ment of the original expenditure, the issuer
850 
adopts an official intent to reimburse the 
original expenditure with such proceeds, 
and 
‘‘(iii) the reimbursement is made not 
later than 18 months after the date the 
original expenditure is paid. 
‘‘(3) REPORTING.—An issue shall be treated as 
meeting the requirements of this paragraph if the 
issuer of qualified tax credit bonds submits reports 
similar to the reports required under section 149(e). 
‘‘(4) SPECIAL
RULES
RELATING
TO
ARBI-
TRAGE.— 
‘‘(A) IN GENERAL.—An issue shall be treat-
ed as meeting the requirements of this paragraph 
if the issuer satisfies the requirements of section 
148 with respect to the proceeds of the issue. 
‘‘(B) SPECIAL
RULE
FOR
INVESTMENTS 
DURING EXPENDITURE PERIOD.—An issue shall 
not be treated as failing to meet the requirements 
of subparagraph (A) by reason of any investment 
of available project proceeds during the expendi-
ture period. 
‘‘(C) 
SPECIAL
RULE
FOR
RESERVE 
FUNDS.—An issue shall not be treated as failing 
to meet the requirements of subparagraph (A) by
851 
reason of any fund which is expected to be used 
to repay such issue if— 
‘‘(i) such fund is funded at a rate not 
more rapid than equal annual installments, 
‘‘(ii) such fund is funded in a manner 
reasonably expected to result in an amount 
not greater than an amount necessary to 
repay the issue, and 
‘‘(iii) the yield on such fund is not 
greater than the discount rate determined 
under paragraph (5)(B) with respect to the 
issue. 
‘‘(5) MATURITY LIMITATION.— 
‘‘(A) IN GENERAL.—An issue shall be treat-
ed as meeting the requirements of this paragraph 
if the maturity of any bond which is part of 
such issue does not exceed the maximum term de-
termined by the Secretary under subparagraph 
(B). 
‘‘(B) MAXIMUM
TERM.—During each cal-
endar month, the Secretary shall determine the 
maximum term permitted under this paragraph 
for bonds issued during the following calendar 
month. Such maximum term shall be the term 
which the Secretary estimates will result in the
852 
present value of the obligation to repay the prin-
cipal on the bond being equal to 50 percent of the 
face amount of such bond. Such present value 
shall be determined using as a discount rate the 
average annual interest rate of tax-exempt obli-
gations having a term of 10 years or more which 
are issued during the month. If the term as so 
determined is not a multiple of a whole year, 
such term shall be rounded to the next highest 
whole year. 
‘‘(6) PROHIBITION ON FINANCIAL CONFLICTS OF 
INTEREST.—An issue shall be treated as meeting the 
requirements of this paragraph if the issuer certifies 
that— 
‘‘(A) applicable State and local law require-
ments governing conflicts of interest are satisfied 
with respect to such issue, and 
‘‘(B) if the Secretary prescribes additional 
conflicts of interest rules governing the appro-
priate Members of Congress, Federal, State, and 
local officials, and their spouses, such additional 
rules are satisfied with respect to such issue. 
‘‘(e) OTHER DEFINITIONS.—For purposes of this sub-
chapter—
853 
‘‘(1) CREDIT
ALLOWANCE
DATE.—The term 
‘credit allowance date’ means— 
‘‘(A) March 15, 
‘‘(B) June 15, 
‘‘(C) September 15, and 
‘‘(D) December 15. 
Such term includes the last day on which the bond is 
outstanding. 
‘‘(2) BOND.—The term ‘bond’ includes any obli-
gation. 
‘‘(3) STATE.—The term ‘State’ includes the Dis-
trict of Columbia and any possession of the United 
States. 
‘‘(4) AVAILABLE PROJECT PROCEEDS.—The term 
‘available project proceeds’ means— 
‘‘(A) the excess of— 
‘‘(i) the proceeds from the sale of an 
issue, over 
‘‘(ii) the issuance costs financed by the 
issue (to the extent that such costs do not 
exceed 2 percent of such proceeds), and 
‘‘(B) the proceeds from any investment of 
the excess described in subparagraph (A). 
‘‘(f) CREDIT TREATED AS INTEREST.—For purposes of 
this subtitle, the credit determined under subsection (a)
854 
shall be treated as interest which is includible in gross in-
come. 
‘‘(g) S CORPORATIONS AND PARTNERSHIPS.—In the 
case of a tax credit bond held by an S corporation or part-
nership, the allocation of the credit allowed by this section 
to the shareholders of such corporation or partners of such 
partnership shall be treated as a distribution. 
‘‘(h) BONDS HELD BY REGULATED INVESTMENT COM-
PANIES AND REAL ESTATE INVESTMENT TRUSTS.—If any 
qualified tax credit bond is held by a regulated investment 
company or a real estate investment trust, the credit deter-
mined under subsection (a) shall be allowed to shareholders 
of such company or beneficiaries of such trust (and any 
gross income included under subsection (f) with respect to 
such credit shall be treated as distributed to such share-
holders or beneficiaries) under procedures prescribed by the 
Secretary. 
‘‘(i) CREDITS MAY BE STRIPPED.—Under regulations 
prescribed by the Secretary— 
‘‘(1) IN GENERAL.—There may be a separation 
(including at issuance) of the ownership of a qualified 
tax credit bond and the entitlement to the credit 
under this section with respect to such bond. In case 
of any such separation, the credit under this section 
shall be allowed to the person who on the credit allow-
860 
(2) Section 1397E(c)(2) is amended by striking 
‘‘subpart H’’ and inserting ‘‘subparts H and I’’. 
(3) Section 6401(b)(1) is amended by striking 
‘‘and H’’ and inserting ‘‘H, and I’’. 
(4) The heading of subpart H of part IV of sub-
chapter A of chapter 1 is amended by striking ‘‘Cer-
tain Bonds’’ and inserting ‘‘Clean Renewable 
Energy Bonds’’. 
(5) The table of subparts for part IV of sub-
chapter A of chapter 1 is amended by striking the 
item relating to subpart H and inserting the fol-
lowing new items: 
‘‘SUBPART H. NONREFUNDABLE CREDIT TO HOLDERS OF CLEAN RENEWABLE 
ENERGY BONDS. 
‘‘SUBPART I. QUALIFIED TAX CREDIT BONDS.’’. 
(d) APPLICATION OF CERTAIN LABOR STANDARDS ON 
PROJECTS FINANCED UNDER TAX CREDIT BONDS.—Sub-
chapter IV of chapter 31 of title 40, United States Code, 
shall apply to projects financed with the proceeds of any 
tax credit bond (as defined in section 54A of the Internal 
Revenue Code of 1986). 
(e) EFFECTIVE DATES.—The amendments made by 
this section shall apply to obligations issued after the date 
of the enactment of this Act.
861 
PART II—PROVISIONS RELATING TO CARBON 
MITIGATION AND COAL 
SEC. 1507. EXPANSION AND MODIFICATION OF ADVANCED 
COAL PROJECT INVESTMENT CREDIT. 
(a) MODIFICATION
OF
CREDIT
AMOUNT.—Section 
48A(a) (relating to qualifying advanced coal project credit) 
is amended by striking ‘‘and’’ at the end of paragraph (1), 
by striking the period at the end of paragraph (2) and in-
serting ‘‘, and’’, and by adding at the end the following 
the paragraph: 
‘‘(3) 30 percent of the qualified investment for 
such taxable year in the case of projects described in 
clauses (iii) or (iv) of subsection (d)(3)(B).’’. 
(b) EXPANSION
OF AGGREGATE CREDITS.—Section 
48A(d)(3)(A) (relating to aggregate credits) is amended by 
striking ‘‘$1,300,000,000’’ and inserting ‘‘$2,800,000,000’’. 
(c) AUTHORIZATION OF ADDITIONAL PROJECTS.— 
(1) IN GENERAL.—Subparagraph (B) of section 
48A(d)(3) (relating to aggregate credits) is amended 
to read as follows: 
‘‘(B) PARTICULAR PROJECTS.—Of the dollar 
amount in subparagraph (A), the Secretary is 
authorized to certify— 
‘‘(i) $800,000,000 for integrated gasifi-
cation combined cycle projects the applica-