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year shall not exceed the amount which bears the
same ratio to such amount of credit as—
‘‘(A) the national megawatt capacity limi-
tation allocated to the facility, bears to
‘‘(B) the total megawatt nameplate capacity
of such facility.
‘‘(2) AMOUNT
OF
NATIONAL
LIMITATION.—The
national megawatt capacity limitation shall be 6,000
megawatts.
‘‘(3) ALLOCATION
OF
LIMITATION.—The Sec-
retary shall allocate the national megawatt capacity
limitation in such manner as the Secretary may pre-
scribe.
‘‘(4) REGULATIONS.—Not later than 6 months
after the date of the enactment of this section, the Sec-
retary shall prescribe such regulations as may be nec-
essary or appropriate to carry out the purposes of
this subsection. Such regulations shall provide a cer-
tification process under which the Secretary, after
consultation with the Secretary of Energy, shall ap-
prove and allocate the national megawatt capacity
limitation.
‘‘(c) OTHER LIMITATIONS.—
‘‘(1) ANNUAL LIMITATION.—The amount of the
credit allowable under subsection (a) (after the appli-
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cation of subsection (b)) for any taxable year with re-
spect to any facility shall not exceed an amount
which bears the same ratio to $125,000,000 as—
‘‘(A) the national megawatt capacity limi-
tation allocated under subsection (b) to the facil-
ity, bears to
‘‘(B) 1,000.
‘‘(2) OTHER LIMITATIONS.—Rules similar to the
rules of section 45(b)(1) shall apply for purposes of
this section.
‘‘(d) ADVANCED NUCLEAR POWER FACILITY.—For
purposes of this section—
‘‘(1) IN GENERAL.—The term ‘advanced nuclear
power 
facility’ 
means 
any 
advanced 
nuclear
facility—
‘‘(A) which is owned by the taxpayer and
which uses nuclear energy to produce electricity,
and
‘‘(B) which is placed in service after the
date of the enactment of this paragraph and be-
fore January 1, 2021.
‘‘(2) ADVANCED NUCLEAR FACILITY.—For pur-
poses of paragraph (1), the term ‘advanced nuclear
facility’ means any nuclear facility the reactor design
for which is approved after December 31, 1993, by the
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Nuclear Regulatory Commission (and such design or
a substantially similar design of comparable capacity
was not approved on or before such date).
‘‘(e) OTHER RULES TO APPLY.—Rules similar to the
rules of paragraphs (1), (2), (3), (4), and (5) of section
45(e) shall apply for purposes of this section.’’
(b) CREDIT TREATED AS BUSINESS CREDIT.—Section
38(b) is amended by striking ‘‘plus’’ at the end of para-
graph (18), by striking the period at the end of paragraph
(19) and inserting ‘‘, plus’’, and by adding at the end the
following:
‘‘(20) the advanced nuclear power facility pro-
duction credit determined under section 45J(a).’’.
(c) CLERICAL AMENDMENT.—The table of sections for
subpart D of part IV of subchapter A of chapter 1 is amend-
ed by adding at the end the following:
‘‘Sec. 45J. Credit for production from advanced nuclear power fa-
cilities.’’.
(d) EFFECTIVE DATE.—The amendments made by this
section shall apply to production in taxable years beginning
after the date of the enactment of this Act.
SEC. 1508. CREDIT FOR INVESTMENT IN CLEAN COAL FA-
CILITIES.
(a) IN GENERAL.—Section 46 (relating to amount of
credit) is amended by striking ‘‘and’’ at the end of para-
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graph (1), by striking the period at the end of paragraph
(2), and by adding at the end the following new paragraphs:
‘‘(3) the qualifying advanced coal project credit,
and
‘‘(4) the qualifying gasification project credit.’’.
(b) AMOUNT OF CREDITS.—Subpart E of part IV of
subchapter A of chapter 1 (relating to rules for computing
investment credit) is amended by inserting after section 48
the following new sections:
‘‘SEC. 48A. QUALIFYING ADVANCED COAL PROJECT CREDIT.
‘‘(a) IN GENERAL.—For purposes of section 46, the
qualifying advanced coal project 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 property placed in service by the taxpayer
during such taxable year which is part of a quali-
fying advanced coal project—
‘‘(A)(i) the construction, reconstruction, or
erection of which is completed by the taxpayer,
or
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‘‘(ii) which is acquired by the taxpayer if
the original use of such property commences with
the taxpayer, and
‘‘(B) with respect to which depreciation (or
amortization in lieu of depreciation) is allow-
able.
‘‘(2) APPLICABLE RULES.—For purposes of this
section, rules similar to the rules of subsection (a)(4)
and (b) of section 48 shall apply.
‘‘(c) DEFINITIONS.—For purposes of this section—
‘‘(1) QUALIFYING ADVANCED COAL PROJECT.—
The term ‘qualifying advanced coal project’ means a
project which meets the requirements of subsection (e).
‘‘(2) ADVANCED COAL-BASED GENERATION TECH-
NOLOGY.—The term ‘advanced coal-based generation
technology’ means a technology which meets the re-
quirements of subsection (g).
‘‘(3) COAL.—The term ‘coal’ means any carbon-
ized or semicarbonized matter, including peat.
‘‘(4) GREENHOUSE GAS CAPTURE CAPABILITY.—
The term ‘greenhouse gas capture capability’ means
an integrated gasification combined cycle technology
facility capable of adding components which can cap-
ture, separate on a long-term basis, isolate, remove,