‘‘(C) SPECIAL RULES FOR DETERMINING 
AMOUNT OF CREDIT.—For purposes of applying 
subpart F of part IV of subchapter A of this 
chapter to wages paid or incurred to any Clean 
Energy Business Zone business employee— 
‘‘(i) subsections (c)(4) and (i)(2) of 
section 51 shall not apply, and 
‘‘(ii) in determining qualified wages, 
the following shall apply in lieu of section 
51(b): 
‘‘(I) QUALIFIED
WAGES.—The 
term ‘qualified wages’ means wages 
paid or incurred by the employer to 
individuals who are Clean Energy 
Business Zone business employees of 
such employer for work performed 
during calendar year 2012. 
‘‘(II) ONLY
FIRST
$12,000
OF 
WAGES PER CALENDAR YEAR TAKEN 
INTO ACCOUNT.—The amount of the 
qualified wages which may be taken 
into account with respect to any indi-
vidual shall not exceed $12,000 per 
calendar year. 
‘‘(c) CLEAN RENEWABLE ENERGY BONDS.— 
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‘‘(1) IN
GENERAL.—For purposes of section 
54(c)(2), the term ‘qualified facility’ includes— 
‘‘(A) any qualified Green building, and 
‘‘(B) any qualified clean energy facility. 
‘‘(2) EXTENSION.—In the case of bonds which 
are clean renewable energy bonds under section 54 
solely by reason of this subsection, section 54(m) 
shall be applied by substituting ‘December 31, 2022’ 
for ‘December 31, 2009’. 
‘‘(d) INCREASED
EXPENSING
UNDER
SECTION 
179.— 
‘‘(1) IN
GENERAL.—For purposes of section 
179, the dollar amount in effect under section 
179(b)(1) for the taxable year shall be increased by 
the lesser of— 
‘‘(A) $250,000, or 
‘‘(B) the cost of qualified section 179 
Clean Energy Business Zone property placed in 
service during the taxable year. 
‘‘(2) QUALIFIED SECTION 179 CLEAN ENERGY 
BUSINESS ZONE PROPERTY.—For purposes of this 
subsection— 
‘‘(A) IN
GENERAL.—The term ‘qualified 
section 179 Clean Energy Business Zone prop-
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erty’ means section 179 property (as defined in 
section 179(d))— 
‘‘(i) which is described in section 
168(k)(2)(A)(i) or which is nonresidential 
real property or residential rental property, 
‘‘(ii) substantially all of the use of 
which is in— 
‘‘(I) a qualified Green building or 
a qualified clean energy facility, and 
‘‘(II) the active conduct of a 
trade or business by the taxpayer in 
such Zone, 
‘‘(iii) the original use of which in the 
Clean Energy Business Zone commences 
with the taxpayer on or after the date of 
the enactment of this section, 
‘‘(iv) which is acquired by the tax-
payer by purchase (as defined in section 
179(d)) on or after such date, but only if 
no written binding contract for the acquisi-
tion was in effect before such date, and 
‘‘(v) which is placed in service by the 
taxpayer during the 2-year period begin-
ning on such date (during the 3-year pe-
riod beginning on such date, in the case of 
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nonresidential real property and residential 
rental property). 
‘‘(B) EXCEPTIONS.— 
‘‘(i) 
ALTERNATIVE
DEPRECIATION 
PROPERTY.—Such term shall not include 
any 
property 
described 
in 
section 
168(k)(2)(D)(i). 
‘‘(ii) TAX-EXEMPT
BOND-FINANCED 
PROPERTY.—Such term shall not include 
any property any portion of which is fi-
nanced with the proceeds of any obligation 
the interest on which is exempt from tax 
under section 103. 
‘‘(iii) ELECTION OUT.—If a taxpayer 
makes an election under this clause with 
respect to any class of property for any 
taxable year, this subsection shall not 
apply to all property in such class placed 
in service during such taxable year. 
‘‘(3) SPECIAL
RULES.—For purposes of this 
subsection, rules similar to the rules of subpara-
graph (E) of section 168(k)(2) shall apply, except 
that such subparagraph shall be applied— 
‘‘(A) without regard to ‘and before Janu-
ary 1, 2013’ in clause (i) thereof, and 
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‘‘(B) by substituting ‘qualified Clean En-
ergy Business Zone property’ for ‘qualified 
property’ in clause (iv) thereof. 
‘‘(4) ALLOWANCE AGAINST ALTERNATIVE MIN-
IMUM TAX.—For purposes of this subsection, rules 
similar to the rules of section 168(k)(2)(G) shall 
apply. 
‘‘(5) RECAPTURE.—For purposes of this sub-
section, rules similar to the rules under section 
179(d)(10) shall apply with respect to any qualified 
section 179 Clean Energy Business Zone property 
which ceases to be qualified section 179 Clean En-
ergy Business Zone property. 
‘‘(e) EXCLUSION OF CAPITAL GAIN ON STOCK IN 
QUALIFIED BUSINESSES.— 
‘‘(1) IN GENERAL.—Gross income shall not in-
clude qualified capital gain from the sale or ex-
change of any Clean Energy Business Zone asset 
held for more than 5 years. 
‘‘(2) CLEAN ENERGY BUSINESS ZONE ASSET.— 
For purposes of this subsection— 
‘‘(A) IN GENERAL.—The term ‘Clean En-
ergy Business Zone asset’ means— 
‘‘(i) any Clean Energy Business Zone 
business stock, 
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‘‘(ii) any Clean Energy Business Zone 
partnership interest, and 
‘‘(iii) any Clean Energy Business 
Zone business property. 
‘‘(B) CLEAN
ENERGY
BUSINESS
ZONE 
BUSINESS STOCK.— 
‘‘(i) IN GENERAL.—The term ‘Clean 
Energy Business Zone business stock’ 
means any stock in a domestic corporation 
which is originally issued after the date of 
the enactment of this section if— 
‘‘(I) such stock is acquired by the 
taxpayer, before January 1, 2015, at 
its original issue (directly or through 
an underwriter) solely in exchange for 
cash, 
‘‘(II) as of the time such stock 
was issued, such corporation was a 
Clean Energy Business Zone business 
(or, in the case of a new corporation, 
such corporation was being organized 
for purposes of being a Clean Energy 
Business Zone business), and 
‘‘(III) during substantially all of 
the taxpayer’s holding period for such 
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stock, such corporation qualified as a 
Clean Energy Business Zone business. 
‘‘(ii) REDEMPTIONS.—A rule similar 
to the rule of section 1202(c)(3) shall 
apply for purposes of this paragraph. 
‘‘(C) CLEAN
ENERGY
BUSINESS
ZONE 
PARTNERSHIP
INTEREST.—The term ‘Clean 
Energy Business Zone partnership interest’ 
means any capital or profits interest in a do-
mestic partnership which is originally issued 
after the date of the enactment of this section 
if— 
‘‘(i) such interest is acquired by the 
taxpayer, before January 1, 2015, from 
the partnership solely in exchange for cash, 
‘‘(ii) as of the time such interest was 
acquired, such partnership was a Clean 
Energy Business Zone business (or, in the 
case of a new partnership, such partner-
ship was being organized for purposes of 
being a Clean Energy Business Zone busi-
ness), and 
‘‘(iii) during substantially all of the 
taxpayer’s holding period for such interest, 
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such partnership qualified as a Clean En-
ergy Business Zone business. 
A rule similar to the rule of subparagraph 
(B)(ii) shall apply for purposes of this subpara-
graph. 
‘‘(D) CLEAN
ENERGY
BUSINESS
ZONE 
BUSINESS PROPERTY.— 
‘‘(i) IN GENERAL.—The term ‘Clean 
Energy Business Zone business property’ 
means property which is a qualified Green 
building if— 
‘‘(I) such property was acquired 
by the taxpayer by purchase (as de-
fined in section 179(d)(2)) after the 
date of the enactment of this section 
and before January 1, 2015, 
‘‘(II) the original use of such 
property in the Clean Energy Busi-
ness Zone commences with the tax-
payer, and 
‘‘(III) during substantially all of 
the taxpayer’s holding period for such 
property, substantially all of the use 
of such property was in a Clean En-
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ergy Business Zone business of the 
taxpayer. 
‘‘(ii) SPECIAL RULE FOR BUILDINGS 
WHICH ARE SUBSTANTIALLY IMPROVED.— 
‘‘(I) IN GENERAL.—The require-
ments of subclauses (I) and (II) of 
clause (i) shall be treated as met with 
respect to— 
‘‘(aa) property which is sub-
stantially improved by the tax-
payer before January 1, 2015, 
and 
‘‘(bb) any land on which 
such property is located. 
‘‘(II) 
SUBSTANTIAL
IMPROVE-
MENT.—For purposes of subclause 
(I), property shall be treated as sub-
stantially improved by the taxpayer 
only if, during any 24-month period 
beginning after December 31, 1999, 
additions to basis with respect to such 
property in the hands of the taxpayer 
exceed the greater of $5,000 or an 
amount equal to the adjusted basis of 
such property at the beginning of 
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such 24-month period in the hands of 
the taxpayer. 
‘‘(E) TREATMENT
OF
CLEAN
ENERGY 
BUSINESS
ZONE
TERMINATION.—The termi-
nation of the designation of the Clean Energy 
Business Zone shall be disregarded for purposes 
of determining whether any property is a Clean 
Energy Business Zone asset. 
‘‘(F) TREATMENT OF SUBSEQUENT PUR-
CHASERS, ETC.—The term ‘Clean Energy Busi-
ness Zone asset’ includes any property which 
would be a Clean Energy Business Zone asset 
but for subparagraph (B)(i)(I), (C)(i), or (D)(i) 
(I) or (II) in the hands of the taxpayer if such 
property was a Clean Energy Business Zone 
asset in the hands of a prior holder. 
‘‘(G) 5-YEAR SAFE HARBOR.—If any prop-
erty ceases to be a Clean Energy Business Zone 
asset by reason of subparagraph (B)(i)(III), 
(C)(iii), or (D)(i)(III) after the 5-year period 
beginning on the date the taxpayer acquired 
such property, such property shall continue to 
be treated as meeting the requirements of such 
paragraph; except that the amount of gain to 
which paragraph (1) applies on any sale or ex-
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change of such property shall not exceed the 
amount which would be qualified capital gain 
had such property been sold on the date of such 
cessation. 
‘‘(3) CLEAN
ENERGY
BUSINESS
ZONE
BUSI-
NESS.—For purposes of this subsection, the term 
‘Clean Energy Business Zone business’ means any 
trade or business if— 
‘‘(A) all buildings located in any Clean En-
ergy Business Zone which are owned or occu-
pied by such trade or business are qualified 
Green buildings or qualified clean energy facili-
ties, and 
‘‘(B) such business would be an enterprise 
zone business (as defined in section 1397C) de-
termined— 
‘‘(i) by substituting ‘80 percent’ for 
‘50 percent’ in subsections (b)(2) and 
(c)(1) of section 1397C, 
‘‘(ii) by substituting ‘15 percent’ for 
‘35 percent’ in subsections (b)(6) and 
(c)(5) of section 1397C, and 
‘‘(iii) by treating no area other than 
the Clean Energy Business Zone as an em-
powerment zone or enterprise community. 
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‘‘(4) 
OTHER
DEFINITIONS
AND
SPECIAL 
RULES.— 
‘‘(A) QUALIFIED
CAPITAL
GAIN.—Except 
as otherwise provided in this paragraph, the 
term ‘qualified capital gain’ means any gain 
recognized on the sale or exchange of— 
‘‘(i) a capital asset, or 
‘‘(ii) property used in the trade or 
business (as defined in section 1231(b)). 
‘‘(B) GAIN BEFORE ENACTMENT OR AFTER 
2014 NOT QUALIFIED.—The term ‘qualified cap-
ital gain’ shall not include any gain attributable 
to periods before the date of the enactment of 
this section or after December 31, 2014. 
‘‘(C) CERTAIN GAIN NOT QUALIFIED.—The 
term ‘qualified capital gain’ shall not include 
any gain which would be treated as ordinary in-
come under section 1245 or under section 1250 
if section 1250 applied to all depreciation rath-
er than the additional depreciation. 
‘‘(D) INTANGIBLES AND LAND NOT INTE-
GRAL PART OF CLEAN ENERGY BUSINESS ZONE 
BUSINESS.—The term ‘qualified capital gain’ 
shall not include any gain which is attributable 
to real property, or an intangible asset, which 
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is not an integral part of a Clean Energy Busi-
ness Zone business. 
‘‘(E) RELATED
PARTY
TRANSACTIONS.— 
The term ‘qualified capital gain’ shall not in-
clude any gain attributable, directly or indi-
rectly, in whole or in part, to a transaction with 
a related person. For purposes of this para-
graph, persons are related to each other if such 
persons are described in section 267(b) or 
707(b)(1). 
‘‘(5) CERTAIN RULES TO APPLY.—Rules similar 
to the rules of subsections (g), (h), (i)(2), and (j) of 
section 1202 shall apply for purposes of this sub-
section. 
‘‘(6) SALES AND EXCHANGES OF INTERESTS IN 
PARTNERSHIPS AND S CORPORATIONS WHICH ARE 
CLEAN
ENERGY
BUSINESS
ZONE
BUSINESSES.—In 
the case of the sale or exchange of an interest in a 
partnership, or of stock in an S corporation, which 
was a Clean Energy Business Zone business during 
substantially all of the period the taxpayer held such 
interest or stock, the amount of qualified capital 
gain shall be determined without regard to— 
‘‘(A) any gain which is attributable to real 
property, or an intangible asset, which is not an 
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