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Source: U.S. Code supplied Markdown snapshot · 26 U.S.C. § 29
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Source file: Laws/federal/codes/united-states-code/title-26/section-29-renumbered-45k--939f8bc79e.md
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Source location: Laws/federal/codes/united-states-code/title-26/section-29-renumbered-45k--939f8bc79e.md#record-record-usc-3ce06b89bbb305e8877cb323
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Allowance of credit** For purposes of section 38, the nonconventional source production credit determined under this section for the taxable year is an amount equal to— (1) $3, multiplied by (2) the barrel-of-oil equivalent of qualified fuels— (A) sold by the taxpayer to an unrelated person during the taxable year, and (B) the production of which is attributable to the taxpayer. **(b) Limitations and adjustments** (1) **Phaseout of credit** — The amount of the credit allowable under subsection (a) shall be reduced by an amount which bears the same ratio to the amount of the credit (determined without regard to this paragraph) as— (A) the amount by which the reference price for the calendar year in which the sale occurs exceeds $23.50, bears to (B) $6. (2) **Credit and phaseout adjustment based on inflation** — The $3 amount in subsection (a) and the $23.50 and $6 amounts in paragraph (1) shall each be adjusted by multiplying such amount by the inflation adjustment factor for the calendar year in which the sale occurs. In the case of gas from a tight formation, the $3 amount in subsection (a) shall not be adjusted. (3) **Credit reduced for grants, tax-exempt bonds, and subsidized energy financing** (A) *In general* — The amount of the credit allowable under subsection (a) with respect to any project for any taxable year (determined after the application of paragraphs (1) and (2)) shall be reduced by the amount which is the product of the amount so determined for such year and a fraction— (i) the numerator of which is the sum, for the taxable year and all prior taxable years, of— (I) grants provided by the United States, a State, or a political subdivision of a State for use in connection with the project, (II) proceeds of any
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 45K
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Incentive payments** (1) For electric energy generated and sold by a qualified renewable energy facility during the incentive period, the Secretary shall make, subject to the availability of appropriations, incentive payments to the owner or operator of such facility. (2) The amount of such payment made to any such owner or operator shall be as determined under subsection (e). (3) Payments under this section may only be made upon receipt by the Secretary of an incentive payment application which establishes that the applicant is eligible to receive such payment. (4) (A) Subject to subparagraph (B), if there are insufficient appropriations to make full payments for electric production from all qualified renewable energy facilities for a fiscal year, the Secretary shall assign— (i) 60 percent of appropriated funds for the fiscal year to facilities that use solar, wind, marine energy (as defined in [section 17211 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section17211&num=0&edition=prelim)), geothermal, or closed-loop (dedicated energy crops) biomass technologies to generate electricity; and (ii) 40 percent of appropriated funds for the fiscal year to other projects. (B) After submitting to Congress an explanation of the reasons for the alteration, the Secretary may alter the percentage requirements of subparagraph (A). **(b) Qualified renewable energy facility** For purposes of this section, a qualified renewable energy facility is a facility which is owned by a not-for-profit electric cooperative, a public utility described in [section 115 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section115&num=0&edition=prelim), a State, Commonwealth, territory, or possession of
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 13331
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Federal law — U.S. Code and appendices · legal_authorities
Page 117 TITLE 26—INTERNAL REVENUE CODE [§ 30A 1 So in original. Probably should be followed by a period. A of chapter 1 by striking out item 30A ‘‘Puerto Rico economic activity credit’’, was executed to the table of sections for this subpart to reflect the probable intent of Congress. 2014—Pub. L. 113–295, div. A, title II, § 221(a)(2)(A), Dec. 19, 2014, 128 Stat. 4037, struck out item 30 ‘‘Certain plug-in electric vehicles’’. 2009—Pub. L. 111–5, div. B, title I, § 1142(b)(8), Feb. 17, 2009, 123 Stat. 331, substituted ‘‘Certain plug-in electric vehicles’’ for ‘‘Credit for qualified electric vehicles’’ in item 30. 2008—Pub. L. 110–343, div. B, title II, § 205(d)(4), Oct. 3, 2008, 122 Stat. 3839, added item 30D. 2005—Pub. L. 109–135, title IV, § 412(e), Dec. 21, 2005, 119 Stat. 2637, substituted ‘‘Alternative fuel vehicle refuel- ing property credit’’ for ‘‘Clean-fuel vehicle refueling property credit’’ in item 30C. Pub. L. 109–58, title XIII, §§ 1322(a)(3)(K), 1341(b)(5), 1342(b)(5), Aug. 8, 2005, 119 Stat. 1012, 1049, 1051, struck out item 29 ‘‘Credit for producing fuel from a non- conventional source’’ and added items 30B and 30C. 1997—Pub. L. 105–34, title XVI, § 1601(f)(1)(B), Aug. 5, 1997, 111 Stat. 1090, substituted ‘‘Puerto Rico’’ for ‘‘Puerto Rican’’ in item 30A. 1996—Pub. L. 104–188, title I, §§ 1205(a)(3)(A), 1601(b)(2)(E), (F)(i), Aug. 20, 1996, 110 Stat. 1775, 1833, substituted ‘‘Other Credits’’ for ‘‘Foreign Tax Credits, Etc.’’ in subpart heading, struck out item 28 ‘‘Clinical testing expenses for certain drugs for rare diseases or conditions’’, and added item 30A. 1992—Pub. L. 102–486, title XIX, § 1913(b)(2)(A), Oct. 24, 1992, 106 Stat. 3020, added item 30. 1986—Pub. L. 99–514, title II, § 231(d)(3)(J), Oct. 22, 1986,
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 29
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