Page:United States Statutes at Large Volume 119.djvu/1005

 PUBLIC LAW 109–58—AUG. 8, 2005

119 STAT. 987

(2) by striking ‘‘January 1, 2006’’ in paragraph (4) and inserting ‘‘January 1, 2008 (January 1, 2006, in the case of a facility using solar energy)’’. (b) INCREASE IN CREDIT PERIOD.—Section 45(b)(4)(B) (relating to credit period) is amended— (1) by inserting ‘‘or clause (iii)’’ after ‘‘clause (ii)’’ in clause (i), and (2) by adding at the end the following: ‘‘(iii) TERMINATION.—Clause (i) shall not apply to any facility placed in service after the date of the enactment of this clause.’’. (c) EXPANSION OF QUALIFIED RESOURCES TO CERTAIN HYDROPOWER.— (1) IN GENERAL.—Section 45(c)(1) (defining qualified energy resources) is amended by striking ‘‘and’’ at the end of subparagraph (F), by striking the period at the end of subparagraph (G) and inserting ‘‘, and’’, and by adding at the end the following new subparagraph: ‘‘(H) qualified hydropower production.’’. (2) CREDIT RATE.—Section 45(b)(4)(A) (relating to credit rate) is amended by striking ‘‘or (7)’’ and inserting ‘‘(7), or (9)’’. (3) DEFINITION OF RESOURCES.—Section 45(c) (relating to qualified energy resources and refined coal) is amended by adding at the end the following new paragraph: ‘‘(8) QUALIFIED HYDROPOWER PRODUCTION.— ‘‘(A) IN GENERAL.—The term ‘qualified hydropower production’ means— ‘‘(i) in the case of any hydroelectric dam which was placed in service on or before the date of the enactment of this paragraph, the incremental hydropower production for the taxable year, and ‘‘(ii) in the case of any nonhydroelectric dam described in subparagraph (C), the hydropower production from the facility for the taxable year. ‘‘(B) DETERMINATION OF INCREMENTAL HYDROPOWER PRODUCTION.— ‘‘(i) IN GENERAL.—For purposes of subparagraph (A), incremental hydropower production for any taxable year shall be equal to the percentage of average annual hydropower production at the facility attributable to the efficiency improvements or additions of capacity placed in service after the date of the enactment of this paragraph, determined by using the same water flow information used to determine an historic average annual hydropower production baseline for such facility. Such percentage and baseline shall be certified by the Federal Energy Regulatory Commission. ‘‘(ii) OPERATIONAL CHANGES DISREGARDED.—For purposes of clause (i), the determination of incremental hydropower production shall not be based on any operational changes at such facility not directly associated with the efficiency improvements or additions of capacity. ‘‘(C) NONHYDROELECTRIC DAM.—For purposes of subparagraph (A), a facility is described in this subparagraph if—

VerDate 14-DEC-2004

08:19 Oct 26, 2006

Jkt 039194

PO 00001

Frm 00985

Fmt 6580

Sfmt 6581

E:\PUBLAW\PUBL001.119

26 USC 45.

APPS06

PsN: PUBL001

�