Page:United States Statutes at Large Volume 119.djvu/1030

 119 STAT. 1012

PUBLIC LAW 109–58—AUG. 8, 2005 (ii) in subsection (d)(3) by striking ‘‘section 29’’ both places it appears and inserting ‘‘section 45K’’. (E) Section 45K(a), as redesignated by paragraph (1), is amended by striking ‘‘There shall be allowed as a credit against the tax imposed by this chapter for the taxable year’’ and inserting ‘‘For purposes of section 38, if the taxpayer elects to have this section apply, the nonconventional source production credit determined under this section for the taxable year is’’. (F) Section 45K(b), as so redesignated, is amended by striking paragraph (6). (G) Section 53(d)(1)(B)(iii) is amended by striking ‘‘under section 29’’ and all that follows through ‘‘or not allowed’’. (H) Section 55(c)(3) is amended by striking ‘‘29(b)(6),’’. (I) Subsection (a) of section 772 is amended by inserting ‘‘and’’ at the end of paragraph (9), by striking paragraph (10), and by redesignating paragraph (11) as paragraph (10). (J) Paragraph (5) of section 772(d) is amended by striking ‘‘the foreign tax credit, and the credit allowable under section 29’’ and inserting ‘‘and the foreign tax credit’’. (K) The table of sections for subpart B of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 29. (L) The table of sections for subpart D of part IV of subchapter A of chapter 1 is amended by inserting after the item relating to section 45I the following new item:

‘‘Sec. 45K. Credit for producing fuel from a nonconventional source.’’.

26 USC 29 note.

VerDate 14-DEC-2004

08:19 Oct 26, 2006

(b) AMENDMENTS CONFORMING TO THE REPEAL OF THE NATURAL GAS POLICY ACT OF 1978.— (1) IN GENERAL.—Section 29(c)(2)(A) (before redesignation under subsection (a) and as amended by section 1321) is amended— (A) by inserting ‘‘(as in effect before the repeal of such section)’’ after ‘‘1978’’, and (B) by striking subsection (e) and redesignating subsections (f), (g), and (h) as subsections (e), (f), and (g), respectively. (2) CONFORMING AMENDMENTS.—Section 29(g)(1) (before redesignation under subsection (a) and paragraph (1) of this subsection) is amended— (A) in subparagraph (A) by striking ‘‘subsection (f)(1)(B)’’ and inserting ‘‘subsection (e)(1)(B)’’, and (B) in subparagraph (B) by striking ‘‘subsection (f)’’ and inserting ‘‘subsection (e)’’. (c) EFFECTIVE DATES.— (1) IN GENERAL.—Except as provided in paragraph (2), the amendments made by this section shall apply to credits determined under the Internal Revenue Code of 1986 for taxable years ending after December 31, 2005. (2) SUBSECTION (b).—The amendments made by subsection (b) shall take effect on the date of the enactment of this Act.

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