Page:United States Statutes at Large Volume 119.djvu/2630

 119 STAT. 2612

(i) AMENDMENTS RELATED TO SECTION 1335.— (1) Paragraph (1) of section 25D(b) is amended by inserting ‘‘(determined without regard to subsection (c))’’ after ‘‘subsection (a)’’. (2) Subparagraphs (A) and (B) of section 25D(e)(4) are amended to read as follows: ‘‘(A) MAXIMUM EXPENDITURES.—The maximum amount of expenditures which may be taken into account under subsection (a) by all such individuals with respect to such dwelling unit during such calendar year shall be— ‘‘(i) $6,667 in the case of any qualified photovoltaic property expenditures, ‘‘(ii) $6,667 in the case of any qualified solar water heating property expenditures, and ‘‘(iii) $1,667 in the case of each half kilowatt of capacity of qualified fuel cell property (as defined in section 48(c)(1)) for which qualified fuel cell property expenditures are made. ‘‘(B) ALLOCATION OF EXPENDITURES.—The expenditures allocated to any individual for the taxable year in which such calendar year ends shall be an amount equal to the lesser of— ‘‘(i) the amount of expenditures made by such individual with respect to such dwelling during such calendar year, or ‘‘(ii) the maximum amount of such expenditures set forth in subparagraph (A) multiplied by a fraction— ‘‘(I) the numerator of which is the amount of such expenditures with respect to such dwelling made by such individual during such calendar year, and ‘‘(II) the denominator of which is the total expenditures made by all such individuals with respect to such dwelling during such calendar year.’’. (3)(A)(i) The matter preceding subparagraph (A) of section 23(b)(4) is amended by striking ‘‘The credit’’ and inserting ‘‘In the case of a taxable year to which section 26(a)(2) does not apply, the credit’’. (ii) Subsection (c) of section 23 is amended to read as follows: ‘‘(c) CARRYFORWARDS OF UNUSED CREDIT.— ‘‘(1) RULE FOR YEARS IN WHICH ALL PERSONAL CREDITS ALLOWED AGAINST REGULAR AND ALTERNATIVE MINIMUM TAX.— In the case of a taxable year to which section 26(a)(2) applies, if the credit allowable under subsection (a) for any taxable year exceeds the limitation imposed by section 26(a)(2) for such taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 25D and 1400C), such excess shall be carried to the succeeding taxable year and added to the credit allowable under subsection (a) for such taxable year. ‘‘(2) RULE FOR OTHER YEARS.—In the case of a taxable year to which section 26(a)(2) does not apply, if the credit allowable under subsection (a) for any taxable year exceeds the limitation imposed by subsection (b)(4) for such taxable year, such excess shall be carried to the succeeding taxable

26 USC 25D.

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PUBLIC LAW 109–135—DEC. 21, 2005

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