Page:United States Statutes at Large Volume 120.djvu/2978

 PUBLIC LAW 109–432—DEC. 20, 2006

120 STAT. 2947

‘‘(B) TAX-EXEMPT BOND-FINANCED PROPERTY.—Such term shall not include any property any portion of which is financed with the proceeds of any obligation the interest on which is exempt from tax under section 103. ‘‘(C) ELECTION OUT.—If a taxpayer makes an election under this subparagraph 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. ‘‘(5) SPECIAL RULES.—For purposes of this subsection, rules similar to the rules of subparagraph (E) of section 168(k)(2) shall apply, except that such subparagraph shall be applied— ‘‘(A) by substituting ‘the date of the enactment of subsection (l)’ for ‘September 10, 2001’ each place it appears therein, ‘‘(B) by substituting ‘January 1, 2013’ for ‘January 1, 2005’ in clause (i) thereof, and ‘‘(C) by substituting ‘qualified cellulosic biomass ethanol plant property’ for ‘qualified property’ in clause (iv) thereof. ‘‘(6) ALLOWANCE AGAINST ALTERNATIVE MINIMUM TAX.—For purposes of this subsection, rules similar to the rules of section 168(k)(2)(G) shall apply. ‘‘(7) RECAPTURE.—For purposes of this subsection, rules similar to the rules under section 179(d)(10) shall apply with respect to any qualified cellulosic biomass ethanol plant property which ceases to be qualified cellulosic biomass ethanol plant property. ‘‘(8) DENIAL OF DOUBLE BENEFIT.—Paragraph (1) shall not apply to any qualified cellulosic biomass ethanol plant property with respect to which an election has been made under section 179C (relating to election to expense certain refineries).’’. (b) EFFECTIVE DATE.—The amendment made by this section shall apply to property placed in service after the date of the enactment of this Act in taxable years ending after such date.

Applicability.

Applicability.

26 USC 168 note.

SEC. 210. EXPENDITURES PERMITTED FROM THE LEAKING UNDERGROUND STORAGE TANK TRUST FUND.

(a) IN GENERAL.—Subsection (c) of section 9508 is amended— (1) by striking ‘‘section 9003(h)’’ and inserting ‘‘sections 9003(h), 9003(i), 9003(j), 9004(f), 9005(c), 9010, 9011, 9012, and 9013’’, and (2) by striking ‘‘Superfund Amendments and Reauthorization Act of 1986’’ and inserting ‘‘Public Law 109–168’’. (b) CONFORMING AMENDMENTS.—Section 9014(2) of the Solid Waste Disposal Act is amended by striking ‘‘Fund, notwithstanding section 9508(c)(1) of the Internal Revenue Code of 1986’’ and inserting ‘‘Fund’’. (c) EFFECTIVE DATE.—The amendments made by this section shall take effect on the date of the enactment of this Act.

26 USC 9508.

42 USC 6991m.

26 USC 9508 note.

SEC. 211. TREATMENT OF COKE AND COKE GAS.

(a) NONAPPLICATION OF PHASEOUT.—Section 45K(g)(2) is amended by adding at the end the following new subparagraph: ‘‘(D) NONAPPLICATION OF PHASEOUT.—Subsection (b)(1) shall not apply.’’.

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