Page:United States Statutes at Large Volume 122.djvu/3841

 12 2 STA T .38 18 PUBLIC LA W 11 0– 3 4 3 —O CT. 3 , 2008 ‘ ‘ (C)notm o re t ha n 3 3 1⁄3p er c ent thereo f ma yb ea l lo - cate d to qu al i fied pro j ect s of cooperati v e electric companies . ‘‘(3) METHOD O FAL LO C AT I O N . — ‘‘( A ) ALLOCATION A M ON GPUB LIC PO W E R PRO V IDER S .— After the S ecretary determines the qualified projects of public po w er providers which are appropriate for receivin g an allocation of the national new clean renewable energy bond limitation , the Secretary shall, to the ma x imum extent practicable, ma k e allocations among such projects in such manner that the amount allocated to each such project bears the same ratio to the cost of such project as the limitation under paragraph ( 2 )(A) bears to the cost of all such projects. ‘‘( B ) ALLOCATION AMONG GOVERNMENTAL BODIES AND COOPERATIVE ELECTRIC COMPANIES.— T he Secretary shall make allocations of the amount of the national new clean renewable energy bond limitation described in paragraphs (2)(B) and (2)(C) among qualified projects of governmental bodies and cooperative electric companies, respectively, in such manner as the Secretary determines appropriate. ‘‘(d) D EFINITIONS.— F or purposes of this section— ‘‘( 1 ) Q UALIFIED RENEWABLE ENERG Y FACILITY.—The term ‘qualified renewable energy facility ’ means a qualified facility (as determined under section 45 (d) without regard to para- graphs ( 8 )and(1 0 ) thereof and to any placed in service date) owned by a public power provider, a governmental body, or a cooperative electric company. ‘‘(2) P UBLIC POWER PROVIDER.—The term ‘public power pro- vider’ means a State utility with a service obligation, as such terms are defined in section 21 7 of the Federal Power Act (as in effect on the date of the enactment of this paragraph). ‘‘(3) G OVERNMENTAL BODY.—The term ‘governmental body’ means any State or I ndian tribal government, or any political subdivision thereof. ‘‘(4) COOPERATIVE ELECTRIC COMPANY.—The term ‘coopera- tive electric company’ means a mutual or cooperative electric company described in section 501(c)(12) or section 1381(a)(2)(C). ‘‘(5) CLEAN RENEWABLE ENERGY BOND LENDER.—The term ‘clean renewable energy bond lender’ means a lender which is a cooperative which is owned by, or has outstanding loans to, 100 or more cooperative electric companies and is in exist- ence on February 1, 2002, and shall include any affiliated entity which is controlled by such lender. ‘‘( 6 ) QUALIFIED ISSUER.—The term ‘qualified issuer’ means a public power provider, a cooperative electric company, a governmental body, a clean renewable energy bond lender, or a not-for-profit electric utility which has received a loan or loan guarantee under the R ural E lectrification Act.’’. (b) CONFORMING AMENDMENTS.— (1) Paragraph (1) of section 54A(d) is amended to read as follows

‘‘(1) QUALIFIED TA X CREDIT BOND.—The term ‘qualified tax credit bond’ means— ‘‘(A) a qualified forestry conservation bond, or ‘‘(B) a new clean renewable energy bond, which is part of an issue that meets requirements of paragraphs (2), (3), (4), (5), and (6).’’. Defin i t i o n .26USC54A .

�