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 12 2 STA T .384 8 PUBLIC LA W 11 0– 343 —O CT. 3 , 2008 ‘ ‘ (10)WATERCONSUMP T I ON F ACTOR .—Thet e rm ‘ wa ter consu m p t i on f actor ’ means , with respect to a c l othes washer, the q uotient of the total wei g hte d per - c y cle water consumption di v ided b y the cubic foot (or liter) capacity of the clothes washer.’’. (f) E FFECTI V E D ATE.—The amendments made by this section shall apply to appliances produced after December 3 1, 2 00 7 . SEC.306 . A CCE L E R A T E D REC OV ER YP ER I OD F OR DEPRECIATIO N OF S M ART METERS AND SMART G RID SYSTEMS. (a) I N G ENERA L .— S ection 1 68 (e)(3)(D) is amended by stri k ing ‘‘and’’ at the end of clause (i), by striking the period at the end of clause (ii) and inserting a comma, and by inserting after clause (ii) the following new clauses

‘‘(iii) any qualified smart electric meter, and ‘‘(iv) any qualified smart electric grid system.’’. (b) DEFINITIONS.—Section 168(i) is amended by inserting at the end the following new paragraph: ‘‘(18) Q UALIFIE D SMART ELECTRIC METERS.— ‘‘( A )IN G ENERAL.—The term ‘qualified smart electric meter’ means any smart electric meter which— ‘‘(i) is placed in service by a ta x payer who is a supplier of electric energy or a provider of electric energy services, and ‘‘(ii) does not have a class life (determined without regard to subsection (e)) of less than 10 years. ‘‘( B ) SMART ELECTRIC METER.— F or purposes of subpara- graph (A), the term ‘smart electric meter’ means any time- based meter and related communication equipment which is capable of being used by the taxpayer as part of a system that— ‘‘(i) measures and records electricity usage data on a time-differentiated basis in at least 2 4 separate time segments per day, ‘‘(ii) provides for the exchange of information between supplier or provider and the customer’s elec- tric meter in support of time-based rates or other forms of demand response, ‘‘(iii) provides data to such supplier or provider so that the supplier or provider can provide energy usage information to customers electronically, and ‘‘(iv) provides net metering. ‘‘(1 9 ) QUALIFIED SMART ELECTRIC GRID S Y STEMS.— ‘‘(A) IN GENERAL.—The term ‘qualified smart electric grid system’ means any smart grid property which— ‘‘(i) is used as part of a system for electric distribu- tion grid communications, monitoring, and manage- ment placed in service by a taxpayer who is a supplier of electric energy or a provider of electric energy serv- ices, and ‘‘(ii) does not have a class life (determined without regard to subsection (e)) of less than 10 years. ‘‘(B) SMART GRID PROPERTY.—For the purposes of subparagraph (A), the term ‘smart grid property’ means electronics and related equipment that is capable of— ‘‘(i) sensing, collecting, and monitoring data of or from all portions of a utility’s electric distribution grid, Ap p licab ili ty.26USC45Mno t e .

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