Page:United States Statutes at Large Volume 123.djvu/366

 123STA T . 3 46PUBLIC LA W 111 –5—FE B.1 7, 2 0 0 9‘ ‘ (V)pro p e r tyd e sign edtore f ine or bl end rene wa ble f u els or to produ c e energy conser v ation tec h nologies (including energy - conserving lighting technologies and s m art grid technologies) , ‘‘(V I ) new q ualified plug-in electric drive motor vehicles (as defined by section 30D ), qualified plug- in electric vehicles (as defined by section 30(d)), or components which are designed specifically for use with such vehicles, including electric motors, generators, and power control units, or ‘‘(VII) other advanced energy property designed to reduce greenhouse gas emissions as may be determined by the S ecretary, and ‘‘(ii) any portion of the qualified investment of which is certified by the Secretary under subsection (d) as eligible for a credit under this section . ‘‘( B ) EXCEPTION . — Such term shall not include any por- tion of a pro j ect for the production of any property which is used in the refining or blending of any transportation fuel (other than renewable fuels). ‘‘( 2 )E L I G I B LEP R OPERT Y .— T he term ‘eligible property ’ means any property— ‘‘( A ) which is necessary for the production of property described in paragraph ( 1 )(A)(i), ‘‘(B) which is— ‘‘(i) tangible personal property, or ‘‘(ii) other tangible property (not including a building or its structural components), but only if such property is used as an integral part of the qualified investment credit facility, and ‘‘( C ) with respect to which depreciation (or amorti z ation in lieu of depreciation) is allowable. ‘‘(d) QUA LI F YING A DV ANCED ENERGY P RO J ECT PROGRA M .— ‘‘(1) E S TABLIS H MENT.— ‘‘(A) IN GENERAL.— N ot later than 1 8 0 days after the date of enactment of this section, the Secretary, in consulta- tion with the Secretary of Energy, shall establish a quali- fying advanced energy project program to consider and award certifications for qualified investments eligible for credits under this section to qualifying advanced energy project sponsors. ‘‘(B) L IMITATION.—The total amount of credits that may be allocated under the program shall not e x ceed $ 2,300,000,000. ‘‘(2) CERTIFICATION.— ‘‘(A) APPLICATION PERIOD.—Each applicant for certifi- cation under this paragraph shall submit an application containing such information as the Secretary may require during the 2-year period beginning on the date the Sec- retary establishes the program under paragraph (1). ‘‘(B) TIME TO MEET CRITERIA FOR CERTIFICATION.—Each applicant for certification shall have 1 year from the date of acceptance by the Secretary of the application during which to provide to the Secretary evidence that the require- ments of the certification have been met. ‘‘(C) PERIOD OF ISSUANCE.—An applicant which receives a certification shall have 3 years from the date of issuance Deadlin e . Deadline. Deadline.