Page:United States Statutes at Large Volume 94 Part 1.djvu/333

 PUBLIC LAW 96-223—APR. 2, 1980

94 STAT. 283

(A) substantially all of the solid waste derived feedstock for such facility is produced at a facility which— (i) went into full production in 1977, (ii) is located within the limits of a city, and (iii) is located in the same metropolitan area as the alcohol-producing facility, and (B) before March 1, 1980, there were negotiations between a governmental body and an organization described in section 501(c)(3) of the Internal Revenue Code of 1954 with 26 USC 50i. respect to the utilization of a special process for the production of alcohol at such alcohol-producing facility. (2) LIMITATION.—The aggregate amount of obligations which may be issued by reason of p a r ^ a p h (1) with respect to any project shall not exceed $30,000,000. (3) TERMINATION.—This subsection shall not apply to obligations issued after December 31, 1985. (d) EFFECTIVE DATE.—The amendments made by subsection (a) and 26 USC 103 note. the provisions of subsections (b) and (c) shall apply with respect to obligations issued after October 18, 1979. SEC. 242. QUALIFIED HYDROELECTRIC GENERATING FACILITIES. (a) QuAUFiED HYDROELECTRIC GENERATING FACILITIES.— (1) IN GENERAL.—Paragraph (4) of section 103(b) (relating to 26 USC 103. certain exempt activities) is amended— (A) by striking out "or" at the end of subparagraph (F), (B) by striking out the period at the end of subparagraph (G) and inserting in lieu thereof ", or", and (C) by inserting after subparagraph (G) the following new subparagraph: "(H) qualified hydroelectric generating facilities." (2) DEFINITIONS.—Subsection (b) of section 103 is amended by redesignating paragraph (8) as paragraph (9) and by inserting after paragraph (7) the following new paragraph: "(8) QUALIFIED HYDROELECTRIC GENERATING FACILITIES.—For

purposes of this section—

"(A) QUALIFIED HYDROELECTRIC GENERATING FACILITY.—

The term 'qualified hydroelectric generating facility' means any qualified hydroelectric generating property which is owned by a State, political subdivision thereof, or agency or instrumentality of any of the foregoing. "(B) QUALIFIED HYDROELECTRIC GENERATING PROPERTY.—

"(i) IN GENERAL.—Except as provided in clause (ii), the term 'qualified hydroelectric generating property' has the meaning given to such term by section 48(1)(13). Ante, p. 262. "(ii) DAM MUST BE OWNED BY GOVERNMENTAL BODY.—

The term 'qualified hydroelectric generating property' does not include any property installed at the site of any dam described in section 48(l)(13)(B)(i)(I) unless such dam was owned by one or more governmental bodies described in subparagraph (A) on October 18, 1979, and at all times thereafter until the obligations are no longer outstanding. "(C) LIMITATION.—Paragraph (4)(H) of this subsection shall not apply to any issue of obligations (otherwise qualifying under paragraph (4)(H)) if the portion of the proceeds of such issue which is used to provide qualified hydroelectric generating facilities exceeds (by more than an insubstantial amount) the product of—

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