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Sec. 45. Electricity produced from certain renewable resources

6/13/03 10:19 PM

Sec. 45. Electricity produced from certain renewable resources

TITLE 26, Subtitle A, CHAPTER 1, Subchapter A, PART IV, Subpart D, Sec. 45

ST A TUTE (a)

General rule

For purposes of section 38, the renewable electricity production credit for any taxable year is an amount equal to the product of -

(1)

(2)

(A)

(i)

(ii)

(B)

(b)

(1)

(2)

Credit and phaseout adjustment based on inflation

1.5 cents, multiplied by

the kilowatt hours of electricity -

http://www.fourmilab.ch/ustax/www/t26-A-1-A-IV-D-45.html

Page 1 of 4

produced by the taxpayer -

from qualified energy resources, and

at a qualified facility during the 10-year period beginning on the date the facility was originally placed in service, and

sold by the taxpayer to an unrelated person during the taxable year. Limitations and adjustments

Phaseout of credit

The amount of the credit determined under subsection (a) shall be reduced by an amount which bears the same ratio to the amount of the credit (determined without regard to this paragraph) as -

(A)

(B)

the amount by which the reference price for the calendar year in which the sale

occurs exceeds 8 cents, bears to

3 cents.

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