TITLE 26. INTERNAL REVENUE CODE § 48C. Qualifying advanced energy project credit., 26 USCS § 48C

Summary

(a) In general. For purposes of section 46 [26 USCS § 46], the qualifying advanced energy project credit for any taxable year is an amount equal to 30 percent of the qualified investment for such taxable year with respect to any qualifying advanced energy project of the taxpayer.

(b) Qualified investment.

(1) In general. For purposes of subsection (a), the qualified investment for any taxable year is the basis of eligible property placed in service by the taxpayer during such taxable year which is part of a qualifying advanced energy project.

(2) Certain qualified progress expenditures rules made applicable. Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the enactment of the Revenue Reconciliation Act of 1990 [enacted Nov. 5, 1990]) shall apply for purposes of this section.

(3) Limitation. The amount which is treated as the qualified investment for all taxable years with respect to any qualifying advanced energy project shall not exceed ...