Page 101

136 STAT. 1917 PUBLIC LAW 117–169—AUG. 16, 2022 credit is allowed under section 48 with respect to such property for the taxable year or any prior taxable year.’’. (5) PUBLIC UTILITY PROPERTY.—Paragraph (2) of section 50(d) is amended— (A) by adding after the first sentence the following new sentence: ‘‘At the election of a taxpayer, this paragraph shall not apply to any energy storage technology (as defined in section 48(c)(6)), provided—’’, and (B) by adding the following new subparagraphs: ‘‘(A) no election under this paragraph shall be per- mitted if the making of such election is prohibited by a State or political subdivision thereof, by any agency or instrumentality of the United States, or by a public service or public utility commission or other similar body of any State or political subdivision that regulates public utilities as described in section 7701(a)(33)(A), ‘‘(B) an election under this paragraph shall be made separately with respect to each energy storage technology by the due date (including extensions) of the Federal tax return for the taxable year in which the energy storage technology is placed in service by the taxpayer, and once made, may be revoked only with the consent of the Sec- retary, and ‘‘(C) an election shall not apply with respect to any energy storage technology if such energy storage technology has a maximum capacity equal to or less than 500 kilowatt hours.’’. (g) FUEL CELLS USING ELECTROMECHANICAL PROCESSES.— (1) IN GENERAL.—Section 48(c)(1) is amended— (A) in subparagraph (A)(i)— (i) by inserting ‘‘or electromechanical’’ after ‘‘electrochemical’’, and (ii) by inserting ‘‘(1 kilowatt in the case of a fuel cell power plant with a linear generator assembly)’’ after ‘‘0.5 kilowatt’’, and (B) in subparagraph (C)— (i) by inserting ‘‘, or linear generator assembly,’’ after ‘‘a fuel cell stack assembly’’, and (ii) by inserting ‘‘or electromechanical’’ after ‘‘electrochemical’’. (2) LINEAR GENERATOR ASSEMBLY LIMITATION.—Section 48(c)(1) is amended by redesignating subparagraph (D) as subparagraph (E) and by inserting after subparagraph (C) the following new subparagraph: ‘‘(D) LINEAR GENERATOR ASSEMBLY.—The term ‘linear generator assembly’ does not include any assembly which contains rotating parts.’’. (h) DYNAMIC GLASS.—Section 48(a)(3)(A)(ii) is amended by inserting ‘‘, or electrochromic glass which uses electricity to change its light transmittance properties in order to heat or cool a struc- ture,’’ after ‘‘sunlight’’. (i) COORDINATION WITH LOW INCOME HOUSING TAX CREDIT.— Paragraph (3) of section 50(c) is amended— (1) by striking ‘‘and’’ at the end of subparagraph (A), (2) by striking the period at the end of subparagraph (B) and inserting ‘‘, and’’, and (3) by adding at the end the following new subparagraph: 26 USC 50. VerDate Sep 11 2014 13:57 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00101 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw