Page 120

136 STAT. 1936 PUBLIC LAW 117–169—AUG. 16, 2022 ‘‘SEC. 45V. CREDIT FOR PRODUCTION OF CLEAN HYDROGEN. ‘‘(a) AMOUNT OF CREDIT.—For purposes of section 38, the clean hydrogen production credit for any taxable year is an amount equal to the product of— ‘‘(1) the kilograms of qualified clean hydrogen produced by the taxpayer during such taxable year at a qualified clean hydrogen production facility during the 10-year period begin- ning on the date such facility was originally placed in service, multiplied by ‘‘(2) the applicable amount (as determined under subsection (b)) with respect to such hydrogen. ‘‘(b) APPLICABLE AMOUNT.— ‘‘(1) IN GENERAL.—For purposes of subsection (a)(2), the applicable amount shall be an amount equal to the applicable percentage of $0.60. If any amount as determined under the preceding sentence is not a multiple of 0.1 cent, such amount shall be rounded to the nearest multiple of 0.1 cent. ‘‘(2) APPLICABLE PERCENTAGE.—For purposes of paragraph (1), the applicable percentage shall be determined as follows: ‘‘(A) In the case of any qualified clean hydrogen which is produced through a process that results in a lifecycle greenhouse gas emissions rate of— ‘‘(i) not greater than 4 kilograms of CO2e per kilo- gram of hydrogen, and ‘‘(ii) not less than 2.5 kilograms of CO2e per kilo- gram of hydrogen, the applicable percentage shall be 20 percent. ‘‘(B) In the case of any qualified clean hydrogen which is produced through a process that results in a lifecycle greenhouse gas emissions rate of— ‘‘(i) less than 2.5 kilograms of CO2e per kilogram of hydrogen, and ‘‘(ii) not less than 1.5 kilograms of CO2e per kilo- gram of hydrogen, the applicable percentage shall be 25 percent. ‘‘(C) In the case of any qualified clean hydrogen which is produced through a process that results in a lifecycle greenhouse gas emissions rate of— ‘‘(i) less than 1.5 kilograms of CO2e per kilogram of hydrogen, and ‘‘(ii) not less than 0.45 kilograms of CO2e per kilogram of hydrogen, the applicable percentage shall be 33.4 percent. ‘‘(D) In the case of any qualified clean hydrogen which is produced through a process that results in a lifecycle greenhouse gas emissions rate of less than 0.45 kilograms of CO2e per kilogram of hydrogen, the applicable percent- age shall be 100 percent. ‘‘(3) INFLATION ADJUSTMENT.—The $0.60 amount in para- graph (1) shall be adjusted by multiplying such amount by the inflation adjustment factor (as determined under section 45(e)(2), determined by substituting ‘2022’ for ‘1992’ in subpara- graph (B) thereof) for the calendar year in which the qualified clean hydrogen is produced. If any amount as increased under the preceding sentence is not a multiple of 0.1 cent, such amount shall be rounded to the nearest multiple of 0.1 cent. ‘‘(c) DEFINITIONS.—For purposes of this section— Determination. Time period. 26 USC 45V. VerDate Sep 11 2014 13:57 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00120 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw