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136 STAT. 1969 PUBLIC LAW 117–169—AUG. 16, 2022 (2) EXTENSION.—The amendments made by subsection (a) shall apply to property placed in service after December 31, 2021. PART 5—INVESTMENT IN CLEAN ENERGY MANUFACTURING AND ENERGY SECURITY SEC. 13501. EXTENSION OF THE ADVANCED ENERGY PROJECT CREDIT. (a) EXTENSION OF CREDIT.—Section 48C is amended by redesig- nating subsection (e) as subsection (f) and by inserting after sub- section (d) the following new subsection: ‘‘(e) ADDITIONAL ALLOCATIONS.— ‘‘(1) IN GENERAL.—Not later than 180 days after the date of enactment of this subsection, the Secretary shall establish a program to consider and award certifications for qualified investments eligible for credits under this section to qualifying advanced energy project sponsors. ‘‘(2) LIMITATION.—The total amount of credits which may be allocated under the program established under paragraph (1) shall not exceed $10,000,000,000, of which not greater than $6,000,000,000 may be allocated to qualified investments which are not located within a census tract which— ‘‘(A) is described in clause (iii) of section 45(b)(11)(B), and ‘‘(B) prior to the date of enactment of this subsection, had no project which received a certification and allocation of credits under subsection (d). ‘‘(3) CERTIFICATIONS.— ‘‘(A) APPLICATION REQUIREMENT.—Each applicant for certification under this subsection shall submit an applica- tion at such time and containing such information as the Secretary may require. ‘‘(B) TIME TO MEET CRITERIA FOR CERTIFICATION.—Each applicant for certification shall have 2 years from the date of acceptance by the Secretary of the application during which to provide to the Secretary evidence that the require- ments of the certification have been met. ‘‘(C) PERIOD OF ISSUANCE.—An applicant which receives a certification shall have 2 years from the date of issuance of the certification in order to place the project in service and to notify the Secretary that such project has been so placed in service, and if such project is not placed in service by that time period, then the certification shall no longer be valid. If any certification is revoked under this subparagraph, the amount of the limitation under paragraph (2) shall be increased by the amount of the credit with respect to such revoked certification. ‘‘(D) LOCATION OF PROJECT.—In the case of an applicant which receives a certification, if the Secretary determines that the project has been placed in service at a location which is materially different than the location specified in the application for such project, the certification shall no longer be valid. ‘‘(4) CREDIT RATE CONDITIONED UPON WAGE AND APPRENTICESHIP REQUIREMENTS.— ‘‘(A) BASE RATE.—For purposes of allocations under this subsection, the amount of the credit determined under Determination. Determination. Notification. Time period. Deadline. 26 USC 48C. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00153 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw