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136 STAT. 1982 PUBLIC LAW 117–169—AUG. 16, 2022 ‘‘(A) IN GENERAL.—In the case of a year beginning after 2023, the amount in paragraph (2)(A) shall be increased by an amount equal to— ‘‘(i) such amount, multiplied by ‘‘(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting ‘calendar year 2022’ for ‘calendar year 2016’ in subparagraph (A)(ii) thereof. ‘‘(B) ROUNDING.—If any amount as adjusted under subparagraph (A) is not a multiple of $0.01, such amount shall be rounded to the next lowest multiple of $0.01.’’. (b) AUTHORITY FOR ADVANCES.—Section 9507(d)(3)(B) is amended by striking ‘‘December 31, 1995’’ and inserting ‘‘December 31, 2032’’. (c) EFFECTIVE DATE.—The amendments made by this section shall take effect on January 1, 2023. PART 7—INCENTIVES FOR CLEAN ELECTRICITY AND CLEAN TRANSPORTATION SEC. 13701. CLEAN ELECTRICITY PRODUCTION CREDIT. (a) IN GENERAL.—Subpart D of part IV of subchapter A of chapter 1, as amended by the preceding provisions of this Act, is amended by adding at the end the following new section: ‘‘SEC. 45Y. CLEAN ELECTRICITY PRODUCTION CREDIT. ‘‘(a) AMOUNT OF CREDIT.— ‘‘(1) IN GENERAL.—For purposes of section 38, the clean electricity production credit for any taxable year is an amount equal to the product of— ‘‘(A) the kilowatt hours of electricity— ‘‘(i) produced by the taxpayer at a qualified facility, and ‘‘(ii)(I) sold by the taxpayer to an unrelated person during the taxable year, or ‘‘(II) in the case of a qualified facility which is equipped with a metering device which is owned and operated by an unrelated person, sold, consumed, or stored by the taxpayer during the taxable year, multi- plied by ‘‘(B) the applicable amount with respect to such quali- fied facility. ‘‘(2) APPLICABLE AMOUNT.— ‘‘(A) BASE AMOUNT.—Subject to subsection (g)(7), in the case of any qualified facility which is not described in clause (i) or (ii) of subparagraph (B) and does not satisfy the requirements described in clause (iii) of such subpara- graph, the applicable amount shall be 0.3 cents. ‘‘(B) ALTERNATIVE AMOUNT.—Subject to subsection (g)(7), in the case of any qualified facility— ‘‘(i) with a maximum net output of less than 1 megawatt (as measured in alternating current), ‘‘(ii) the construction of which begins prior to the date that is 60 days after the Secretary publishes guidance with respect to the requirements of para- graphs (9) and (10) of subsection (g), or ‘‘(iii) which— Time period. Publication. Guidelines. 26 USC 45Y. 26 USC 4611 note. 26 USC 9507. Effective date. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00166 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw