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136 STAT. 1990 PUBLIC LAW 117–169—AUG. 16, 2022 (b) CONFORMING AMENDMENTS.— (1) Section 38(b), as amended by the preceding provisions of this Act, is amended— (A) in paragraph (37), by striking ‘‘plus’’ at the end, (B) in paragraph (38), by striking the period at the end and inserting ‘‘, plus’’, and (C) by adding at the end the following new paragraph: ‘‘(39) the clean electricity production credit determined under section 45Y(a).’’. (2) The table of sections for subpart D of part IV of sub- chapter A of chapter 1, as amended by the preceding provisions of this Act, is amended by adding at the end the following new item: ‘‘Sec. 45Y. Clean electricity production credit.’’. (c) EFFECTIVE DATE.—The amendments made by this section shall apply to facilities placed in service after December 31, 2024. SEC. 13702. CLEAN ELECTRICITY INVESTMENT CREDIT. (a) IN GENERAL.—Subpart E of part IV of subchapter A of chapter 1, as amended by section 107(a) of the CHIPS Act of 2022, is amended by inserting after section 48D the following new section: ‘‘SEC. 48E. CLEAN ELECTRICITY INVESTMENT CREDIT. ‘‘(a) INVESTMENT CREDIT FOR QUALIFIED PROPERTY.— ‘‘(1) IN GENERAL.—For purposes of section 46, the clean electricity investment credit for any taxable year is an amount equal to the applicable percentage of the qualified investment for such taxable year with respect to— ‘‘(A) any qualified facility, and ‘‘(B) any energy storage technology. ‘‘(2) APPLICABLE PERCENTAGE.— ‘‘(A) QUALIFIED FACILITIES.—Subject to paragraph (3)— ‘‘(i) BASE RATE.—In the case of any qualified facility which is not described in subclause (I) or (II) of clause (ii) and does not satisfy the requirements described in subclause (III) of such clause, the applicable percentage shall be 6 percent. ‘‘(ii) ALTERNATIVE RATE.—In the case of any quali- fied 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 require- ments of paragraphs (3) and (4) of subsection (d), or ‘‘(III) which— ‘‘(aa) satisfies the requirements of sub- section (d)(3), and ‘‘(bb) with respect to the construction of such facility, satisfies the requirements of sub- section (d)(4), the applicable percentage shall be 30 percent. ‘‘(B) ENERGY STORAGE TECHNOLOGY.—Subject to para- graph (3)— Time period. Publication. Guidelines. 26 USC 48E. 26 USC 45Y note. 26 USC 38 prec. 26 USC 38. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00174 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw