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136 STAT. 1992 PUBLIC LAW 117–169—AUG. 16, 2022 ‘‘(I) in connection with a qualified facility which has a maximum net output of not greater than 5 megawatts (as measured in alternating cur- rent), and ‘‘(II) placed in service during the taxable year of the taxpayer, and ‘‘(ii) properly chargeable to capital account of the taxpayer. ‘‘(2) QUALIFIED PROPERTY.—For purposes of this section, the term ‘qualified property’ means property— ‘‘(A) which is— ‘‘(i) tangible personal property, or ‘‘(ii) other tangible property (not including a building or its structural components), but only if such property is used as an integral part of the qualified facility, ‘‘(B) with respect to which depreciation (or amortization in lieu of depreciation) is allowable, and ‘‘(C)(i) the construction, reconstruction, or erection of which is completed by the taxpayer, or ‘‘(ii) which is acquired by the taxpayer if the original use of such property commences with the taxpayer. ‘‘(3) QUALIFIED FACILITY.— ‘‘(A) IN GENERAL.—For purposes of this section, the term ‘qualified facility’ means a facility— ‘‘(i) which is used for the generation of electricity, ‘‘(ii) which is placed in service after December 31, 2024, and ‘‘(iii) for which the anticipated greenhouse gas emissions rate (as determined under subparagraph (B)(ii)) is not greater than zero. ‘‘(B) ADDITIONAL RULES.— ‘‘(i) EXPANSION OF FACILITY; INCREMENTAL PRODUC- TION.—Rules similar to the rules of section 45Y(b)(1)(C) shall apply for purposes of this paragraph. ‘‘(ii) GREENHOUSE GAS EMISSIONS RATE.—Rules similar to the rules of section 45Y(b)(2) shall apply for purposes of this paragraph. ‘‘(C) EXCLUSION.—The term ‘qualified facility’ shall not include any facility for which— ‘‘(i) a renewable electricity production credit deter- mined under section 45, ‘‘(ii) an advanced nuclear power facility production credit determined under section 45J, ‘‘(iii) a carbon oxide sequestration credit deter- mined under section 45Q, ‘‘(iv) a zero-emission nuclear power production credit determined under section 45U, ‘‘(v) a clean electricity production credit determined under section 45Y, ‘‘(vi) an energy credit determined under section 48, or ‘‘(vii) a qualifying advanced coal project credit under section 48A, is allowed under section 38 for the taxable year or any prior taxable year. Applicability. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00176 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw