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136 STAT. 1993 PUBLIC LAW 117–169—AUG. 16, 2022 ‘‘(4) QUALIFIED INTERCONNECTION PROPERTY.—For purposes of this paragraph, the term ‘qualified interconnection property’ has the meaning given such term in section 48(a)(8)(B). ‘‘(5) COORDINATION WITH REHABILITATION CREDIT.—The qualified investment with respect to any qualified facility for any taxable year shall not include that portion of the basis of any property which is attributable to qualified rehabilitation expenditures (as defined in section 47(c)(2)). ‘‘(6) DEFINITIONS.—For purposes of this subsection, the terms ‘CO2e per KWh’ and ‘greenhouse gas emissions rate’ have the same meaning given such terms under section 45Y. ‘‘(c) QUALIFIED INVESTMENT WITH RESPECT TO ENERGY STORAGE TECHNOLOGY.— ‘‘(1) QUALIFIED INVESTMENT.—For purposes of subsection (a), the qualified investment with respect to energy storage technology for any taxable year is the basis of any energy storage technology placed in service by the taxpayer during such taxable year. ‘‘(2) ENERGY STORAGE TECHNOLOGY.—For purposes of this section, the term ‘energy storage technology’ has the meaning given such term in section 48(c)(6) (except that subparagraph (D) of such section shall not apply). ‘‘(d) SPECIAL RULES.— ‘‘(1) CERTAIN PROGRESS EXPENDITURE RULES MADE APPLICABLE.—Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of subsection (a). ‘‘(2) SPECIAL RULE FOR PROPERTY FINANCED BY SUBSIDIZED ENERGY FINANCING OR PRIVATE ACTIVITY BONDS.—Rules similar to the rules of section 45(b)(3) shall apply. ‘‘(3) PREVAILING WAGE REQUIREMENTS.—Rules similar to the rules of section 48(a)(10) shall apply. ‘‘(4) APPRENTICESHIP REQUIREMENTS.—Rules similar to the rules of section 45(b)(8) shall apply. ‘‘(5) DOMESTIC CONTENT REQUIREMENT FOR ELECTIVE PAY- MENT.—In the case of a taxpayer making an election under section 6417 with respect to a credit under this section, rules similar to the rules of section 45Y(g)(12) shall apply. ‘‘(e) CREDIT PHASE-OUT.— ‘‘(1) IN GENERAL.—The amount of the clean electricity investment credit under subsection (a) for any qualified invest- ment with respect to any qualified facility or energy storage technology the construction of which begins during a calendar year described in paragraph (2) shall be equal to the product of— ‘‘(A) the amount of the credit determined under sub- section (a) without regard to this subsection, multiplied by ‘‘(B) the phase-out percentage under paragraph (2). ‘‘(2) PHASE-OUT PERCENTAGE.—The phase-out percentage under this paragraph is equal to— ‘‘(A) for any qualified investment with respect to any qualified facility or energy storage technology the construc- tion of which begins during the first calendar year following the applicable year, 100 percent, Applicability. Definition. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00177 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw