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136 STAT. 1997 PUBLIC LAW 117–169—AUG. 16, 2022 (A) in paragraph (5), by striking ‘‘and’’ at the end, (B) in paragraph (6), by striking the period at the end and inserting ‘‘, and’’, and (C) by adding at the end the following: ‘‘(7) the clean electricity investment credit.’’. (2) Section 49(a)(1)(C), as amended by section 107(d) of the CHIPS Act of 2022, is amended— (A) by striking ‘‘and’’ at the end of clause (v), (B) by striking the period at the end of clause (vi) and inserting a comma, and (C) by adding at the end the following new clauses: ‘‘(vii) the basis of any qualified property which is part of a qualified facility under section 48E, and ‘‘(viii) the basis of any energy storage technology under section 48E.’’. (3) Section 50(a)(2)(E), as amended by section 107(d) of the CHIPS Act of 2022, is amended by striking ‘‘or 48D(b)(5)’’ and inserting ‘‘48D(b)(5), or 48E(e)’’. (4) Section 50(c)(3) is amended by inserting ‘‘or clean elec- tricity investment credit’’ after ‘‘In the case of any energy credit’’. (5) The table of sections for subpart E of part IV of sub- chapter A of chapter 1, as amended by section 107(d) of the CHIPS Act of 2022, is amended by inserting after the item relating to section 48D the following new item: ‘‘48E. Clean electricity investment credit.’’. (c) EFFECTIVE DATE.—The amendments made by this section shall apply to property placed in service after December 31, 2024. SEC. 13703. COST RECOVERY FOR QUALIFIED FACILITIES, QUALIFIED PROPERTY, AND ENERGY STORAGE TECHNOLOGY. (a) IN GENERAL.—Section 168(e)(3)(B) is amended— (1) in clause (vi)(III), by striking ‘‘and’’ at the end, (2) in clause (vii), by striking the period at the end and inserting ‘‘, and’’, and (3) by inserting after clause (vii) the following: ‘‘(viii) any qualified facility (as defined in section 45Y(b)(1)(A)), any qualified property (as defined in sub- section (b)(2) of section 48E) which is a qualified invest- ment (as defined in subsection (b)(1) of such section), or any energy storage technology (as defined in sub- section (c)(2) of such section).’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to facilities and property placed in service after December 31, 2024. SEC. 13704. CLEAN FUEL 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. 45Z. CLEAN FUEL PRODUCTION CREDIT. ‘‘(a) AMOUNT OF CREDIT.— ‘‘(1) IN GENERAL.—For purposes of section 38, the clean fuel production credit for any taxable year is an amount equal to the product of— 26 USC 45Z. 26 USC 168 note. 26 USC 168. 26 USC 48E note. 26 USC 46 prec. 26 USC 50. 26 USC 49. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00181 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw