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136 STAT. 2008 PUBLIC LAW 117–169—AUG. 16, 2022 ‘‘(iii) shall apply to such taxable year and to any subsequent taxable year which is within the period described in subsection (b)(1)(B) of section 45Y with respect to such facility. ‘‘(4) TIMING.—The payment described in subsection (a) shall be treated as made on— ‘‘(A) in the case of any government, or political subdivi- sion, described in paragraph (1) and for which no return is required under section 6011 or 6033(a), the later of the date that a return would be due under section 6033(a) if such government or subdivision were described in that section or the date on which such government or subdivi- sion submits a claim for credit or refund (at such time and in such manner as the Secretary shall provide), and ‘‘(B) in any other case, the later of the due date (deter- mined without regard to extensions) of the return of tax for the taxable year or the date on which such return is filed. ‘‘(5) ADDITIONAL INFORMATION.—As a condition of, and prior to, any amount being treated as a payment which is made by an applicable entity under subsection (a), the Secretary may require such information or registration as the Secretary deems necessary for purposes of preventing duplication, fraud, improper payments, or excessive payments under this section. ‘‘(6) EXCESSIVE PAYMENT.— ‘‘(A) IN GENERAL.—In the case of any amount treated as a payment which is made by the applicable entity under subsection (a), or the amount of the payment made pursu- ant to subsection (c), which the Secretary determines con- stitutes an excessive payment, the tax imposed on such entity by chapter 1 (regardless of whether such entity would otherwise be subject to tax under such chapter) for the taxable year in which such determination is made shall be increased by an amount equal to the sum of— ‘‘(i) the amount of such excessive payment, plus ‘‘(ii) an amount equal to 20 percent of such exces- sive payment. ‘‘(B) REASONABLE CAUSE.—Subparagraph (A)(ii) shall not apply if the applicable entity demonstrates to the satis- faction of the Secretary that the excessive payment resulted from reasonable cause. ‘‘(C) EXCESSIVE PAYMENT DEFINED.—For purposes of this paragraph, the term ‘excessive payment’ means, with respect to a facility or property for which an election is made under this section for any taxable year, an amount equal to the excess of— ‘‘(i) the amount treated as a payment which is made by the applicable entity under subsection (a), or the amount of the payment made pursuant to sub- section (c), with respect to such facility or property for such taxable year, over ‘‘(ii) the amount of the credit which, without application of this section, would be otherwise allow- able (as determined pursuant to paragraph (2) and without regard to section 38(c)) under this title with respect to such facility or property for such taxable year. Determination. Determination. Claims. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00192 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw