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136 STAT. 1913 PUBLIC LAW 117–169—AUG. 16, 2022 ‘‘(B) the denominator of which is the aggregate amount of additions to the capital account for the qualified facility for the taxable year and all prior taxable years. The amounts under the preceding sentence for any taxable year shall be determined as of the close of the taxable year.’’. (i) ROUNDING ADJUSTMENT.— (1) IN GENERAL.—Section 45(b)(2) is amended by striking the second sentence and inserting the following: ‘‘If the 0.3 cent amount as increased under the preceding sentence is not a multiple of 0.05 cent, such amount shall be rounded to the nearest multiple of 0.05 cent. In any other case, if an amount as increased under this paragraph is not a multiple of 0.1 cent, such amount shall be rounded to the nearest multiple of 0.1 cent.’’. (2) CONFORMING AMENDMENT.—Section 45(b)(4)(A) is amended by striking ‘‘last sentence’’ and inserting ‘‘last two sentences’’. (j) HYDROPOWER.— (1) ELIMINATION OF CREDIT RATE REDUCTION FOR QUALIFIED HYDROELECTRIC PRODUCTION AND MARINE AND HYDROKINETIC RENEWABLE ENERGY.—Section 45(b)(4)(A), as amended by the preceding provisions of this section, is amended by striking ‘‘(7), (9), or (11)’’ and inserting ‘‘or (7)’’. (2) MARINE AND HYDROKINETIC RENEWABLE ENERGY.—Sec- tion 45 is amended— (A) in subsection (c)(10)(A)— (i) in clause (iii), by striking ‘‘or’’, (ii) in clause (iv), by striking the period at the end and inserting ‘‘, or’’ and (iii) by adding at the end the following: ‘‘(v) pressurized water used in a pipeline (or similar man-made water conveyance) which is operated— ‘‘(I) for the distribution of water for agricul- tural, municipal, or industrial consumption, and ‘‘(II) not primarily for the generation of elec- tricity.’’, and (B) in subsection (d)(11)(A), by striking ‘‘150’’ and inserting ‘‘25’’. (k) EFFECTIVE DATES.— (1) IN GENERAL.—Except as provided in paragraphs (2) and (3), the amendments made by this section shall apply to facilities placed in service after December 31, 2021. (2) CREDIT REDUCED FOR TAX-EXEMPT BONDS.—The amend- ment made by subsection (h) shall apply to facilities the construction of which begins after the date of enactment of this Act. (3) DOMESTIC CONTENT, PHASEOUT, ENERGY COMMUNITIES, AND HYDROPOWER.—The amendments made by subsections (g) and (j) shall apply to facilities placed in service after December 31, 2022. SEC. 13102. EXTENSION AND MODIFICATION OF ENERGY CREDIT. (a) EXTENSION OF CREDIT.—The following provisions of section 48 are each amended by striking ‘‘January 1, 2024’’ each place it appears and inserting ‘‘January 1, 2025’’: (1) Subsection (a)(2)(A)(i)(II). (2) Subsection (a)(3)(A)(ii). Applicability. 26 USC 45 note. 26 USC 45. Determination. VerDate Sep 11 2014 13:57 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00097 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw