118 STAT. 1554 PUBLIC LAW 108–357—OCT. 22, 2004 (1) IN GENERAL.—Section 45 is amended by redesignating subsection (d) as subsection (e) and by inserting after subsection (c) the following new subsection: ‘‘(d) QUALIFIED FACILITIES.—For purposes of this section: ‘‘(1) WIND FACILITY.—In the case of a facility using wind to produce electricity, the term ‘qualified facility’ means any facility owned by the taxpayer which is originally placed in service after December 31, 1993, and before January 1, 2006. ‘‘(2) CLOSED LOOP BIOMASS FACILITY.— ‘‘(A) IN GENERAL.—In the case of a facility using closed loop biomass to produce electricity, the term ‘qualified facility’ means any facility— ‘‘(i) owned by the taxpayer which is originally placed in service after December 31, 1992, and before January 1, 2006, or ‘‘(ii) owned by the taxpayer which before January 1, 2006, is originally placed in service and modified to use closed loop biomass to co fire with coal, with other biomass, or with both, but only if the modification is approved under the Biomass Power for Rural Development Programs or is part of a pilot project of the Commodity Credit Corporation as described in 65 Fed. Reg. 63052. ‘‘(B) SPECIAL RULES.—In the case of a qualified facility described in subparagraph (A)(ii)— ‘‘(i) the 10 year period referred to in subsection (a) shall be treated as beginning no earlier than the date of the enactment of this clause, ‘‘(ii) the amount of the credit determined under subsection (a) with respect to the facility shall be an amount equal to the amount determined without regard to this clause multiplied by the ratio of the thermal content of the closed loop biomass used in such facility to the thermal content of all fuels used in such facility, and ‘‘(iii) if the owner of such facility is not the producer of the electricity, the person eligible for the credit allowable under subsection (a) shall be the lessee or the operator of such facility. ‘‘(3) OPEN LOOP BIOMASS FACILITIES.— ‘‘(A) IN GENERAL.—In the case of a facility using open loop biomass to produce electricity, the term ‘qualified facility’ means any facility owned by the taxpayer which— ‘‘(i) in the case of a facility using agricultural live stock waste nutrients— ‘‘(I) is originally placed in service after the date of the enactment of this subclause and before January 1, 2006, and ‘‘(II) the nameplate capacity rating of which is not less than 150 kilowatts, and ‘‘(ii) in the case of any other facility, is originally placed in service before January 1, 2006. ‘‘(B) CREDIT ELIGIBILITY.—In the case of any facility described in subparagraph (A), if the owner of such facility is not the producer of the electricity, the person eligible for the credit allowable under subsection (a) shall be the lessee or the operator of such facility.
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