12 2 STA T .38 13 PUBLIC LA W 11 0– 3 4 3 —O CT. 3 , 2008 ‘ ‘ (i)subpar a g rap h ( A )(iii) sha l l not appl y, but ‘‘(ii) th e a m ount o fc re d it determined under sub - section (a) w ith respect to such system shall not e x ceed the amount which bears the same ratio to such amount of credit (determined without regard to this subpara- graph) as the energy efficiency percentage of such system bears to 60 percent .’ ’. ( 3 ) CONF O RMI N GA M E N D MEN T . —S ection 48 (a)( 1 ) is amended by stri k ing ‘‘paragraphs (1)( B )and( 2 )(B)’’ and inserting ‘‘para- graphs (1)(B), (2)(B), and (3)(B)’’. (d) I N C REA S E OF CREDIT L IMITATION FOR FU E L CELL P RO P - ERT Y .—Subparagraph (B) of section 48(c)(1) is amended by striking ‘‘ $5 00’’ and inserting ‘‘$1,500’’. (e) PU B LIC U TILITY PROPERTY T A K EN INTO ACCOUNT.— (1) IN GENERAL.—Paragraph (3) of section 48(a) is amended by striking the second sentence thereof. (2) CONFORMING AMENDMENTS.— (A) Paragraph (1) of section 48(c) is amended by striking subparagraph ( D ) and redesignating subparagraph ( E ) as subparagraph (D). (B) Paragraph (2) of section 48(c) is amended by striking subparagraph (D) and redesignating subparagraph (E) as subparagraph (D). (f) EFFECTI V E DATE.— (1) IN GENERAL.—Except as otherwise pro v ided in this sub- section, the amendments made by this section shall take effect on the date of the enactment of this Act. (2) ALLO W ANCE AGAINST ALTERNATIVE MINIMUM TA X .—The amendments made by subsection (b) shall apply to credits deter- mined under section 46 of the Internal R evenue Code of 1 9 86 in taxable years beginning after the date of the enactment of this Act and to carrybacks of such credits. (3) COMBINED H EAT AND POWER AND FUEL CELL PROPERTY.— The amendments made by subsections (c) and (d) shall apply to periods after the date of the enactment of this Act, in taxable years ending after such date, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990). (4) PUBLIC UTILITY PROPERTY.—The amendments made by subsection (e) shall apply to periods after February 13, 2008, in taxable years ending after such date, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990). SEC.104 .E N E RGY CRE DITFO RS MAL L W IND P ROPERTY. (a) IN G ENERAL.—Section 48(a)(3)(A), as amended by section 103, is amended by striking ‘‘or’’ at the end of clause (iv), by adding ‘‘or’’ at the end of clause (v), and by inserting after clause (v) the following new clause
‘‘(vi) q ualified small wind energy property,’’. (b) 30 PERCENT CREDIT.—Section 48(a)(2)(A)(i) is amended by striking ‘‘and’’ at the end of subclause (II) and by inserting after subclause (III) the following new subclause: ‘‘(I V ) qualified small wind energy property, and’’. 26USC48note.
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