12 2 STA T .38 21 PUBLIC LA W 11 0– 3 4 3 —O CT. 3 , 2008 ‘ ‘ (B)withresp e c tt oany other f aci l ity pro du cin g refined coal , any facility placed in ser v ice after the date of the enact m ent of the A merican J o b s C reation Act of 20 0 4 and before January 1 , 2010 .’ ’. (d) C O O RDINAT ION W IT H CR E DIT F OR P ROD UC IN GF UE L FRO M A N ONCON V ENTIONAL S OURCE. — (1) I N GENERAL.—Subparagraph (B) of section 4 5 (e)( 9 )of the Internal R evenue Code of 19 86 is amended— (A) by stri k ing ‘‘ T he term’’ and inserting the following
‘‘(i) IN GENERAL.—The term’’, and (B) by adding at the end the following new clause: ‘‘(ii) EX CE P TION FOR S TEEL INDUSTR Y COAL.—In the case of a facility producing steel industry fuel, clause (i) shall not apply to so much of the refined coal pro - duced at such facility as is steel industry fuel.’’. (2) NO DOU B LE BENEFIT.—Section 45 K (g)(2) of such Code is amended by adding at the end the following new subpara- graph: ‘‘(E) COORDINATION W ITH SECTION 45 .—No credit shall be allowed with respect to any q ualified fuel which is steel industry fuel (as defined in section 45(c)( 7 )) if a credit is allowed to the ta x payer for such fuel under section 45.’’. (e) EFFECTIVE D ATE.—The amendments made by this section shall apply to fuel produced and sold after September 3 0, 2008. SEC.109 .S P EC IALRU LE TO I M PLEME N T F ERC AN D STATE ELECTRIC RESTRUCTURIN G POLIC Y . (a) EXTENSION FOR Q UALIFIED ELECTRIC U TILITIES.— (1) IN GENERAL.—Paragraph (3) of section 451(i) is amended by inserting ‘‘(before January 1, 2010, in the case of a qualified electric utility)’’ after ‘‘January 1, 2008’’. (2) QUALIFIED ELECTRIC UTILITY.—Subsection (i) of section 451 is amended by redesignating paragraphs (6) through (10) as paragraphs (7) through (11), respectively, and by inserting after paragraph (5) the following new paragraph: ‘‘(6) QUALIFIED ELECTRIC UTILITY.—For purposes of this subsection, the term ‘qualified electric utility’ means a person that, as of the date of the qualifying electric transmission transaction, is vertically integrated, in that it is both— ‘‘(A) a transmitting utility (as defined in section 3(23) of the Federal Power Act (16 U.S.C. 796(23))) with respect to the transmission facilities to which the election under this subsection applies, and ‘‘(B) an electric utility (as defined in section 3(22) of the Federal Power Act (16 U.S.C. 796(22))).’’. (b) EXTENSION OF PERIOD FOR TRANSFER OF O PERATIONAL CON- TROL AUTHORI Z ED BY FERC.—Clause (ii) of section 451(i)(4)(B) is amended by striking ‘‘December 31, 2007’’ and inserting ‘‘the date which is 4 years after the close of the taxable year in which the transaction occurs’’. (c) PROPERTY L OCATED OUTSIDE THE UNITED STATES NOT TREATED AS EXEMPT UTILITY PROPERTY.—Paragraph (5) of section 451(i) is amended by adding at the end the following new subpara- graph: ‘‘(C) EXCEPTION FOR PROPERTY LOCATED OUTSIDE THE UNITED STATES.—The term ‘exempt utility property’ shall 26USC45note. 26 USC 45.
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