123STA T . 32 0PUBLIC LA W 111 –5—FE B.1 7, 200 9‘ ‘ (i)suchpro p e r ty sh al l b e treate d ase n er g y prop - erty f or purposes of this section , and ‘‘(ii) the energy percentage w ith respect to such property shall be 30 percent . ‘‘( B ) DENIALOFPR O DUCT ION CREDIT. —N o credit shall be allowed under section 45 for any ta x able year with respect to any q ualified in v est m ent credit facility. ‘‘( C ) Q UALIFIED IN V E S T M ENT CREDIT FACILIT Y .— F or purposes of this paragraph, the term ‘qualified investment credit facility ’ means any of the following facilities if no credit has been allowed under section 45 with respect to such facility and the taxpayer ma k es an irrevocable election to have this paragraph apply to such facility
‘‘(i) W IND FACILITIES.— A ny qualified facility (within the meaning of section 45) described in para- graph ( 1 ) of section 45(d) if such facility is placed in service in 2 00 9 , 2010, 2011, or 2012. ‘‘(ii) O T H ER FACILITIES.—Any qualified facility (within the meaning of section 45) described in para- graph (2), (3), (4), ( 6 ),( 7 ), (9), or (11) of section 45(d) if such facility is placed in service in 2009, 2010, 2011, 2012, or 2013. ‘‘(D) QUALIFIED PROPERTY.—For purposes of this para- graph, the term ‘qualified property’ means property— ‘‘(i) which is— ‘‘( I ) tangible personal property, or ‘‘(II) other tangible property (not including a building or its structural components), but only if such property is used as an integral part of the qualified investment credit facility, and ‘‘(ii) with respect to which depreciation (or amorti z ation in lieu of depreciation) is allowable.’’. (b) E FFECTIVE DATE.— T he amendments made by this section shall apply to facilities placed in service after December 31, 200 8 . SEC.1 1 03 . R E P E ALOF CER T A IN LI M ITATIONS ON CRE D IT FOR RENE W- A B LE ENER GY PROPERTY. (a) R EPEAL OF L IMITATION ON CREDIT FOR QUALIFIED S MALL WIND ENER G Y P ROPERTY.—Paragraph (4) of section 48(c) is amended by striking subparagraph (B) and by redesignating sub- paragraphs (C) and (D) as subparagraphs (B) and (C). (b) REPEAL OF LIMITATION ON PROPERTY FINANCED B Y SUB- SIDI Z ED ENERGY FINANCING.— (1) IN GENERAL.—Section 48(a)(4) is amended by adding at the end the following new subparagraph: ‘‘(D) TERMINATION.—This paragraph shall not apply to periods after December 31, 2008, under rules similar to the rules of section 48(m) (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).’’. (2) CONFORMING AMENDMENTS.— (A) Section 25C(e)(1) is amended by striking ‘‘(8), and (9)’’ and inserting ‘‘and (8)’’. (B) Section 25D(e) is amended by striking paragraph (9). 26USC48. 26 USC 48 note .
