PUBLIC LAW 109–58—AUG. 8, 2005 ‘‘SUBPART H.
119 STAT. 997
NONREFUNDABLE CREDIT TO HOLDERS OF CERTAIN BONDS.’’.
(2) Section 1397E(c)(2) is amended by inserting ‘‘, and subpart H thereof’’ after ‘‘refundable credits’’. (3) Subsection (h) of section 1397E is amended to read as follows: ‘‘(h) CREDIT TREATED AS NONREFUNDABLE BONDHOLDER CREDIT.—For purposes of this title, the credit allowed by this section shall be treated as a credit allowable under subpart H of part IV of subchapter A of this chapter.’’. (4) Section 6401(b)(1) is amended by striking ‘‘and G’’ and inserting ‘‘G, and H’’. (d) ISSUANCE OF REGULATIONS.—The Secretary of the Treasury shall issue regulations required under section 54 of the Internal Revenue Code of 1986 (as added by this section) not later than 120 days after the date of the enactment of this Act. (e) EFFECTIVE DATE.—The amendments made by this section shall apply to bonds issued after December 31, 2005.
Deadline. 26 USC 54 note.
26 USC 54 note.
SEC. 1304. TREATMENT OF INCOME OF CERTAIN ELECTRIC COOPERATIVES.
(a) ELIMINATION OF SUNSET ON TREATMENT OF INCOME FROM OPEN ACCESS AND NUCLEAR DECOMMISSIONING TRANSACTIONS.— Section 501(c)(12)(C) is amended by striking the last sentence. (b) ELIMINATION OF SUNSET ON TREATMENT OF INCOME FROM LOAD LOSS TRANSACTIONS.—Section 501(c)(12)(H) is amended by striking clause (x). (c) EFFECTIVE DATE.—The amendments made by this section shall take effect on the date of the enactment of this Act.
26 USC 501 note.
SEC. 1305. DISPOSITIONS OF TRANSMISSION PROPERTY TO IMPLEMENT FERC RESTRUCTURING POLICY.
(a) IN GENERAL.—Section 451(i)(3) (defining qualifying electric transmission transaction) is amended by striking ‘‘2007’’ and inserting ‘‘2008’’. (b) TECHNICAL AMENDMENT RELATED TO SECTION 909 OF THE AMERICAN JOBS CREATION ACT OF 2004.—Clause (ii) of section 451(i)(4)(B) is amended by striking ‘‘the close of the period applicable under subsection (a)(2)(B) as extended under paragraph (2)’’ and inserting ‘‘December 31, 2007’’. (c) EFFECTIVE DATES.— (1) IN GENERAL.—The amendment made by subsection (a) shall apply to transactions occurring after the date of the enactment of this Act. (2) TECHNICAL AMENDMENT.—The amendment made by subsection (b) shall take effect as if included in the amendments made by section 909 of the American Jobs Creation Act of 2004.
26 USC 451 note.
SEC. 1306. CREDIT FOR PRODUCTION FROM ADVANCED NUCLEAR POWER FACILITIES.
(a) IN GENERAL.—Subpart D of part IV of subchapter A of chapter 1 (relating to business related credits) is amended by adding after section 45I the following new section:
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