119 STAT. 1006
PUBLIC LAW 109–58—AUG. 8, 2005
of chemical feedstocks, liquid transportation fuels, or coproduction of electricity, ‘‘(E) the award recipient’s project team is competent in the construction and operation of the gasification technology proposed, with preference given to those recipients with experience which demonstrates successful and reliable operations of the technology on domestic fuels so identified, and ‘‘(F) the award recipient has met other criteria established and published by the Secretary. ‘‘(e) DENIAL OF DOUBLE BENEFIT.—A credit shall not be allowed under this section for any qualified investment for which a credit is allowed under section 48A.’’. (c) CONFORMING AMENDMENTS.— (1) Section 49(a)(1)(C) is amended by striking ‘‘and’’ at the end of clause (ii), by striking clause (iii), and by adding after clause (ii) the following new clauses: ‘‘(iii) the basis of any property which is part of a qualifying advanced coal project under section 48A, and ‘‘(iv) the basis of any property which is part of a qualifying gasification project under section 48B.’’. (2) The table of sections for subpart E of part IV of subchapter A of chapter 1 is amended by inserting after the item relating to section 48 the following new items: ‘‘Sec. 48A. Qualifying advanced coal project credit. ‘‘Sec. 48B. Qualifying gasification project credit.’’. 26 USC 46 note.
(d) EFFECTIVE DATE.—The amendments made by this section shall apply to periods after the date of the enactment of this Act, 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. 1308. ELECTRIC TRANSMISSION PROPERTY TREATED AS 15-YEAR PROPERTY.
(a) IN GENERAL.—Subparagraph (E) of section 168(e)(3) (relating to classification of certain property) is amended by striking ‘‘and’’ at the end of clause (v), by striking the period at the end of clause (vi) and inserting ‘‘, and’’, and by adding at the end the following new clause: ‘‘(vii) any section 1245 property (as defined in section 1245(a)(3)) used in the transmission at 69 or more kilovolts of electricity for sale and the original use of which commences with the taxpayer after April 11, 2005.’’. (b) ALTERNATIVE SYSTEM.—The table contained in section 168(g)(3)(B) (relating to special rule for certain property assigned to classes) is amended by inserting after the item relating to subparagraph (E)(vi) the following new item:
‘‘(E)(vii) ........................................................................................................ 26 USC 168 note.
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(c) EFFECTIVE DATE.— (1) IN GENERAL.—The amendments made by this section shall apply to property placed in service after April 11, 2005.
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