12 2 STA T .38 2 4PUBLIC LA W 11 0– 343 —O CT. 3 , 2008 credits t h e ap p l icati onf or w hich is s ubm itted durin g the period described in section 48A( d ) ( 2 )(A)(ii) of the I nternal R e v enue C ode of 19 8 6 and which are allocated or reallocated after the date of the enactment of this Act . (2) DISCLO S URE O FA LLOCA T IO N S. —T he amendment made b y subsection (d) shall apply to certifications made after the date of the enactment of this Act. ( 3 ) CLERICAL A M EN D MENT.—The amendment made by sub - section (c)( 5 ) shall ta k e effect as if included in the amendment made by section 13 07 (b) of the E nergy Ta x Incentives Act of 2005. SEC.1 1 2 . E XPAN S IO NAN DM ODI F ICA T ION OF COA LG ASIFICATION IN V ESTMENT C R EDIT. (a) M ODIFICATION OF CREDIT AMOUNT.— S ection 48 B (a) is amended by inserting ‘ ‘(30 percent in the case of credits allocated under subsection (d)(1)(B)) ’ ’ after ‘‘20 percent’’. (b) E XP ANSION OF A G GREGATE CREDITS.—Section 48B(d)(1) is amended by striking ‘‘shall not exceed $ 350 , 000,000’’ and all that follows and inserting ‘‘shall not exceed— ‘‘(A) $350,000,000, plus ‘‘(B) $250,000,000 for q ualifying gasification pro j ects that include equipment which separates and sequesters at least 75 percent of such project’s total carbon dioxide emissions.’’. (c) RECAPTURE OF CREDIT FOR F AILURE TO SE Q UESTER.—Section 48B is amended by adding at the end the following new subsection
‘‘(f) RECAPTURE OF CREDIT FOR FAILURE TO SEQUESTER.—The Secretary shall provide for recapturing the benefit of any credit allowable under subsection (a) with respect to any project which fails to attain or maintain the separation and sequestration require- ments for such project under subsection (d)(1).’’. (d) SELECTION P RIORITIES.—Section 48B(d) is amended by adding at the end the following new paragraph: ‘‘(4) SELECTION PRIORITIES.—In determining which quali- fying gasification projects to certify under this section, the Secretary shall— ‘‘(A) give highest priority to projects with the greatest separation and sequestration percentage of total carbon dioxide emissions, and ‘‘(B) give high priority to applicant participants who have a research partnership with an eligible educational institution (as defined in section 529(e)(5)).’’. (e) ELIGI B LE PRO J ECTS INCLUDE TRANSPORTATION G RADE L IQUID FUELS.—Section 48B(c)(7) (defining eligible entity) is amended by striking ‘‘and’’ at the end of subparagraph (F), by striking the period at the end of subparagraph (G) and inserting ‘‘, and’’, and by adding at the end the following new subparagraph: ‘‘( H ) transportation grade liquid fuels.’’. (f) EFFECTI V E DATE.—The amendments made by this section shall apply to credits described in section 48B(d)(1)(B) of the Internal Revenue Code of 1986 which are allocated or reallocated after the date of the enactment of this Act. SEC. 11 3 . TEMPORAR Y INCREASE IN COAL EXCISE TAX
F U NDING OF B LAC K LUNG DISABILITY TRUST FUND. (a) EXTENSION OF TEMPORAR Y INCREASE.—Paragraph (2) of sec- tion 4121(e) is amended— 26USC48Bnote. 26 USC 48B.
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