124 STAT. 78 PUBLIC LAW 111–147—MAR. 18, 2010 ‘‘(2) SPECIAL RULE FOR NEW CLEAN RENEWABLE ENERGY BONDS AND QUALIFIED ENERGY CONSERVATION BONDS.—In the case of any specified tax credit bond described in clause (i) or (ii) of paragraph (3)(A), the amount determined under para- graph (1)(C)(ii) shall be 70 percent of the amount so determined without regard to this paragraph and sections 54C(b) and 54D(b). ‘‘(3) SPECIFIED TAX CREDIT BOND.—For purposes of this subsection, the term ‘specified tax credit bond’ means any quali- fied tax credit bond (as defined in section 54A(d)) if— ‘‘(A) such bond is— ‘‘(i) a new clean renewable energy bond (as defined in section 54C), ‘‘(ii) a qualified energy conservation bond (as defined in section 54D), ‘‘(iii) a qualified zone academy bond (as defined in section 54E), or ‘‘(iv) a qualified school construction bond (as defined in section 54F), and ‘‘(B) the issuer of such bond makes an irrevocable election to have this subsection apply.’’. (b) TECHNICAL CORRECTIONS RELATING TO QUALIFIED SCHOOL CONSTRUCTION BONDS.— (1) The second sentence of section 54F(d)(1) is amended by striking ‘‘by the State’’ and inserting ‘‘by the State education agency (or such other agency as is authorized under State law to make such allocation)’’. (2) The second sentence of section 54F(e) is amended by striking ‘‘subsection (d)(4)’’ and inserting ‘‘paragraphs (2) and (4) of subsection (d)’’. (c) EFFECTIVE DATES.— (1) IN GENERAL.—The amendment made by subsection (a) shall apply to bonds issued after the date of the enactment of this Act. (2) TECHNICAL CORRECTIONS.—The amendments made by subsection (b) shall take effect as if included in section 1521 of the American Recovery and Reinvestment Tax Act of 2009. TITLE IV—EXTENSION OF CURRENT SURFACE TRANSPORTATION PRO- GRAMS SEC. 401. SHORT TITLE. This title may be cited as the ‘‘Surface Transportation Extension Act of 2010’’. Subtitle A—Federal-aid Highways SEC. 411. IN GENERAL. (a) IN GENERAL.—Except as provided in this Act, requirements, authorities, conditions, eligibilities, limitations, and other provisions authorized under titles I, V, and VI of the SAFETEA–LU (119 Stat. 1144), the SAFETEA–LU Technical Corrections Act of 2008 Incorporation by reference. Termination date. 23 USC 101 note. Surface Transportation Extension Act of 2010. 26 USC 54F note. Applicability. 26 USC 6431 note. 26 USC 54.
