PUBLIC LAW 102-486—OCT. 24, 1992 106 STAT. 3015 "(iii) 65 percent in the case of subsidies provided after 1996. "(b) DENIAL OF DOUBLE BENEFIT. — Notwithstanding any other provision of this subtitle, no deduction or credit shall be allowed for, or by reason of, any expenditure to the extent of the amount excluded under subsection (a) for any subsidy which was provided with respect to such expenditure. The adjusted basis of any property shall be reduced by the amount excluded under subsection (a) which was provided with respect to such property. "(c) ENERGY CONSERVATION MEASURE.— "(1) IN GENERAL.— For purposes of this section, the term 'energy conservation measure' means any installation or modification primarily designed to reduce consumption of electricity or natural gas or to improve the management of energy demand— "(A) with respect to a dwelling unit, and "(B) on or after January 1, 1995, with respect to property other than dwelling units. The purchase and installation of specially defined energy property shall be treated as an energy conservation measure described in subparagraph (B). "(2) OTHER DEFINITIONS AND SPECIAL RULES.— For purposes of this subsection— "(A) SPECIALLY DEFINED ENERGY PROPERTY. —The term 'specially defined energy property* means— "(i) a recuperator, "(ii) a heat wheel, "(iii) a regenerator, "(iv) a heat exchanger, "(v) a waste heat boiler, "(vi) a heat pipe, "(vii) an automatic energy control system, "(viii) a turbulator, "(ix) a preheater, "(x) a combustible gas recovery system, "(xi) an economizer, "(xii) modifications to alumina electrolytic cells, "(xiii) modifications to chlor-alkali electrolytic cells, or "(xiv) any other property of a kind specified by the Secretary by regulations, the principal purpose of which is reducing the amount of energy consumed in any existing industrial or commercial process and which is installed in connection with an existing industrial or commercial facility. "(B) DWELLING UNIT. —The term 'dwelling unit' has the meaning given such term by section 280A(f)(l). "(C) PUBLIC UTILITY.— The term 'public utility' means a person engaged in the sale of electricity or natural gas to residential, commercial, or industrial customers for use by such customers. For purposes of the preceding sentence, the term 'person' includes the Federal Government, a State or local government or any political subdivision thereof, or any instrumentality of any of the foregoing. "(d) EXCEPTION. —This section shall not apply to any payment to or from a qualified cogeneration facility or qualifying small
�
