119 STAT. 998
PUBLIC LAW 109–58—AUG. 8, 2005
‘‘SEC. 45J. CREDIT FOR PRODUCTION FROM ADVANCED NUCLEAR POWER FACILITIES.
Deadline.
VerDate 14-DEC-2004
08:19 Oct 26, 2006
‘‘(a) GENERAL RULE.—For purposes of section 38, the advanced nuclear power facility production credit of any taxpayer for any taxable year is equal to the product of— ‘‘(1) 1.8 cents, multiplied by ‘‘(2) the kilowatt hours of electricity— ‘‘(A) produced by the taxpayer at an advanced nuclear power facility during the 8-year period beginning on the date the facility was originally placed in service, and ‘‘(B) sold by the taxpayer to an unrelated person during the taxable year. ‘‘(b) NATIONAL LIMITATION.— ‘‘(1) IN GENERAL.—The amount of credit which would (but for this subsection and subsection (c)) be allowed with respect to any facility for any taxable year shall not exceed the amount which bears the same ratio to such amount of credit as— ‘‘(A) the national megawatt capacity limitation allocated to the facility, bears to ‘‘(B) the total megawatt nameplate capacity of such facility. ‘‘(2) AMOUNT OF NATIONAL LIMITATION.—The national megawatt capacity limitation shall be 6,000 megawatts. ‘‘(3) ALLOCATION OF LIMITATION.—The Secretary shall allocate the national megawatt capacity limitation in such manner as the Secretary may prescribe. ‘‘(4) REGULATIONS.—Not later than 6 months after the date of the enactment of this section, the Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this subsection. Such regulations shall provide a certification process under which the Secretary, after consultation with the Secretary of Energy, shall approve and allocate the national megawatt capacity limitation. ‘‘(c) OTHER LIMITATIONS.— ‘‘(1) ANNUAL LIMITATION.—The amount of the credit allowable under subsection (a) (after the application of subsection (b)) for any taxable year with respect to any facility shall not exceed an amount which bears the same ratio to $125,000,000 as— ‘‘(A) the national megawatt capacity limitation allocated under subsection (b) to the facility, bears to ‘‘(B) 1,000. ‘‘(2) OTHER LIMITATIONS.—Rules similar to the rules of section 45(b)(1) shall apply for purposes of this section. ‘‘(d) ADVANCED NUCLEAR POWER FACILITY.—For purposes of this section— ‘‘(1) IN GENERAL.—The term ‘advanced nuclear power facility’ means any advanced nuclear facility— ‘‘(A) which is owned by the taxpayer and which uses nuclear energy to produce electricity, and ‘‘(B) which is placed in service after the date of the enactment of this paragraph and before January 1, 2021. ‘‘(2) ADVANCED NUCLEAR FACILITY.—For purposes of paragraph (1), the term ‘advanced nuclear facility’ means any nuclear facility the reactor design for which is approved after December 31, 1993, by the Nuclear Regulatory Commission
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