12 2 STA T .384 4 PUBLIC LA W 11 0– 343 —O CT. 3 , 2008 (1)Par a g ra ph (1) ofsecti o n54A ( d ) , asa m ended by this Act, is amended to read as fo l lo w s
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‘(1) QUALIF I EDT A XCR EDIT BON D .—T he term ‘ qu alified ta x credit bond ’ means— ‘‘(A) a qualified forestry conser v ation bond, ‘‘( B ) a new clean renewable energy bond, or ‘‘( C ) a qualified energy conservation bond, which is part of an issue that meets requirements of paragraphs ( 2 ),( 3 ), (4), (5), and ( 6 ).’’. (2) S ubparagraph (C) of section 54A(d)(2), as amended by this Act, is amended to read as follows: ‘‘(C) QUALIFIED P URPO S E.— F or purposes of this para - graph, the term ‘qualified purpose’ means— ‘‘(i) in the case of a qualified forestry conservation bond, a purpose specified in section 54B(e), ‘‘(ii) in the case of a new clean renewable energy bond, a purpose specified in section 54C(a)(1), and ‘‘(iii) in the case of a qualified energy conservation bond, a purpose specified in section 54 D (a)(1).’’. (3) The table of sections for subpart I of part I V of sub- chapter A of chapter 1, as amended by this Act, is amended by adding at the end the following new item: ‘ ‘ Sec.54D . Qualif ie d e n e rgy c o n s er v a t ion b onds. ’ ’. (c) E FFECTI V E DATE.—The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act. SEC.302 .C R E DITFO R N ON BU SINESS ENER GYP ROPERTY. (a) EXTENSION OF CREDIT.—Section 25C(g) is amended by stri k ing ‘‘placed in service after December 31, 2 0 0 7 ’’ and inserting ‘‘placed in service— ‘‘(1) after December 31, 2007, and before J anuary 1, 200 9 , or ‘‘(2) after December 31, 2009.’’. (b) QUALIFIED BIO M ASS FUEL PROPERT Y .— (1) IN G ENERAL.—Section 25C(d)(3) is amended— (A) by striking ‘‘and’’ at the end of subparagraph (D), (B) by striking the period at the end of subparagraph (E) and inserting ‘‘, and’’, and (C) by adding at the end the following new subpara- graph: ‘‘(F) a stove which uses the burning of biomass fuel to heat a dwelling unit located in the U nited States and used as a residence by the taxpayer, or to heat water for use in such a dwelling unit, and which has a thermal efficiency rating of at least 75 percent.’’. (2) BIOMASS FUEL.—Section 25C(d) is amended by adding at the end the following new paragraph: ‘‘(6) BIOMASS FUEL.—The term ‘biomass fuel’ means any plant-derived fuel available on a renewable or recurring basis, including agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (including aquatic plants), grasses, residues, and fibers.’’. (c) M ODIFICATION OF W ATER H EATER R E Q UIREMENTS.—Section 25C(d)(3)(E) is amended by inserting ‘‘or a thermal efficiency of at least 90 percent’’ after ‘‘0. 8 0’’. Ap p licab ili ty.26USC54 A no t e .
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