PUBLIC LAW 98-369—JULY 18, 1984
98 STAT. 834
"Subpart F—Rules for Computing Targeted Jobs Credit". (3) The table of subparts for such part IV (as amended by subsection (a) of section 471) is amended by adding at the end thereof the following: "Subpart E. Rules for computing credit for investment in certain depreciable property. "Subpart F. Rules for computing targeted jobs credit." (o) INVESTMENT TAX CREDIT.—
(1) Section 46 (relating to amount of investment tax credit) is amended by striking out subsections (a) and (b) and inserting in lieu thereof the following:
26 USC 46.
Ante, p. 827.
"(a) AMOUNT OF INVESTMENT CREDIT.—For purposes of section 38,
the amount of the investment credit determined under this section for any taxable year shall be an amount equal to the sum of the following percentages of the qualified investment.(as determined under subsections (c) and (d)): "(1) the regular percentage, "(2) in the case of energy property, the energy percentage, and "(3) in the case of that portion of the basis of any property which is attributable to qualified rehabilitation expenditures, the rehabilitation p e r c e n t ^ e. "(b) DETERMINATION OF PERCENTAGES.—For purposes of subsection (a)"(1) REGULAR PERCENTAGE.—The regular percentage is 10 percent. "(2) ENERGY PERCENTAGE.—
"(A) IN GENERAL.—The energy percentage shall be determined in accordance with the following table: <\ -' "Column A—Description
Column B— Percentage
In the case of:
The energy percentage is:
(i) GENERAL RULE.—Property not described
10 percent
Column C—Period For the period: Beginning on:
And ending on:
Oct. 1, 1978
Dec. 31, 1982
Oct. 1, 1978
Dec. 31, 1979
Jan. 1, 1980
Dec. 31, 1985
Jan. 1, 1980
Dec. 31.1985
Jan. 1, 1980
Dec. 31, 1985
(v) QUALIFIED INTERCTTY BUSES.—Property 10 percent
Jan. 1, 1980
Dec. 31, 1985
described in section 48(l)(2)(A)(ix). (vi) BiOMASS PROPERTY.—Property described 10 percent in section 48(1)(15).
Oct. 1, 1978
Dec. 31, 1985
(vii) CHLOR-ALKAU ELECTROLYTIC CELLS.—
Jan. 1, 1980
Dec. 31, 1982
in any of the following provisions of this column, (ii) SOLAR WIKD, OR GEOTHERMAL PROPER- A. 10 percent
TY.—Property described in 48(l)(2)(A)(ii) or 48(l)(3)(A)(vii).
section B. 15 percent
(iii) OCEAN THERMAL PROPERTY.—Property 15 percent
described in section 48(l)(3)(AXbc). (iv) QUALIFIED HYDROELECTRIC GENERATING U percent
PROPERTY.—Property described in section 48(l)(2)(A)(vii).
10 percent
Property described in section 48(IX5XM). "(B) PERIODS FOR WHICH PERCENTAGE NOT SPECIFIED.—In "Kiii
the case of any energy property, the energy percentage shall be zero for any period for which an energy percentage is not specified for such property under subparagraph (A) (as modified by subparagraphs (C) and (D)). "(C) LONGER PERIOD FOR CERTAIN LONG-TERM PROJECTS.—
For the purpose of applying the energy percentage con-
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