SECTION 5. RULES RELATING TO

THE AVAILABILITY OF THE FUEL CELL CREDIT

.01 Leased Facility . The fuel cell credit is allowed to the lessor of qualified fuel

cell energy property if depreciation (or amortization in lieu of depreciation) is allowable to the lessor with respect to the property. The lessee of qualified fuel cell property generally may not claim the fuel cell credit for such property.

.02 Mobile Plant . The fuel cell credit is allowed with respect to a taxpayer’s mobile fuel cell power plant if the plant satisfies the conditions of sections 3.01(1) and section 3.02 of this notice.

.03 Generation Efficiency . The electricity-only generation efficiency of a fuel cell power plant may be determined in accordance with the standards of ANSI/ASME PTC 50–2002 Fuel Cell Power Systems Performance or equivalent testing procedures under normal operating conditions using the lower heating value of the primary fuel.