SECTION 2. Election Procedures

.01 In General . An election to treat a qualified facility as a qualified investment credit facility and take the investment tax credit determined under § 48 in lieu of the production tax credit under § 45 will be effective if it is made in the form and manner set forth in this notice. To make the election with respect to a qualified facility, a taxpayer must claim the energy credit with respect to qualified property that is an integral part of the facility on a completed Form 3468 and file such form with the taxpayer’s income tax return for the year in which the property is placed in service. The taxpayer must make a separate election for each qualified facility that is to be treated as a qualified investment credit facility. The taxpayer must also attach a statement to the Form 3468 that includes the following information:

(1) The name, address, taxpayer identification number, and telephone number of the taxpayer.

(2) For each qualified investment credit facility:

(i) A detailed technical description of the facility, including generating capacity.

June 22, 2009 1094 2009–25 I.R.B.

in lieu of the production tax credit under § 45. The estimated total annual reporting burden is 100 hours. The estimated annual burden per respondent varies from 50 to 70 minutes, depending on individual circumstances, with an estimated average burden of 60 minutes to complete the statement required to claim the credit. The estimated number of respondents is 100. The estimated frequency of responses is once.

Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.