Section 1. Purpose

Section 2. Background Section 3. Definitions Section 4. Section 48C Phase II Program Section 5. Concept Papers and Applications for DOE Recommendation and § 48C Certification Section 6. Issuance of Certification Section 7. Other Requirements Section 8. Reduction or Forfeiture of Allocated Credits Section 9. Qualified Progress Expenditures Section 10. Disclosure of Information Section 11. Effective Date Section 12. Paperwork Reduction Act Section 13. Drafting Information Appendix A. Agreement Appendix B. Request for Concept Papers and Applications for DOE Recommendation

§ 48C(b)) for that taxable year with respect to the taxpayer’s qualifying advanced energy project (as defined in § 48C(c)(1)).

.07 Section 48C(b)(1) provides that the qualified investment for any taxable year is the basis of eligible property that is placed in service by the taxpayer during such taxable year and is part of a qualifying advanced energy project.

.08 Section 48C(b)(3) provides that the qualified investment for all taxable years with respect to any qualifying advanced energy project is limited to the amount designated by the Secretary as eligible for the credit under § 48C.

.09 Section 48C(d)(3) specifies the criteria that must be considered in determining which qualifying advanced energy projects are certified under § 48C(d).

.10 The qualifying advanced energy project credit generally is allowed in the taxable year in which the eligible property (as defined in § 48C(c)(2)) is placed in service (as defined in section 3.04 of this notice) by the taxpayer. Pursuant to § 48C(d)(2)(C), a taxpayer that receives a certification under § 48C(d)(2) has 3 years from the date of issuance of certification to place the qualifying advanced energy project in service. If the taxpayer does not place the project in service by the end of that period, the certification is no longer valid.

.11 The at-risk rules in § 49 and the recapture and other special rules in § 50