SECTION 1. PURPOSE

This Notice solicits applications for allocations of the remaining available amount of the national limitation (volume cap) for new clean renewable energy bonds (“New CREBs”) under § 54C(a) of the Internal Revenue Code (“Code”). The available amounts include forfeited amounts previously allocated under Notice 2009–33, 2009–1 C.B. 865 (April 27, 2009), and Announcement 2010–54, 2010–2 C.B. 386 (September 20, 2010). This Notice also provides related guidance on the following: (1) application requirements and forms for requests for volume cap allocations; and (2) the method that the Department of the Treasury and the Internal Revenue Service (IRS) will use to allocate the remaining volume cap.