SECTION 1. PURPOSE

Section 48A of the Internal Revenue Code (Code), as originally enacted by the Energy Policy Act of 2005, Pub. L. 109-58, 119 Stat. 594 (August 5, 2005), provided for the first phase of the Qualifying Advanced Coal Project Program by authorizing the allocation of $1.3 billion of credits (§ 48A Phase I Program). Section 111 of the Energy Improvement and Extension Act of 2008, Pub. L. 110-343, 122 Stat. 3765 (October 3, 2008), amended § 48A to provide for a second phase of the Qualifying Advanced Coal Project Program by authorizing the allocation of an additional $1.25 billion of credits (§ 48A Phase II Program). Pursuant to § 48A(d)(4), on August 13, 2012, the Department of the Treasury (Treasury Department) and the Internal Revenue Service (Service) published Notice 2012-51, 2012-33 I.R.B. 150, to reallocate § 48A credits available after the conclusion of the § 48A Phase I and Phase II Programs (§ 48A Phase III Program). On March 9, 2015, the Treasury Department and the Service published Notice 2015-14, 2015-10 I.R.B. 722, announcing the 2015 reallocation round (Round 2) of the § 48A Phase III program.

This notice updates and amplifies the procedures for the allocation of § 48A Phase III credits by announcing the beginning of Round 3 of the § 48A Phase III Program.

To be considered in Round 3 of the § 48A Phase III Program, applications must be submitted to the Department of Energy (DOE) (Application for DOE Certification) and to the Service (Application for § 48A Certification) on or before March 28, 2021. See section 3 of this notice for additional rules regarding these applications.