SECTION 5. TRANSITION

PROCESS FOR CLAIMING THE STATUTORY EXCEPTION TO THE ELECTIVE PAYMENT PHASEOUTS

.01 Exception for Eligible Construc- tion . If an Applicable Entity provides an attestation described in section 5.02 of this notice with respect to an Applicable Credit Property the construction of which begins before January 1, 2025 (Eligible

Construction), the Treasury Department and the IRS will treat the attestation as establishing that a Domestic Content Exception is met with respect to such Applicable Credit Property.

.02 Attestation . An attestation is described in this section 5.02 if an Applicable Entity attests, under penalties of perjury, that it has reviewed the requirements for the Increased Cost Exception and the Non-Availability Exception provided under §§ 45(b)(10)(D), 48(a)(13), 45Y(g) (12)(D), or 48E(d)(5), as applicable, and has made a good faith determination that the qualified facility, energy project, or qualified investment with respect to a qualified facility or energy storage technology, as applicable, qualifies for either the Increased Cost Exception or the Non-Availability Exception, or both. The attestation described in this section 5.02 must be signed by a person with the legal authority to bind the Applicable Entity in federal tax matters and must be attached to a Form 8835, Renewable Electricity Product Credit ; Form 3468, Investment Credit ; or other applicable form required to be filed by the Applicable Entity to make an elective payment election under § 6417.

.03 Recordkeeping . An Applicable Entity providing an attestation described in section 5.02 of this notice must meet the general recordkeeping requirements under § 6001 and the regulations thereunder to substantiate its attestation.