Rev. Proc. 2024-19, page 899.

The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) are issuing this revenue procedure to provide the process under § 48(e) of the Inter

nal Revenue Code to apply for an allocation of environmental justice solar and wind capacity limitation (Capacity Limitation) as part of the low-income communities bonus credit program (Program) for the 2024 Program year. Additionally, this revenue procedure describes how the Capacity Limitation for the 2024 Program year will be divided across the facility categories described in §§ 48(e)(2)(A)(iii) and 1.48(e)-1(b)(2), the Category 1 sub-reservation described in § 1.48(e)-1(i) (1), and the additional selection criteria application options described in § 1.48(e)-1(h). Receipt of an allocation of Capacity Limitation increases the amount of an energy investment credit determined under § 48(a) for the taxable year in which certain solar and wind-powered electricity generation facilities are placed in service.