Qualifying Advanced Coal Project Credit

§ 48A. Qualifying advanced coal project credit(a) In generalFor purposes of section 46, the qualifying advanced coal project credit for any taxable year is an amount equal to—(1) 20 percent of the qualified investment for such taxable year in the case of projects described in subsection (d)(3)(B)(i), (2) 15 percent of the qualified investment for such taxable year in the case of projects described in subsection (d)(3)(B)(ii), and (3) 30 percent of the qualified investment for such taxable year in the case of projects described in clause (iii) of subsection (d)(3)(B). (b) Qualified investment(1) In generalFor purposes of subsection (a), the qualified investment for any taxable year is the basis of eligible property placed in service by the taxpayer during such taxable year which is part of a qualifying advanced coal project—(A)(i) the construction, reconstruction, or erection of which is completed by the taxpayer, or (ii) which is acquired by the taxpayer if the original use of such property commences with the taxpayer, and (B) with respect to which depreciation (or amortization in lieu of depreciation) is allowable. (2) Special rule for certain subsidized propertyRules similar to section 48(a)(4) (without regard to subparagraph (D) thereof) shall apply for purposes of this section. (3) Certain qualified progress expenditures rules made applicableRules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of this section. (c) DefinitionsFor purposes of this section—(1) Qualifying advanced coal projectThe term “qualifying advanced coal project” means a project which meets the requirements of subsection (e). (2) Advanced coal-based generation technologyThe term “advanced coal-based generation technology” means a technology which meets the requirements of subsection (f). (3) Eligible propertyThe term “eligible property” means—(A) in the case of any qualifying advanced coal project using an integrated gasification combined cycle, any property which is a part of such project and is necessary for the gasification of coal, including any coal handling and gas separation equipment, and (B) in the case of any other qualifying advanced coal project, any property which is a part of such project. (4) CoalThe term “coal” means anthracite, bituminous coal, subbituminous coal, lignite, and peat. (5) Greenhouse gas capture capabilityThe term “greenhouse gas capture capability” means an integrated gasification combined cycle technology facility capable of adding components which can capture, separate on a long-term basis, isolate, remove, and sequester greenhouse gases which result from the generation of electricity.