26 U.S.C. 48: Energy credit

2022

• Pub. L. 117–169, §13102(d)(1)(A)(i), substituted "6 percent" for "30 percent" in introductory provisions. Law text · (a)
• Pub. L. 117–169, §13102(a)(1), (e) substituted "clause (i) or (iii) of paragraph (3)(A)" for "paragraph (3)(A)(i)" and "January 1, 2025" for "January 1, 2024". Law text · (a)
• Pub. L. 117–169, §13102(f)(2), added subcls. (VI) to (IX). Law text · (a)
• Pub. L. 117–169, §13102(d)(1)(A)(ii), substituted "2 percent" for "10 percent". Law text · (a)
• Pub. L. 117–169, §13102(h), inserted ", or electrochromic glass which uses electricity to change its light transmittance properties in order to heat or cool a structure," after "sunlight". Law text · (a)
• Pub. L. 117–169, §13102(a)(2), substituted "January 1, 2025" for "January 1, 2024". Law text · (a)
• Pub. L. 117–169, §13102(b), substituted "January 1, 2035" for "January 1, 2024". Law text · (a)
• Pub. L. 117–169, §13102(f)(1), added cls. (ix) to (xi). Law text · (a)
• Pub. L. 117–169, §13102(m), amended par. (4) generally. Prior to amendment, par. (4) related to special rule for property financed by subsidized energy financing or industrial development bonds. Law text · (a)
• Pub. L. 117–169, §13102(d)(1)(B), substituted "6 percent" for "30 percent". Law text · (a)
• Pub. L. 117–169, §13101(d), substituted "January 1, 2025" for "January 1, 2022". Law text · (a)
• Pub. L. 117–169, §13101(e)(2)(B), inserted "placed in service before January 1, 2022, and" before "treated as energy property" in introductory provisions. Law text · (a)
• Pub. L. 117–169, §13101(e)(3), substituted "offshore wind facility, subparagraph (E) shall not apply." for "offshore wind facility— Law text · (a)
• Pub. L. 117–169, §13102(c), added par. (6) and struck out former par. (6) which related to phaseout for solar energy property the construction of which began before Jan. 1, 2024. Law text · (a)
• Pub. L. 117–169, §13102(d)(2), added par. (7). Law text · (a)
• Pub. L. 117–169, §13102(c), struck out par. (7) which related to phaseout for any qualified fuel cell property, qualified small wind property, waste energy recovery property, and certain other energy property. Law text · (a)
• Pub. L. 117–169, §13102(j), added par. (8). Law text · (a)
• Pub. L. 117–169, §13102(k), added par. (9). Law text · (a)
• Pub. L. 117–169, §13204(c)(2), inserted "and paragraph (15)" after "paragraphs (1) through (8)". Law text · (a)
• Pub. L. 117–169, §13102(k), added pars. (10) and (11). Law text · (a), (11)
• Pub. L. 117–169, §13102(l), added pars. (12) and (13). Law text · (a), (13)
• Pub. L. 117–169, §13102(o), added par. (14). Law text · (a)
• Pub. L. 117–169, §13204(c)(1), added par. (15). Former par. (15) redesignated (16). Law text · (a)
• Pub. L. 117–169, §13102(p), added par. (15). Law text · (a)
• Pub. L. 117–169, §13204(c)(1), redesignated par. (15) as (16). Law text · (a)
• Pub. L. 117–169, §13102(g)(1)(A), inserted "(1 kilowatt in the case of a fuel cell power plant with a linear generator assembly)" after "0.5 kilowatt" and "or electromechanical" after "electrochemical". Law text · (c)
• Pub. L. 117–169, §13102(g)(1)(B), inserted ", or linear generator assembly," after "a fuel cell stack assembly" and "or electromechanical" after "electrochemical". Law text · (c)
• Pub. L. 117–169, §13102(g)(2), added subpar. (D). Former subpar. (D) redesignated (E). Law text · (c)
• Pub. L. 117–169, §13102(a)(3), substituted "January 1, 2025" for "January 1, 2024". Law text · (c)
• Pub. L. 117–169, §13102(g)(2), redesignated subpar. (D) as (E). Law text · (c)
• Pub. L. 117–169, §13102(a)(4), substituted "January 1, 2025" for "January 1, 2024". Law text · (c)
• Pub. L. 117–169, §13102(a)(5), substituted "January 1, 2025" for "January 1, 2024". Law text · (c)
• Pub. L. 117–169, §13102(a)(6), substituted "January 1, 2025" for "January 1, 2024". Law text · (c)
• Pub. L. 117–169, §13102(a)(7), substituted "January 1, 2025" for "January 1, 2024". Law text · (c)
• Pub. L. 117–169, §13102(f)(3), added pars. (6) to (8). Law text · (c)
• Pub. L. 117–169, §13103(a), added subsec. (e). Law text · (e)

2020

• Pub. L. 116–260, §132(a)(1)(A), substituted "January 1, 2024" for "January 1, 2022". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §203(b), added subcl. (V). (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §132(a)(1)(B), substituted "January 1, 2024" for "January 1, 2022". (Consolidated Appropriations Act, 2021) Law text · (a), (vii)
• Pub. L. 116–260, §203(a), added cl. (viii). (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §131(b), substituted "January 1, 2022" for "January 1, 2021". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §131(c)(2), substituted "January 1, 2022" for "January 1, 2021". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §204(a), added subpar. (F). (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §132(b)(1)(A)(i), substituted "January 1, 2024, the energy percentage" for "January 1, 2022, the energy percentage" in introductory provisions. (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §132(b)(1)(A)(ii), substituted "January 1, 2023" for "January 1, 2021". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §132(b)(1)(A)(iii), substituted "after December 31, 2022, and before January 1, 2024" for "after December 31, 2020, and before January 1, 2022". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §132(b)(1)(B), substituted "begins before January 1, 2024, and which is not placed in service before January 1, 2026" for "begins before January 1, 2022, and which is not placed in service before January 1, 2024". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §203(c)(2), substituted "certain other" for "fiber-optic solar, qualified fuel cell, and qualified small wind" in heading. (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §203(c)(1), inserted "waste energy recovery property," after "qualified small wind property," in introductory provisions. (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §132(b)(2)(A)(i), substituted "January 1, 2023" for "January 1, 2021". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §132(b)(2)(A)(ii), substituted "after December 31, 2022, and before January 1, 2024" for "after December 31, 2020, and before January 1, 2022". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §132(b)(2)(B), substituted "January 1, 2026" for "January 1, 2024". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, §132(a)(2), substituted "January 1, 2024" for "January 1, 2022". (Consolidated Appropriations Act, 2021) Law text · (c), (2), (3), (4)
• Pub. L. 116–260, §203(d), added par. (5). (Consolidated Appropriations Act, 2021) Law text · (c)

2019

• Pub. L. 116–94, §127(b), substituted "January 1, 2021" for "January 1, 2018 (January 1, 2020, in the case of any facility which is described in paragraph (1) of section 45(d))". (Further Consolidated Appropriations Act, 2020) Law text · (a)
• Pub. L. 116–94, §127(c)(2)(B), added cl. (iv). (Further Consolidated Appropriations Act, 2020) Law text · (a)

2018

• Pub. L. 115–141, §401(a)(20), substituted "and (3)(B)" for "(3)(B), and (4)(B)". (Consolidated Appropriations Act, 2018) Law text · (a)
• Pub. L. 115–123, §40411(b)(2), substituted "paragraphs (6) and (7)" for "paragraph (6)" in introductory provisions. (Bipartisan Budget Act of 2018) Law text · (a)
• Pub. L. 115–123, §40411(a), substituted "property the construction of which begins before January 1, 2022" for "periods ending before January 1, 2017". (Bipartisan Budget Act of 2018) Law text · (a), (vii)
• Pub. L. 115–141, §401(a)(350)(A), made technical amendment to directory language of Pub. L. 114–113, §302(a). See 2015 Amendment note below. (Consolidated Appropriations Act, 2018) Law text · (a)
• Pub. L. 115–123, §40409(b), substituted "January 1, 2018" for "January 1, 2017". (Bipartisan Budget Act of 2018) Law text · (a)
• Pub. L. 115–141, §401(a)(350)(B), made technical amendment to directory language of Pub. L. 114–113, §302(b). See 2015 Amendment note below. (Consolidated Appropriations Act, 2018) Law text · (a)
• Pub. L. 115–123, §40411(b)(3), inserted "which is treated as energy property by reason of this paragraph" after "using wind to produce electricity" in introductory provisions. (Bipartisan Budget Act of 2018) Law text · (a)
• Pub. L. 115–141, §401(a)(21), substituted "energy property" for "property energy property". (Consolidated Appropriations Act, 2018) Law text · (a)
• Pub. L. 115–123, §40411(b)(1), added par. (7). (Bipartisan Budget Act of 2018) Law text · (a)
• Pub. L. 115–123, §40411(c), substituted "the construction of which does not begin before January 1, 2022" for "for any period after December 31, 2016". (Bipartisan Budget Act of 2018) Law text · (c)
• Pub. L. 115–141, §401(a)(22), substituted "equal to $200" for "equal $200". (Consolidated Appropriations Act, 2018) Law text · (c)
• Pub. L. 115–123, §40411(d), substituted "the construction of which does not begin before January 1, 2022" for "for any period after December 31, 2016". (Bipartisan Budget Act of 2018) Law text · (c)
• Pub. L. 115–123, §40411(e), substituted "the construction of which begins before January 1, 2022" for "which is placed in service before January 1, 2017". (Bipartisan Budget Act of 2018) Law text · (c)
• Pub. L. 115–123, §40411(f), substituted "the construction of which does not begin before January 1, 2022" for "for any period after December 31, 2016". (Bipartisan Budget Act of 2018) Law text · (c)
• Pub. L. 115–141, §401(a)(23)(A), struck out "shall" after "grant" in introductory provisions. (Consolidated Appropriations Act, 2018) Law text · (d)
• Pub. L. 115–141, §401(a)(23)(B), inserted "shall" before "not". (Consolidated Appropriations Act, 2018) Law text · (d)

2015

• Pub. L. 114–113, §303(c), substituted "Except as provided in paragraph (6), the energy percentage" for "The energy percentage" in introductory provisions. (Consolidated Appropriations Act, 2016) Law text · (a)
• Pub. L. 114–113, §303(a), substituted "property the construction of which begins before January 1, 2022" for "periods ending before January 1, 2017". (Consolidated Appropriations Act, 2016) Law text · (a)
• Pub. L. 114–113, §187(b), substituted "January 1, 2017" for "January 1, 2015". (Consolidated Appropriations Act, 2016) Law text · (a)
• Pub. L. 114–113, §302(a), as amended by Pub. L. 115–141, §401(a)(350)(A), inserted "(January 1, 2020, in the case of any facility which is described in paragraph (1) of section 45(d))" before ", and". (Consolidated Appropriations Act, 2016) Law text · (a)
• Pub. L. 114–113, §302(b), as amended by Pub. L. 115–141, §401(a)(350)(B), added subpar. (E). (Consolidated Appropriations Act, 2016) Law text · (a)
• Pub. L. 114–113, §303(b), added par. (6). (Consolidated Appropriations Act, 2016) Law text · (a)

2014

• Pub. L. 113–295, §155(b), substituted "January 1, 2015" for "January 1, 2014". Law text · (a)
• Pub. L. 113–295, §209(d), inserted "or alternative minimum taxable income" after "includible in the gross income". Law text · (d)

2013

• Pub. L. 112–240, §407(b), amended subpar. (C) generally. Prior to amendment, text read as follows: "For purposes of this paragraph, the term 'qualified investment credit facility' means any of the following facilities if no credit has been allowed under section 45 with respect to… (American Taxpayer Relief Act of 2012) Law text · (a)
• Pub. L. 112–240, §407(c)(1), added cls. (iii) and (iv). (American Taxpayer Relief Act of 2012) Law text · (a), (iv)

2009

• Pub. L. 111–5, §1103(b)(1), added subpar. (D). (American Recovery and Reinvestment Act of 2009) Law text · (a)
• Pub. L. 111–5, §1102(a), added par. (5). (American Recovery and Reinvestment Act of 2009) Law text · (a)
• Pub. L. 111–5, §1103(a), redesignated subpars. (C) and (D) as (B) and (C), respectively, and struck out former subpar. (B). Text of former subpar. (B) read as follows: "In the case of qualified small wind energy property placed in service during the taxable year, the credi… (American Recovery and Reinvestment Act of 2009) Law text · (c)
• Pub. L. 111–5, §1104, added subsec. (d). (American Recovery and Reinvestment Act of 2009) Law text · (d)

2008

• Pub. L. 110–343, §104(d), substituted "paragraphs (1)(B), (2)(B), (3)(B), and (4)(B)" for "paragraphs (1)(B), (2)(B), and (3)(B)". (Emergency Economic Stabilization Act of 2008) Law text · (a)
• Pub. L. 110–343, §103(c)(3), substituted "paragraphs (1)(B), (2)(B), and (3)(B)" for "paragraphs (1)(B) and (2)(B)". (Emergency Economic Stabilization Act of 2008) Law text · (a)
• Pub. L. 110–343, §103(a)(1), substituted "January 1, 2017" for "January 1, 2009". (Emergency Economic Stabilization Act of 2008) Law text · (a)
• Pub. L. 110–343, §104(b), added subcl. (IV). (Emergency Economic Stabilization Act of 2008) Law text · (a)
• Pub. L. 110–343, §103(e)(1), in concluding provisions, struck out "The term 'energy property' shall not include any property which is public utility property (as defined in section 46(f)(5) as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of… (Emergency Economic Stabilization Act of 2008) Law text · (a)
• Pub. L. 110–343, §103(a)(1), substituted "January 1, 2017" for "January 1, 2009". (Emergency Economic Stabilization Act of 2008) Law text · (a)
• Pub. L. 110–343, §103(c)(1), added cl. (v). (Emergency Economic Stabilization Act of 2008) Law text · (a)
• Pub. L. 110–343, §104(a), added cl. (vi). (Emergency Economic Stabilization Act of 2008) Law text · (a)
• Pub. L. 110–343, §105(a), added cl. (vii). (Emergency Economic Stabilization Act of 2008) Law text · (a)
• Pub. L. 110–343, §103(c)(2)(A), inserted heading and struck out former heading "Qualified fuel cell property; qualified microturbine property". (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(d), substituted "$1,500" for "$500". (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(e)(2)(A), redesignated subpar. (E) as (D) and struck out heading and text of former subpar. (D). Text read as follows: "The first sentence of the matter in subsection (a)(3) which follows subparagraph (D) thereof shall not apply to qualified fuel cell proper… (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(e)(2)(A), redesignated subpar. (E) as (D). (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(a)(2), substituted "December 31, 2016" for "December 31, 2008". (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(e)(2)(B), redesignated subpar. (E) as (D) and struck out heading and text of former subpar. (D). Text read as follows: "The first sentence of the matter in subsection (a)(3) which follows subparagraph (D) thereof shall not apply to qualified microturbine pro… (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(e)(2)(B), redesignated subpar. (E) as (D). (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(a)(3), substituted "December 31, 2016" for "December 31, 2008". (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(c)(2)(B), added par. (3). (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §104(c), added par. (4). (Emergency Economic Stabilization Act of 2008) Law text · (c)

2007

• Pub. L. 110–172, §11(a)(8), substituted "section" for "subsection" in introductory provisions. (Tax Technical Corrections Act of 2007) Law text · (c)
• Pub. L. 110–172, §11(a)(9), substituted "subsection (a)" for "paragraph (1)". (Tax Technical Corrections Act of 2007) Law text · (c), (2)

2006

• Pub. L. 109–432, §207(1), substituted "January 1, 2009" for "January 1, 2008". (Tax Relief and Health Care Act of 2006) Law text · (a), (3)
• Pub. L. 109–432, §207(2), substituted "December 31, 2008" for "December 31, 2007". (Tax Relief and Health Care Act of 2006) Law text · (c), (2)

2005

• Pub. L. 109–135, §412(m), substituted "paragraphs (1)(B) and (2)(B) of subsection (c)" for "paragraph (1)(B) or (2)(B) of subsection (d)". (Gulf Opportunity Zone Act of 2005) Law text · (a)
• Pub. L. 109–58, §1336(d), inserted "except as provided in paragraph (1)(B) or (2)(B) of subsection (d)," before "the energy credit". (Energy Policy Act of 2005) Law text · (a)
• Pub. L. 109–58, §1337(a), reenacted heading without change and amended text of subpar. (A) generally. Prior to amendment, text read as follows: "The energy percentage is— (Energy Policy Act of 2005) Law text · (a)
• Pub. L. 109–58, §1336(c), reenacted heading without change and amended text of subpar. (A) generally. Prior to amendment, text read as follows: "The energy percentage is 10 percent." (Energy Policy Act of 2005) Law text · (a)
• Pub. L. 109–58, §1337(c), inserted "excepting property used to generate energy for the purposes of heating a swimming pool," after "solar process heat,". (Energy Policy Act of 2005) Law text · (a)
• Pub. L. 109–135, §412(n)(2), struck out "or" at end. (Gulf Opportunity Zone Act of 2005) Law text · (a)
• Pub. L. 109–58, §1337(b), added cl. (ii). Former cl. (ii) redesignated (iii) relating to equipment used to produce, distribute, or use energy derived from a geothermal deposit. (Energy Policy Act of 2005) Law text · (a)
• Pub. L. 109–58, §1337(b), redesignated cl. (ii) as (iii) relating to equipment used to produce, distribute, or use energy derived from a geothermal deposit. (Energy Policy Act of 2005) Law text · (a)
• Pub. L. 109–58, §1336(a), added cl. (iii) relating to qualified fuel cell property or qualified microturbine property. (Energy Policy Act of 2005) Law text · (a)
• Pub. L. 109–135, §412(n)(1), redesignated cl. (iii), relating to qualified fuel cell property or qualified microturbine property, as (iv). (Gulf Opportunity Zone Act of 2005) Law text · (a)
• Pub. L. 109–58, §1336(b), added subsec. (c). (Energy Policy Act of 2005) Law text · (c)

2004

• Pub. L. 108–357, §322(d)(2)(B), struck out "; reforestation credit" after "Energy credit" in section catchline. (American Jobs Creation Act of 2004) Law text
• Pub. L. 108–357, §710(e), inserted at end of concluding provisions "Such term shall not include any property which is part of a facility the production from which is allowed as a credit under section 45 for the taxable year or any prior taxable year." (American Jobs Creation Act of 2004) Law text · (a)
• Pub. L. 108–357, §322(d)(2)(A)(iii), redesignated subsec. (a)(5) as (b). (American Jobs Creation Act of 2004) Law text · (a)
• Pub. L. 108–357, §322(d)(2)(A)(ii), substituted "subsection (a)" for "this subsection". (American Jobs Creation Act of 2004) Law text · (a)
• Pub. L. 108–357, §322(d)(2)(A)(iii), redesignated subsec. (a)(5) as (b). (American Jobs Creation Act of 2004) Law text · (b)
• Pub. L. 108–357, §322(d)(2)(A)(i), struck out heading and text of subsec. (b). Text read as follows: (American Jobs Creation Act of 2004) Law text · (b)

1992

• Pub. L. 102–486 substituted "The" for "Except as provided in subparagraph (B), the" in subpar. (A), redesignated subpar. (C) as (B), and struck out former subpar. (B) which read as follows: "(B) Termination.—Effective with respect to periods after June 30, 1992, the energy percentag… · (a)

1991

• Pub. L. 102–227 substituted "June 30, 1992" for "December 31, 1991". · (a)

1990

• Pub. L. 101–508, §11813(a), amended section generally, substituting section catchline for one which read: "Definitions; special rules" and in text substituting present provisions for provisions defining section 38 property, new section 38 property, used section 38 property, provisions relating to c…
• Pub. L. 101–508, §11801(c)(6)(A), struck out par. (8) "Amortized property" which read as follows: "Any property with respect to which an election under section 167(k), 184, or 188 applies shall not be treated as section 38 property." · (a)

1988

• Pub. L. 100–647, §1002(a)(29), which directed amendment of par. (1) by substituting "property to which section 168 applies" for "recovery property (within the meaning of section 168)" in penultimate sentence, was executed by making the substitution for "recovery property (within the… · (a)
• Pub. L. 100–647, §1002(a)(14)(A)–(C), substituted "168(h)(2)(C)" for "168(j)(4)(C)", "168(h)(2)(A)(iii)" for "168(j)(4)(A)(iii)", and "168(h)(2)(B)" for "168(j)(4)(B)". · (a)
• Pub. L. 100–647, §1002(a)(14)(D), substituted "168(i)(3)" for "168(j)(6)". · (a)
• Pub. L. 100–647, §1002(a)(14)(E), substituted "168(h)(1)(C)(ii)" for "168(j)(3)(C)(ii)". · (a)
• Pub. L. 100–647, §1002(a)(14)(F), substituted "paragraphs (5) and (6) of section 168(h)" for "paragraphs (8) and (9) of section 168(j)". · (a)
• Pub. L. 100–647, §1002(a)(14)(G), amended subpar. (E) generally, substituting "provision" for "provisions" and "168(h)" for "168(j)". · (a)
• Pub. L. 100–647, §1002(a)(30), substituted "to which section 168 applies" for "which is recovery property (within the meaning of section 168)". · (l)
• Pub. L. 100–647, §1013(a)(41), substituted "a private activity bond (within the meaning of section 141)" for "an industrial development bond (within the meaning of section 103(b)(2))". · (l)
• Pub. L. 100–647, §1002(a)(20), redesignated subsec. (s), relating to cross reference, as (t). · (s)
• Pub. L. 100–647, §1002(a)(16)(A), added par. (9). · (s)
• Pub. L. 100–647, §1002(a)(20), redesignated subsec. (s), relating to cross reference, as (t). · (t)

1986

• Pub. L. 99–514, §§1272(d)(5), 1275(c)(5), struck out "932," after "931," and "or which is entitled to the benefits of section 934(b)" after "in effect under section 936", and substituted "or 933" for ", 933, or 934(c)". · (a)
• Pub. L. 99–514, §1802(a)(9)(A), substituted "514(b)" for "514(c)" and "514(a)" for "514(b)". · (a)
• Pub. L. 99–514, §1802(a)(5)(B), struck out cl. (iii) which provided that (I) in the case of any aircraft used under a qualifying lease (as defined in section 47(a)(7)(C)) and which is leased to a foreign person or entity before January 1, 1990, clause (i) shall be applied by… · (a)
• Pub. L. 99–514, §1802(a)(4)(C), added subpar. (D) and redesignated former subpar. (D) as (E). · (a), (E)
• Pub. L. 99–514, §1809(e)(1), inserted "Such term includes any section 38 property the reconstruction of which is completed by the taxpayer, but only with respect to that portion of the basis which is properly attributable to such reconstruction." · (b)
• Pub. L. 99–514, §1809(e)(2), in introductory provisions substituted "the first sentence of paragraph (1)" for "paragraph (1)", in subpar. (B) substituted "3 months after" for "3 months of", in closing provisions substituted "used under the leaseback (or lease) referred to in subpara… · (b)
• Pub. L. 99–514, §701(e)(4)(C), inserted "(as in effect on the day before the date of the enactment of the Tax Reform Act of 1986)". · (d)
• Pub. L. 99–514, §1511(c)(3), substituted "the underpayment rate" for "the rate" in closing provisions. · (d)
• Pub. L. 99–514, §251(b), amended par. (1) generally, restating in subpars. (A) to (D) provisions relating to qualified rehabilitated buildings which had in subpar. (A) provided general definition of qualified rehabilitated building, in subpar. (B) directed that 30 years must have el… · (g)
• Pub. L. 99–514, §251(b), amended par. (2) generally, in subpar. (A) striking out reference to amounts "incurred after December 31, 1981" in introductory provision, and in cl. (i) substituting subcls. (I) to (IV) for "for real property (or additions or improvements to real property) … · (g)
• Pub. L. 99–514, §1802(a)(9)(B), substituted "section 168(j)" for "section 168(j)(3)". · (g)
• Pub. L. 99–514, §251(b), in amending par. (3) generally, inserted introductory phrase "For purposes of this subsection—". · (g)
• Pub. L. 99–514, §251(b), in amending subsec. (g) generally, reenacted par. (4) without change. · (g)
• Pub. L. 99–514, §1847(b)(6), substituted "section 23(c)" for "section 44C(c)" and "section 23(c)(4)(A)(viii)" for "section 44C(c)(4)(A)(viii)". · (l)
• Pub. L. 99–514, §251(c), struck out "other than a certified historic structure" after "qualified rehabilitated building". · (q)
• Pub. L. 99–514, §1809(d)(2), renumbered par. (6), relating to special rule for qualified films, as (7). · (q)
• Pub. L. 99–514, §1879(j)(1), added subsec. (r). Former subsec. (r) redesignated (s). · (r)
• Pub. L. 99–514, §1879(j)(1), redesignated former subsec. (r) as (s). · (s)
• Pub. L. 99–514, §803(b)(2)(B), which directed the general amendment of par. (5) of subsec. (r), was executed by amending par. (5) of subsec. (s) to reflect the probable intent of Congress and the intervening redesignation of subsec. (r) as (s) by Pub. L. 99–514, §1879(j)(1), see not… · (s)

1985

• Pub. L. 99–121 substituted "19" for "18". · (g), (B)

1984

• Pub. L. 98–369, §31(b), amended par. (5) generally, to extend its scope to encompass property used by foreign persons or entities and to create an exception for short-term leases by substituting provisions covered by subpars. (A) to (D) for former provisions which had directed that … · (a)
• Pub. L. 98–369, §114(a), amended subsec. (b) generally, substituting a general definition of "new section 38 property" for definitions which made reference to property constructed, reconstructed or erected after December 31, 1961, and adding pars. (2) and (3). · (b)
• Pub. L. 98–369, §11(a), substituted "$125,000 ($150,000 for taxable years beginning after 1987)" for "$150,000 ($125,000 for taxable years beginning in 1981, 1982, 1983, or 1984)" in first sentence, and "$125,000 (or $150,000" for "$150,000 (or $125,000" in two places in second s… · (c)
• Pub. L. 98–369, §11(b), substituted "$62,500 ($75,000 for taxable years beginning after 1987)" for "$75,000 ($62,500 for taxable years beginning in 1981, 1982, 1983, or 1984)". · (c)
• Pub. L. 98–369, §474(o)(10), substituted "section 39" for "section 46(b)". · (c)
• Pub. L. 98–369, §474(o)(11), substituted "section 38(c)(3)(B)" for "section 46(a)(6)". · (d)
• Pub. L. 98–369, §431(c), added par. (6). · (d)
• Pub. L. 98–369, §474(o)(12), struck out par. (3) which provided that the $25,000 amount specified under subparagraphs (A) and (B) of section 46(a)(3) applicable to an estate or trust be reduced to an amount which bore the same ratio to $25,000 as the amount of the qualified investme… · (f)
• Pub. L. 98–369, §1043(a), added subpar. (E). · (g)
• Pub. L. 98–369, §111(e)(8)(A), (B), substituted "real property" for "property" in two places, and "18 (15 years in the case of low-income housing)" for "15". · (g)
• Pub. L. 98–369, §31(c)(2), inserted "The preceding sentence shall not apply to any expenditure to the extent subsection (f)(12) or (j) of section 168 applies to such expenditure." · (g)
• Pub. L. 98–369, §111(e)(8)(C), substituted "18 years (15 years in the case of low-income housing)" for "15 years". · (g)
• Pub. L. 98–369, §31(c)(1), added cl. (vi). · (g)
• Pub. L. 98–369, §111(e)(8)(D), added subpar. (D). · (g)
• Pub. L. 98–369, §113(b)(3)(B), inserted "or at-risk rules" after "test" in heading. · (k)
• Pub. L. 98–369, §113(b)(3)(A), inserted ", section 46(c)(8), or section 46(c)(9)". · (k)
• Pub. L. 98–369, §113(b)(3)(C), substituted "used" for "issued". · (k)
• Pub. L. 98–369, §721(x)(1), substituted "S corporation" for "electing small business corporation". · (k)
• Pub. L. 98–369, §474(o)(13), substituted "section 46(b)(2)" for "section 46(a)(2)(C)". · (l)
• Pub. L. 98–369, §735(c)(1), substituted "the chassis of which is an automobile bus chassis and the body of which is an automobile bus body" for "the chassis and body of which is exempt under section 4063(a)(6) from the tax imposed by section 4061(a)". · (l)
• Pub. L. 98–369, §474(o)(14), substituted "subsection (b)" for "subsection (a)(2)". · (m)
• Pub. L. 98–369, §474(o)(15), repealed subsec. (n). For continuing applicability of par. (4) of subsec. (n), see section 474(o)(15) of Pub. L. 98–369, set out in Effective Date of 1984 Amendment note below. · (n)
• Pub. L. 98–369, §474(o)(16), redesignated par. (8) as (3) and struck out former pars. (3) to (7) which defined "employee plan credit", "basic employee plan credit", "matching employee plan credit", "basic employee plan percentage", and "matching employee plan percentage", res… · (o)
• Pub. L. 98–369, §474(o)(17)(A), substituted "section 46(a)" for "section 46(a)(2)". · (q), (3)
• Pub. L. 98–369, §474(o)(17), substituted "section 46(a)" for "section 46(a)(2)" and "section 46(b)(1)" for "section 46(a)(2)(B)". · (q)
• Pub. L. 98–369, §474(o)(17)(B), substituted "section 46(b)(1)" for "section 46(a)(2)(B)". · (q)
• Pub. L. 98–369, §712(b), added par. (6) relating to adjustment in basis of interest in partnership or S corporation. · (q)
• Pub. L. 98–369, §113(b)(4), added par. (6) relating to special rule for qualified films. · (q)
• Pub. L. 98–369, §113(a)(1), added subsec. (r). Former subsec. (r) redesignated (s). · (r)
• Pub. L. 98–369, §474(o)(18), substituted "section 381(c)(26)" for "section 381(c)(23)". · (r)
• Pub. L. 98–369, §113(a)(1), redesignated former subsec. (r) as (s). · (s)

1983

• Pub. L. 97–448, §102(e)(2)(A), inserted "(not including a building and its structural components) used in connection" after "storage facility". · (a)
• Pub. L. 97–448, §202(c), amended directory language of Pub. L. 96–223, §223(a)(1), to correct an error, and did not involve any change in text. See 1980 Amendment note below. · (a)
• Pub. L. 97–448, §102(f)(2), (6), substituted "the 24-month period selected by the taxpayer (at the time and in the manner prescribed by regulation) and ending with or within the taxable year" for "the 24-month period ending on the last day of the taxable year" in provisions pr… · (g)
• Pub. L. 97–448, §102(f)(3), substituted "a credit is determined under section 46(a)(2)" for "a credit is allowed under this section" and "the credit so determined" for "the credit so allowed". See 1982 Amendment note for subsec. (g)(5) below and see Effective Date of 1982 and 198… · (g)
• Pub. L. 97–424, §546(a)(3), substituted reference to subpar. (N) for reference to subpar. (M) in provision following subparagraphs. · (l)
• Pub. L. 97–424, §546(a)(1), (2), added subpar. (M) and redesignated former subpar. (M) as (N). · (l), (N)
• Pub. L. 97–448, §306(a)(3), substituted "paragraphs (1) and (2) of this subsection and paragraph (5) of subsection (d)" for "paragraphs (1) and (2)". · (q)

1982

• Pub. L. 97–248, §209(c), inserted provision that for purposes of determining whether section 38 property subject to a lease is new section 38 property, such property shall be treated as originally placed in service not earlier than the date such property is used under the lease, but on… · (b)
• Pub. L. 97–354 substituted "Partnerships and S corporations" for "Partnerships" in subpar. heading, and inserted "A similar rule shall apply in the case of an S corporation and its shareholders". · (c)
• Pub. L. 97–248, §205(a)(4), added par. (5). · (d)
• Pub. L. 97–354, §5(a)(7), struck out subsec. (e) relating to apportionment among shareholders of qualified investments by an electing small business corporation. · (e)
• Pub. L. 97–248, §205(a)(5)(A), struck out par. (5) which, as amended by §102(f)(3) of Pub. L. 97–448, had provided that for purposes of this subtitle, if a credit were determined under section 46(a)(2) for any qualified rehabilitation expenditure in connection with a qualified rehab… · (g)
• Pub. L. 97–354, §5(a)(8), substituted "an S corporation" for "an electing small business corporation (within the meaning of section 1371)". · (k)
• Pub. L. 97–362, §104(a), temporarily substituted the qualification that such term does not include equipment for hydrogenation, refining, or other process subsequent to retorting other than hydrogenation or other process which is applied in the vicinity of the property from which th… · (l)
• Pub. L. 97–248, §205(a)(1), added subsec. (q) and redesignated former subsec. (q) as (r). · (q), (r)

1981

• Pub. L. 97–34, §211(e)(4), in provisions following subpar. (G), substituted "Such term includes only recovery property (within the meaning of section 168 without regard to any useful life) and any other property" for "Such term includes only property". · (a)
• Pub. L. 97–34, §211(c), added subpar. (G). · (a)
• Pub. L. 97–34, §211(h), designated existing provisions as subcl. (I) and added subcl. (II). · (a)
• Pub. L. 97–34, §212(c), added subpar. (D). · (a)
• Pub. L. 97–34, §214(a), inserted provision that, if any qualified rehabilitated building is used by the tax-exempt organization pursuant to a lease, this paragraph shall not apply to that portion of the basis of such building which is attributable to qualified rehabilitation expendi… · (a)
• Pub. L. 97–34, §214(b), inserted provision that, if any qualified rehabilitated building is used by the governmental unit pursuant to a lease, this paragraph shall not apply to that portion of the basis of such building which is attributable to qualified rehabilitation expenditures. · (a)
• Pub. L. 97–34, §212(d)(2)(A), substituted "or 188" for "188, or 191". · (a)
• Pub. L. 97–34, §211(a)(2), struck out par. (9) which set out a special rule for the depreciation of railroad track. · (a)
• Pub. L. 97–34, §213(a), amended subpars. (A) to (C) generally raising in subpar. (A) the existing $100,000 dollar limitation to $125,000 in 1981 and to $150,000 in 1985 and in subpar. (B) the existing $50,000 dollar limitation to $62,500 in 1981 and to $75,000 in 1985. · (c)
• Pub. L. 97–34, §212(b), in amending subsec. (c) generally incorporated the concept of "substantial rehabilitation" into par. (1)(A), substituted "30 years" for "20 years" as the requisite period in par. (1)(B), substituted a definition of "substantially rehabilitated" for former provis… · (g)
• Pub. L. 97–34, §211(e)(3), inserted "or which is recovery property (within the meaning of section 168)" after "3 years or more". · (l)
• Pub. L. 97–34, §332(b), substituted "which does not exceed" for "equal to". · (n)
• Pub. L. 97–34, §212(a)(3), added par. (8). · (o)

1980

• Pub. L. 96–451 added subpar. (F) and provision for treatment of the useful life of subpar. (F) property as its normal growing period. · (a)
• Pub. L. 96–223, §222(i)(2), added cl. (xi). · (a)
• Pub. L. 96–605, §109(a), included the International Maritime Satellite Organization or any successor organization within organizations not to be treated as international organizations. · (a)
• Pub. L. 95–600, §312(c)(2), as amended by Pub. L. 96–222, §103(a)(2)(A), substituted " 'described in section 50 (as in effect before its repeal by the Revenue Act of 1978' " for " 'described in section 50' ". · (a)
• Pub. L. 96–223, §223(a)(1), as amended by Pub. L. 97–448, §202(c), provided that "petroleum or petroleum products" does not include petroleum coke or petroleum pitch. · (a)
• Pub. L. 96–222, §108(c)(6), substituted "5" for "51". · (a)
• Pub. L. 96–222, §103(a)(4)(B), substituted "subsections (a)(1)(E) and (l)" for "subsection (a)(1)(E)". · (g)
• Pub. L. 96–223, §221(b)(1), substituted "For any period for which the energy percentage determined under section 46(a)(2)(C) for any energy property is greater than zero" for "For the period beginning on October 1, 1978, and ending on December 31, 1982" in provisions preceding subpa… · (l)
• Pub. L. 96–223, §222(a), added cls. (vii), (viii), and (ix). · (l)
• Pub. L. 96–223, §222(b), (g)(2), struck out "(other than coke or coke gas)" after "solid fuel" in cl. (iii) and, in cl. (v), substituted provisions relating to equipment which converts coal into a substitute for a petroleum or natural gas derived feedstock for the manufacture of … · (l)
• Pub. L. 96–223, §222(i)(1)(A), redesignated subpar. (C) as (B). Former subpar. (B), which excluded public utility property from the terms "alternative energy property", "solar or wind energy property", or "recycling equipment", was struck out. · (l)
• Pub. L. 96–223, §222(i)(1)(A), (3), redesignated subpar. (D) as (C) and inserted following cl. (ii) provision that, for the purposes of the preceding sentence, in the case of property which is alternative energy property solely by reason of the amendments made by section 222… · (l), (D)
• Pub. L. 96–223, §222(c), added subpar. (C). · (l)
• Pub. L. 96–223, §222(d), added subpar. (L), redesignated former subpar. (L) as (M), and inserted provision that the Secretary shall not specify any property under subpar. (M) unless he determines that such specification meets the requirements of par. (9) of section 44C(c) for specif… · (l)
• Pub. L. 96–223, §221(b)(2), substituted "one-half of the energy percentage determined under section 46(a)(2)(C)" for "5 percent". · (l)
• Pub. L. 96–223, §223(c)(1), completely revised par. (11) to incorporate property financed by subsidized energy financing, effective with regard to periods after Dec. 31, 1982. Prior to the revision par. (11) read as follows: "In the case of property which is financed in whole or in part by the proc… · (l)
• Pub. L. 96–223, §222(e)(1), added par. (13). · (l)
• Pub. L. 96–223, §222(f), added par. (14). · (l)
• Pub. L. 96–223, §222(g)(1), added par. (15). · (l)
• Pub. L. 96–223, §222(h), added par. (16). · (l)
• Pub. L. 96–223, §222(i)(1)(B), added par. (17). · (l)
• Pub. L. 96–222, §101(a)(7)(G), (H), (L)(i)(I)–(IV), (ii)(III)–(VI), (iii)(II), (v)(II)–(IV), (M)(ii), amended subsec. (n) generally to reflect the renaming of an investment tax credit ESOP to a tax credit employee stock ownership plan and a leveraged employee stock ownership plan (comm… · (n)
• Pub. L. 96–605, §223(a), substituted "the date on which the securities are contributed to the plan" for "the due date for filing the return for the taxable year (determined with regard to extensions)". · (n)
• Pub. L. 96–222, §101(a)(7)(L)(iii)(III), (v)(IV), (V), (M)(iii), substituted "employee plan" for "ESOP" wherever appearing and inserted "percentage" after "attributable to the matching employee plan" in par. (5). · (o)

1978

• Pub. L. 95–618, §301(d)(1), inserted "(other than an air conditioning or heating unit)" after "personal property". · (a)
• Pub. L. 95–600, §314(a), added par. (D). · (a)
• Pub. L. 95–600, §315(a), added par. (E). · (a)
• Pub. L. 95–473, §2(a)(2)(A), substituted "providing transportation subject to subchapter I of chapter 105 of title 49" for "subject to part I of the Interstate Commerce Act". · (a)
• Pub. L. 95–600, §312(c)(3), struck out "(other than pretermination property)" after "Property". · (a)
• Pub. L. 95–600, §312(c)(2), struck out "described in section 50" after "with respect to property". See 1980 Amendment note above. · (a)
• Pub. L. 95–600, §315(c), substituted "188, or 191" for "or 188". · (a)
• Pub. L. 95–618, §301(d)(2), added par. (10). · (a)
• Pub. L. 95–600, §703(a)(3), substituted "section 46(a)(6)" for "section 46(a)(5)". · (d)
• Pub. L. 95–600, §703(a)(4), substituted "section 57(c)(1)(B)" for "section 57(c)(2)". · (d)
• Pub. L. 95–600, §315(b), added subsec. (g). · (g)
• Pub. L. 95–600, §312(c)(1), struck out subsec. (h) which related to suspension of investment credit. · (h)
• Pub. L. 95–600, §312(c)(1), struck out subsec. (i) which related to an exemption from suspension of $20,000 of investment. · (i)
• Pub. L. 95–600, §312(c)(1), struck out subsec. (j) which defined "suspension period". · (j)
• Pub. L. 95–618, §301(b), added subsecs. (l) and (m) and redesignated former subsec. (l) as (n). · (l), (m)
• Pub. L. 95–618, §301(b), redesignated former subsec. (l) as (n). · (n)
• Pub. L. 95–600, §141(b), added subsec. (n). Former subsec. (n) redesignated (p). · (n)
• Pub. L. 95–600, §141(b), added subsec. (o). · (o)
• Pub. L. 95–600, §§141(b), 314(b), added subsec. (p). Former subsec. (n) redesignated (p) and subsequently as (q). · (p), (q)

1976

• Pub. L. 94–455, §1901(a)(5)(A), substituted "(43 U.S.C. 1331))" for "; 43 U.S.C., sec. 1331)". · (a)
• Pub. L. 94–455, §1051(h)(1), substituted "(other than a corporation which has an election in effect under section 936 or which is entitled to the benefits of section 934(b))" for "(other than a corporation entitled to the benefits of section 931 or 934(b))". · (a)
• Pub. L. 94–455, §1901(a)(5)(B), substituted "47 U.S.C. 702" for "47 U.S.C., sec. 702". · (a)
• Pub. L. 94–455, §§1901(b)(11)(A), 2112(a)(1), struck out "169," after "section 167(k),", "187," before "or 188 applies", and provisions relating to the limitation of the applicability of this paragraph on property to which section 169 applies. · (a)
• Pub. L. 94–455, §1906(b)(13)(A), struck out "or his delegate" after "Secretary". · (c), (d), (2)
• Pub. L. 94–455, §802(b)(6), substituted "section 46(a)(3)" for "section 46(a)(2)". · (f)
• Pub. L. 94–455, §1906(b)(13)(A), struck out "or his delegate" after "Secretary". · (i)
• Pub. L. 94–455, §804(a), added subsec. (k) and redesignated former subsec. (k) as subsec. (l). · (k), (l)

1975

• Pub. L. 94–12, §604(a), substituted "territorial waters within the northern portion of the Western Hemisphere" for "territorial waters" in cl. (x) and inserted definition of "northern portion of the Western Hemisphere" following cl. (x). · (a)
• Pub. L. 94–12 §301(c)(1)(A), substituted "$100,000" for "$50,000". · (c)
• Pub. L. 94–12, §301(c)(1)(A), (B), substituted "$50,000" for "$25,000" and "$100,000" for "$50,000". · (c)
• Pub. L. 94–12, §301(c)(1)(A), substituted "$100,000" for "$50,000". · (c)
• Pub. L. 94–12, §302(c)(3), substituted "section 46(e)(1)" for "section 46(d)(1)". · (d), (2)

1971

• Pub. L. 92–178, §102(a)(2), substituted "3 years" for "4 years" in second sentence. · (a)
• Pub. L. 92–178, §104(a)(1), substituted "research facility" for "research or storage facility" in cl. (ii) and added cl. (iii). · (a), (iii)
• Pub. L. 92–178, §104(c)(2), (3), (d), added cls. (viii) to (x), respectively. · (a)
• Pub. L. 92–178, §104(b), added subpar. (C). · (a)
• Pub. L. 92–178, §104(c)(1), inserted "(other than the International Telecommunications Satellite Consortium or any successor organization)" after "international organization". · (a)
• Pub. L. 92–178, §104(e), substituted provisions for treatment of livestock (other than horses) acquired by the taxpayer as section 38 property, with exception provision for reduction of acquisition cost by amount equal to amount realized on sale or other disposition under certain ci… · (a)
• Pub. L. 92–178, §§103, 104(f)(1), (g), added pars. (7) to (9), respectively. · (a)
• Pub. L. 92–178, §108(b) and (c), substituted "section 46(d)(1)" for "section 46(d)"; and designated as par. (1) the present first sentence, redesignated as subpars. (A) and (B) provisions formerly designated cls. (1) and (2), again substituted "section 46(d)(1)" for "section 46(d)" in … · (d)

1969

• Pub. L. 91–172, §121(d)(2)(A), inserted provision relating to the percentage of the basis or cost of debt-financed property that may be considered in computing qualified investment under section 46(c) of this title. · (a)
• Pub. L. 91–172, §401(e)(2), reenacted subpar. (C) with minor changes and substituted reference to controlled group for reference to affiliated group. · (c)
• Pub. L. 91–172, §401(e)(3), substituted definition of controlled group for definition of affiliated group. · (c)
• Pub. L. 91–172, §401(e)(4), substituted reference to a component member of a controlled group for reference to a member of an affiliated group. · (d)

1967

• Pub. L. 90–26, §3, inserted "or is operated under contract with the United States" after "the United States". · (a)
• Pub. L. 90–26, §2(a), limited definition of suspension period property to section 38 property where the physical construction, reconstruction or erection was begun before May 24, 1967, pursuant to an order placed during the suspension period, subject to the proviso that in applying … · (h)
• Pub. L. 90–26, §1, substituted "March 9, 1967" for "December 31, 1967". · (j)

1966

• Pub. L. 89–809 added cl. (vii). · (a)
• Pub. L. 89–800, §1(b), inserted provisions covering the treatment of suspension period property, and the elections to be deemed made in connection therewith. · (d)
• Pub. L. 89–800, §1(a), added subsecs. (h) to (j) and redesignated former subsec. (h) as (k). · (h), (i), (j), (k)

1964

• Pub. L. 88–272, §203(c)(2), added subpar. (C). · (a)
• Pub. L. 88–272, §203(a)(3)(A), (b), substituted "except as provided in paragraph (2)" for "if such property was constructed by the lessor (or by a corporation which controls or is controlled by the lessor within the meaning of section 368(c))" in par. (1), "if such property is leased b… · (d)
• Pub. L. 88–272, §203(a)(1), repealed subsec. (g) which required that the basis of section 38 property be reduced by 7 percent of the qualified investment. · (g)