26 U.S.C. § 45J: Credit for production from advanced nuclear power facilities

1.8 cents, multiplied by produced by the taxpayer at an advanced nuclear power facility during the 8-year period beginning on the date the facility was originally placed in service, and sold by the taxpayer to an unrelated person during the taxable year. the national megawatt capacity limitation allocated to the facility, bears to the total megawatt nameplate capacity of such facility. The aggregate amount of national megawatt capacity limitation allocated by the Secretary under paragraph (3) shall not exceed 6,000 megawatts. The Secretary shall allocate the national megawatt capacity limitation in such manner as the Secretary may prescribe. Not later than 6 months after the date of the enactment of or any amendment to this section, the Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this subsection. Such regulations shall provide a certification process under which the Secretary, after consultation with the Secretary of Energy, shall approve and allocate the national megawatt capacity limitation. first to facilities placed in service on or before such date to the extent that such facilities did not receive an allocation equal to their full nameplate capacity, and then to facilities placed in service after such date in the order in which such facilities are placed in service. 6,000 megawatts, over the aggregate amount of national megawatt capacity limitation allocated by the Secretary before January 1, 2021 , reduced by any amount of such limitation which was allocated to a facility which was not placed in service before such date. such allocation shall be treated for purposes of this section in the same manner as an allocation of national megawatt capacity limitation, and subsection (d)(1)(B) shall not apply to any facility which receives such allocation. the national megawatt capacity limitation allocated under subsection (b) to the facility, bears to 1,000. the amount by which the reference price (as defined in section 45(e)(2)(C)) for the calendar year in which the sale occurs exceeds 8 cents, bears to 3 cents. The 8 cent amount in subparagraph (A) shall be adjusted by multiplying such amount by the inflation adjustment factor (as defined in section 45(e)(2)(B)) for the calendar year in which the sale occurs. If any amount as increased under the preceding sentence is not a multiple of 0.1 cent, such amount shall be rounded to the nearest multiple of 0.1 cent. which is owned by the taxpayer and which uses nuclear energy to produce electricity, and which is placed in service after the date of the enactment of this paragraph and before January 1, 2021 . For purposes of paragraph (1), the term “advanced nuclear facility” means any nuclear facility the reactor design for which is approved after December 31, 1993 , by the Nuclear Regulatory Commission (and such design or a substantially similar design of comparable capacity was not approved on or before such date). a qualified public entity would be the taxpayer (but for this paragraph), and such entity elects the application of this paragraph for such taxable year with respect to all (or any portion specified in such election) of such credit, a Federal, State, or local government entity, or any political subdivision, agency, or instrumentality thereof, a mutual or cooperative electric company described in section 501(c)(12) or 1381(a)(2), or a not-for-profit electric utility which had or has received a loan or loan guarantee under the Rural Electrification Act of 1936. is responsible for, or participates in, the design or construction of the advanced nuclear power facility to which the credit under subsection (a) relates, participates in the provision of the nuclear steam supply system to such facility, participates in the provision of nuclear fuel to such facility, is a financial institution providing financing for the construction or operation of such facility, or has an ownership interest in such facility. for purposes of paragraph (1)(A), a qualified public entity shall be treated as the taxpayer with respect to such entity’s distributive share of such credit, and the term “eligible project partner” shall include any partner of the partnership. In the case of any credit (or portion thereof) with respect to which an election is made under paragraph (1), such credit shall be taken into account in the first taxable year of the eligible project partner ending with, or after, the qualified public entity’s taxable year with respect to which the credit was determined. For purposes of section 141(b)(1), any benefit derived by an eligible project partner in connection with an election under this subsection shall not be taken into account as a private business use. Rules similar to the rules of paragraphs (1), (3), (4), and (5) of section 45(e) shall apply for purposes of this section. The amendment made by subsection (a) [amending this section] shall take effect on the date of the enactment of this Act [ Feb. 9, 2018 ]. The amendments made by subsection (b) [amending this section and section 501 of this title ] shall apply to taxable years beginning after the date of the enactment of this Act.”