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USC Title 26 enacted through 2008

§ 54D. Qualified energy conservation bonds

Qualified energy conservation bond
For purposes of this subchapter, the term "qualified energy conservation bond" means any bond issued as part of an issue if -
100 percent of the available project proceeds of such issue are to be used for one or more qualified conservation purposes,
the bond is issued by a State or local government, and
the issuer designates such bond for purposes of this section.
Reduced credit amount
The annual credit determined under section 54A(b) with respect to any qualified energy conservation bond shall be 70 percent of the amount so determined without regard to this subsection.
Limitation on amount of bonds designated
The maximum aggregate face amount of bonds which may be designated under subsection (a) by any issuer shall not exceed the limitation amount allocated to such issuer under subsection (e).
National limitation on amount of bonds designated
There is a national qualified energy conservation bond limitation of $800,000,000.
In general
The limitation applicable under subsection (d) shall be allocated by the Secretary among the States in proportion to the population of the States.
Allocations to largest local governments
In general
In the case of any State in which there is a large local government, each such local government shall be allocated a portion of such State's allocation which bears the same ratio to the State's allocation (determined without regard to this subparagraph) as the population of such large local government bears to the population of such State.
Allocation of unused limitation to State
The amount allocated under this subsection to a large local government may be reallocated by such local government to the State in which such local government is located.
Large local government
For purposes of this section, the term "large local government" means any municipality or county if such municipality or county has a population of 100,000 or more.
Allocation to issuers; restriction on private activity bonds
Any allocation under this subsection to a State or large local government shall be allocated by such State or large local government to issuers within the State in a manner that results in not less than 70 percent of the allocation to such State or large local government being used to designate bonds which are not private activity bonds.
Qualified conservation purpose
For purposes of this section -
In general
The term "qualified conservation purpose" means any of the following:
Capital expenditures incurred for purposes of -
reducing energy consumption in publicly-owned buildings by at least 20 percent,
implementing green community programs,
rural development involving the production of electricity from renewable energy resources, or
any qualified facility (as determined under section 45(d) without regard to paragraphs (8) and (10) thereof and without regard to any placed in service date).
Expenditures with respect to research facilities, and research grants, to support research in -
development of cellulosic ethanol or other nonfossil fuels,
technologies for the capture and sequestration of carbon dioxide produced through the use of fossil fuels,
increasing the efficiency of existing technologies for producing nonfossil fuels,
automobile battery technologies and other technologies to reduce fossil fuel consumption in transportation, or
technologies to reduce energy use in buildings.
Mass commuting facilities and related facilities that reduce the consumption of energy, including expenditures to reduce pollution from vehicles used for mass commuting.
Demonstration projects designed to promote the commercialization of -
green building technology,
conversion of agricultural waste for use in the production of fuel or otherwise,
advanced battery manufacturing technologies,
technologies to reduce peak use of electricity, or
technologies for the capture and sequestration of carbon dioxide emitted from combusting fossil fuels in order to produce electricity.
Public education campaigns to promote energy efficiency.
Special rules for private activity bonds
For purposes of this section, in the case of any private activity bond, the term "qualified conservation purposes" shall not include any expenditure which is not a capital expenditure.
In general
The population of any State or local government shall be determined for purposes of this section as provided in section 146(j) for the calendar year which includes the date of the enactment of this section.
Special rule for counties
In determining the population of any county for purposes of this section, any population of such county which is taken into account in determining the population of any municipality which is a large local government shall not be taken into account in determining the population of such county.
Application to Indian tribal governments
An Indian tribal government shall be treated for purposes of this section in the same manner as a large local government, except that -
an Indian tribal government shall be treated for purposes of subsection (e) as located within a State to the extent of so much of the population of such government as resides within such State, and
any bond issued by an Indian tribal government shall be treated as a qualified energy conservation bond only if issued as part of an issue the available project proceeds of which are used for purposes for which such Indian tribal government could issue bonds to which section 103(a) applies.

Tax Code (Internal Revenue Code) Section Index

U.S. GAAP by Codification Topic
105 GAAP Hierarchy
105 GAAP History

205 Presentation of Financial Statements
205-20 Discontinued Operations
210 Balance Sheet
210-20 Offsetting
220 Comprehensive Income
225 Income Statement
225-20 Extraordinary and Unusual Items
230 Statement of Cash Flows
250 Accounting Changes and Error Corrections
260 Earnings per Share
270 Interim Reporting

310 Impairment of a Loan
320 Investment Securities
320 Other-Than-Temporary Impairments, FSP FAS 115-2
320-10-05 Overview of Investments in Other Entities
320-10-35 Reclassification of Investments in Securities
323-10 Equity Method Investments
323-30 Investments in Partnerships and Joint Ventures
325-20 Cost Method Investments
330 Inventory

340-20 Capitalized Advertising Costs
350-20 Goodwill
350-30 Intangibles Other than Goodwill
350-40 Internal-Use Software
350-50 Website Development Costs
360 Property, Plant and Equipment
360-20 Real Estate Sales

410 Asset Retirement and Environmental Obligations
420 Exit or Disposal Cost Obligations
450 Contingencies
450-20 Loss Contingencies
450-30 Gain Contingencies
480 Redeemable Financial Instruments

505-20 Stock Dividends, Stock Splits
505-30 Treasury Stock

605 SEC Staff Accounting Bulletin, Topic 13
605-25 Revenue Recognition - Multiple Element Arrangements

715-30 Defined Benefit Plans - Pension
718 Share-Based Payment
730 Research and Development
730-20 Research and Development Arrangements

805 Business Combinations
810 Consolidation
810 Noncontrolling Interests
810 Consolidation of Variable Interest Entities, SFAS 167

815 Derivatives and Hedging Overview

820 Fair Value Measurements
820 Fair value when the markets are not active, FSP FAS 157-4
825 Fair Value Option

830 Foreign Currency Matters
830-20 Foreign Currency Transactions
830-30 Translation of Financial Statements
835 Interest
835-20 Capitalization of Interest
835-30 Imputation of Interest

840 Leases
840-20 Operating Leases
840-30 Capital Leases
840-40 Sale-Leaseback Transactions
845 Nonmonetary Transactions

855 Subsequent Events
860-20 Sale of Financial Assets, SFAS 166
860-50 Servicing Assets and Liabilities, SFAS 156

985-20 Costs of software to be sold

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