26 USC 45U - Zero-emission nuclear power production credit

U.S Code last checked for updates: Nov 22, 2024

§ 45U.

Zero-emission nuclear power production credit

(a)

Amount of credit

For purposes of section 38, the zero-emission nuclear power production credit for any taxable year is an amount equal to the amount by which—

(1)

the product of—

(A)

0.3 cents, multiplied by

(B)

the kilowatt hours of electricity—

(i)

produced by the taxpayer at a qualified nuclear power facility, and

(ii)

sold by the taxpayer to an unrelated person during the taxable year, exceeds

(2)

the reduction amount for such taxable year.

(b)

Definitions

(1)

Qualified nuclear power facility

For purposes of this section, the term “qualified nuclear power facility” means any nuclear facility—

(A)

which is owned by the taxpayer and which uses nuclear energy to produce electricity,

(B)

which is not an advanced nuclear power facility as defined in subsection (d)(1) of section 45J, and

(C)

which is placed in service before the date of the enactment of this section.

(2)

Reduction amount

(A)

In general

For purposes of this section, the term “reduction amount” means, with respect to any qualified nuclear power facility for any taxable year, the amount equal to the lesser of—

(i)

the amount determined under subsection (a)(1), or

(ii)

the amount equal to 16 percent of the excess of—

(I)

subject to subparagraph (B), the gross receipts from any electricity produced by such facility (including any electricity services or products provided in conjunction with the electricity produced by such facility) and sold to an unrelated person during such taxable year, over

(II)

the amount equal to the product of—

(aa)

2.5 cents, multiplied by

(bb)

the amount determined under subsection (a)(1)(B).

(B)

Treatment of certain receipts

(i)

In general

(ii)

Zero-emission credit program

(iii)

Exclusion

(3)

Electricity

(c)

Other rules

(1)

Inflation adjustment

(2)

Special rules

(d)

Wage requirements

(1)

Increased credit amount for qualified nuclear power facilities

(2)

Prevailing wage requirements

(A)

In general

(B)

Correction and penalty related to failure to satisfy wage requirements

(3)

Regulations and guidance

(e)

Termination

(Added and amended Pub. L. 117–169, title I, §§ 13105(a), 13204(b)(2), Aug. 16, 2022, 136 Stat. 1929, 1940.)

cite as: 26 USC 45U