§ 468A.
(c)
Income and deductions of the taxpayer
(1)
Inclusion of amounts distributed
There shall be includible in the gross income of the taxpayer for any taxable year—
(A)
any amount distributed from the Fund during such taxable year, other than any amount distributed to pay costs described in subsection (e)(4)(B), and
(B)
except to the extent provided in regulations, amounts properly includible in gross income in the case of any deemed distribution under subsection (e)(6), any termination under subsection (e)(7), or the disposition of any interest in the nuclear powerplant.
(2)
Deduction when economic performance occurs
(d)
Ruling amount
For purposes of this section—
(2)
Ruling amount
The term “ruling amount” means, with respect to any taxable year, the amount which the Secretary determines under paragraph (1) to be necessary to—
(A)
fund the total nuclear decommissioning costs with respect to such power plant over the estimated useful life of such power plant, and
(B)
prevent any excessive funding of such costs or the funding of such costs at a rate more rapid than level funding, taking into account such discount rates as the Secretary deems appropriate.
(f)
Transfers into qualified funds
(2)
Deduction for amounts transferred
(B)
Denial of deduction for previously deducted amounts
(C)
Transfers of qualified funds
If—
(i)
any transfer permitted by this subsection is made to any Fund to which this section applies, and
(ii)
such Fund is transferred thereafter,
any deduction under this subsection for taxable years ending after the date that such Fund is transferred shall be allowed to the transferor for the taxable year which includes such date.
(D)
Special rules
(i)
Gain or loss not recognized on transfers to Fund
(ii)
Transfers of appreciated property to Fund
(3)
New ruling amount required
(4)
No basis in qualified funds
(Added [Pub. L. 98–369, div. A, title I, § 91(c)(1)], July 18, 1984, [98 Stat. 604]; amended [Pub. L. 99–514, title XVIII, § 1807(a)(4)(A)(i)], (B)–(E)(vi), Oct. 22, 1986, [100 Stat. 2812], 2813; [Pub. L. 102–486, title XIX, § 1917(a)], (b), Oct. 24, 1992, [106 Stat. 3024], 3025; [Pub. L. 104–188, title I, § 1704(j)(6)], Aug. 20, 1996, [110 Stat. 1882]; [Pub. L. 109–58, title XIII, § 1310(a)]–(e), Aug. 8, 2005, [119 Stat. 1007–1009].)