Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and Reference Prices for Calendar Year 2008, 23525-23526 [E8-9501]

Download as PDF rwilkins on PROD1PC63 with NOTICES Federal Register / Vol. 73, No. 84 / Wednesday, April 30, 2008 / Notices This transaction will be consummated on May 17, 2008, the effective date of the exemption (30 days after the exemption was filed), or once the transaction contemplated in STB Finance Docket No. 35125 is consummated, whichever is later. The purpose of the proposed transaction is to amend the 1992 trackage rights agreement to extend BNSF’s overhead trackage rights from milepost 148.50 to milepost 145.00 in Yale once that line is acquired by DM&E. This transaction will allow BNSF to reach its pre-existing trackage rights on DM&E’s east-west main line between Huron and Wolsey, SD. As a condition to this exemption, any employees affected by the trackage rights will be protected by the conditions imposed in Norfolk and Western Ry. Co.—Trackage Rights—BN, 354 I.C.C. 605 (1978), as modified in Mendocino Coast Ry., Inc.—Lease and Operate, 360 I.C.C. 653 (1980). This notice is filed under 49 CFR 1180.2(d)(7). If the notice contains false or misleading information, the exemption is void ab initio. Petitions to revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time. The filing of a petition to revoke will not automatically stay the effectiveness of the exemption. Stay petitions must be filed by May 9, 2008 (at least 7 days before the exemption becomes effective). Pursuant to the Consolidated Appropriations Act, 2008, Public Law No. 110–161, § 193, 121 Stat. 1844 (2007), nothing in this decision authorizes the following activities at any solid waste rail transfer facility: collecting, storing, or transferring solid waste outside of its original shipping container; or separating or processing solid waste (including baling, crushing, compacting, and shredding). The term ‘‘solid waste’’ is defined in section 1004 of the Solid Waste Disposal Act, 42 U.S.C. 6903. An original and 10 copies of all pleadings, referring to STB Finance Docket No. 32023 (Sub-No. 1), must be filed with the Surface Transportation Board, 395 E Street, SW., Washington, DC 20423–0001. In addition, a copy of each pleading must be served on Karl Morell, Ball Janik LLP, Suite 225, 1455 F Street, NW., Washington, DC 20005. Board decisions and notices are available on our Web site at https:// www.stb.dot.gov. Decided: April 22, 2008. VerDate Aug<31>2005 17:09 Apr 29, 2008 Jkt 214001 By the Board, David M. Konschnik, Director, Office of Proceedings. Anne K. Quinlan, Acting Secretary. [FR Doc. E8–9072 Filed 4–29–08; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and Reference Prices for Calendar Year 2008 Internal Revenue Service (IRS), Treasury. ACTION: Publication of inflation adjustment factors and reference prices for calendar year 2008 as required by section 45(e)(2)(A) of the Internal Revenue Code (26 U.S.C. 45(e)(2)(A)), section 45(e)(8)(C) (26 U.S.C. 45(e)(8)(C)), and section 45(e)(10)(C) (26 U.S.C. 45(e)(10)(C)). AGENCY: SUMMARY: The 2008 inflation adjustment factors and reference prices are used in determining the availability of the credit for renewable electricity production, refined coal production, and Indian coal production under section 45. DATES: The 2008 inflation adjustment factors and reference prices apply to calendar year 2008 sales of kilowatt hours of electricity produced in the United States or a possession thereof from qualified energy resources, and to 2008 sales of refined coal and Indian coal produced in the United States or a possession thereof. Inflation Adjustment Factors: The inflation adjustment factor for calendar year 2008 for qualified energy resources and refined coal is 1.3854. The inflation adjustment factor for Indian coal is 1.0591. Reference Prices: The reference price for calendar year 2008 for facilities producing electricity from wind is 3.60 cents per kilowatt hour. The reference prices for fuel used as feedstock within the meaning of section 45(c)(7)(A) (relating to refined coal production) are $31.90 per ton for calendar year 2002 and $45.56 per ton for calendar year 2008. The reference prices for facilities producing electricity from closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small irrigation power, municipal solid waste, and qualified hydropower production have not been determined for calendar year 2008. The IRS is exploring methods of PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 23525 determining those reference prices for calendar year 2009. Because the 2008 reference price for electricity produced from wind does not exceed 8 cents multiplied by the inflation adjustment factor, the phaseout of the credit provided in section 45(b)(1) does not apply to such electricity sold during calendar year 2008. Because the 2008 reference price of fuel used as feedstock for refined coal does not exceed the $31.90 reference price of such fuel in 2002 multiplied by the inflation adjustment factor and 1.7, the phaseout of credit provided in section 45(e)(8)(B) does not apply to refined coal sold during calendar year 2008. Further, for electricity produced from closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small irrigation power, municipal solid waste, and qualified hydropower production, the phaseout of credit provided in section 45(b)(1) does not apply to such electricity sold during calendar year 2008. Credit Amount by Qualified Energy Resource and Facility, Refined Coal, and Indian Coal: As required by section 45(b)(2), the 1.5-cent amount in section 45(a)(1), the 8-cent amount in section 45(b)(1), and the $4.375 amount in section 45(e)(8)(A) are each adjusted by multiplying such amount by the inflation adjustment factor 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 is rounded to the nearest multiple of 0.1 cent. In the case of electricity produced in open-loop biomass facilities, small irrigation power facilities, landfill gas facilities, trash combustion facilities, and qualified hydropower facilities, section 45(b)(4)(A) requires the amount in effect under section 45(a)(1) (before rounding to the nearest 0.1 cent) to be reduced by one-half. Under the calculation required by section 45(b)(2), the credit for renewable electricity production for calendar year 2008 under section 45(a) is 2.1 cents per kilowatt hour on the sale of electricity produced from the qualified energy resources of wind, closed-loop biomass, geothermal energy, and solar energy, and 1.0 cent per kilowatt hour on the sale of electricity produced in open-loop biomass facilities, small irrigation power facilities, landfill gas facilities, trash combustion facilities, and qualified hydropower facilities. Under the calculation required by section 45(b)(2), the credit for refined coal production for calendar year 2008 under section 45(e)(8)(A) is $6.061 per ton on the sale of qualified refined coal. The credit for Indian coal production for calendar year E:\FR\FM\30APN1.SGM 30APN1 23526 Federal Register / Vol. 73, No. 84 / Wednesday, April 30, 2008 / Notices 2008 under section 45(e)(10)(B) is $1.589 per ton on the sale of Indian coal. FOR FURTHER INFORMATION CONTACT: Philip Tiegerman, IRS, CC:PSI:6, 1111 Constitution Ave., NW., Washington, DC 20224, (202) 622–3110 (not a tollfree call). William O’Shea, Associate Chief Counsel, (Passthroughs & Special Industries). [FR Doc. E8–9501 Filed 4–29–08; 8:45 am] rwilkins on PROD1PC63 with NOTICES BILLING CODE 4830–01–P VerDate Aug<31>2005 17:09 Apr 29, 2008 Jkt 214001 PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 E:\FR\FM\30APN1.SGM 30APN1

Agencies

[Federal Register Volume 73, Number 84 (Wednesday, April 30, 2008)]
[Notices]
[Pages 23525-23526]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-9501]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Credit for Renewable Electricity Production, Refined Coal 
Production, and Indian Coal Production, and Publication of Inflation 
Adjustment Factors and Reference Prices for Calendar Year 2008

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Publication of inflation adjustment factors and reference 
prices for calendar year 2008 as required by section 45(e)(2)(A) of the 
Internal Revenue Code (26 U.S.C. 45(e)(2)(A)), section 45(e)(8)(C) (26 
U.S.C. 45(e)(8)(C)), and section 45(e)(10)(C) (26 U.S.C. 45(e)(10)(C)).

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SUMMARY: The 2008 inflation adjustment factors and reference prices are 
used in determining the availability of the credit for renewable 
electricity production, refined coal production, and Indian coal 
production under section 45.

DATES: The 2008 inflation adjustment factors and reference prices apply 
to calendar year 2008 sales of kilowatt hours of electricity produced 
in the United States or a possession thereof from qualified energy 
resources, and to 2008 sales of refined coal and Indian coal produced 
in the United States or a possession thereof.
    Inflation Adjustment Factors: The inflation adjustment factor for 
calendar year 2008 for qualified energy resources and refined coal is 
1.3854. The inflation adjustment factor for Indian coal is 1.0591.
    Reference Prices: The reference price for calendar year 2008 for 
facilities producing electricity from wind is 3.60 cents per kilowatt 
hour. The reference prices for fuel used as feedstock within the 
meaning of section 45(c)(7)(A) (relating to refined coal production) 
are $31.90 per ton for calendar year 2002 and $45.56 per ton for 
calendar year 2008. The reference prices for facilities producing 
electricity from closed-loop biomass, open-loop biomass, geothermal 
energy, solar energy, small irrigation power, municipal solid waste, 
and qualified hydropower production have not been determined for 
calendar year 2008. The IRS is exploring methods of determining those 
reference prices for calendar year 2009.
    Because the 2008 reference price for electricity produced from wind 
does not exceed 8 cents multiplied by the inflation adjustment factor, 
the phaseout of the credit provided in section 45(b)(1) does not apply 
to such electricity sold during calendar year 2008. Because the 2008 
reference price of fuel used as feedstock for refined coal does not 
exceed the $31.90 reference price of such fuel in 2002 multiplied by 
the inflation adjustment factor and 1.7, the phaseout of credit 
provided in section 45(e)(8)(B) does not apply to refined coal sold 
during calendar year 2008. Further, for electricity produced from 
closed-loop biomass, open-loop biomass, geothermal energy, solar 
energy, small irrigation power, municipal solid waste, and qualified 
hydropower production, the phaseout of credit provided in section 
45(b)(1) does not apply to such electricity sold during calendar year 
2008.
    Credit Amount by Qualified Energy Resource and Facility, Refined 
Coal, and Indian Coal: As required by section 45(b)(2), the 1.5-cent 
amount in section 45(a)(1), the 8-cent amount in section 45(b)(1), and 
the $4.375 amount in section 45(e)(8)(A) are each adjusted by 
multiplying such amount by the inflation adjustment factor 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 
is rounded to the nearest multiple of 0.1 cent. In the case of 
electricity produced in open-loop biomass facilities, small irrigation 
power facilities, landfill gas facilities, trash combustion facilities, 
and qualified hydropower facilities, section 45(b)(4)(A) requires the 
amount in effect under section 45(a)(1) (before rounding to the nearest 
0.1 cent) to be reduced by one-half. Under the calculation required by 
section 45(b)(2), the credit for renewable electricity production for 
calendar year 2008 under section 45(a) is 2.1 cents per kilowatt hour 
on the sale of electricity produced from the qualified energy resources 
of wind, closed-loop biomass, geothermal energy, and solar energy, and 
1.0 cent per kilowatt hour on the sale of electricity produced in open-
loop biomass facilities, small irrigation power facilities, landfill 
gas facilities, trash combustion facilities, and qualified hydropower 
facilities. Under the calculation required by section 45(b)(2), the 
credit for refined coal production for calendar year 2008 under section 
45(e)(8)(A) is $6.061 per ton on the sale of qualified refined coal. 
The credit for Indian coal production for calendar year

[[Page 23526]]

2008 under section 45(e)(10)(B) is $1.589 per ton on the sale of Indian 
coal.

FOR FURTHER INFORMATION CONTACT: Philip Tiegerman, IRS, CC:PSI:6, 1111 
Constitution Ave., NW., Washington, DC 20224, (202) 622-3110 (not a 
toll-free call).

William O'Shea,
Associate Chief Counsel, (Passthroughs & Special Industries).
[FR Doc. E8-9501 Filed 4-29-08; 8:45 am]
BILLING CODE 4830-01-P
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