Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and Reference Prices for Calendar Year 2010, 16576 [2010-7263]

Download as PDF 16576 Federal Register / Vol. 75, No. 62 / Thursday, April 1, 2010 / Notices Officer, President’s Economic Recovery Advisory Board, Office of the Under Secretary for Domestic Finance, Department of the Treasury, Main Department Building, 1500 Pennsylvania Avenue, NW., Washington, DC 20220, at (202) 622– 2000. In accordance with Section 10(a) of the Federal Advisory Committee Act, 5 U.S.C. App. II, § 10(a), and the regulations thereunder, Emanuel Pleitez, Designated Federal Officer of the Advisory Board, has ordered publication of this notice that the PERAB will convene its next meeting on April 16, 2010, in the White House Roosevelt Room, 1600 Pennsylvania Avenue, NW., Washington, DC, beginning at 1:30 p.m. Eastern Time. The meeting will be broadcast on the Internet via live Webcast at http:// www.whitehouse.gov/live. The purpose of this meeting is to continue discussion of the issues impacting the strength and competitiveness of the Nation’s economy. The discussion will include an update on the research and preparatory work conducted in the PERAB subcommittees and recommendations to the President. The PERAB will provide information and ideas obtained from across the country to promote exports, the growth of the American economy, establish a stable and sound financial and banking system, create jobs, and improve the long-term prosperity of the American people. SUPPLEMENTARY INFORMATION: Dated: March 29, 2010. Alastair Fitzpayne, Acting Executive Secretary, Deputy Chief of Staff. [FR Doc. 2010–7502 Filed 3–30–10; 4:15 pm] BILLING CODE 4810–25–P DEPARTMENT OF THE TREASURY Internal Revenue Service mstockstill on DSKH9S0YB1PROD with NOTICES Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and Reference Prices for Calendar Year 2010 AGENCY: Internal Revenue Service (IRS), Treasury. Publication of inflation adjustment factors and reference prices for calendar year 2010 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. ACTION: VerDate Nov<24>2008 16:51 Mar 31, 2010 Jkt 220001 45(e)(8)(C)), and section 45(e)(10)(C) (26 U.S.C. 45(e)(10)(C)). SUMMARY: The 2010 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 2010 inflation adjustment factors and reference prices apply to calendar year 2010 sales of kilowatt hours of electricity produced in the United States or a possession thereof from qualified energy resources, and to 2010 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 2010 for qualified energy resources and refined coal is 1.4342. The inflation adjustment factor for Indian coal is 1.0976. Reference Prices: The reference price for calendar year 2010 for facilities producing electricity from wind is 4.22 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 $54.74 per ton for calendar year 2010. The reference prices for facilities producing electricity from closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small irrigation power, municipal solid waste, qualified hydropower production, marine and hydrokinetic renewable energy have not been determined for calendar year 2010. Because the 2010 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 2010. Because the 2010 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 2010. Further, for electricity produced from closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small irrigation power, municipal solid waste, qualified hydropower production, marine and hydrokinetic renewable energy, the phaseout of credit provided in section 45(b)(1) does not apply to such electricity sold during calendar year 2010. Credit Amount by Qualified Energy Resource and Facility, Refined Coal, PO 00000 Frm 00155 Fmt 4703 Sfmt 9990 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) and the $2.00 amount in section 45(e)(8)(D), 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 2010 under section 45(a) is 2.15 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 1.1 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, qualified hydropower facilities, marine and hydrokinetic renewable energy facilities. Under the calculation required by section 45(b)(2), the credit for refined coal production for calendar year 2010 under section 45(e)(8)(A) is $6.27 per ton on the sale of qualified refined coal. The credit for steel industry fuel is $2.87 per barrel-of-oil equivalent of steel industry fuel sold. The credit for Indian coal production for calendar year 2010 under section 45(e)(10)(B) is $2.2 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). Dated: March 25, 2010. Christopher T. Kelley, Special Counsel (Passthroughs & Special Industries). [FR Doc. 2010–7263 Filed 3–31–10; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\01APN1.SGM 01APN1

Agencies

[Federal Register Volume 75, Number 62 (Thursday, April 1, 2010)]
[Notices]
[Page 16576]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-7263]


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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 2010

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Publication of inflation adjustment factors and reference 
prices for calendar year 2010 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 2010 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 2010 inflation adjustment factors and reference prices apply 
to calendar year 2010 sales of kilowatt hours of electricity produced 
in the United States or a possession thereof from qualified energy 
resources, and to 2010 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 2010 for qualified energy resources and refined coal is 
1.4342. The inflation adjustment factor for Indian coal is 1.0976.
    Reference Prices: The reference price for calendar year 2010 for 
facilities producing electricity from wind is 4.22 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 $54.74 per ton for 
calendar year 2010. The reference prices for facilities producing 
electricity from closed-loop biomass, open-loop biomass, geothermal 
energy, solar energy, small irrigation power, municipal solid waste, 
qualified hydropower production, marine and hydrokinetic renewable 
energy have not been determined for calendar year 2010.
    Because the 2010 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 2010. Because the 2010 
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 2010. Further, for electricity produced from 
closed-loop biomass, open-loop biomass, geothermal energy, solar 
energy, small irrigation power, municipal solid waste, qualified 
hydropower production, marine and hydrokinetic renewable energy, the 
phaseout of credit provided in section 45(b)(1) does not apply to such 
electricity sold during calendar year 2010.
    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) and the $2.00 amount in 
section 45(e)(8)(D), 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 2010 
under section 45(a) is 2.15 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 1.1 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, qualified hydropower 
facilities, marine and hydrokinetic renewable energy facilities. Under 
the calculation required by section 45(b)(2), the credit for refined 
coal production for calendar year 2010 under section 45(e)(8)(A) is 
$6.27 per ton on the sale of qualified refined coal. The credit for 
steel industry fuel is $2.87 per barrel-of-oil equivalent of steel 
industry fuel sold. The credit for Indian coal production for calendar 
year 2010 under section 45(e)(10)(B) is $2.2 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).

    Dated: March 25, 2010.
Christopher T. Kelley,
Special Counsel (Passthroughs & Special Industries).
[FR Doc. 2010-7263 Filed 3-31-10; 8:45 am]
BILLING CODE 4830-01-P