Credit for Renewable Electricity Production and Refined Coal Production, and Publication of Inflation Adjustment Factor and Reference Prices for Calendar Year 2018, 17474 [2018-08201]
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17474
Federal Register / Vol. 83, No. 76 / Thursday, April 19, 2018 / Notices
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: April 10, 2018.
R. Joseph Durbala,
IRS, Tax Analyst.
[FR Doc. 2018–08146 Filed 4–18–18; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Credit for Renewable Electricity
Production and Refined Coal
Production, and Publication of Inflation
Adjustment Factor and Reference
Prices for Calendar Year 2018
Internal Revenue Service (IRS),
Treasury.
ACTION: Publication of inflation
adjustment factor and reference prices
for calendar year 2018.
AGENCY:
The 2018 inflation adjustment
factor and reference prices are used in
determining the availability of the credit
for renewable electricity production and
refined coal production under section
45.
DATES: The 2018 inflation adjustment
factor and reference prices apply to
calendar year 2018 sales of kilowatt
hours of electricity produced in the
United States or a possession thereof
from qualified energy resources and to
2018 sales of refined coal produced in
the United States or a possession
thereof.
FOR FURTHER INFORMATION CONTACT:
Martha M. Garcia, CC:PSI:6, Internal
Revenue Service, 1111 Constitution
Avenue NW, Washington, DC 20224,
(202) 317–6853 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Publication of the inflation adjustment
factor and reference prices is required
by sections 45(e)(2)(A) (26 U.S.C.
45(e)(2)(A)) and 45(e)(8)(C) (26 U.S.C.
45(e)(8)(C)) of the Internal Revenue
Code.
Inflation Adjustment Factor: The
inflation adjustment factor for calendar
year 2018 for qualified energy resources
and refined coal is 1.6072.
Reference Prices: The reference price
for calendar year 2018 for facilities
producing electricity from wind is 4.85
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 $49.69 per ton for calendar year
2018. The reference prices for facilities
daltland on DSKBBV9HB2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
17:49 Apr 18, 2018
Jkt 244001
producing electricity from closed-loop
biomass, open-loop biomass, geothermal
energy, small irrigation power,
municipal solid waste, qualified
hydropower production, and marine
and hydrokinetic renewable energy have
not been determined for calendar year
2018.
Phaseout Calculation: Because the
2018 reference price for electricity
produced from wind (4.85 cents per
kilowatt hour) does not exceed 8 cents
multiplied by the inflation adjustment
factor (1.6072), the phaseout of the
credit provided in section 45(b)(1) does
not apply to such electricity sold during
calendar year 2018. Because the 2018
reference price of fuel used as feedstock
for refined coal ($49.69) does not exceed
$87.16 (which is the $31.90 reference
price of such fuel in 2002 multiplied by
the inflation adjustment factor (1.6072)
and 1.7), the phaseout of the credit
provided in section 45(e)(8)(B) does not
apply to refined coal sold during
calendar year 2018. Further, for
electricity produced from closed-loop
biomass, open-loop biomass, geothermal
energy, small irrigation power,
municipal solid waste, qualified
hydropower production, and marine
and hydrokinetic renewable energy, the
phaseout of the credit provided in
section 45(b)(1) does not apply to such
electricity sold during calendar year
2018.
Credit Amount by Qualified Energy
Resource and Facility and Refined Coal:
As required by section 45(b)(2), the 1.5
cent amount in section 45(a)(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 facilities, qualified
hydropower facilities, and marine and
hydrokinetic renewable energy
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
2018 under section 45(a) is 2.4 cents per
kilowatt hour on the sale of electricity
produced from the qualified energy
resources of wind, closed-loop biomass,
geothermal energy, and 1.2 cents per
kilowatt hour on the sale of electricity
produced in open-loop biomass
facilities, small irrigation power
PO 00000
Frm 00116
Fmt 4703
Sfmt 4703
facilities, landfill gas facilities, trash
facilities, qualified hydropower
facilities, and marine and hydrokinetic
renewable energy facilities. Under the
calculation required by section 45(b)(2),
the credit for refined coal production for
calendar year 2018 under section
45(e)(8)(A) is $7.03 per ton on the sale
of qualified refined coal.
Christopher T. Kelley,
Special Counsel, Passthroughs and Special
Industries.
[FR Doc. 2018–08201 Filed 4–18–18; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF VETERANS
AFFAIRS
Advisory Committee on Disability
Compensation, Notice of Meeting
The Department of Veterans Affairs
(VA) gives notice under the Federal
Advisory Committee Act that the
Advisory Committee on Disability
Compensation (Committee) will meet on
May 22–23, 2018. The Committee will
meet at 1800 G Street NW, Washington,
DC 20006. The meeting will be held on
the Fourth Floor in Conference Room
420–H. The meetings are open to the
public.
The purpose of the Committee is to
advise the Secretary of Veterans Affairs
on the maintenance and periodic
readjustment of the VA Schedule for
Rating Disabilities. The Committee is to
assemble and review relevant
information relating to the nature and
character of disabilities arising during
service in the Armed Forces, provide an
ongoing assessment of the effectiveness
of the rating schedule, and give advice
on the most appropriate means of
responding to the needs of Veterans
relating to disability compensation.
On May 22, 2018, the sessions will
begin at 7:30 a.m. and end at 3:00 p.m.
EST. On May 23, 2018 the sessions will
begin at 7:30 a.m. and end at 4:30 p.m.
EST. On both days, the Committee will
receive briefings on issues related to
compensation for Veterans with serviceconnected disabilities and on other VA
benefits programs. Time will be
allocated for receiving public
comments. Public comments will be
limited to three minutes each.
Individuals wishing to make oral
statements before the Committee will be
accommodated on a first-come, firstserved basis. Individuals who speak are
invited to submit 1–2 page summaries of
their comments at the time of the
meeting for inclusion in the official
meeting record.
E:\FR\FM\19APN1.SGM
19APN1
]]>Agencies
[Federal Register Volume 83, Number 76 (Thursday, April 19, 2018)]
[Notices]
[Page 17474]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-08201]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Credit for Renewable Electricity Production and Refined Coal
Production, and Publication of Inflation Adjustment Factor and
Reference Prices for Calendar Year 2018
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Publication of inflation adjustment factor and reference prices
for calendar year 2018.
-----------------------------------------------------------------------
SUMMARY: The 2018 inflation adjustment factor and reference prices are
used in determining the availability of the credit for renewable
electricity production and refined coal production under section 45.
DATES: The 2018 inflation adjustment factor and reference prices apply
to calendar year 2018 sales of kilowatt hours of electricity produced
in the United States or a possession thereof from qualified energy
resources and to 2018 sales of refined coal produced in the United
States or a possession thereof.
FOR FURTHER INFORMATION CONTACT: Martha M. Garcia, CC:PSI:6, Internal
Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224,
(202) 317-6853 (not a toll-free number).
SUPPLEMENTARY INFORMATION: Publication of the inflation adjustment
factor and reference prices is required by sections 45(e)(2)(A) (26
U.S.C. 45(e)(2)(A)) and 45(e)(8)(C) (26 U.S.C. 45(e)(8)(C)) of the
Internal Revenue Code.
Inflation Adjustment Factor: The inflation adjustment factor for
calendar year 2018 for qualified energy resources and refined coal is
1.6072.
Reference Prices: The reference price for calendar year 2018 for
facilities producing electricity from wind is 4.85 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 $49.69 per ton for
calendar year 2018. The reference prices for facilities producing
electricity from closed-loop biomass, open-loop biomass, geothermal
energy, small irrigation power, municipal solid waste, qualified
hydropower production, and marine and hydrokinetic renewable energy
have not been determined for calendar year 2018.
Phaseout Calculation: Because the 2018 reference price for
electricity produced from wind (4.85 cents per kilowatt hour) does not
exceed 8 cents multiplied by the inflation adjustment factor (1.6072),
the phaseout of the credit provided in section 45(b)(1) does not apply
to such electricity sold during calendar year 2018. Because the 2018
reference price of fuel used as feedstock for refined coal ($49.69)
does not exceed $87.16 (which is the $31.90 reference price of such
fuel in 2002 multiplied by the inflation adjustment factor (1.6072) and
1.7), the phaseout of the credit provided in section 45(e)(8)(B) does
not apply to refined coal sold during calendar year 2018. Further, for
electricity produced from closed-loop biomass, open-loop biomass,
geothermal energy, small irrigation power, municipal solid waste,
qualified hydropower production, and marine and hydrokinetic renewable
energy, the phaseout of the credit provided in section 45(b)(1) does
not apply to such electricity sold during calendar year 2018.
Credit Amount by Qualified Energy Resource and Facility and Refined
Coal: As required by section 45(b)(2), the 1.5 cent amount in section
45(a)(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 facilities,
qualified hydropower facilities, and marine and hydrokinetic renewable
energy 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 2018 under section 45(a) is 2.4 cents per kilowatt hour on the
sale of electricity produced from the qualified energy resources of
wind, closed-loop biomass, geothermal energy, and 1.2 cents per
kilowatt hour on the sale of electricity produced in open-loop biomass
facilities, small irrigation power facilities, landfill gas facilities,
trash facilities, qualified hydropower facilities, and marine and
hydrokinetic renewable energy facilities. Under the calculation
required by section 45(b)(2), the credit for refined coal production
for calendar year 2018 under section 45(e)(8)(A) is $7.03 per ton on
the sale of qualified refined coal.
Christopher T. Kelley,
Special Counsel, Passthroughs and Special Industries.
[FR Doc. 2018-08201 Filed 4-18-18; 8:45 am]
BILLING CODE 4830-01-P
