Section 1 Extension and improvement of Indian coal production tax credit
Repeal of limitation based on date facility is placed in service— Section 45(d) of the Internal Revenue Code of 1986 is amended to read as follows:
“(10) Indian coal production facility—The term “Indian coal production facility” means a facility that produces Indian coal.”
Repeal of limitation on period during which coal must be produced and sold; treatment of sales to related parties— Section 45(e)(10)(A) of such Code is amended by striking “per ton of Indian coal—” and all that follows and inserting the following:
“(i) produced by the taxpayer at an Indian coal production facility, and
“(ii) sold (either directly by the taxpayer or after sale or transfer to one or more related persons) to an unrelated person.”
Repeal of limitation on treatment as a specified credit—
In general— Section 38(c)(4)(B) of such Code is amended by redesignating clauses (iv) through (ix) as clauses (v) through (x), respectively, and by inserting after clause (iii) the following new clause:
“(iv) the credit determined under section 45 to the extent that such credit is attributable to section 45(e)(10) (relating to Indian coal production facilities),”
Conforming amendment— Section 45(e)(10) of such Code is amended by striking subparagraph (D).
Effective date— The amendments made by this section shall apply to coal produced and sold after the date of the enactment of this Act, in taxable years ending after such date.