§45K. Credit for producing fuel from a nonconventional source — Inbound Citations
26 U.S.C. § 45K
Cited by 18 provisions in release 119-102.
Citations to 26 U.S.C. § 45K as a whole
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(A) The term “qualified facility” shall not include any facility which produces electricity from gas derived from the biodegradation of municipal solid waste if such biodegradation occurred in a facility (within the meaning of section 45K) the production from which is allowed as a credit under section 45K for the taxable year or any prior taxable year.
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(i) The term “refined coal production facility” shall not include any facility the production from which is allowed as a credit under section 45K for the taxable year or any prior taxable year (or under section 29,3 as in effect on the day before the date of enactment of the Energy Tax Incentives Act of 2005, for any prior taxable year).
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(3) In the case of production from a qualified marginal well which is eligible for the credit allowed under section 45K for the taxable year, no credit shall be allowable under this section unless the taxpayer elects not to claim the credit under section 45K with respect to the well.
Citations to §45K(a)
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(22) the nonconventional source production credit determined under section 45K(a),
Citations to §45K(c)
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(d) For purposes of this section, the term “qualified refinery” means any refinery located in the United States which is designed to serve the primary purpose of processing liquid fuel from crude oil or qualified fuels (as defined in section 45K(c)), or directly from shale or tar sands.
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(2) enables the existing qualified refinery to process shale, tar sands, or qualified fuels (as defined in section 45K(c)) at a rate which is equal to or greater than 25 percent of the total throughput of such qualified refinery on an average daily basis.
Citations to §45K(c)(3)
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(3) The term “renewable diesel” means liquid fuel derived from biomass which meets—(A) the registration requirements for fuels and fuel additives established by the Environmental Protection Agency under section 211 of the Clean Air Act (42 U.S.C. 7545), and(B) the requirements of the American Society of Testing and Materials D975 or D396, or other equivalent standard approved by the Secretary.Such term shall not include any liquid with respect to which a credit may be determined under section 40. Such term does not include any fuel derived from coprocessing biomass with a feedstock which is not biomass. For purposes of this paragraph, the term “biomass” has the meaning given such term by section 45K(c)(3).
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(B) The term “biomass” has the same meaning given such term in section 45K(c)(3).
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(ii) The term “biomass” has the same meaning given such term in section 45K(c)(3).
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(i) converts biomass (as defined in section 45K(c)(3), as in effect on the date of enactment of this paragraph) into a gas which—(I) consists of not less than 52 percent methane by volume, or(II) is concentrated by such system into a gas which consists of not less than 52 percent methane, and
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(iii) in the case of any liquid fuel (other than ethanol and methanol) derived from coal (including peat) and liquid hydrocarbons derived from biomass (as defined in section 45K(c)(3)), 24.3 cents per gallon, and
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(E) compressed or liquefied gas derived from biomass (as defined in section 45K(c)(3)), and
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(F) liquid fuel derived from biomass (as defined in section 45K(c)(3)).
Citations to §45K(d)(2)(B)
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(2) The amount of the payment made to any person under this section as provided in paragraph (1) shall be adjusted for inflation for each fiscal year beginning after calendar year 2005 in the same manner as provided in the provisions of section 45K(d)(2)(B) of title 26, except that in applying such provisions the calendar year 2005 shall be substituted for calendar year 1979.
Citations to §45K(d)(2)(C)
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(2) For purposes of this subsection, the term “reference price” means, with respect to any calendar year, the reference price determined for such calendar year under section 45K(d)(2)(C).
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(i) in the case of qualified crude oil production, the reference price determined under section 45K(d)(2)(C), and
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(C) For purposes of subparagraph (A), the term “applicable percentage” means the percentage (not greater than 25 percent) equal to the sum of—(i) 15 percent, plus(ii) 1 percentage point for each whole dollar by which $20 exceeds the reference price for crude oil for the calendar year preceding the calendar year in which the taxable year begins.For purposes of this paragraph, the term “reference price” means, with respect to any calendar year, the reference price determined for such calendar year under section 45K(d)(2)(C).
Citations to §45K(d)(5)
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(A) Crude oil or natural gas produced during any taxable year from any well shall not be treated as qualified crude oil production or qualified natural gas production to the extent production from the well during the taxable year exceeds 1,095 barrels or barrel-of-oil equivalents (as defined in section 45K(d)(5)).