§45V. Credit for production of clean hydrogen — Inbound Citations
26 U.S.C. § 45V
Cited by 11 provisions in release 119-102.
Citations to 26 U.S.C. § 45V as a whole
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(B) No credit shall be allowed under section 45V or section 45Q for any taxable year with respect to any specified clean hydrogen production facility or any carbon capture equipment included at such facility.
Citations to §45V(a)
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(36) the clean hydrogen production credit determined under section 45V(a),
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(5) So much of the credit for production of clean hydrogen determined under section 45V(a) as is attributable to qualified clean hydrogen production facilities which are originally placed in service after December 31, 2012.
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(v) The clean hydrogen production credit determined under section 45V(a).
Citations to §45V(b)(2)(A)
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(I) in the case of a facility which is designed and reasonably expected to produce qualified clean hydrogen which is described in a subparagraph (A) of section 45V(b)(2), 1.2 percent,
Citations to §45V(c)(2)
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(A) such electricity is used during such taxable year by the taxpayer or a person related to the taxpayer at a qualified clean hydrogen production facility (as defined in section 45V(c)(3)) to produce qualified clean hydrogen (as defined in section 45V(c)(2)), and
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(D) For purposes of this paragraph, the term “qualified clean hydrogen” has the meaning given such term by section 45V(c)(2).
Citations to §45V(c)(3)
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(A) such electricity is used during such taxable year by the taxpayer or a person related to the taxpayer at a qualified clean hydrogen production facility (as defined in section 45V(c)(3)) to produce qualified clean hydrogen (as defined in section 45V(c)(2)), and
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(C) For purposes of this paragraph, the term “specified clean hydrogen production facility” means any qualified clean hydrogen production facility (as defined in section 45V(c)(3))—(i) which is placed in service after December 31, 2022,(ii) with respect to which—(II) the taxpayer makes an irrevocable election to have this paragraph apply, and(iii) for which an unrelated third party has verified (in such form or manner as the Secretary may prescribe) that such facility produces hydrogen through a process which results in lifecycle greenhouse gas emissions which are consistent with the hydrogen that such facility was designed and expected to produce under subparagraph (A)(ii).
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(B) If a taxpayer other than an entity described in subparagraph (A) makes an election under this subparagraph with respect to any taxable year in which such taxpayer has placed in service a qualified clean hydrogen production facility (as defined in section 45V(c)(3)), such taxpayer shall be treated as an applicable entity for purposes of this section for such taxable year, but only with respect to the credit described in subsection (b)(5).