82 FR 17740 - Credit for Renewable Electricity Production and Refined Coal Production, and Publication of Inflation Adjustment Factor and Reference Prices for Calendar Year 2017
DEPARTMENT OF THE TREASURY
Internal Revenue Service Federal Register Volume 82, Issue 69 (April 12, 2017)
Internal Revenue Service
Federal Register Volume 82, Issue 69 (April 12, 2017)
| Page Range | 17740-17740 | |
| FR Document | 2017-07493 |
[Federal Register Volume 82, Number 69 (Wednesday, April 12, 2017)] [Notices] [Page 17740] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-07493] ----------------------------------------------------------------------- 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 2017 AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Publication of inflation adjustment factor and reference prices for calendar year 2017. ----------------------------------------------------------------------- SUMMARY: The 2017 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. For calendar year 2017, the credit period for Indian coal production has expired. DATES: The 2017 inflation adjustment factor and reference prices apply to calendar year 2017 sales of kilowatt hours of electricity produced in the United States or a possession thereof from qualified energy resources and to 2017 sales of refined coal produced in the United States or a possession thereof. FOR FURTHER INFORMATION CONTACT: Jennifer A. Records, CC:PSI:6, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224, (202) 317-6853 (not a toll-free number). SUPPLEMENTARY INFORMATION: Inflation adjustment factor and reference prices for calendar year 2017 as 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 2017 for qualified energy resources and refined coal is 1.5792. Reference Prices: The reference price for calendar year 2017 for facilities producing electricity from wind is 4.55 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 $51.09 per ton for calendar year 2017. 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 2017. Phaseout Calculation: Because the 2017 reference price for electricity produced from wind (4.55 cents per kilowatt hour) does not exceed 8 cents multiplied by the inflation adjustment factor (1.5792), the phaseout of the credit provided in section 45(b)(1) does not apply to such electricity sold during calendar year 2017. Because the 2017 reference price of fuel used as feedstock for refined coal ($51.09) does not exceed $85.64 (which is the $31.90 reference price of such fuel in 2002 multiplied by the inflation adjustment factor (1.5792) 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 2017. 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 2017. 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 2017 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 2017 under section 45(e)(8)(A) is $6.909 per ton on the sale of qualified refined coal. Christopher T. Kelley, Acting Deputy Associate Chief Counsel (Passthroughs and Special Industries). [FR Doc. 2017-07493 Filed 4-11-17; 8:45 am] BILLING CODE 4830-01-P
![17740 Federal Register / Vol. 82, No. 69 / Wednesday, April 12, 2017 / Notices
of Foreign Assets Control, or Chief Avenue NW., Washington, DC 20224, under the preceding sentence is not a
Counsel (Foreign Assets Control), tel.: (202) 317–6853 (not a toll-free number). multiple of 0.1 cent, such amount is
202/622–2410, Office of the General SUPPLEMENTARY INFORMATION: Inflation rounded to the nearest multiple of 0.1
Counsel, Department of the Treasury. adjustment factor and reference prices cent. In the case of electricity produced
SUPPLEMENTARY INFORMATION: for calendar year 2017 as required by in open-loop biomass facilities, small
sections 45(e)(2)(A) (26 U.S.C. irrigation power facilities, landfill gas
Electronic Availability facilities, trash facilities, qualified
45(e)(2)(A)) and 45(e)(8)(C) (26 U.S.C.
The SDN List and additional 45(e)(8)(C)) of the Internal Revenue hydropower facilities, and marine and
information concerning OFAC sanctions Code. hydrokinetic renewable energy
programs are available from OFAC’s Inflation Adjustment Factor: The facilities, section 45(b)(4)(A) requires
Web site (www.treas.gov/ofac). inflation adjustment factor for calendar the amount in effect under section
year 2017 for qualified energy resources 45(a)(1) (before rounding to the nearest
Notice of OFAC Actions 0.1 cent) to be reduced by one-half.
and refined coal is 1.5792.
On April 7, 2017, OFAC removed Reference Prices: The reference price Under the calculation required by
from the SDN List the individual listed for calendar year 2017 for facilities section 45(b)(2), the credit for renewable
below, whose property and interests in producing electricity from wind is 4.55 electricity production for calendar year
property were blocked pursuant to the cents per kilowatt hour. The reference 2017 under section 45(a) is 2.4 cents per
Kingpin Act: prices for fuel used as feedstock within kilowatt hour on the sale of electricity
1. SALAZAR UMANA, Jose Adan (a.k.a. the meaning of section 45(c)(7)(A) produced from the qualified energy
‘‘CHEPE DIABLO’’), Metapan, Santa Ana, El (relating to refined coal production) are resources of wind, closed-loop biomass,
Salvador; DOB 16 Jun 1948; POB Metapan, El $31.90 per ton for calendar year 2002 geothermal energy, and 1.2 cents per
Salvador; nationality El Salvador; citizen El and $51.09 per ton for calendar year kilowatt hour on the sale of electricity
Salvador; National ID No. 02071606480022 2017. The reference prices for facilities produced in open-loop biomass
(El Salvador) (individual) [SDNTK] producing electricity from closed-loop facilities, small irrigation power
Dated: April 7, 2017. biomass, open-loop biomass, geothermal facilities, landfill gas facilities, trash
Andrea Gacki, energy, small irrigation power, facilities, qualified hydropower
Acting Director, Office of Foreign Assets municipal solid waste, qualified facilities, and marine and hydrokinetic
Control. hydropower production, and marine renewable energy facilities. Under the
[FR Doc. 2017–07373 Filed 4–11–17; 8:45 am] and hydrokinetic renewable energy have calculation required by section 45(b)(2),
BILLING CODE 4810–AL–P not been determined for calendar year the credit for refined coal production for
2017. calendar year 2017 under section
Phaseout Calculation: Because the 45(e)(8)(A) is $6.909 per ton on the sale
DEPARTMENT OF THE TREASURY 2017 reference price for electricity of qualified refined coal.
produced from wind (4.55 cents per Christopher T. Kelley,
Internal Revenue Service kilowatt hour) does not exceed 8 cents Acting Deputy Associate Chief Counsel
multiplied by the inflation adjustment (Passthroughs and Special Industries).
Credit for Renewable Electricity factor (1.5792), the phaseout of the
Production and Refined Coal [FR Doc. 2017–07493 Filed 4–11–17; 8:45 am]
credit provided in section 45(b)(1) does
Production, and Publication of Inflation not apply to such electricity sold during
BILLING CODE 4830–01–P
Adjustment Factor and Reference calendar year 2017. Because the 2017
Prices for Calendar Year 2017 reference price of fuel used as feedstock
AGENCY: Internal Revenue Service (IRS), for refined coal ($51.09) does not exceed VETERANS AFFAIRS DEPARTMENT
Treasury. $85.64 (which is the $31.90 reference
price of such fuel in 2002 multiplied by [OMB Control No. 2900–0222]
ACTION: Publication of inflation
the inflation adjustment factor (1.5792)
adjustment factor and reference prices Agency Information Collection
and 1.7), the phaseout of the credit
for calendar year 2017. Activity: Proposed Information
provided in section 45(e)(8)(B) does not
Collection, Claim for Standard
SUMMARY: The 2017 inflation adjustment apply to refined coal sold during
Government Headstone or Marker and
factor and reference prices are used in calendar year 2017. Further, for
Claim for Government Medallion for
determining the availability of the credit electricity produced from closed-loop
Placement in a Private Cemetery
for renewable electricity production and biomass, open-loop biomass, geothermal
refined coal production under section energy, small irrigation power, AGENCY: National Cemetery
45. For calendar year 2017, the credit municipal solid waste, qualified Administration (NCA), Department of
period for Indian coal production has hydropower production, and marine Veterans Affairs (VA).
expired. and hydrokinetic renewable energy, the ACTION: Notice.
phaseout of the credit provided in
DATES: The 2017 inflation adjustment section 45(b)(1) does not apply to such SUMMARY: The National Cemetery
factor and reference prices apply to electricity sold during calendar year Administration (NCA), Department of
calendar year 2017 sales of kilowatt 2017. Veterans Affairs (VA), is announcing an
hours of electricity produced in the Credit Amount by Qualified Energy opportunity for public comment on the
United States or a possession thereof Resource and Facility and Refined Coal: proposed collection of certain
mstockstill on DSK30JT082PROD with NOTICES
from qualified energy resources and to As required by section 45(b)(2), the 1.5 information by the agency. Under the
2017 sales of refined coal produced in cent amount in section 45(a)(1), and the Paperwork Reduction Act (PRA) of
the United States or a possession $4.375 amount in section 45(e)(8)(A) are 1995, Federal agencies are required to
thereof. each adjusted by multiplying such publish notice in the Federal Register
FOR FURTHER INFORMATION CONTACT: amount by the inflation adjustment concerning each proposed collection of
Jennifer A. Records, CC:PSI:6, Internal factor for the calendar year in which the information, including each revised
Revenue Service, 1111 Constitution sale occurs. If any amount as increased collection, and to allow 60 days for
VerDate Sep<11>2014 18:45 Apr 11, 2017 Jkt 241001 PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 E:\FR\FM\12APN1.SGM 12APN1](https://thefederalregister.org/doc/82_FR_17809/page/1.svg)
Document Created: 2017-04-12 00:23:22
Document Modified: 2017-04-12 00:23:22
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Publication of inflation adjustment factor and reference prices for calendar year 2017. | |
| Dates | The 2017 inflation adjustment factor and reference prices apply to calendar year 2017 sales of kilowatt hours of electricity produced in the United States or a possession thereof from qualified energy resources and to 2017 sales of refined coal produced in the United States or a possession thereof. | |
| Contact | Jennifer A. Records, CC:PSI:6, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224, (202) 317-6853 (not a toll-free number). | |
| FR Citation | 82 FR 17740 |
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