SUPPLEMENTARY INFORMATION:

The IRS, in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed, revised, and continuing collections of information. This helps the IRS assess the impact and minimize the burden of its information collection requirements. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record, and viewable on relevant websites. For this reason, please do not include in your comments information of a confidential nature, such as sensitive personal information. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency's estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.

Title: Qualifying Advanced Energy Project Credit—Notice 2023-18.

OMB Control Number: 1545-2151.

Regulation Project Number: Notice 2023-18, Notice 2024-36.

Abstract: IRS Notice 2023-18, as clarified and modified by subsequent guidance, establishes the § 48C(e) Qualifying Advanced Energy Project Credit Allocation Program. The program authorizes the allocation of $10 billion in tax credits for qualified investments in eligible advanced energy projects, including at least $4 billion reserved for projects located in designated energy communities. Eligible projects generally include investments to establish, expand, or re-equip industrial or manufacturing facilities that produce or recycle clean energy technologies, reduce greenhouse gas emissions by at least 20 percent, or process, refine, or recycle critical materials. To participate in the § 48C(e) program, taxpayers must submit project information to the Department of Energy (DOE) for technical review and recommendation and to the IRS for credit allocation and certification. Required submissions include a concept paper and § 48C(e) application, as applicable, as well as documentation demonstrating that an allocated project satisfies the program's certification requirements and notification when the project is placed in service. Notice 2023-18 has been clarified and modified by subsequent IRS guidance, including Notice 2024-36, which established procedures for the second allocation round and updated the program's technical and administrative requirements.

Current Actions: There is no change in the paperwork burden previously approved by OMB.

Type of Review: Extension of a currently approved collection.

Affected Public: Business or other for-profit.

Estimated Number of Responses: 5,000.

Estimated Time per Response: 6 hours, 21 minutes.

Estimated Total Annual Burden Hours: 31,750.