Qualifying Advanced Energy Project Credit - Notice 2023-18
Reinstatement with change of a previously approved collection
No
Emergency
05/31/2023
Approved without change
06/01/2023
05/31/2023
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
12/31/2023
6 Months From Approved
5,000
0
0
31,750
0
0
0
0
0
This notice supersedes Notice 2009-72 and establishes the qualifying advanced energy project program ("advanced energy program") under § 48C(d) of the Internal Revenue Code and announces an initial allocation round of the qualifying advanced energy project credit ("advanced energy credit") to qualifying advanced energy projects under the advanced energy program. A qualifying advanced energy project re-equips, expands, or establishes a manufacturing facility for the production of certain energy related property. A taxpayer must submit, for each qualifying advanced energy project: (1) an application for certification by the DOE ("application for DOE certification"), and (2) an application for certification under § 48C(d)(2) by the Service ("application for § 48C certification"). Both applications may be submitted only during the 2-year period beginning on August 14, 2009. Certification will be issued and credits will be allocated to projects in annual allocation rounds. The initial allocation round was conducted in 2009-10, and if necessary, additional allocation rounds in 2010-11.
The Department of the Treasury and the Internal Revenue Service (IRS) are requesting a reinstatement of OMB Control Number 1545-2151 (Qualifying Advanced Energy Project Credit) under emergency procedures in connection with provisions of Congress passed by § 13501 of Public Law 117-169, 136 Stat. 1818 of the Inflation Reduction Act of 2022 (IRA22), on August 16, 2022.
Section 13501(a) of the IRA22 adds § 48C(e) to the Internal Revenue Code (âCodeâ) to extend the § 48C credit and to provide an additional credit allocation of $10 billion. Section 13501(b) of the IRA22 modifies the definition of a âqualifying advanced energy projectâ contained in § 48C(c)(1)(A). Section 13501(c) and (d) of the IRA22 make conforming amendments to § 48C(c)(2)(A) and (f). The amendments made by § 13501 of the IRA22 became effective on January 1, 2023. See § 13501(e) of the IRA22. The IRA22 requires the Secretary to establish a program to consider and to award credits for qualified investments eligible for credits under § 48C not later than 180 days after enactment (February 13, 2023).
IRS Notice 2023-18 establishes the program under § 48C(e)(1) of the Code to allocate $10 billion of credits ($4 billion of which may only be allocated to projects located in certain energy communities) for qualified investments in eligible qualifying advanced energy projects (§ 48C(e) program). A qualifying advanced energy project (1) re-equips, expands or establishes an industrial or manufacturing facility for the production or recycling of certain clean energy technologies specified in Notice 2023-18; (2) re-equips any industrial or manufacturing facility with equipment designed to reduce greenhouse gas emissions by at least 20% through the installation of certain technologies specified in Notice 2023-18; or (3) re-equips, expands, or establishes an industrial facility for the processing, refining, or recycling of critical materials (as defined in section 7002(a) of the Energy Act of 2020 (30 U.S.C. 1606(a)). A taxpayer must submit, for each qualifying advanced energy project: (1) a concept paper for Department of Energy (DOE) consideration and (2) a § 48C(e) application (consisting of (i) an application for DOE recommendation and (ii) an application for § 48C(e) certification). To be eligible to claim any § 48C credits allocated to a project under the § 48C(e) program, a taxpayer must also provide to DOE (1) evidence establishing that a project satisfies the certification requirements specified in Notice 2023-18 and (2) a notification that the project has been placed in service.
Therefore, due to the extraordinary circumstances and statutory deadlines for implementing the Section 13501 of the IRA22, the Treasury and IRS, in consultation with DOE, request emergency processing of this information collection request by May 31. Given the inability to seek public comment during such a short timeframe, IRS also respectfully requests a waiver from the requirement to publish a notice in the Federal Register seeking public comment during the period of Office of Management and Budget review. However, public comment will be solicited in conjunction with the subsequent extension of the approval to collect this information.
US Code:
26 USC 48C (e)(1)
Name of Law: Qualified Advanced Energy Project Program
PL: Pub.L. 117 - 169 13501 Name of Law: Inflation Reduction Act of 2022
Section 13501(a) of the Inflation Reduction Act of 2022 extends the 48C credit to provide an additional credit allocation of $10 billion. Therefore, IRS is reinstating the OMB approval of 1545-2151 â Qualifying Advanced Energy Project Credit.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
n-23-44-appendix-c.pdf
Emergency Justification Memo-5-11-2023.docx
Qualifying Advanced Energy Project Credit Allocation Program - Application