Notice 2023-24

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HIGHLIGHTS
OF THIS ISSUE




Bulletin No. 2023–13
March 27, 2023

These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.

EMPLOYEE PLANS

INCOME TAX
Notice 2023-24, page 571.

This notice provides the general rules for determining the
credit for production from advanced nuclear power facilities
under § 45J (§ 45J credit) and that the amount of the unutilized national megawatt capacity limitation (NMCL) available
for allocation is 6,000 megawatts. This notice also provides the procedures for taxpayers to apply for allocations
of, and that the Internal Revenue Service (IRS) will use to allocate, the unutilized NMCL to facilities that the Department
of Energy previously certified as an “advanced nuclear facility” under Notice 2013-68, 2013-46 I.R.B. 501. In addition,
the notice provides the procedures for a “qualified public
entity” to elect to transfer all or a portion of the § 45J credit
to an “eligible project partner.” Finally, the notice requests
comments on issues impacting the § 45J credit.

Finding Lists begin on page ii.

also requests public comment on topics
related to the § 45J credit that may require
guidance.
.02 The Department of the Treasury
(Treasury Department) and the IRS intend
to issue additional guidance regarding
the procedures by which any unutilized
NMCL will be allocated to a facility that
did not receive a certification from the
DOE as an “advanced nuclear facility”
under Notice 2013-68.
SECTION 2. BACKGROUND
.01 Section 45J was enacted by § 1306
of the Energy Policy Act of 2005, Public
Law 109-58, Title XIII, 119 Stat. 594, 997
(August 8, 2005). Subject to limitations
under § 45J(b) and (c), a taxpayer may be
allowed a § 45J credit of 1.8 cents for each
kilowatt hour of electricity (1) that the
taxpayer produces at an advanced nuclear
power facility during the eight-year period
beginning on the date the facility is placed
in service and (2) that the taxpayer sells
to an unrelated person during the taxable
year (qualifying electricity). See § 45J(a).
.02 Under § 45J(d)(1), an “advanced
nuclear power facility” is (i) any nuclear
facility the reactor design for which is approved by the Nuclear Regulatory Commission (NRC) after December 31, 1993
(and such design or a substantially similar
design of comparable capacity was not
approved on or before that date), (ii) that
is owned by the taxpayer, and (iii) uses
nuclear energy to produce electricity. See
§ 45J(d).
.03 On May 1, 2006, the Treasury Department and the IRS published Notice
2006-40, 2006-18 I.R.B. 855, to provide
guidance on the § 45J credit. Specifically,
Notice 2006-40 specified the method that
the IRS would use to allocate the NMCL
and prescribed the application process by
which taxpayers could request such an
allocation. The notice also provided guidance on the requirement that electricity
be sold to an unrelated person and on the
effect of grants, tax-exempt bonds, subsidized energy financing, and other credits.
.04 On November 12, 2013, the Treasury Department and the IRS published

Notice 2013-68, which modified and superseded Notice 2006-40. Notice 201368 generally republished the guidance
contained in Notice 2006-40, but also
provided a new streamlined application
process allowing an applicant to submit
a single application only to the IRS. The
IRS would then obtain necessary certification from the DOE. In addition, Notice
2013-68 provided guidance on the allocation rules for facilities that are directly or
indirectly owned by more than one person
and the time for filing an application with
the NRC.
.05 As originally enacted in 2005,
§ 45J(d)(1) required all advanced nuclear power facilities to be placed in service
before January 1, 2021, to be eligible for
a § 45J credit. Accordingly, section 6 of
Notice 2013-68 provided that the amount
of the NMCL allocated to a facility under
Notice 2013-68 will be withdrawn if the
facility is not placed in service before January 1, 2021, or if the DOE informs the IRS
that the DOE certification for the facility
has been withdrawn. However, effective
for taxable years beginning after its February 9, 2018, date of enactment, § 40501
of the 2018 Act added new § 45J(b)(5) to
the Code, which, in part, eliminates the
requirement for a facility receiving an allocation of unutilized NMCL pursuant to
§ 45J(b)(5) to be placed in service before
January 1, 2021, to qualify as an advanced
nuclear power facility.
.06 Under § 45J(b)(1) and (3), a taxpayer may be allowed a § 45J credit for
qualifying electricity only if an amount of
NMCL has been allocated to the facility,
in the manner prescribed by the Secretary
of the Treasury or her delegate (Secretary).1 The aggregate amount of NMCL
allocated by the Secretary cannot exceed
6,000 megawatts. See § 45J(b)(2).
.07 As added by § 40501 of the 2018
Act, § 45J(b)(5)(A) directs the Secretary
to allocate any unutilized NMCL (as defined in § 45J(b)(5)(B)) as rapidly as is
practicable after December 31, 2020, as
follows: (i) first to facilities placed in
service on or before December 31, 2020,
to the extent that such facilities did not
receive an allocation equal to their full

nameplate capacity under the procedures
provided in Notice 2013-68, and (ii) then
to facilities placed in service after December 31, 2020, in the order in which
such facilities are placed in service. Section 45J(b)(5)(B) defines the term “unutilized NMCL” as the excess (if any)
of 6,000 megawatts over the aggregate
amount of NMCL allocated by the Secretary before January 1, 2021, reduced by
any amount of such limitation that was
allocated to a facility that was not placed
in service before January 1, 2021. Under
§ 45J(b)(5)(C), any allocation of the unutilized NMCL is treated for purposes of
the § 45J credit in the same manner as an
allocation of the NMCL.
.08 The 2018 Act also added new
§ 45J(e) to the Code effective for taxable
years beginning after February 9, 2018.
Section 45J(e) permits a “qualified public
entity” to make an election for any taxable year with respect to all or any portion of its § 45J credits to transfer such
credits to one or more eligible project
partners specified in the election. With
respect to any § 45J credits transferred
by a qualified public entity to an eligible
project partner, the credit must be taken
into account in the first taxable year of
the eligible project partner ending with,
or after, the qualified public entity’s taxable year with respect to which the credit
was determined.
.09 Section 45J(e)(2)(A) defines the
term “qualified public entity” to mean (i)
a Federal, State, or local government entity, or any political subdivision, agency,
or instrumentality thereof; (ii) a mutual or
cooperative electric company described in
§ 501(c)(12) or § 1381(a)(2) of the Code;
or (iii) a not-for-profit electric utility
which had or has received a loan or loan
guarantee under the Rural Electrification
Act of 1936.
.10 Section 45J(e)(2)(B) defines the
term “eligible project partner” to mean
any person who (i) is responsible for, or
participates in, the design or construction
of the advanced nuclear power facility to
which the § 45J credit relates; (ii) participates in the provision of the nuclear steam
supply system to such facility; (iii) partic-

The amount of the § 45J credit allowed a taxpayer under § 45J(a) for a taxable year may be (i) limited (after the application of § 45J(b)) by an annual limitation under § 45J(c)(1) applicable
to each facility and (ii) reduced under § 45J(c)(2) based on an inflation adjusted reference price for electricity described in § 45(e)(2)(C) of the Code.
1

March 27, 2023

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Bulletin No. 2023–13

ipates in the provision of nuclear fuel to
such facility; (iv) is a financial institution
providing financing for the construction
or operation of such facility; or (v) has an
ownership interest in such facility.
.11 In the case of a § 45J credit determined at the partnership level, a qualified
public entity is treated as the taxpayer
with respect to its distributive share of the
§ 45J credit, and the term “eligible project
partner” includes any partner of the partnership. See § 45J(e)(3)(A).
.12 Section 38(b)(21) includes the
§ 45J credit as a current year business
credit. Section 39(a)(1) provides, in part,
that if the amount of the current year business credit for the taxable year exceeds
the amount of the limitation imposed by
§ 38(c) for the taxable year (unused credit
year), the excess results in a 1-year business credit carryback to the taxable year
preceding the unused credit year, and a
business credit carryforward to each of
the twenty (20) taxable years following
the unused credit year. Section 39(a)(2)
(A) provides that the entire amount of the
unused credit for an unused credit year is
carried to the earliest of the twenty-one
(21) taxable years to which the credit may
be carried. Section 39(a)(2)(B) provides
that the amount of the unused credit for
the unused credit year is carried to each of
the other twenty (20) taxable years to the
extent that such unused credit may not be
taken into account under § 38(a) for a prior taxable year because of the limitations
of § 39(b) and (c).
SECTION 3. DETERMINATION OF
THE § 45J CREDIT
.01 In general. Under § 45J(a), (b)(1),
and (c), the § 45J credit allowed to a taxpayer for a taxable year with respect to
qualifying electricity is the lesser of:
(1) the tentative credit for the facility
for the taxable year (determined under
section 3.02(1) of this notice) multiplied
by the taxpayer’s credit percentage (determined under section 3.02(2) of this notice), or
(2) $125,000,000 per 1,000 megawatts
of the facility limitation determined under
section 5.03(1) and (2) of this notice that
is allocated to the taxpayer under section
5.03(3), (4), and (5) of this notice.
.02 Tentative credit; credit percentage

Bulletin No. 2023–13

(1) A facility’s tentative credit for the
taxable year is equal to 1.8 cents multiplied by the kilowatt hours of qualifying
electricity.
(2) The credit percentage for each taxpayer that has been allocated all or part
of the amount of the facility limitation is
determined by dividing the facility limitation that is allocated to the taxpayer
under section 5.03(3), (4), and (5) of this
notice by the nameplate capacity of the
facility.
.03 Credit determination for partnerships and S corporations. If a facility is
owned by a partnership or S corporation,
then the partnership or S corporation, and
not the partners or shareholders, will be
treated as the taxpayer that owns the facility for the purposes of this notice. In such
cases, the § 45J credit must be allocated to
the partners or shareholders in accordance
with § 1.704-1(b)(4)(ii) of the Income Tax
Regulations, in the case of partnerships,
or § 1.1366-1(a)(2)(v) of the Income Tax
Regulations, in the case of S corporations.
If the facility is owned through an organization that has made a valid election under
§ 761(a) of the Code (§ 761(a) election),
each member’s undivided ownership
share in the facility will be treated for purposes of this notice as a separate facility
owned by such member.
.04 Sale of Electricity to Unrelated
Person. The § 45J credit is allowed only
for qualifying electricity that the taxpayer
produces and sells to an unrelated person,
as defined in § 45(e)(4). Solely for purposes of § 45J, electricity will be treated as
sold to an unrelated person if the ultimate
purchaser of the electricity is not related
to the person that produces the electricity. Thus, the requirement of a sale to an
unrelated person will be treated as satisfied if the producer sells the electricity to
a related person for resale by the related
person to a person that is not related to the
producer.
.05 Effect of Grants, Tax-Exempt Bond
Proceeds, Subsidized Energy Financing,
and Other Credits. The amount of the
§ 45J credit with respect to any facility
for any taxable year is not reduced by the
amount of any grants, tax-exempt bond
proceeds, subsidized energy financing,
or other credits (as described in § 45(b)
(3)) used for, or in connection with, the
facility.

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SECTION 4. DETERMINATION
OF THE UNUTILIZED NATIONAL
MEGAWATT CAPACITY
LIMITATION
After consultation with the DOE, the
Treasury Department and the IRS have
determined that no advanced nuclear
power facility that received an allocation of the NMCL under Notice 201368 was placed in service before January 1, 2021. Therefore, in accordance
with section 6 of Notice 2013-68 and
§ 45J(b)(5)(B), all previous allocations
of the NMCL are withdrawn and the
total unutilized NMCL is 6,000 megawatts. The unutilized NMCL is available
for allocation as provided in section 5 of
this notice.
SECTION 5. ALLOCATION OF
THE UNUTILIZED NATIONAL
MEGAWATT CAPACITY
LIMITATION
.01 Application Limited to Facilities
Certified by DOE. The IRS will allocate
the unutilized NMCL only to advanced
nuclear power facilities (within the meaning of § 45J(d)(1)(A)) for which the DOE
provides certification to the IRS that the
facility qualifies as an “advanced nuclear facility.” For purposes of this notice,
each nuclear power reactor located on a
multi-reactor site is a separate facility. At
this time, only an owner of an advanced
nuclear power facility that (i) either (I)
previously received a certification from
the DOE under Notice 2013-68 that such
facility qualified as an “advanced nuclear
facility” or (II) acquired the facility after
the IRS had provided a previous owner of
the facility a letter stating that the DOE
had certified that facility as an “advanced
nuclear facility” under Notice 2013-68,
and (ii) maintains an active NRC construction permit or license or combined
license, may apply for an allocation of the
unutilized NMCL pursuant to this notice.
In addition, the rule in section 4.04(3) and
(5) of Notice 2013-68 that undivided ownership shares in a facility would be treated
as separate facilities for purposes of that
notice is disregarded for purposes of determining whether a facility previously
received a DOE certification under Notice
2013-68.

March 27, 2023

.02 Application Required. The IRS will
not allocate the unutilized NMCL to any
owner of an advanced nuclear power facility unless such owner submits a completed application in accordance with section 6 of this notice.
.03 Allocation Method. The unutilized
NMCL will be allocated as follows:
(1) Each facility that meets the requirements of sections 5 and 6 of this notice
(qualified facility) will be allocated an
amount of the unutilized NMCL equal
to its nameplate capacity in the order in
which such facilities are placed in service
(provided the application deadline specified in section 6.02 of this notice is met).
The amount of the unutilized NMCL allocated to a qualified facility is referred to as
the facility limitation.
(2) The IRS will continue to allocate the
unutilized NMCL equal to the nameplate
capacity of a qualified facility until all the
unutilized NMCL is allocated. The final
recipient(s) of the remaining unutilized
NMCL may receive only a portion of the
unutilized NMCL for which it applied even
if it otherwise meets the requirements under this notice to receive a full allocation.
(3) If only one taxpayer owns a direct
interest in a qualified facility, the entire
facility limitation is allocated to such taxpayer. If more than one taxpayer owns a
direct interest in a qualified facility, each
taxpayer’s undivided ownership share in
the qualified facility will be treated for
purposes of this notice as a separate qualified facility owned by such taxpayer. In
such cases, a taxpayer’s application must
identify the portion of the total nameplate
capacity of the qualified facility that is
equal to its undivided ownership share in
the qualified facility.
(4) Except as provided in sections
3.03 and 5.03(5) of this notice, if a qualified facility is owned by a partnership
or S corporation, then the partnership
or S corporation, and not the partners or
shareholders, will be treated as the taxpayer that owns the qualified facility for the
purposes of this notice. In such cases, the
§ 45J credit must be allocated to the partners or shareholders in accordance with
§ 1.704-1(b)(4)(ii), in the case of partnerships, or § 1.1366-1(a)(2)(v), in the case
of S corporations.
(5) If the qualified facility is owned
through an organization that has made a

March 27, 2023

valid § 761(a) election, each member’s
undivided ownership share in the qualified facility will be treated for purposes of
this notice as a separate qualified facility
owned by such member. In such cases,
a member’s application for an allocation must identify the portion of the total
nameplate capacity of the qualified facility that is equal to its undivided ownership
share in the qualified facility.
SECTION 6. APPLICATION FOR
ALLOCATION OF UNUTILIZED
NATIONAL MEGAWATT CAPACITY
LIMITATION
.01 In general. (1) A taxpayer must submit, for each facility for which an allocation of the unutilized NMCL is requested,
an application to the IRS for an allocation
of the unutilized NMCL under § 45J(b)(5)
(Application for § 45J Allocation).
(2) An Application for § 45J Allocation should be marked or titled “APPLICATION FOR SECTION 45J ALLOCATION” and delivered in the manner
provided in section 6.04 of this notice.
(3) Multiple taxpayers owning (or treated as owning) a direct interest in a facility
(as described in section 5.03(3) or (5) of
this notice) must each file a separate Application for § 45J Allocation with respect
to a single facility. See section 6.03(6) of
this notice.
(4) No user fee is required for the
submission of an Application for § 45J
Allocation.
.02 Application Deadline. An Application for § 45J Allocation must be filed
no later than thirty (30) days after the date
that the facility is placed in service. A taxpayer may file its Application for § 45J
Allocation before the facility is placed in
service, but the taxpayer must supplement
its application with the statement required
under section 6.03(4) of this notice no later than thirty (30) days after the date that
the facility is placed in service.
.03 Required Information. An Application for § 45J Allocation must include the
following:
(1) The name, taxpayer identification
number (if available), and address of the
taxpayer who placed or who will place the
facility in service;
(2) The name and location of the
facility;

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(3) The nameplate capacity of the
facility;
(4) A statement signed under penalties
of perjury (as provided in section 6.03(8)
of this notice) providing the date on which
the facility was placed in service, the date
the facility received an NRC construction
permit or license or combined license, and
a statement that such permit or license
remains active. If the date on which the
facility was placed in service is unknown
at the time of the Application for § 45J Allocation, such application may be supplemented at any time prior to the application
deadline specified in section 6.02 of this
notice;
(5) The total amount of unutilized
NMCL requested (not to exceed the nameplate capacity of the facility);
(6) If a taxpayer’s Application for
§ 45J Allocation relates to a facility in
which more than one person owns (or is
treated as owning) a direct interest (as
described in section 5.03(3) or (5) of this
notice), the taxpayer must submit documentation of its undivided ownership
share in the facility;
(7) If the facility is owned by an organization that has made a § 761(a) election,
a copy of the § 761 election;
(8) A declaration, applicable to the Application for § 45J Allocation and any required supplemental submissions, signed
by a person currently authorized to bind
the taxpayer in these matters, in the following form:
“Under penalties of perjury I declare
that I have examined the information
contained in this Application for § 45J
Allocation and the documents that substantiate this Application for § 45J Allocation, and to the best of my knowledge and belief, it is true, correct, and
complete.”
(9) The following additional statement:
“ I further declare that I have authority
to sign this Application for § 45J Allocation (and any supplemental submissions) on behalf of the taxpayer.”
.04 Where to Submit an Application for
§ 45J Allocation.
(1) An Application for § 45J Allocation
should be sent to the following address:

Bulletin No. 2023–13

Internal Revenue Service
Attn: CC:PSI:6, Room 5114
P.O. Box 7604
Ben Franklin Station
Washington, DC 20044
(2) If a private delivery service is used,
the address is:
Internal Revenue Service
Attn: CC:PSI:6, Room 5114
1111 Constitution Ave., N.W.
Washington, DC 20224
(3) An Application for § 45J Allocation may also be faxed or e-faxed to (855)
591-7868.
.05 IRS Action. (1) Upon receipt of a
taxpayer’s Application for § 45J Allocation, the IRS will determine whether the
Application for § 45J Allocation satisfies
the requirements of this notice. If the Application for § 45J Allocation does not satisfy the requirements of this notice, the IRS
may advise the taxpayer how to perfect its
Application for § 45J Allocation. The IRS
will not consider an Application for § 45J
Allocation to be complete until the IRS receives all the information requested in this
notice. The IRS will confirm that the DOE
previously certified the taxpayer’s facility
as an advanced nuclear facility pursuant to
the procedures of Notice 2013-68.
(2) Upon receipt of a completed Application for § 45J Allocation, the IRS
will review the taxpayer’s Application
for § 45J Allocation and will notify the
taxpayer, by letter, of its decision. If the
IRS accepts the taxpayer’s Application for
§ 45J Allocation, the acceptance letter will
state the amount of the facility limitation
and the portion of that facility limitation
being allocated to the taxpayer.
(3) The IRS will allocate the unutilized NMCL under this notice based on
the information provided in a taxpayer’s
Application for § 45J Allocation. If the
IRS determines upon an examination that
a facility was not placed in service on the
date the taxpayer specified under section
6.03(4) of this notice, the IRS may subsequently withdraw a facility’s allocation of
the unutilized NMCL.
SECTION 7. TRANSFER OF
CREDIT BY QUALIFIED PUBLIC
ENTITIES
.01 In general. Section 45J(e) permits
a qualified public entity (as defined in

Bulletin No. 2023–13

§ 45J(e)(2)(A)) to elect to transfer all or
a portion of its § 45J credit to an eligible project partner (as defined in § 45J(e)
(2)(B)) (§ 45J(e) Election). If a facility
is owned by a partnership, a qualified
public entity may elect to transfer its distributive share under § 1.704-1(b)(4)(ii)
of the credit to an eligible project partner. In addition, if a facility is owned by
a partnership, an eligible project partner
includes any partner of the partnership.
A § 45J(e) Election may be made by a
qualified public entity for a taxable year
only if a § 45J credit is determined for
the qualified public entity for such taxable year. If a qualified public entity is
not required to file an income tax return
for the taxable year that the § 45J credit
is determined, the qualified public entity
is still considered a taxpayer for purposes of making the § 45J(e) Election and
its taxable year is treated as the calendar year for purposes of determining the
§ 45J credit and making such election.
.02 Election Procedures. (1) A qualified public entity may make a § 45J(e)
Election by furnishing an eligible project partner with a statement titled “SECTION 45J(e) ELECTION STATEMENT”
(§ 45J(e) Election Statement) transferring
all or a portion of the qualified public entity’s § 45J credit. The statement must be
signed under penalties of perjury by an
individual with authority to legally bind
the qualified public entity. The election
statement must also include the written
consent of an individual with authority to
legally bind the eligible project partner.
A qualified public entity must furnish a
separate statement to each eligible project
partner to whom it transfers any portion of
its § 45J credit.
(2) The § 45J(e) Election Statement
must include the following information:
(a) The name, address, and taxpayer
identification number (if available) of the
qualified public entity;
(b) The name and location of the
facility;
(c) The nameplate capacity of the
facility;
(d) The date on which the facility was
placed in service;
(e) The full amount of the unutilized
NMCL allocated to the qualified public
entity with respect to the facility and a
copy of the letter issued by the IRS stating

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the amount of the unutilized NMCL allocated to the qualified public entity;
(f) The taxable year of the qualified
public entity for which the § 45J credit is
determined and the election is made;
(g) The name, address and taxpayer
identification number of all known eligible project partners receiving any portion
of the qualified public entity’s transferred
§ 45J credit;
(h) The total kilowatt-hours of electricity produced by the facility and sold to an
unrelated taxpayer during the taxable year
of the qualified public entity for which the
election is made;
(i) The total amount of the § 45J credit
determined with respect to the qualified
public entity for the taxable year for which
the election is made and the amount of
that § 45J credit that the qualified public
entity is electing to transfer to the eligible
project partner;
(j) A statement providing how the § 45J
credit claimant qualifies as an eligible
project partner; and
(k) A declaration, applicable to the
§ 45J(e) Election Statement signed by a
person currently authorized to bind the
qualified public entity in these matters, in
the following form:
“Under penalties of perjury I declare
that I have examined the information
contained in this § 45J(e) Election
Statement and the documents that substantiate this § 45J(e) Election Statement, and to the best of my knowledge and belief, it is true, correct, and
complete.”
(l) The following additional statement:
“ I further declare that I have authority
to sign this § 45J(e) Election Statement
on behalf of the qualified public entity.”
(3) A § 45J(e) Election is an annual
election that must be made for each taxable year for which a qualified public entity will transfer the credit to an eligible
project partner. A separate election must
be made for each eligible project partner
for which a qualified public entity will
transfer a portion of the § 45J credit.
.03 Due Date for Making Election. The
§ 45J(e) Election Statement must be furnished to the eligible project partner on or

March 27, 2023

before the due date (including extensions of
time) of the eligible project partner’s Federal income tax return on which it claims
the transferred § 45J credit for the taxable
year ending with, or after, the qualified
public entity’s taxable year with respect to
which the credit was determined.
.04 Election Irrevocable. An election
by a qualified public entity to transfer any
portion of the § 45J credit is irrevocable
once the § 45J(e) Election Statement referred to in section 7.02 of this notice is
furnished to the eligible project partner.
.05 Requirement for an Eligible Project
Partner to Claim the Credit. An eligible
project partner claims the § 45J credit by
filing the applicable IRS form for claiming the credit (and including all requested
information) and attaching the § 45J(e)
Election Statement furnished by the qualified public entity as provided in section
7.02 of this notice.
.06 Carryforwards and Carrybacks
of Credits. In the case of any credit or
portion thereof with respect to which a
§ 45J(e) Election is made, the credit must
be taken into account under § 38 by the
eligible project partner in the first taxable
year of the eligible project partner ending
with or after the qualified public entity’s
taxable year with respect to which the
credit was determined. The carryback and
carryforward rule provided in § 39 regarding unused business credits applies to the
eligible project partner.
SECTION 8. REQUEST FOR
COMMENTS
.01 Comments Requested. The Treasury Department and IRS request written
comments on issues relating to § 45J(b)
(5) and (e) and the guidance provided in
this notice. In particular, the Treasury Department and the IRS request comments to
address the following:
(1) Section 45J(b)(5) provides that the
unutilized NMCL is allocated to facilities
in the order in which a facility is placed
in service in an allocation amount up to
the facility’s nameplate capacity. The
Treasury Department and the IRS intend
to issue guidance to provide the proce-

March 27, 2023

dures for a facility that has not previously received a certification from the DOE
as an “advanced nuclear facility” under
Notice 2013-68 to be allocated unutilized
NMCL. Accordingly, the Treasury Department and the IRS invite comments regarding the procedures for allocating the
remaining unutilized NMCL.
(2) Section 45J(c)(2) provides that the
§ 45J credit phases out based on a ratio
of the credit determined in § 45J(a) to the
reference price defined in § 45(e)(2)(C).
The Treasury Department and the IRS invite comments regarding the method for
calculating the reference price for the generation of electricity at an advanced nuclear power facility.
.02 How to Submit Comments. All
commenters are strongly encouraged to
submit comments electronically. Comments should be submitted in writing by
May 8, 2023, and should include reference to Notice 2023-24. Comments may
be submitted electronically via the Federal eRulemaking Portal at www.regulations.gov (type IRS-2023-0008 in the
search field on the regulations.gov homepage to find this notice and submit comments). Alternatively, comments may be
mailed to: Internal Revenue Service, Attn:
CC:PA:LPD:PR (Notice 2023-24), Room
5203, P.O. Box 7604, Ben Franklin Station, Washington D.C. 20044. The Treasury Department and the IRS will publish for public availability any comment
submitted electronically or on paper to its
public docket on www.regulations.gov.
SECTION 9. PAPERWORK
REDUCTION ACT
The collection of information contained
in this notice has been submitted to the
Office of Management and Budget in accordance with the Paperwork Reduction
Act (PRA) (44 U.S.C. 3507) under control
number 1545-2000. An agency may not
conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information
displays a valid OMB control number.
The collections of information in this
notice are in sections 6 and 7. The sec-

576

tion 6 requirements are not defined as a
collection of information under 5 CFR
1320.3(c). The information collection requirements contained in section 7 will be
submitted to OMB for review and approval in accordance with 5 CFR 1320.10.
Section 7 provides procedures for a
qualified public entity to make an election
to transfer the § 45J credits to an eligible
project partner (a third-party disclosure
under the PRA). The information will be
used to determine the portion of the § 45J
credits to which an eligible project partner is entitled. An eligible project partner
will use the election statement to claim the
§ 45J credit. This information is required
to be collected and retained for taxpayers
to claim the § 45J credit.
The collection of information is required to obtain a benefit. The likely respondents are corporations and
partnerships.
The estimated total annual reporting
burden is 406 hours.
The estimated annual burden per respondent is 5.07 hours. The estimated
number of respondents is 80.
The estimated frequency of responses
is on occasion.
Books or records relating to a collection of information must be retained as
long as their contents may become material in the administration of any internal
revenue law. Generally, tax returns and tax
return information are confidential, as required by § 6103 of the Code.
SECTION 10. EFFECT ON OTHER
DOCUMENTS
Notice 2013-68 is obsoleted.
SECTION 11. DRAFTING
INFORMATION
The principal author of this notice is
John M. Deininger of the Office of Associate Chief Counsel (Passthroughs &
Special Industries). For further information regarding this notice contact Mr.
Deininger at (202) 317-6853 (not a tollfree number).

Bulletin No. 2023–13