Section 48(e) Low-Income Communities Bonus Credit Program (TD 9979)

ICR 202308-1545-003

OMB: 1545-2308

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2023-08-15
Supplementary Document
2023-08-15
ICR Details
1545-2308 202308-1545-003
Received in OIRA 202305-1545-029
TREAS/IRS
Section 48(e) Low-Income Communities Bonus Credit Program (TD 9979)
New collection (Request for a new OMB Control Number)   No
Regular 08/15/2023
  Requested Previously Approved
36 Months From Approved
210,000 0
210,000 0
0 0

This document contains proposed rules concerning the low-income communities bonus energy investment credit program established pursuant to the Inflation Reduction Act of 2022. Applicants investing in certain solar and wind powered-electricity generation facilities may apply for an allocation of environmental justice solar and wind capacity limitation to increase the amount of an energy investment credit for the taxable year in which the facility is placed in service. This document describes proposed definitions and requirements regarding the program that would be applicable for calendar year 2023, which also would inform guidance applicable for future program years. The proposed rules would affect applicants seeking allocations of environmental justice solar and wind capacity limitation. Additional detailed guidance for the program applicable for calendar year 2023, including a comprehensive set of issues and procedures beyond the scope of this document, will be provided upon finalizing the proposed rules.

PL: Pub.L. 117 - 169 13103 Name of Law: Inflation Reduction Act of 2022 (IRA)
   US Code: 26 USC 48(e) Name of Law: Energy Credit
  
PL: Pub.L. 117 - 169 13103 Name of Law: The Inflation Reduction Act of 2022 (IRA

1545-BQ26 Final or interim final rulemaking 88 FR 55506 08/15/2023

Yes

1
IC Title Form No. Form Name
Section 48(e) Low-Income Communities Bonus Credit Program (REG-110412-23)

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 210,000 0 210,000 0 0 0
Annual Time Burden (Hours) 210,000 0 210,000 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
This is a new collection due to enactment of the section 13103 of the Inflation Reduction Act of 2022.

$0
No
    No
    No
No
No
No
No
Dillon Taylor 202 622-4940 dillon.j.taylor@irscounsel.treas.gov

  No

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.
08/15/2023


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