MODIFICATION OF CREDIT FOR RESIDENTIAL ENERGY EFFICIENT PROPERTY.

SEC. 1122. MODIFICATION OF CREDIT FOR RESIDENTIAL ENERGY EFFICIENT PROPERTY.(a) Removal of Credit Limitation for Property Placed in Service.—(1) In general.—Paragraph (1) of section 25D(b) is amended to read as follows:“(1) Maximum credit for fuel cells.—In the case of any qualified fuel cell property expenditure, the credit allowed under subsection (a) (determined without regard to subsection (c)) for any taxable year shall not exceed $500 with respect to each half kilowatt of capacity of the qualified fuel cell property (as defined in section 48(c)(1)) to which such expenditure relates.”.(2) Conforming amendment.—Paragraph (4) of section 25D(e) is amended—(A) by striking all that precedes subparagraph (B) and inserting the following:“(4) Fuel cell expenditure limitations in case of joint occupancy.—In the case of any dwelling unit with respect to which qualified fuel cell property expenditures are made and which is jointly occupied and used during any calendar year as a residence by two or more individuals, the following rules shall apply:“(A) Maximum expenditures for fuel cells.—The maximum amount of such expenditures which may be taken into account under subsection (a) by all such individuals with respect to such dwelling unit during such calendar year shall be $1,667 in the case of each half kilowatt of capacity of qualified fuel cell property (as defined in section 48(c)(1)) with respect to which such expenditures relate.”, and(B) by striking subparagraph (C).(b) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2008.123 STAT. 325