EXTENSION OF THE ADVANCED ENERGY PROJECT CREDIT.

SEC. 13501. EXTENSION OF THE ADVANCED ENERGY PROJECT CREDIT.(a) Extension of Credit.—Section 48C is amended by redesignating subsection (e) as subsection (f) and by inserting after subsection (d) the following new subsection:“(e) Additional Allocations.—“(1) In general.—Not later than 180 days after the date of enactment of this subsection, the Secretary shall establish a program to consider and award certifications for qualified investments eligible for credits under this section to qualifying advanced energy project sponsors. “(2) Limitation.—The total amount of credits which may be allocated under the program established under paragraph (1) shall not exceed $10,000,000,000, of which not greater than $6,000,000,000 may be allocated to qualified investments which are not located within a census tract which—“(A) is described in clause (iii) of section 45(b)(11)(B), and “(B) prior to the date of enactment of this subsection, had no project which received a certification and allocation of credits under subsection (d). “(3) Certifications.—“(A) Application requirement.—Each applicant for certification under this subsection shall submit an application at such time and containing such information as the Secretary may require. “(B) Time to meet criteria for certification.—Each applicant for certification shall have 2 years from the date of acceptance by the Secretary of the application during which to provide to the Secretary evidence that the requirements of the certification have been met. “(C) Period of issuance.—An applicant which receives a certification shall have 2 years from the date of issuance of the certification in order to place the project in service and to notify the Secretary that such project has been so placed in service, and if such project is not placed in service by that time period, then the certification shall no longer be valid. If any certification is revoked under this subparagraph, the amount of the limitation under paragraph (2) shall be increased by the amount of the credit with respect to such revoked certification. “(D) Location of project.—In the case of an applicant which receives a certification, if the Secretary determines that the project has been placed in service at a location which is materially different than the location specified in the application for such project, the certification shall no longer be valid. “(4) Credit rate conditioned upon wage and apprenticeship requirements.—“(A) Base rate.—For purposes of allocations under this subsection, the amount of the credit determined under 136 STAT. 1970 subsection (a) shall be determined by substituting ‘6 percent’ for ‘30 percent’. “(B) Alternative rate.—In the case of any project which satisfies the requirements of paragraphs (5)(A) and (6), subparagraph (A) shall not apply. “(5) Prevailing wage requirements.—“(A) In general.—The requirements described in this subparagraph with respect to a project are that the taxpayer shall ensure that any laborers and mechanics employed by the taxpayer or any contractor or subcontractor in the re-equipping, expansion, or establishment of a manufacturing facility shall be paid wages at rates not less than the prevailing rates for construction, alteration, or repair of a similar character in the locality in which such project is located as most recently determined by the Secretary of Labor, in accordance with subchapter IV of chapter 31 of title 40, United States Code. “(B) Correction and penalty related to failure to satisfy wage requirements.—Rules similar to the rules of section 45(b)(7)(B) shall apply. “(6) Apprenticeship requirements.—Rules similar to the rules of section 45(b)(8) shall apply. “(7) Disclosure of allocations.—The Secretary shall, upon making a certification under this subsection, publicly disclose the identity of the applicant and the amount of the credit with respect to such applicant.” . (b) Modification of Qualifying Advanced Energy Projects.—Section 48C(c)(1)(A) is amended—(1) by inserting “, any portion of the qualified investment of which is certified by the Secretary under subsection (e) as eligible for a credit under this section” after “means a project”, (2) in clause (i)—(A) by striking “a manufacturing facility for the production of” and inserting “an industrial or manufacturing facility for the production or recycling of”, (B) in clause (I), by inserting “water,” after “sun,”, (C) in clause (II), by striking “an energy storage system for use with electric or hybrid-electric motor vehicles” and inserting “energy storage systems and components”, (D) in clause (III), by striking “grids to support the transmission of intermittent sources of renewable energy, including storage of such energy” and inserting “grid modernization equipment or components”, (E) in subclause (IV), by striking “and sequester carbon dioxide emissions” and inserting “, remove, use, or sequester carbon oxide emissions”, (F) by striking subclause (V) and inserting the following:“(V) equipment designed to refine, electrolyze, or blend any fuel, chemical, or product which is—“(aa) renewable, or “(bb) low-carbon and low-emission,” , (G) by striking subclause (VI), (H) by redesignating subclause (VII) as subclause (IX), (I) by inserting after subclause (V) the following new subclauses:136 STAT. 1971 “(VI) property designed to produce energy conservation technologies (including residential, commercial, and industrial applications), “(VII) light-, medium-, or heavy-duty electric or fuel cell vehicles, as well as—“(aa) technologies, components, or materials for such vehicles, and “(bb) associated charging or refueling infrastructure, “(VIII) hybrid vehicles with a gross vehicle weight rating of not less than 14,000 pounds, as well as technologies, components, or materials for such vehicles, or” , and (J) in subclause (IX), as so redesignated, by striking “and” at the end, and (3) by striking clause (ii) and inserting the following:“(ii) which re-equips an industrial or manufacturing facility with equipment designed to reduce greenhouse gas emissions by at least 20 percent through the installation of—“(I) low- or zero-carbon process heat systems, “(II) carbon capture, transport, utilization and storage systems, “(III) energy efficiency and reduction in waste from industrial processes, or “(IV) any other industrial technology designed to reduce greenhouse gas emissions, as determined by the Secretary, or “(iii) which 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)).” . (c) Conforming Amendment.—Subparagraph (A) of section 48C(c)(2) is amended to read as follows:“(A) which is necessary for—“(i) the production or recycling of property described in clause (i) of paragraph (1)(A), “(ii) re-equipping an industrial or manufacturing facility described in clause (ii) of such paragraph, or “(iii) re-equipping, expanding, or establishing an industrial facility described in clause (iii) of such paragraph,” . (d) Denial of Double Benefit.—48C(f), as redesignated by this section, is amended by striking “or 48B” and inserting “48B, 48E, 45Q, or 45V”. (e) Effective Date.—The amendments made by this section shall take effect on January 1, 2023.