DETERMINATION OF CREDIT RATE.

SEC. 3002. DETERMINATION OF CREDIT RATE.(a) Temporary Minimum Credit Rate for Non-Federally Subsidized New Buildings.—(1) In general.—Subsection (b) of section 42 is amended by striking paragraph (1), by redesignating paragraph (2) as paragraph (1), and by inserting after paragraph (1), as so redesignated, the following new paragraph:“(2) Temporary minimum credit rate for non-federally subsidized new buildings.—In the case of any new building—“(A) which is placed in service by the taxpayer after the date of the enactment of this paragraph and before December 31, 2013, and“(B) which is not federally subsidized for the taxable year,the applicable percentage shall not be less than 9 percent.”.(2) Conforming amendments.—(A) Subsection (b) of section 42, as amended by paragraph (1), is amended by striking “For purposes of this section—” and all that follows through “means the appropriate” and inserting the following:“(1) Determination of applicable percentage.—For purposes of this section, the term ‘applicable percentage’ means, with respect to any building, the appropriate”.(B) Clause (i) of section 42(b)(1)(B), as redesignated by paragraph (1), is amended by striking “a building described in paragraph (1)(A)” and inserting “a new building which is not federally subsidized for the taxable year”.(C) Clause (ii) of section 42(b)(1)(B), as redesignated by paragraph (1), is amended by striking “a building described in paragraph (1)(B)” and inserting “a building not described in clause (i)”.(b) Modifications to Definition of Federally Subsidized Building.—(1) In general.—Subparagraph (A) of section 42(i)(2) is amended by striking “, or any below market Federal loan,”.(2) Conforming amendments.—(A) Subparagraph (B) of section 42(i)(2) is amended—(i) by striking “balance of loan or” in the heading thereof,(ii) by striking “loan or” in the matter preceding clause (i), and122 STAT. 2880(iii) by striking “subsection (d)—” and all that follows and inserting “subsection (d) the proceeds of such obligation.”.(B) Subparagraph (C) of section 42(i)(2) is amended—(i) by striking “or below market Federal loan” in the matter preceding clause (i),(ii) in clause (i)—(I) by striking “or loan (when issued or made)” and inserting “(when issued)”, and(II) by striking “the proceeds of such obligation or loan” and inserting “the proceeds of such obligation”, and(iii) by striking “, and such loan is repaid,” in clause (ii).(C) Paragraph (2) of section 42(i) is amended by striking subparagraphs (D) and (E).(c) Effective Date.—The amendments made by this subsection shall apply to buildings placed in service after the date of the enactment of this Act.