EXPANSION AND MODIFICATION OF ADVANCED COAL PROJECT INVESTMENT CREDIT.

SEC. 111. EXPANSION AND MODIFICATION OF ADVANCED COAL PROJECT INVESTMENT CREDIT.(a) Modification of Credit Amount.—Section 48A(a) is amended by striking “and” at the end of paragraph (1), by striking the period at the end of paragraph (2) and inserting “, and”, and by adding at the end the following new paragraph:“(3) 30 percent of the qualified investment for such taxable year in the case of projects described in clause (iii) of subsection (d)(3)(B).”.(b) Expansion of Aggregate Credits.—Section 48A(d)(3)(A) is amended by striking “$1,300,000,000” and inserting “$2,550,000,000”.(c) Authorization of Additional Projects.—(1) In general.—Subparagraph (B) of section 48A(d)(3) is amended to read as follows:“(B) Particular projects.—Of the dollar amount in subparagraph (A), the Secretary is authorized to certify—“(i) $800,000,000 for integrated gasification combined cycle projects the application for which is submitted during the period described in paragraph (2)(A)(i),“(ii) $500,000,000 for projects which use other advanced coal-based generation technologies the application for which is submitted during the period described in paragraph (2)(A)(i), and“(iii) $1,250,000,000 for advanced coal-based generation technology projects the application for which is submitted during the period described in paragraph (2)(A)(ii).”.(2) Application period for additional projects.—Subparagraph (A) of section 48A(d)(2) is amended to read as follows:“(A) Application period.—Each applicant for certification under this paragraph shall submit an application meeting the requirements of subparagraph (B). An applicant may only submit an application—“(i) for an allocation from the dollar amount specified in clause (i) or (ii) of paragraph (3)(B) during the 3-year period beginning on the date the Secretary establishes the program under paragraph (1), and122 STAT. 3823“(ii) for an allocation from the dollar amount specified in paragraph (3)(B)(iii) during the 3-year period beginning at the earlier of the termination of the period described in clause (i) or the date prescribed by the Secretary.”.(3) Capture and sequestration of carbon dioxide emissions requirement.—(A) In general.—Section 48A(e)(1) is amended by striking “and” at the end of subparagraph (E), by striking the period at the end of subparagraph (F) and inserting “; and”, and by adding at the end the following new subparagraph:“(G) in the case of any project the application for which is submitted during the period described in subsection (d)(2)(A)(ii), the project includes equipment which separates and sequesters at least 65 percent (70 percent in the case of an application for reallocated credits under subsection (d)(4)) of such project’s total carbon dioxide emissions.”.(B) Highest priority for projects which sequester carbon dioxide emissions.—Section 48A(e)(3) is amended by striking “and” at the end of subparagraph (A)(iii), by striking the period at the end of subparagraph (B)(iii) and inserting “, and”, and by adding at the end the following new subparagraph:“(C) give highest priority to projects with the greatest separation and sequestration percentage of total carbon dioxide emissions.”.(C) Recapture of credit for failure to sequester.—Section 48A is amended by adding at the end the following new subsection:“(i) Recapture of Credit for Failure To Sequester.—The Secretary shall provide for recapturing the benefit of any credit allowable under subsection (a) with respect to any project which fails to attain or maintain the separation and sequestration requirements of subsection (e)(1)(G).”.(4) Additional priority for research partnerships.—Section 48A(e)(3)(B), as amended by paragraph (3)(B), is amended—(A) by striking “and” at the end of clause (ii),(B) by redesignating clause (iii) as clause (iv), and(C) by inserting after clause (ii) the following new clause:“(iii) applicant participants who have a research partnership with an eligible educational institution (as defined in section 529(e)(5)), and”.(5) Clerical amendment.—Section 48A(e)(3) is amended by striking “integrated gasification combined cycle” in the heading and inserting “certain”.(d) Disclosure of Allocations.—Section 48A(d) is amended by adding at the end the following new paragraph:“(5) Disclosure of allocations.—The Secretary shall, upon making a certification under this subsection or section 48B(d), publicly disclose the identity of the applicant and the amount of the credit certified with respect to such applicant.”.(e) Effective Dates.—(1) In general.—Except as otherwise provided in this subsection, the amendments made by this section shall apply to 122 STAT. 3824 credits the application for which is submitted during the period described in section 48A(d)(2)(A)(ii) of the Internal Revenue Code of 1986 and which are allocated or reallocated after the date of the enactment of this Act.(2) Disclosure of allocations.—The amendment made by subsection (d) shall apply to certifications made after the date of the enactment of this Act.(3) Clerical amendment.—The amendment made by subsection (c)(5) shall take effect as if included in the amendment made by section 1307(b) of the Energy Tax Incentives Act of 2005.