Code Section 54C


Code Section Effective Date Name of Act Name of Provision 10yr Revenue Estimate ($millions)
54C 2/17/2009 The American Recovery and Reinvestment Act of 2009 (Public Law 111-5) Expand new clean renewable energy bonds -578

Expand new clean renewable energy bonds

Explanation of Provision233

In General

The provision expands the New CREBs program. The provision authorizes issuance of up to an additional $1.6 billion of New CREBs.

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233- Section 301 of the Hiring Incentives to Restore Employment Act, Pub. L. No. 111–147, added a provision to section 6431, allowing the issuer of the bonds to elect to receive a direct payment from the Treasury in lieu of providing a tax credit to the holders of the bonds. For further discussion, see Part Seven of this document.
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