§ 1.42-10T - Energy obtained directly from renewable sources (temporary).  


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  • § 1.42-10T Energy obtained directly from renewable sources (temporary).

    (a) through (e)

    (1)

    (i)

    (A) [Reserved]. For further guidance see § 1.42-10(a) through (e)(1)(i)(A).

    (B) Utility not purchased from or through a local utility company. The utility is not described in § 1.42-10(e)(1)(i)(A) and is produced from a renewable source (within the meaning of paragraph (e)(1)(i)(C) of this section).

    (C) Renewable source. For purposes of paragraph (e)(1)(i)(B) of this section, a utility is produced from a renewable source if -

    (1) It is energy that is produced from energy property described in section 48;

    (2) It is energy that is produced from property that is part of a facility described in section 45(d)(1) through (4), (6), (9), or (11); or

    (3) It is a utility that is described in guidance published for this purpose in the Internal Revenue Bulletin (see § 601.601(d)(2)(ii) of this chapter).

    (ii) through (iv)

    (A) [Reserved]. For further guidance see § 1.42-10(e)(1)(ii) through (e)(1)(iv)(A).

    (B) The rate described in this paragraph (e)(1)(iv)(B) is the rate at which the local utility company would have charged the tenants in the unit for the utility if that entity had provided it to them.

    (2) [Reserved]

    (f) Date of applicability. This section applies to a building owner's taxable years beginning on or after March 3, 2016. A building owner may apply the provisions of this section to the building owner's taxable years beginning before March 3, 2016.

    (g) Expiration date. The applicability of this section expires on March 1, 2019.

    [T.D. 9755, 81 FR 11110, Mar. 3, 2016]