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26 U.S.C. § 46 — Amount of credit

submitted 64 years ago by Pub. L. 87-834 to r/title-26-INTERNAL-REVENUE-CODE · 65 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law defines the total "investment credit" a taxpayer can claim under section 38. It adds together seven separate credits into one investment credit amount. Those seven credits include the rehabilitation credit and the energy credit, among others.

This section defines the "investment credit" used in section 38. For any tax year, the investment credit equals the sum of seven separate credits: 1. The rehabilitation credit. 2. The energy credit. 3. The qualifying advanced coal project credit. 4. The qualifying gasification project credit. 5. The qualifying advanced energy project credit. 6. The advanced manufacturing investment credit. 7. The clean electricity investment credit. This section does not itself explain what's needed to qualify for each of these seven credits — those rules are set out elsewhere in the law. This section only tells you to add them together to get the total investment credit.
the actual law source: uscode.house.gov ↗public domain

For purposes of section 38, the amount of the investment credit determined under this section for any taxable year shall be the sum of—

(1)

the rehabilitation credit,

(2)

the energy credit,

(3)

the qualifying advanced coal project credit,

(4)

the qualifying gasification project credit,

(5)

the qualifying advanced energy project credit,

(6)

the advanced manufacturing investment credit, and

(7)

the clean electricity investment credit.

Source credit: (Added Pub. L. 87–834, § 2(b), Oct. 16, 1962, 76 Stat. 963; amended Pub. L. 88–272, title II, § 201(d)(4), Feb. 26, 1964, 78 Stat. 32; Pub. L. 89–384, § 1(c)(1), Apr. 8, 1966, 80 Stat. 102; Pub. L. 89–389, § 2(b)(5), Apr. 14, 1966, 80 Stat. 114; Pub. L. 89–800, § 3, Nov. 8, 1966, 80 Stat. 1514; Pub. L. 90–225, § 2(a), Dec. 27, 1967, 81 Stat. 731; Pub. L. 91–172, title III, § 301(b)(4), title IV, § 401(e)(1), title VII, § 703(b), Dec. 30, 1969, 83 Stat. 585, 603, 666; Pub. L. 92–178, title I, §§ 102(a)(1), (b), 105(a)–(c), 106(a)–(c), 107(a)(1), 108(a), Dec. 10, 1971, 85 Stat. 499, 503, 506, 507; Pub. L. 93–406, title II, §§ 2001(g)(2)(B), 2002(g)(2), 2005(c)(4), Sept. 2, 1974, 88 Stat. 957, 968, 991; Pub. L. 94–12, title III, § 301(a), (b)(1)–(3), 302(a), (b)(1), Mar. 29, 1975, 89 Stat. 36, 37, 40, 43; Pub. L. 94–455, title V, § 503(b)(4), title VIII, §§ 802(a), (b)(1)–(5), 803(a), (b)(1), 805(a), title XVI, § 1607(b)(1)(B), title XVII, §§ 1701(b), 1703, title XIX, §§ 1901(a)(4), (b)(1)(C), 1906(b)(13)(A), title XXI, § 2112(a)(2), Oct. 4, 1976, 90 Stat. 1562, 1580–1583, 1596, 1756, 1759, 1761, 1764, 1790, 1834, 1905; Pub. L. 95–600, title I, § 141(e), (f)(2), title III, §§ 311(a), (c), 312(a), (b), (c)(2), 313(a), 316(a), (b)(1), (2), title VII, § 703(a)(1), (2), (j)(9), Nov. 6, 1978, 92 Stat. 2794, 2795, 2824–2826, 2829, 2939, 2941; Pub. L. 95–618, title II, § 241(a), title III, § 301(a), (c)(1), Nov. 9, 1978, 92 Stat. 3192, 3194, 3199; Pub. L. 96–222, title I, §§ 101(a)(7)(A), (L)(iii)(I), (v)(I), (M)(i), 103(a)(2)(A), (B)(i)–(iii), (3), (4)(A), 107(a)(3)(A), Apr. 1, 1980, 94 Stat. 197, 200, 201, 208, 209, 223; Pub. L. 96–223, title II, §§ 221(a), 222(e)(2), 223(b)(1), Apr. 2, 1980, 94 Stat. 260, 263, 266; Pub. L. 97–34, title II, §§ 207(c)(1), 211(a)(1), (b), (d), (e)(1), (2), (f)(1), 212(a)(1), (2), title III, §§ 302(c)(3), (d)(1), 332(a), Aug. 13, 1981, 95 Stat. 225, 227–229, 235, 236, 272, 274, 296; Pub. L. 97–248, title II, § 201(d)(8)(A), formerly § 201(c)(8)(A), §§ 205(b), 265(b)(2)(A)(i), Sept. 3, 1982, 96 Stat. 420, 430, 547, renumbered § 201(d)(8)(A), Pub. L. 97–448, title III, § 306(a)(1)(A)(i), Jan. 12, 1983, 96 Stat. 2400; Pub. L. 97–354, § 5(a)(4)–(6), Oct. 19, 1982, 96 Stat. 1692; Pub. L. 97–424, title V, §§ 541(b), 546(b), Jan. 6, 1983, 96 Stat. 2192, 2199; Pub. L. 97–448, title I, § 102(e)(1), (f)(5), title II, § 202(f), Jan. 12, 1983, 96 Stat. 2370, 2372, 2396; Pub. L. 98–21, title I, § 122(c)(1), Apr. 20, 1983, 97 Stat. 87; Pub. L. 98–369, div. A, title I, §§ 16(a), 31(f), 113(b)(2)(B), title IV, §§ 431(a), (b)(1), (d)(1)–(3), 474(o)(1)–(7), title VII, § 713(c)(1)(C), July 18, 1984, 98 Stat. 505, 521, 637, 805, 807, 810, 834–836, 957; Pub. L. 99–514, title II, §§ 201(d)(7)(B), 251(a), title IV, § 421(a), (b), title XVIII, §§ 1802(a)(6), (8), 1844(a), (b)(3), (5), 1847(b)(11), 1848(a), Oct. 22, 1986, 100 Stat. 2141, 2183, 2229, 2789, 2855, 2857; Pub. L. 100–647, title I, §§ 1002(a)(4), (15), (17), (25), 1009(a)(1), 1013(a)(44), title IV, § 4006, Nov. 10, 1988, 102 Stat. 3353, 3355, 3356, 3445, 3545, 3652; Pub. L. 101–239, title VII, §§ 7106, 7814(d), Dec. 19, 1989, 103 Stat. 2306, 2413; Pub. L. 101–508, title XI, §§ 11406, 11813(a), Nov. 5, 1990, 104 Stat. 1388–474, 1388–536; Pub. L. 108–357, title III, § 322(d)(1), Oct. 22, 2004, 118 Stat. 1475; Pub. L. 109–58, title XIII, § 1307(a), Aug. 8, 2005, 119 Stat. 999; Pub. L. 111–5, div. B, title I, § 1302(a), Feb. 17, 2009, 123 Stat. 345; Pub. L. 111–148, title IX, § 9023(b), Mar. 23, 2010, 124 Stat. 880; Pub. L. 113–295, div. A, title II, § 220(c), Dec. 19, 2014, 128 Stat. 4035; Pub. L. 117–167, div. A, § 107(d)(1), Aug. 9, 2022, 136 Stat. 1398; Pub. L. 117–169, title I, § 13702(b)(1), Aug. 16, 2022, 136 Stat. 1996.)

history & why it existsrecord from the source credit
  • 1962Enacted · Pub. L. 87-834 · 76 Stat. 963
  • 1964Amended · Pub. L. 88-272 · 78 Stat. 32
  • 1966Amended · Pub. L. 89-384 · 80 Stat. 102
  • 1966Amended · Pub. L. 89-389 · 80 Stat. 114
  • 1966Amended · Pub. L. 89-800 · 80 Stat. 1514
  • 1967Amended · Pub. L. 90-225 · 81 Stat. 731
  • 1969Amended · Pub. L. 91-172 · 83 Stat. 585, 603, 666
  • 1971Amended · Pub. L. 92-178 · 85 Stat. 499, 503, 506, 507
  • 1974Amended · Pub. L. 93-406 · 88 Stat. 957, 968, 991
  • 1975Amended · Pub. L. 94-12 · 89 Stat. 36, 37, 40, 43
  • 1976Amended · Pub. L. 94-455 · 90 Stat. 1562, 1580
  • 1978Amended · Pub. L. 95-600 · 92 Stat. 2794, 2795, 2824
  • 1978Amended · Pub. L. 95-618 · 92 Stat. 3192, 3194, 3199
  • 1980Amended · Pub. L. 96-222 · 94 Stat. 197, 200, 201, 208, 209, 223
  • 1980Amended · Pub. L. 96-223 · 94 Stat. 260, 263, 266
  • 1981Amended · Pub. L. 97-34 · 95 Stat. 225, 227
  • 1982Amended · Pub. L. 97-248 · 96 Stat. 420, 430, 547
  • 1982Amended · Pub. L. 97-354 · 96 Stat. 1692
  • 1983Amended · Pub. L. 97-424 · 96 Stat. 2192, 2199
  • 1983Amended · Pub. L. 97-448 · 96 Stat. 2370, 2372, 2396
  • 1983Amended · Pub. L. 98-21 · 97 Stat. 87
  • 1984Amended · Pub. L. 98-369 · 98 Stat. 505, 521, 637, 805, 807, 810, 834
  • 1986Amended · Pub. L. 99-514 · 100 Stat. 2141, 2183, 2229, 2789, 2855, 2857
  • 1988Amended · Pub. L. 100-647 · 102 Stat. 3353, 3355, 3356, 3445, 3545, 3652
  • 1989Amended · Pub. L. 101-239 · 103 Stat. 2306, 2413
  • 1990Amended · Pub. L. 101-508 · 104 Stat. 1388
  • 2004Amended · Pub. L. 108-357 · 118 Stat. 1475
  • 2005Amended · Pub. L. 109-58 · 119 Stat. 999
  • 2009Amended · Pub. L. 111-5 · 123 Stat. 345
  • 2010Amended · Pub. L. 111-148 · 124 Stat. 880
  • 2014Amended · Pub. L. 113-295 · 128 Stat. 4035
  • 2022Amended · Pub. L. 117-167 · 136 Stat. 1398
  • 2022Amended · Pub. L. 117-169 · 136 Stat. 1996

A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-834 on 1962-10-16.

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