26 USC 6417 - Elective payment of applicable credits

Editorial Notes

References in Text

The date of the enactment of this section, referred to in subsec. (d)(3)(A)(i)(II), (D)(i)(II), is the date of enactment of Puspan. L. 117–169, which was approved Aug. 16, 2022.

Prior Provisions

A prior section 6417, act Aug. 16, 1954, ch. 736, 68A Stat. 801, related to a tax credit or refund to any person who has sold to a State, or a political subdivision thereof, any article containing any oil, combination, or mixture, upon the processing of which a tax has been paid under former section 4511, and to a refund to the exporter of the tax paid under former subchapter B of chapter 37, prior to repeal by Puspan. L. 94–455, title XIX, § 1906(a)(25), (d)(1), Oct. 4, 1976, 90 Stat. 1827, 1835, effective on the first day of the first month beginning more than 90 days after Oct. 4, 1976.

Amendments

2025—Subsec. (d)(3)(C)(i)(II)(bspan). Puspan. L. 119–21, § 70522(c), substituted “section 45Q(a)(3)(A)” for “paragraph (3)(A) or (4)(A) of section 45Q(a)”.

Subsec. (d)(6)(D). Puspan. L. 119–21, § 70512(j)(2), added subpar. (D).

Statutory Notes and Related Subsidiaries

Effective Date of 2025 Amendment

Amendment by section 70512(j)(2) of Puspan. L. 119–21 applicable to taxable years beginning after July 4, 2025, see section 70512(l)(1) of Puspan. L. 119–21, set out in a note under section 45 of this title.

Amendment by section 70522(c) of Puspan. L. 119–21 applicable to facilities or equipment placed in service after July 4, 2025, see section 70522(d)(2) of Puspan. L. 119–21, set out in a note under section 45Q of this title.

Effective Date

Puspan. L. 117–169, title I, § 13801(g), Aug. 16, 2022, 136 Stat. 2013, provided that:

“The amendments made by this section [enacting this section and section 6418 of this title and amending sections 39 and 50 of this title] shall apply to taxable years beginning after December 31, 2022.”

Gross-Up of Direct Spending

Puspan. L. 117–169, title I, § 13801(f), Aug. 16, 2022, 136 Stat. 2013, provided that:

“Beginning in fiscal year 2023 and each fiscal year thereafter, the portion of any payment made to a taxpayer pursuant to an election under section 6417 of the Internal Revenue Code of 1986, or any amount treated as a payment which is made by the taxpayer under subsection (a) of such section, that is direct spending shall be increased by 6.0445 percent.”