zero-emission credit program
(2) Reduction amount (A) In general For purposes of this section, the term “reduction amount” means, with respect to any qualified nuclear power facility for any taxable year, the amount equal to the lesser of— (i) the amount determined under subsection (a)(1), or (ii) the amount equal to 16 percent of the excess of— (I) subject to subparagraph (B), the gross receipts from any electricity produced by such facility (including any electricity services or products provided in conjunction with the electricity produced by such facility) and sold to an unrelated person during such taxable year, over (II) the amount equal to the product of— (aa) 2.5 cents, multiplied by (bb) the amount determined under subsection (a)(1)(B). (B) Treatment of certain receipts (i) In general Subject to clause (iii), the amount determined under subparagraph (A)(ii)(I) shall include any amount received by the taxpayer during the taxable year with respect to the qualified nuclear power facility from a zero-emission credit program. For purposes of determining the amount received during such taxable year, the taxpayer shall take into account any reductions required under such program. (ii) Zero-emission credit program For purposes of this subparagraph, the term “zero-emission credit program” means any payments with respect to a qualified nuclear power facility as a result of any Federal, State or local government program for, in whole or in part, the zero-emission, zero-carbon, or air quality attributes of any portion of the electricity produced by such facility. (iii) Exclusion For purposes of clause (i), any amount received by the taxpayer from a zero-emission credit program shall be excluded from the amount determined under subparagraph (A)(ii)(I) if the full amount of the credit calculated pursuant to subsection (a) (determined without regard to this subparagraph) is used to reduce payments from such zero-emission credit program.