(a)
For purposes of this chapter, the term—
(1) “small hydroelectric power project” means any hydroelectric power project which is located at the site of any existing dam, which uses the water power potential of such dam, and which has not more than 30,000 kilowatts of installed capacity;
(2) “electric cooperative” means any cooperative association eligible to receive loans under section 904 of title 7;
(3) “industrial development agency” means any agency which is permitted to issue obligations the interest on which is excludable from gross income under section 103 of title 26;
(4) “project costs” means the cost of acquisiiton or construction of all facilities and services and the cost of acquisition of all land and interests in land used in the design and construction and operation of a small hydroelectric power project;
So in original. Probably should be “acquisition”.
(5) “nonprofit organization” means any organization described in section 501(c)(3) or 501(c)(4) of title 26 and exempt from tax under section 501(a) of title 26 (but only with respect to a trade or business carried on by such organization which is not an unrelated trade or business, determined by applying section 513(a) of title 26 to such organization);
(6) “existing dam” means any dam, the construction of which was completed or on before July 22, 2005, and which does not require any construction or enlargement of impoundment structures (other than repairs or reconstruction) in connection with the installation of any small hydroelectric power project;
So in original. Probably should be “on or”.
(7) “municipality” has the meaning provided in section 796 of this title; and
(8) “person” has the meaning provided in section 796 of this title.
References in Text
The Commission, referred to in subsec. (b), means the Federal Energy Regulatory Commission, see section 2602(3) of this title.
Amendments
2005—Subsec. (a)(6). Pub. L. 109–58 substituted “July 22, 2005” for “April 20, 1977”.
1986—Subsec. (a)(3), (5). Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.
1980—Subsec. (a). Pub. L. 96–294, § 408(a), (c)(1), designated existing provisions as subsec. (a) and, as so designated, in par. (1) substituted “30,000” for “15,000”.
Subsec. (b). Pub. L. 96–294, § 408(c)(2), added subsec. (b).