Paragraph 22 Tax equity partnerships

Section 176F (flow-through tax benefits: subtraction method) is amended as follows.

In Step 2, in paragraph (a), for the words from “other than” to the end substitute

“other than tax credits—

1. (i)

   that were made available in the accounting period, and

2. (ii)

   that are not qualifying refundable tax credits or marketable transferable tax credits;”.

In Step 3, for “under arrangement” substitute “under the arrangement”.