# Bulletin No. 2024–24

> Briefs, arguments, decisions, and more.

URL: https://www.frixlaw.com/law-library/documents/agency%3Airs%3A3cd1ecaefbe7a13f

## Record

- **Collection:** Agency decision
- **Document type:** Agency decision

## Text

HIGHLIGHTS
OF THIS ISSUE




Bulletin No. 2024–24
June 10, 2024

These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.

ADMINISTRATIVE
Rev. Rul. 2024-11, page 1459.

Interest rates: underpayments and overpayments. The
rates for interest determined under Section 6621 of the
code for the calendar quarter beginning July 1, 2024, will
be 8 percent for overpayments (7 percent in the case of a
corporation), 8 percent for underpayments, and 10 percent
for large corporate underpayments. The rate of interest
paid on the portion of a corporate overpayment exceeding
$10,000 will be 5.5 percent.

EMPLOYEE PLANS
Notice 2024-40, page 1612.

This notice sets forth updates on the corporate bond
monthly yield curve, the corresponding spot segment rates
for April 2024 used under § 417(e)(3)(D), the 24-month
average segment rates applicable for May 2024, and the
30-year Treasury rates, as reflected by the application of §
430(h)(2)(C)(iv).

EXEMPT ORGANIZATIONS
Announcement 2024-22, page 1673.

Revocation of IRC 501(c)(3) Organizations for failure to
meet the code section requirements. Contributions made to
the organizations by individual donors are no longer deductible under IRC 170(b)(1)(A).

Announcement 2024-23, page 1674.

The Internal Revenue Service has revoked its determination that Functional Health Inc qualifies as an organization
described in sections 501(c )(3) and 170(c )(2) of the Internal Revenue Code of 1986. The revocation is effective January 31, 2018. If a suite for declaratory judgment has been

Finding Lists begin on page ii.

timely filed, contributions from individuals and organizations
described in section 170(c )(2) that are otherwise allowable will continue to be deductible. Protection under section
7428(c ) would begin on January 1, 2018 and would end on
the date the court first determines the organization is not
described in section 170(c )(2) as more particularly set for
in section 7428(c )(1). For individual contributions, the maximum deduction protected is $1,000, with a husband and
wife treated as one contributor. This benefit is not extended
to any individual, in whole or in part, for the acts or omissions of the organization that were the basis for revocation.

INCOME TAX
Announcement 2024-24, page 1675.

This announcement notifies taxpayers of the applicable Reference Standard 90.1 required under § 179D(c)(2) of the
Internal Revenue Code as part of the definition of energy efficient commercial building property (EECBP). This announcement supplements and supersedes Announcement 2023-1,
2023-3 I.R.B. 422 (2023), by affirming ASHRAE/IES Reference Standard 90.1-2022 as the applicable Reference
Standard 90.1 for EECBP placed in service after December
31, 2028, and the construction of which did not begin by
December 31, 2022.

Notice 2024-36, page 1479.

This notice clarifies and amplifies the previously established
§ 48C(e) guidance and allocation procedures published in
Notices 2023-18 and 2023-44 by announcing the second
round of credit allocations under the § 48C(e) program to
allocate approximately $6 billion of § 48C credits, with
approximately $2.4 billion in § 48C credits to be allocated
to projects located in § 48C(e) Energy Communities Census
Tracts. The notice also updates appendices A, B and C.
Appendix A and B clarify § 48C(e) program priorities for this
second round of allocations. Appendix C updates the list of
§ 48C(e) Energy Communities Census Tracts.

Notice 2024-39, page 1611.

This notice publishes the inflation adjustment factor for the
carbon oxide sequestration credit under § 45Q for calendar year 2024. The inflation adjustment factor is used to
determine the amount of the credit allowable under § 45Q
for taxpayers that make an election under § 45Q(b)(3) to
have the dollar amounts applicable under § 45Q(a)(1) or
(2) apply. This notice also obsoletes Notice 2009-83 and
Notice 2011-25.

Notice 2024-41, page 1615.

This notice modifies the existing domestic content safe
harbor in Notice 2023-38, 2023-22 I.R.B. 872, by expanding the non-exclusive list of “Applicable Projects” in “Table
2--Categorization of Applicable Project Components” from
Notice 2023-38 to include hydropower and pumped hydropower storage facilities, redesignating the “Utility scale photovoltaic system” Applicable Project as “Ground-mount and
rooftop photovoltaic system,” and including certain Manufactured Product Components for previously listed Applicable Projects for the domestic content bonus credit amounts
under §§ 45, 45Y, 48, and 48E of the Internal Revenue
Code. The notice also provides a new elective safe harbor
that taxpayers may use to classify Applicable Project Com-

ponents and to calculate the Domestic Cost Percentage in
an Applicable Project to qualify for the domestic content
bonus credit amounts, and requests comments regarding
the new elective safe harbor to inform the development of
any future updates.

REG-124850-08, page 1624.

U.S. persons must report information about, and pay
income taxes with respect to, certain transactions with foreign trusts. U.S. persons also must report information to
the IRS when they receive large gifts, bequests, devises, or
inheritances (foreign gifts) from foreign persons. The proposed regulations describe the transactions and the foreign
gifts that must be reported to the IRS, as well as identify
the U.S. persons who must report them and pay any corresponding income taxes. U.S. persons who fail to timely
report this information to the IRS are subject to significant
penalties, and the proposed regulations provide guidance
regarding these penalties. Additionally, U.S. persons are
treated as the owners of certain foreign trusts that have
U.S. beneficiaries. The proposed regulations explain which
foreign trusts have U.S. beneficiaries and identify the U.S.
persons who are treated as the owners of these foreign
trusts. REG-124850-08. Published May 8, 2024.

The IRS Mission
Provide America’s taxpayers top-quality service by helping
them understand and meet their tax responsibilities and
enforce the law with integrity and fairness to all.

Introduction
The Internal Revenue Bulletin is the authoritative instrument
of the Commissioner of Internal Revenue for announcing official rulings and procedures of the Internal Revenue Service
and for publishing Treasury Decisions, Executive Orders, Tax
Conventions, legislation, court decisions, and other items of
general interest. It is published weekly.
It is the policy of the Service to publish in the Bulletin all substantive rulings necessary to promote a uniform application
of the tax laws, including all rulings that supersede, revoke,
modify, or amend any of those previously published in the
Bulletin. All published rulings apply retroactively unless otherwise indicated. Procedures relating solely to matters of internal management are not published; however, statements of
internal practices and procedures that affect the rights and
duties of taxpayers are published.
Revenue rulings represent the conclusions of the Service
on the application of the law to the pivotal facts stated in
the revenue ruling. In those based on positions taken in rulings to taxpayers or technical advice to Service field offices,
identifying details and information of a confidential nature are
deleted to prevent unwarranted invasions of privacy and to
comply with statutory requirements.
Rulings and procedures reported in the Bulletin do not have the
force and effect of Treasury Department Regulations, but they
may be used as precedents. Unpublished rulings will not be
relied on, used, or cited as precedents by Service personnel in
the disposition of other cases. In applying published rulings and
procedures, the effect of subsequent legislation, regulations,
court decisions, rulings, and procedures must be considered,
and Service personnel and others concerned are cautioned

against reaching the same conclusions in other cases unless
the facts and circumstances are substantially the same.
The Bulletin is divided into four parts as follows:
Part I.—1986 Code.
This part includes rulings and decisions based on provisions
of the Internal Revenue Code of 1986.
Part II.—Treaties and Tax Legislation.
This part is divided into two subparts as follows: Subpart A,
Tax Conventions and Other Related Items, and Subpart B,
Legislation and Related Committee Reports.
Part III.—Administrative, Procedural, and Miscellaneous.
To the extent practicable, pertinent cross references to these
subjects are contained in the other Parts and Subparts. Also
included in this part are Bank Secrecy Act Administrative
Rulings. Bank Secrecy Act Administrative Rulings are issued
by the Department of the Treasury’s Office of the Assistant
Secretary (Enforcement).
Part IV.—Items of General Interest.
This part includes notices of proposed rulemakings, disbarment and suspension lists, and announcements.
The last Bulletin for each month includes a cumulative index
for the matters published during the preceding months. These
monthly indexes are cumulated on a semiannual basis, and are
published in the last Bulletin of each semiannual period.

The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.

June 10, 2024 

Bulletin No. 2024–24

Part I
Section 6621.—
Determination of Rate of
Interes
26 CFR 301.6621-1: Interest rate.

Rev. Rul. 2024-11
Section 6621 of the Internal Revenue Code establishes the interest rates
on overpayments and underpayments of
tax. Under section 6621(a)(1), the overpayment rate is the sum of the federal
short-term rate plus 3 percentage points (2
percentage points in the case of a corporation), except the rate for the portion of
a corporate overpayment of tax exceeding
$10,000 for a taxable period is the sum
of the federal short-term rate plus 0.5 of
a percentage point. Under section 6621(a)
(2), the underpayment rate is the sum of
the federal short-term rate plus 3 percentage points.
Section 6621(c) provides that for purposes of interest payable under section
6601 on any large corporate underpayment, the underpayment rate under section
6621(a)(2) is determined by substituting
“5 percentage points” for “3 percentage
points.” See section 6621(c) and section
301.6621-3 of the Regulations on Procedure and Administration for the definition
of a large corporate underpayment and
for the rules for determining the applicable date. Section 6621(c) and section
301.6621-3 are generally effective for
periods after December 31, 1990.
Section 6621(b)(1) provides that the
Secretary will determine the federal short-

Bulletin No. 2024–24

term rate for the first month in each calendar quarter. Section 6621(b)(2)(A)
provides that the federal short-term rate
determined under section 6621(b)(1) for
any month applies during the first calendar quarter beginning after that month.
Section 6621(b)(3) provides that the federal short-term rate for any month is the
federal short-term rate determined during
that month by the Secretary in accordance
with section 1274(d), rounded to the nearest full percent (or, if a multiple of 1/2 of
1 percent, the rate is increased to the next
highest full percent).
Notice 88-59, 1988-1 C.B. 546,
announced that in determining the quarterly interest rates to be used for overpayments and underpayments of tax under
section 6621, the Internal Revenue Service will use the federal short-term rate
based on daily compounding because that
rate is most consistent with section 6621
which, pursuant to section 6622, is subject
to daily compounding.
The federal short-term rate determined in accordance with section
1274(d) during April 2024 is the rate
published in Revenue Ruling 2024-9,
2024-19 IRB 964, to take effect beginning May 1, 2024. The federal short-term
rate, rounded to the nearest full percent,
based on daily compounding determined
during the month of April 2024 is 5 percent. Accordingly, an overpayment rate
of 8 percent (7 percent in the case of a
corporation) and an underpayment rate
of 8 percent are established for the calendar quarter beginning July 1, 2024. The
overpayment rate for the portion of a corporate overpayment exceeding $10,000

1459

for the calendar quarter beginning July 1,
2024, is 5.5 percent. The underpayment
rate for large corporate underpayments
for the calendar quarter beginning July 1,
2024, is 10 percent. These rates apply to
amounts bearing interest during that calendar quarter.
Sections 6654(a)(1) and 6655(a)
(1) provide that the underpayment rate
established under section 6621 applies
in determining the addition to tax under
sections 6654 and 6655 for failure to pay
estimated tax for any taxable year. Thus,
the 8 percent rate also applies to estimated
tax underpayments for the third calendar
quarter beginning July 1, 2024. In addition, pursuant to section 6603(d)(4), the
rate of interest on section 6603 deposits is
5 percent for the third calendar quarter in
2024.
Interest factors for daily compound
interest for annual rates of 5.5 percent, 7
percent, 8 percent and 10 percent are published in Tables 64, 67, 69 and 73 of Rev.
Proc. 95-17, 1995-1 C.B. 618, 621, 623,
and 627.
Annual interest rates to be compounded
daily pursuant to section 6622 that apply
for prior periods are set forth in the tables
accompanying this revenue ruling.
DRAFTING INFORMATION
The principal author of this revenue
ruling is Casey R. Conrad of the Office of
the Associate Chief Counsel (Procedure
and Administration). For further information regarding this revenue ruling, contact
Mr. Conrad at (202) 317-6844 (not a tollfree call).

June 10, 2024

APPENDIX A

Days
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

Factor
0.000013699
0.000027397
0.000041096
0.000054796
0.000068495
0.000082195
0.000095894
0.000109594
0.000123294
0.000136995
0.000150695
0.000164396
0.000178097
0.000191798
0.000205499
0.000219201
0.000232902
0.000246604
0.000260306
0.000274008
0.000287711

365 Day Year
0.5% Compound Rate 184 Days
Days
Factor
63
0.000863380
64
0.000877091
65
0.000890801
66
0.000904512
67
0.000918223
68
0.000931934
69
0.000945646
70
0.000959357
71
0.000973069
72
0.000986781
73
0.001000493
74
0.001014206
75
0.001027918
76
0.001041631
77
0.001055344
78
0.001069057
79
0.001082770
80
0.001096484
81
0.001110197
82
0.001123911
83
0.001137625

22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41

0.000301413
0.000315116
0.000328819
0.000342522
0.000356225
0.000369929
0.000383633
0.000397336
0.000411041
0.000424745
0.000438449
0.000452154
0.000465859
0.000479564
0.000493269
0.000506974
0.000520680
0.000534386
0.000548092
0.000561798

84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103

June 10, 2024

0.001151339
0.001165054
0.001178768
0.001192483
0.001206198
0.001219913
0.001233629
0.001247344
0.001261060
0.001274776
0.001288492
0.001302208
0.001315925
0.001329641
0.001343358
0.001357075
0.001370792
0.001384510
0.001398227
0.001411945

1460

Days
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145

Factor
0.001713784
0.001727506
0.001741228
0.001754951
0.001768673
0.001782396
0.001796119
0.001809843
0.001823566
0.001837290
0.001851013
0.001864737
0.001878462
0.001892186
0.001905910
0.001919635
0.001933360
0.001947085
0.001960811
0.001974536
0.001988262

146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165

0.002001988
0.002015714
0.002029440
0.002043166
0.002056893
0.002070620
0.002084347
0.002098074
0.002111801
0.002125529
0.002139257
0.002152985
0.002166713
0.002180441
0.002194169
0.002207898
0.002221627
0.002235356
0.002249085
0.002262815

Bulletin No. 2024–24

42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62

0.000575504
0.000589211
0.000602917
0.000616624
0.000630331
0.000644039
0.000657746
0.000671454
0.000685161
0.000698869
0.000712578
0.000726286
0.000739995
0.000753703
0.000767412
0.000781121
0.000794831
0.000808540
0.000822250
0.000835960
0.000849670

Bulletin No. 2024–24

104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124

0.001425663
0.001439381
0.001453100
0.001466818
0.001480537
0.001494256
0.001507975
0.001521694
0.001535414
0.001549133
0.001562853
0.001576573
0.001590293
0.001604014
0.001617734
0.001631455
0.001645176
0.001658897
0.001672619
0.001686340
0.001700062

1461

166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184

0.002276544
0.002290274
0.002304004
0.002317734
0.002331465
0.002345195
0.002358926
0.002372657
0.002386388
0.002400120
0.002413851
0.002427583
0.002441315
0.002455047
0.002468779
0.002482511
0.002496244
0.002509977
0.002523710

June 10, 2024

Days
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42

June 10, 2024

Factor
0.000013661
0.000027323
0.000040984
0.000054646
0.000068308
0.000081970
0.000095632
0.000109295
0.000122958
0.000136620
0.000150283
0.000163947
0.000177610
0.000191274
0.000204938
0.000218602
0.000232266
0.000245930
0.000259595
0.000273260
0.000286924
0.000300590
0.000314255
0.000327920
0.000341586
0.000355252
0.000368918
0.000382584
0.000396251
0.000409917
0.000423584
0.000437251
0.000450918
0.000464586
0.000478253
0.000491921
0.000505589
0.000519257
0.000532925
0.000546594
0.000560262
0.000573931

366 Day Year
0.5% Compound Rate 184 Days
Days
Factor
63
0.000861020
64
0.000874693
65
0.000888366
66
0.000902040
67
0.000915713
68
0.000929387
69
0.000943061
70
0.000956735
71
0.000970409
72
0.000984084
73
0.000997758
74
0.001011433
75
0.001025108
76
0.001038783
77
0.001052459
78
0.001066134
79
0.001079810
80
0.001093486
81
0.001107162
82
0.001120839
83
0.001134515
84
0.001148192
85
0.001161869
86
0.001175546
87
0.001189223
88
0.001202900
89
0.001216578
90
0.001230256
91
0.001243934
92
0.001257612
93
0.001271291
94
0.001284969
95
0.001298648
96
0.001312327
97
0.001326006
98
0.001339685
99
0.001353365
100
0.001367044
101
0.001380724
102
0.001394404
103
0.001408085
104
0.001421765

1462

Days
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166

Factor
0.001709097
0.001722782
0.001736467
0.001750152
0.001763837
0.001777522
0.001791208
0.001804893
0.001818579
0.001832265
0.001845951
0.001859638
0.001873324
0.001887011
0.001900698
0.001914385
0.001928073
0.001941760
0.001955448
0.001969136
0.001982824
0.001996512
0.002010201
0.002023889
0.002037578
0.002051267
0.002064957
0.002078646
0.002092336
0.002106025
0.002119715
0.002133405
0.002147096
0.002160786
0.002174477
0.002188168
0.002201859
0.002215550
0.002229242
0.002242933
0.002256625
0.002270317

Bulletin No. 2024–24

43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62

0.000587600
0.000601269
0.000614939
0.000628608
0.000642278
0.000655948
0.000669618
0.000683289
0.000696959
0.000710630
0.000724301
0.000737972
0.000751643
0.000765315
0.000778986
0.000792658
0.000806330
0.000820003
0.000833675
0.000847348

Bulletin No. 2024–24

105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124

0.001435446
0.001449127
0.001462808
0.001476489
0.001490170
0.001503852
0.001517533
0.001531215
0.001544897
0.001558580
0.001572262
0.001585945
0.001599628
0.001613311
0.001626994
0.001640678
0.001654361
0.001668045
0.001681729
0.001695413

1463

167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184

0.002284010
0.002297702
0.002311395
0.002325087
0.002338780
0.002352473
0.002366167
0.002379860
0.002393554
0.002407248
0.002420942
0.002434636
0.002448331
0.002462025
0.002475720
0.002489415
0.002503110
0.002516806

June 10, 2024

TABLE OF INTEREST RATES
PERIODS BEFORE JUL. 1, 1975 – PERIODS ENDING DEC. 31, 1986
OVERPAYMENTS AND UNDERPAYMENTS
PERIOD
Before Jul. 1, 1975
Jul. 1, 1975–Jan. 31, 1976
Feb. 1, 1976–Jan. 31, 1978
Feb. 1, 1978–Jan. 31, 1980
Feb. 1, 1980–Jan. 31, 1982
Feb. 1, 1982–Dec. 31, 1982
Jan. 1, 1983–Jun. 30, 1983
Jul. 1, 1983–Dec. 31, 1983
Jan. 1, 1984–Jun. 30, 1984
Jul. 1, 1984–Dec. 31, 1984
Jan. 1, 1985–Dec. 31, 1985
Jul. 1, 1985–Dec. 31, 1985
Jan. 1, 1986–Jun. 30, 1986
Jul. 1, 1986–Dec. 31, 1986

Jan. 1, 1987–Mar. 31, 1987
Apr. 1, 1987–Jun. 30, 1987
Jul. 1, 1987–Sep. 30, 1987
Oct. 1, 1987–Dec. 31, 1987
Jan. 1, 1988–Mar. 31, 1988
Apr. 1, 1988–Jun. 30, 1988
Jul. 1, 1988–Sep. 30, 1988
Oct. 1, 1988–Dec. 31, 1988
Jan. 1, 1989–Mar. 31, 1989
Apr. 1, 1989–Jun. 30, 1989
Jul. 1, 1989–Sep. 30, 1989
Oct. 1, 1989–Dec. 31, 1989
Jan. 1, 1990–Mar. 31, 1990
Apr. 1, 1990–Jun. 30, 1990
Jul. 1, 1990–Sep. 30, 1990
Oct. 1, 1990–Dec. 31, 1990
Jan. 1, 1991–Mar. 31, 1991
Apr. 1, 1991–Jun. 30, 1991
Jul. 1, 1991–Sep. 30, 1991
Oct. 1, 1991–Dec. 31, 1991
Jan. 1, 1992–Mar. 31, 1992
Apr. 1, 1992–Jun. 30, 1992

June 10, 2024

RATE
6%
Table
9%
Table
7%
Table
6%
Table
12%
Table
20%
Table
16%
Table
11%
Table
11%
Table
11%
Table
13%
Table
11%
Table
10%
Table
9%
Table
TABLE OF INTEREST RATES
FROM JAN. 1, 1987 – Dec. 31, 1998

RATE
8%
8%
8%
9%
10%
9%
9%
10%
10%
11%
11%
10%
10%
10%
10%
10%
10%
9%
9%
9%
8%
7%

OVERPAYMENTS
1995-1 C.B.
TABLE
PG
21
575
21
575
21
575
23
577
73
627
71
625
71
625
73
627
25
579
27
581
27
581
25
579
25
579
25
579
25
579
25
579
25
579
23
577
23
577
23
577
69
623
67
621

1464

In 1995-1 C.B.
DAILY RATE TABLE
2,
pg.
4,
pg.
3,
pg.
2,
pg.
5,
pg.
6,
pg.
37,
pg.
27,
pg.
75,
pg.
75,
pg.
31,
pg.
27,
pg.
25,
pg.
23,
pg.

557
559
558
557
560
560
591
581
629
629
585
581
579
577

UNDERPAYMENTS
1995-1 C.B. RATE
RATE
TABLE
PG
9%
23
577
9%
23
577
9%
23
577
10%
25
579
11%
75
629
10%
73
627
10%
73
627
11%
75
629
11%
27
581
12%
29
583
12%
29
583
11%
27
581
11%
27
581
11%
27
581
11%
27
581
11%
27
581
11%
27
581
10%
25
579
10%
25
579
10%
25
579
9%
71
625
8%
69
623

Bulletin No. 2024–24

Jul. 1, 1992–Sep. 30, 1992
Oct. 1, 1992–Dec. 31, 1992
Jan. 1, 1993–Mar. 31, 1993
Apr. 1, 1993–Jun. 30, 1993
Jul. 1, 1993–Sep. 30, 1993
Oct. 1, 1993–Dec. 31, 1993
Jan. 1, 1994–Mar. 31, 1994
Apr. 1, 1994–Jun. 30, 1994
Jul. 1, 1994–Sep. 30, 1994
Oct. 1, 1994–Dec. 31, 1994
Jan. 1, 1995–Mar. 31, 1995
Apr. 1, 1995–Jun. 30, 1995
Jul. 1, 1995–Sep. 30, 1995
Oct. 1, 1995–Dec. 31, 1995
Jan. 1, 1996–Mar. 31, 1996
Apr. 1, 1996–Jun. 30, 1996
Jul. 1, 1996–Sep. 30, 1996
Oct. 1, 1996–Dec. 31, 1996
Jan. 1, 1997–Mar. 31, 1997
Apr. 1, 1997–Jun. 30, 1997
Jul. 1, 1997–Sep. 30, 1997
Oct. 1, 1997–Dec. 31, 1997
Jan. 1, 1998–Mar. 31, 1998
Apr. 1, 1998–Jun. 30, 1998
Jul. 1, 1998–Sep. 30, 1998
Oct. 1, 1998–Dec. 31, 1998

Bulletin No. 2024–24

7%
6%
6%
6%
6%
6%
6%
6%
7%
8%
8%
9%
8%
8%
8%
7%
8%
8%
8%
8%
8%
8%
8%
7%
7%
7%

67
65
17
17
17
17
17
17
19
21
21
23
21
21
69
67
69
69
21
21
21
21
21
19
19
19

1465

621
619
571
571
571
571
571
571
573
575
575
577
575
575
623
621
623
623
575
575
575
575
575
573
573
573

8%
7%
7%
7%
7%
7%
7%
7%
8%
9%
9%
10%
9%
9%
9%
8%
9%
9%
9%
9%
9%
9%
9%
8%
8%
8%

69
67
19
19
19
19
19
19
21
23
23
25
23
23
71
69
71
71
23
23
23
23
23
21
21
21

623
621
573
573
573
573
573
573
575
577
577
579
577
577
625
623
625
625
577
577
577
577
577
575
575
575

June 10, 2024

TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 – PRESENT
NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
1995-1 C.B.
Jan. 1, 1999–Mar. 31, 1999
Apr. 1, 1999–Jun. 30, 1999
Jul. 1, 1999–Sep. 30, 1999
Oct. 1, 1999–Dec. 31, 1999
Jan. 1, 2000–Mar. 31, 2000
Apr. 1, 2000–Jun. 30, 2000
Jul. 1, 2000–Sep. 30, 2000
Oct. 1, 2000–Dec. 31, 2000
Jan. 1, 2001–Mar. 31, 2001
Apr. 1, 2001–Jun. 30, 2001
Jul. 1, 2001–Sep. 30, 2001
Oct. 1, 2001–Dec. 31, 2001
Jan. 1, 2002–Mar. 31, 2002
Apr. 1, 2002–Jun. 30, 2002
Jul. 1, 2002–Sep. 30, 2002
Oct. 1, 2002–Dec. 31, 2002
Jan. 1, 2003–Mar. 31, 2003
Apr. 1, 2003–Jun. 30, 2003
Jul. 1, 2003–Sep. 30, 2003
Oct. 1, 2003–Dec. 31, 2003
Jan. 1, 2004–Mar. 31, 2004
Apr. 1, 2004–Jun. 30, 2004
Jul. 1, 2004–Sep. 30, 2004
Oct. 1, 2004–Dec. 31, 2004
Jan. 1, 2005–Mar. 31, 2005
Apr. 1, 2005–Jun. 30, 2005
Jul. 1, 2005–Sep. 30, 2005
Oct. 1, 2005–Dec. 31, 2005
Jan. 1, 2006–Mar. 31, 2006
Apr. 1, 2006–Jun. 30, 2006
Jul. 1, 2006–Sep. 30, 2006
Oct. 1, 2006–Dec. 31, 2006
Jan. 1, 2007–Mar. 31, 2007
Apr. 1, 2007–Jun. 30, 2007
Jul. 1, 2007–Sep. 30, 2007
Oct. 1, 2007–Dec. 31, 2007
Jan. 1, 2008–Mar. 31, 2008
Apr. 1, 2008–Jun. 30, 2008
Jul. 1, 2008–Sep. 30, 2008
Oct. 1, 2008–Dec. 31, 2008
Jan. 1, 2009–Mar. 31, 2009

RATE
7%
8%
8%
8%
8%
9%
9%
9%
9%
8%
7%
7%
6%
6%
6%
6%
5%
5%
5%
4%
4%
5%
4%
5%
5%
6%
6%
7%
7%
7%
8%
8%
8%
8%
8%
8%
7%
6%
5%
6%
5%

June 10, 2024

1466

TABLE
19
21
21
21
69
71
71
71
23
21
19
19
17
17
17
17
15
15
15
13
61
63
61
63
15
17
17
19
19
19
21
21
21
21
21
21
67
65
63
65
15

PAGE
573
575
575
575
623
625
625
625
577
575
573
573
571
571
571
571
569
569
569
567
615
617
615
617
569
571
571
573
573
573
575
575
575
575
575
575
621
619
617
619
569

Bulletin No. 2024–24

Apr. 1, 2009–Jun. 30, 2009
Jul. 1, 2009–Sep. 30, 2009
Oct. 1, 2009–Dec. 31, 2009
Jan. 1, 2010–Mar. 31, 2010
Apr. 1, 2010–Jun. 30, 2010
Jul. 1, 2010–Sep. 30, 2010
Oct. 1, 2010–Dec. 31, 2010
Jan. 1, 2011–Mar. 31, 2011
Apr. 1, 2011–Jun. 30, 2011
Jul. 1, 2011–Sep. 30, 2011
Oct. 1, 2011–Dec. 31, 2011
Jan. 1, 2012–Mar. 31, 2012
Apr. 1, 2012–Jun. 30, 2012
Jul. 1, 2012–Sep. 30, 2012
Oct. 1, 2012–Dec. 31, 2012
Jan. 1, 2013–Mar. 31, 2013
Apr. 1, 2013–Jun. 30, 2013
Jul. 1, 2013–Sep. 30, 2013
Oct. 1, 2013–Dec. 31, 2013
Jan. 1, 2014–Mar. 31, 2014
Apr. 1, 2014–Jun. 30, 2014
Jul. 1, 2014–Sep. 30, 2014
Oct. 1, 2014–Dec. 31, 2014
Jan. 1, 2015–Mar. 31, 2015
Apr. 1, 2015–Jun. 30, 2015
Jul. 1, 2015–Sep. 30, 2015
Oct. 1, 2015–Dec. 31, 2015
Jan. 1, 2016–Mar. 31, 2016
Apr. 1, 2016–Jun. 30, 2016
Jul. 1, 2016–Sep. 30, 2016
Oct. 1, 2016–Dec. 31, 2016
Jan. 1, 2017–Mar. 31, 2017
Apr. 1, 2017–Jun. 30, 2017
Jul. 1, 2017–Sep. 30, 2017
Oct. 1, 2017–Dec. 31, 2017
Jan. 1, 2018–Mar. 31, 2018
Apr. 1, 2018–Jun. 30, 2018
Jul. 1, 2018–Sep. 30, 2018
Oct. 1, 2018–Dec. 31, 2018
Jan. 1, 2019–Mar. 31, 2019
Apr. 1, 2019–Jun. 30, 2019
Jul. 1, 2019–Sep. 30, 2019
Oct. 1, 2019–Dec. 31, 2019
Jan. 1, 2020–Mar. 31, 2020
Apr. 1, 2020–Jun. 30, 2020

4%
4%
4%
4%
4%
4%
4%
3%
4%
4%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
5%
5%
5%
6%
6%
5%
5%
5%
5%

Bulletin No. 2024–24

1467

13
13
13
13
13
13
13
11
13
13
11
59
59
59
59
11
11
11
11
11
11
11
11
11
11
11
11
59
61
61
61
13
13
13
13
13
15
15
15
17
17
15
15
63
63

567
567
567
567
567
567
567
565
567
567
565
613
613
613
613
565
565
565
565
565
565
565
565
565
565
565
565
613
615
615
615
567
567
567
567
567
569
569
569
571
571
569
569
617
617

June 10, 2024

Jul. 1, 2020–Sep. 30, 2020
Oct. 1, 2020–Dec. 31, 2020
Jan. 1, 2021–Mar. 31, 2021
Apr. 1, 2021–Jun. 30, 2021
Jul. 1, 2021–Sep. 30, 2021
Oct. 1, 2021–Dec. 31, 2021
Jan. 1, 2022–Mar. 31, 2022
Apr. 1, 2022–Jun. 30, 2022
Jul. 1, 2022–Sep. 30, 2022
Oct. 1, 2022–Dec. 31, 2022
Jan. 1, 2023–Mar. 31, 2023
Apr. 1, 2023–Jun. 30, 2023
Jul. 1, 2023–Sep. 30, 2023
Oct. 1, 2023–Dec. 31, 2023
Jan. 1, 2024–Mar. 31, 2024
Apr. 1, 2024–Jun. 30, 2024
Jul. 1, 2024–Sep. 30, 2024

3%
3%
3%
3%
3%
3%
3%
4%
5%
6%
7%
7%
7%
8%
8%
8%
8%

June 10, 2024

1468

59
59
11
11
11
11
11
13
15
17
19
19
19
21
69
69
69

613
613
565
565
565
565
565
567
569
571
573
573
573
575
623
623
623

Bulletin No. 2024–24

TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 – PRESENT
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS

Jan. 1, 1999–Mar. 31, 1999
Apr. 1, 1999–Jun. 30, 1999
Jul. 1, 1999–Sep. 30, 1999
Oct. 1, 1999–Dec. 31, 1999
Jan. 1, 2000–Mar. 30, 2000
Apr. 1, 2000–Jun. 30, 2000
Jul. 1, 2000–Sep. 30, 2000
Oct. 1, 2000–Dec. 31, 2000
Jan. 1, 2001–Mar. 31, 2001
Apr. 1, 2001–Jun. 30, 2001
Jul. 1, 2001–Sep. 30, 2001
Oct. 1, 2001–Dec. 31, 2001
Jan. 1, 2002–Mar. 31, 2002
Apr. 1, 2002–Jun. 30, 2002
Jul. 1, 2002–Sep. 30, 2002
Oct. 1, 2002–Dec. 31, 2002
Jan. 1, 2003–Mar. 31, 2003
Apr. 1, 2003–Jun. 30, 2003
Jul. 1, 2003–Sep. 30, 2003
Oct. 1, 2003–Dec. 31, 2003
Jan. 1, 2004–Mar. 31, 2004
Apr. 1, 2004–Jun. 30, 2004
Jul. 1, 2004–Sep. 30, 2004
Oct. 1, 2004–Dec. 31, 2004
Jan. 1, 2005–Mar. 31, 2005
Apr. 1, 2005–Jun. 30, 2005
Jul. 1, 2005–Sep. 30, 2005
Oct. 1, 2005–Dec. 31, 2005
Jan. 1, 2006–Mar. 31, 2006
Apr. 1, 2006–Jun. 30, 2006
Jul. 1, 2006–Sep. 30, 2006
Oct. 1, 2006–Dec. 31, 2006
Jan. 1, 2007–Mar. 31, 2007
Apr. 1, 2007–Jun. 30, 2007
Jul. 1, 2007–Sep. 30, 2007
Oct. 1, 2007–Dec. 31, 2007
Jan. 1, 2008–Mar. 31, 2008
Apr. 1, 2008–Jun. 30, 2008
Jul. 1, 2008–Sep. 30, 2008
Oct. 1, 2008–Dec. 31, 2008

Bulletin No. 2024–24

OVERPAYMENTS
1995-1 C.B.
RATE
TABLE
6%
17
7%
19
7%
19
7%
19
7%
67
8%
69
8%
69
8%
69
8%
21
7%
19
6%
17
6%
17
5%
15
5%
15
5%
15
5%
15
4%
13
4%
13
4%
13
3%
11
3%
59
4%
61
3%
59
4%
61
4%
13
5%
15
5%
15
6%
17
6%
17
6%
17
7%
19
7%
19
7%
19
7%
19
7%
19
7%
19
6%
65
5%
63
4%
61
5%
63

1469

PG
571
573
573
573
621
623
623
623
575
573
571
571
569
569
569
569
567
567
567
565
613
615
613
615
567
569
569
571
571
571
573
573
573
573
573
573
619
617
615
617

UNDERPAYMENTS
1995-1 C.B.
RATE
TABLE
PG
7%
19
573
8%
21
575
8%
21
575
8%
21
575
8%
69
623
9%
71
625
9%
71
625
9%
71
625
9%
23
577
8%
21
575
7%
19
573
7%
19
573
6%
17
571
6%
17
571
6%
17
571
6%
17
571
5%
15
569
5%
15
569
5%
15
569
4%
13
567
4%
61
615
5%
63
617
4%
61
615
5%
63
617
5%
15
569
6%
17
571
6%
17
571
7%
19
573
7%
19
573
7%
19
573
8%
21
575
8%
21
575
8%
21
575
8%
21
575
8%
21
575
8%
21
575
7%
67
621
6%
65
619
5%
63
617
6%
65
619

June 10, 2024

Jan. 1, 2009–Mar. 31, 2009
Apr. 1, 2009–Jun. 30, 2009
Jul. 1, 2009–Sep. 30, 2009
Oct. 1, 2009–Dec. 31, 2009
Jan. 1, 2010–Mar. 31, 2010
Apr. 1, 2010–Jun. 30, 2010
Jul. 1, 2010–Sep. 30, 2010
Oct. 1, 2010–Dec. 31, 2010
Jan. 1, 2011–Mar. 31, 2011
Apr. 1, 2011–Jun. 30, 2011
Jul. 1, 2011–Sep. 30, 2011
Oct. 1, 2011–Dec. 31, 2011
Jan. 1, 2012–Mar. 31, 2012
Apr. 1, 2012–Jun. 30, 2012
Jul. 1, 2012–Sep. 30, 2012
Oct. 1, 2012–Dec. 31, 2012
Jan. 1, 2013–Mar. 31, 2013
Apr. 1, 2013–Jun. 30, 2013
Jul. 1, 2013–Sep. 30, 2013
Oct. 1, 2013–Dec. 31, 2013
Jan. 1, 2014–Mar. 31, 2014
Apr. 1, 2014–Jun. 30, 2014
Jul. 1, 2014–Sep. 30, 2014
Oct. 1, 2014–Dec. 31, 2014
Jan. 1, 2015–Mar. 31, 2015
Apr. 1, 2015–Jun. 30, 2015
Jul. 1, 2015–Sep. 30, 2015
Oct. 1, 2015–Dec. 31, 2015
Jan. 1, 2016–Mar. 31, 2016
Apr. 1, 2016–Jun. 30, 2016
Jul. 1, 2016–Sep. 30, 2016
Oct. 1, 2016–Dec. 31, 2016
Jan. 1, 2017–Mar. 31, 2017
Apr. 1, 2017–Jun. 30, 2017
Jul. 1, 2017–Sep. 30, 2017
Oct. 1, 2017–Dec. 31, 2017
Jan. 1, 2018–Mar. 31, 2018
Apr. 1, 2018–Jun. 30, 2018
Jul. 1, 2018–Sep. 30, 2018
Oct. 1, 2018–Dec. 31, 2018
Jan. 1, 2019–Mar. 31, 2019
Apr. 1, 2019–Jun. 30, 2019
Jul. 1, 2019–Sep. 30, 2019
Oct. 1, 2019–Dec. 31, 2019
Jan. 1, 2020–Mar. 31, 2020

June 10, 2024

4%
3%
3%
3%
3%
3%
3%
3%
2%
3%
3%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
5%
5%
4%
4%
4%

13
11
11
11
11
11
11
11
9
11
11
9
57
57
57
57
9
9
9
9
9
9
9
9
9
9
9
9
57
59
59
59
11
11
11
11
11
13
13
13
15
15
13
13
61

1470

567
565
565
565
565
565
565
565
563
565
565
563
611
611
611
611
563
563
563
563
563
563
563
563
563
563
563
563
611
613
613
613
565
565
565
565
565
567
567
567
569
569
567
567
615

5%
4%
4%
4%
4%
4%
4%
4%
3%
4%
4%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
5%
5%
5%
6%
6%
5%
5%
5%

15
13
13
13
13
13
13
13
11
13
13
11
59
59
59
59
11
11
11
11
11
11
11
11
11
11
11
11
59
61
61
61
13
13
13
13
13
15
15
15
17
17
15
15
63

569
567
567
567
567
567
567
567
565
567
567
565
613
613
613
613
565
565
565
565
565
565
565
565
565
565
565
565
613
615
615
615
567
567
567
567
567
569
569
569
571
571
569
569
617

Bulletin No. 2024–24

Apr. 1, 2020–Jun. 30, 2020
Jul. 1, 2020–Sep. 30, 2020
Oct. 1, 2020–Dec. 31, 2020
Jan. 1, 2021–Mar. 31, 2021
Apr. 1, 2021–Jun. 30, 2021
Jul. 1, 2021–Sep. 30, 2021
Oct. 1, 2021–Dec. 31, 2021
Jan. 1, 2022–Mar. 31, 2022
Apr. 1, 2022–Jun. 30, 2022
Jul. 1, 2022–Sep. 30, 2022
Oct. 1, 2022–Dec. 31, 2022
Jan. 1, 2023–Mar. 31, 2023
Apr. 1, 2023–Jun. 30, 2023
Jul. 1, 2023–Sep. 30, 2023
Oct. 1, 2023–Dec. 31, 2023
Jan. 1, 2024–Mar. 31, 2024
Apr. 1, 2024–Jun. 30, 2024
Jul. 1, 2024–Sep. 30, 2024

Bulletin No. 2024–24

4%
2%
2%
2%
2%
2%
2%
2%
3%
4%
5%
6%
6%
6%
7%
7%
7%
7%

61
57
57
9
9
9
9
9
11
13
15
17
17
17
19
67
67
67

1471

615
611
611
563
563
563
563
563
565
567
569
571
571
571
573
621
621
621

5%
3%
3%
3%
3%
3%
3%
3%
4%
5%
6%
7%
7%
7%
8%
8%
8%
8%

63
59
59
11
11
11
11
11
13
15
17
19
19
19
21
69
69
69

617
613
613
565
565
565
565
565
567
569
571
573
573
573
575
623
623
623

June 10, 2024

TABLE OF INTEREST RATES
FOR LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 – PRESENT

Jan. 1, 1991–Mar. 31, 1991
Apr. 1, 1991–Jun. 30, 1991
Jul. 1, 1991–Sep. 30, 1991
Oct. 1, 1991–Dec. 31, 1991
Jan. 1, 1992–Mar. 31, 1992
Apr. 1, 1992–Jun. 30, 1992
Jul. 1, 1992–Sep. 30, 1992
Oct. 1, 1992–Dec. 31, 1992
Jan. 1, 1993–Mar. 31, 1993
Apr. 1, 1993–Jun. 30, 1993
Jul. 1, 1993–Sep. 30, 1993
Oct. 1, 1993–Dec. 31, 1993
Jan. 1, 1994–Mar. 31, 1994
Apr. 1, 1994–Jun. 30, 1994
Jul. 1, 1994–Sep. 30, 1994
Oct. 1, 1994–Dec. 31, 1994
Jan. 1, 1995–Jun. 30, 1995
Apr. 1, 1995–Jun. 30, 1995
Jul. 1, 1995–Sep. 30, 1995
Oct. 1, 1995–Dec. 31, 1995
Jan. 1, 1996–Mar. 31, 1996
Apr. 1, 1996–Jun. 30, 1996
Jul. 1, 1996–Sep. 30, 1996
Oct. 1, 1996–Dec. 31, 1996
Jan. 1, 1997–Mar. 31, 1997
Apr. 1, 1997–Jun. 30, 1997
Jul. 1, 1997–Sep. 30, 1997
Oct. 1, 1997–Dec. 31, 1997
Jan. 1, 1998–Mar. 31, 1998
Apr. 1, 1998–Jun. 30, 1998
Jul. 1, 1998–Sep. 30, 1998
Oct. 1, 1998–Dec. 31, 1998
Jan. 1, 1999–Mar. 31, 1999
Apr. 1, 1999–Jun. 30, 1999
Jul. 1, 1999–Sep. 30, 1999
Oct. 1, 1999–Dec. 31, 1999
Jan. 1, 2000–Mar. 31, 2000
Apr. 1, 2000–Jun. 30, 2000
Jul. 1, 2000–Sep. 30, 2000
Oct. 1, 2000–Dec. 31, 2000
Jan. 1, 2001–Mar. 31, 2001

RATE
13%
12%
12%
12%
11%
10%
10%
9%
9%
9%
9%
9%
9%
9%
10%
11%
11%
12%
11%
11%
11%
10%
11%
11%
11%
11%
11%
11%
11%
10%
10%
10%
9%
10%
10%
10%
10%
11%
11%
11%
11%

June 10, 2024

1472

1995-1 C.B.
TABLE
31
29
29
29
75
73
73
71
23
23
23
23
23
23
25
27
27
29
27
27
75
73
75
75
27
27
27
27
27
25
25
25
23
25
25
25
73
75
75
75
27

PG
585
583
583
583
629
627
627
625
577
577
577
577
577
577
579
581
581
583
581
581
629
627
629
629
581
581
581
581
581
579
579
579
577
579
579
579
627
629
629
629
581

Bulletin No. 2024–24

Apr. 1, 2001–Jun. 30, 2001
Jul. 1, 2001–Sep. 30, 2001
Oct. 1, 2001–Dec. 31, 2001
Jan. 1, 2002–Mar. 31, 2002
Apr. 1, 2002–Sep. 30, 2002
Jul. 1, 2002–Sep. 30, 2002
Oct. 1, 2002–Dec. 31, 2002
Jan. 1, 2003–Mar. 31, 2003
Apr. 1, 2003–Jun. 30, 2003
Jul. 1, 2003–Sep. 30, 2003
Oct. 1, 2003–Dec. 31, 2003
Jan. 1, 2004–Mar. 31, 2004
Apr. 1, 2004–Jun. 30, 2004
Jul. 1, 2004–Sep. 30, 2004
Oct. 1, 2004–Dec. 31, 2004
Jan. 1, 2005–Mar. 31, 2005
Apr. 1, 2005–Jun. 30, 2005
Jul. 1, 2005–Sep. 30, 2005
Oct. 1, 2005–Dec. 31, 2005
Jan. 1, 2006–Mar. 31, 2006
Apr. 1, 2006–Jun. 30, 2006
Jul. 1, 2006–Sep. 30, 2006
Oct. 1, 2006–Dec. 31, 2006
Jan. 1, 2007–Mar. 31, 2007
Apr. 1, 2007–Jun. 30, 2007
Jul. 1, 2007–Sep. 30, 2007
Oct. 1, 2007–Dec. 31, 2007
Jan. 1, 2008–Mar. 31, 2008
Apr. 1, 2008–Sep. 30, 2008
Jul. 1, 2008–Sep. 30, 2008
Oct. 1, 2008–Dec. 31, 2008
Jan. 1, 2009–Mar. 31, 2009
Apr. 1, 2009–Jun. 30, 2009
Jul. 1, 2009–Sep. 30, 2009
Oct. 1, 2009–Dec. 31, 2009
Jan. 1, 2010–Mar. 31, 2010
Apr. 1, 2010–Jun. 30, 2010
Jul. 1, 2010–Sep. 30, 2010
Oct. 1, 2010–Dec. 31, 2010
Jan. 1, 2011–Mar. 31, 2011
Apr. 1, 2011–Jun. 30, 2011
Jul. 1, 2011–Sep. 30, 2011
Oct. 1, 2011–Dec. 31, 2011
Jan. 1, 2012–Mar. 31, 2012
Apr. 1, 2012–Jun. 30, 2012

10%
9%
9%
8%
8%
8%
8%
7%
7%
7%
6%
6%
7%
6%
7%
7%
8%
8%
9%
9%
9%
10%
10%
10%
10%
10%
10%
9%
8%
7%
8%
7%
6%
6%
6%
6%
6%
6%
6%
5%
6%
6%
5%
5%
5%

Bulletin No. 2024–24

1473

25
23
23
21
21
21
21
19
19
19
17
65
67
65
67
19
21
21
23
23
23
25
25
25
25
25
25
71
69
67
69
19
17
17
17
17
17
17
17
15
17
17
15
63
63

579
577
577
575
575
575
575
573
573
573
571
619
621
619
621
573
575
575
577
577
577
579
579
579
579
579
579
625
623
621
623
573
571
571
571
571
571
571
571
569
571
571
569
617
617

June 10, 2024

Jul. 1, 2012–Sep. 30, 2012
Oct. 1, 2012–Dec. 31, 2012
Jan. 1, 2013–Mar. 31, 2013
Apr. 1, 2013–Jun. 30, 2013
Jul. 1, 2013–Sep. 30, 2013
Oct. 1, 2013–Dec. 31, 2013
Jan. 1, 2014–Mar. 31, 2014
Apr. 1, 2014–Jun. 30, 2014
Jul. 1, 2014–Sep. 30, 2014
Oct. 1, 2014–Dec. 31, 2014
Jan. 1, 2015–Mar. 31, 2015
Apr. 1, 2015–Jun. 30, 2015
Jul. 1, 2015–Sep. 30, 2015
Oct. 1, 2015–Dec. 31, 2015
Jan. 1, 2016–Mar. 31, 2016
Apr. 1, 2016–Jun. 30, 2016
Jul. 1, 2016–Sep. 30, 2016
Oct. 1, 2016–Dec. 31, 2016
Jan. 1, 2017–Mar. 31, 2017
Apr. 1, 2017–Jun. 30, 2017
Jul. 1, 2017–Sep. 30, 2017
Oct. 1, 2017–Dec. 31, 2017
Jan. 1, 2018–Mar. 31, 2018
Apr. 1, 2018–Jun. 30, 2018
Jul. 1, 2018–Sep. 30, 2018
Oct. 1, 2018–Dec. 31, 2018
Jan. 1, 2019–Mar. 31, 2019
Apr. 1, 2019–Jun. 30, 2019
Jul. 1, 2019–Sep. 30, 2019
Oct. 1, 2019–Dec. 31, 2019
Jan. 1, 2020–Mar. 31, 2020
Apr. 1, 2020–Jun. 30, 2020
Jul. 1, 2020–Sep. 30, 2020
Oct. 1, 2020–Dec. 31, 2020
Jan. 1, 2021–Mar. 31, 2021
Apr. 1, 2021–Jun. 30, 2021
Jul. 1, 2021–Sep. 30, 2021
Oct. 1, 2021–Dec. 31, 2021
Jan. 1, 2022–Mar. 31, 2022
Apr. 1, 2022–Jun. 30, 2022
Jul. 1, 2022–Sep. 30, 2022
Oct. 1, 2022–Dec. 31, 2022
Jan. 1, 2023–Mar. 31, 2023
Apr. 1, 2023–Jun. 30, 2023
Jul. 1, 2023–Sep. 30, 2023

5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
6%
6%
6%
6%
6%
6%
6%
6%
7%
7%
7%
8%
8%
7%
7%
7%
7%
5%
5%
5%
5%
5%
5%
5%
6%
7%
8%
9%
9%
9%

June 10, 2024

1474

63
63
15
15
15
15
15
15
15
15
15
15
15
15
63
65
65
65
17
17
17
17
17
19
19
19
21
21
19
19
67
67
63
63
15
15
15
15
15
17
19
21
23
23
23

617
617
569
569
569
569
569
569
569
569
569
569
569
569
617
619
619
619
571
571
571
571
571
573
573
573
575
575
573
573
621
621
617
617
569
569
569
569
569
571
573
575
577
577
577

Bulletin No. 2024–24

Oct. 1, 2023–Dec. 31, 2023
Jan. 1, 2024–Mar. 31, 2024
Apr. 1, 2024–Jun. 30, 2024
Jul. 1, 2024–Sep. 30, 2024

10%
10%
10%
10%

Bulletin No. 2024–24

1475

25
73
73
73

579
627
627
627

June 10, 2024

TABLE OF INTEREST RATES FOR CORPORATE
OVERPAYMENTS EXCEEDING $10,000
FROM JANUARY 1, 1995 – PRESENT
1995-1 C.B.
RATE

TABLE

PG

Jan. 1, 1995–Mar. 31, 1995

6.5%

18

572

Apr. 1, 1995–Jun. 30, 1995

7.5%

20

574

Jul. 1, 1995–Sep. 30, 1995

6.5%

18

572

Oct. 1, 1995–Dec. 31, 1995

6.5%

18

572

Jan. 1, 1996–Mar. 31, 1996

6.5%

66

620

Apr. 1, 1996–Jun. 30, 1996

5.5%

64

618

Jul. 1, 1996–Sep. 30, 1996

6.5%

66

620

Oct. 1, 1996–Dec. 31, 1996

6.5%

66

620

Jan. 1, 1997–Mar. 31, 1997

6.5%

18

572

Apr. 1, 1997–Jun. 30, 1997

6.5%

18

572

Jul. 1, 1997–Sep. 30, 1997

6.5%

18

572

Oct. 1, 1997–Dec. 31, 1997

6.5%

18

572

Jan. 1, 1998–Mar. 31, 1998

6.5%

18

572

Apr. 1, 1998–Jun. 30, 1998

5.5%

16

570

Jul. 1, 1998–Sep. 30, 1998

5.5%

16

570

Oct. 1, 1998–Dec. 31, 1998

5.5%

16

570

Jan. 1, 1999–Mar. 31, 1999

4.5%

14

568

Apr. 1, 1999–Sep. 30, 1999

5.5%

16

570

Jul. 1, 1999–Sep. 30, 1999

5.5%

16

570

Oct. 1, 1999–Dec. 31, 1999

5.5%

16

570

Jan. 1, 2000–Mar. 31, 2000

5.5%

64

618

Apr. 1, 2000–Jun. 30, 2000

6.5%

66

620

Jul. 1, 2000–Sep. 30, 2000

6.5%

66

620

Oct. 1, 2000–Dec. 31, 2000

6.5%

66

620

Jan. 1, 2001–Mar. 31, 2001

6.5%

18

572

Apr. 1, 2001–Jun. 30, 2001

5.5%

16

570

Jul. 1, 2001–Sep. 30, 2001

4.5%

14

568

Oct. 1, 2001–Dec. 31, 2001

4.5%

14

568

Jan. 1, 2002–Mar. 31, 2002

3.5%

12

566

Apr. 1, 2002–Jun. 30, 2002

3.5%

12

566

Jul. 1, 2002–Sep. 30, 2002

3.5%

12

566

Oct. 1, 2002–Dec. 31, 2002

3.5%

12

566

Jan. 1, 2003–Mar. 31, 2003

2.5%

10

564

Apr. 1, 2003–Jun. 30, 2003

2.5%

10

564

Jul. 1, 2003–Sep. 30, 2003

2.5%

10

564

Oct. 1, 2003–Dec. 31, 2003

1.5%

8

562

Jan. 1, 2004–Mar. 31, 2004

1.5%

56

610

Apr. 1, 2004–Jun. 30, 2004

2.5%

58

612

June 10, 2024

1476

Bulletin No. 2024–24

Jul. 1, 2004–Sep. 30, 2004

1.5%

56

610

Oct. 1, 2004–Dec. 31, 2004

2.5%

58

612

Jan. 1, 2005–Mar. 31, 2005

2.5%

10

564

Apr. 1, 2005–Jun. 30, 2005

3.5%

12

566

Jul. 1, 2005–Sep. 30, 2005

3.5%

12

566

Oct. 1, 2005–Dec. 31, 2005

4.5%

14

568

Jan. 1, 2006–Mar. 31, 2006

4.5%

14

568

Apr. 1, 2006–Jun. 30, 2006

4.5%

14

568

Jul. 1, 2006–Sep. 30, 2006

5.5%

16

570

Oct. 1, 2006–Dec. 31, 2006

5.5%

16

570

Jan. 1, 2007–Mar. 31, 2007

5.5%

16

570

Apr. 1, 2007–Jun. 30, 2007

5.5%

16

570

Jul. 1, 2007–Sep. 30, 2007

5.5%

16

570

Oct. 1, 2007–Dec. 31, 2007

5.5%

16

570

Jan. 1, 2008–Mar. 31, 2008

4.5%

62

616

Apr. 1, 2008–Jun. 30, 2008

3.5%

60

614

Jul. 1, 2008–Sep. 30, 2008

2.5%

58

612

Oct. 1, 2008–Dec. 31, 2008

3.5%

60

614

Jan. 1, 2009–Mar. 31, 2009

2.5%

10

564

Apr. 1, 2009–Jun. 30, 2009

1.5%

8

562

Jul. 1, 2009–Sep. 30, 2009

1.5%

8

562

Oct. 1, 2009–Dec. 31, 2009

1.5%

8

562

Jan. 1, 2010–Mar. 31, 2010

1.5%

8

562

Apr. 1, 2010–Jun. 30, 2010

1.5%

8

562

Jul. 1, 2010–Sep. 30, 2010

1.5%

8

562

Oct. 1, 2010–Dec. 31, 2010

1.5%

8

562

Jan. 1, 2011–Mar. 31, 2011

0.5%*

Apr. 1, 2011–Jun. 30, 2011

1.5%

8

562

Jul. 1, 2011–Sep. 30, 2011

1.5%

8

562

Oct. 1, 2011–Dec. 31, 2011

0.5%*

Jan. 1, 2012–Mar. 31, 2012

0.5%*

Apr. 1, 2012–Jun. 30, 2012

0.5%*

Jul. 1, 2012–Sep. 30, 2012

0.5%*

Oct. 1, 2012–Dec. 31, 2012

0.5%*

Jan. 1, 2013–Mar. 31, 2013

0.5%*

Apr. 1, 2013–Jun. 30, 2013

0.5%*

Jul. 1, 2013–Sep. 30, 2013

0.5%*

Oct. 1, 2013–Dec. 31, 2013

0.5%*

Jan. 1, 2014–Mar. 31, 2014

0.5%*

Apr. 1, 2014–Jun. 30, 2014

0.5%*

Jul. 1, 2014–Sep. 30, 2014

0.5%*

Oct. 1, 2014–Dec. 31, 2014

0.5%*

Bulletin No. 2024–24

1477

June 10, 2024

Jan. 1, 2015–Mar. 31, 2015

0.5%*

Apr. 1, 2015–Jun. 30, 2015

0.5%*

Jul. 1, 2015–Sep. 30, 2015

0.5%*

Oct. 1, 2015–Dec. 31, 2015

0.5%*

Jan. 1, 2016–Mar. 31, 2016

0.5%*

Apr. 1, 2016–Jun. 30, 2016

1.5%

56

610

Jul. 1, 2016–Sep. 30, 2016

1.5%

56

610

Oct. 1, 2016–Dec. 31, 2016

1.5%

56

610

Jan. 1, 2017–Mar. 31, 2017

1.5%

8

562

Apr. 1, 2017–Jun. 30, 2017

1.5%

8

562

Jul. 1, 2017–Sep. 30, 2017

1.5%

8

562

Oct. 1, 2017–Dec. 31, 2017

1.5%

8

562

Jan. 1, 2018–Mar. 31, 2018

1.5%

8

562

Apr. 1, 2018–Jun. 30, 2018

2.5%

10

564

Jul. 1, 2018–Sep. 30, 2018

2.5%

10

564

Oct. 1, 2018–Dec. 31, 2018

2.5%

10

564

Jan. 1, 2019–Mar. 31, 2019

3.5%

12

566

Apr. 1, 2019–Jun. 30, 2019

3.5%

12

566

Jul. 1, 2019–Sep. 30, 2019

2.5%

10

564

Oct. 1, 2019–Dec. 31, 2019

2.5%

10

564

Jan. 1, 2020–Mar. 31, 2020

2.5%

58

612

Apr. 1, 2020–Jun. 30, 2020

2.5%

58

612

Jul. 1, 2020–Sep. 30, 2020

0.5%*

Oct. 1, 2020–Dec. 31, 2020

0.5%*

Jan. 1, 2021–Mar. 31, 2021

0.5%*

Apr. 1, 2021–Jun. 30, 2021

0.5%*

Jul. 1, 2021–Sep. 30, 2021

0.5%*

Oct. 1, 2021–Dec. 31, 2021

0.5%*

Jan. 1, 2022–Mar. 31, 2022

0.5%*

Apr. 1, 2022–Jun. 30, 2022

1.5%

8

562

Jul. 1, 2022–Sep. 30, 2022

2.5%

10

564

Oct. 1, 2022–Dec. 31, 2022

3.5%

12

566

Jan. 1, 2023–Mar. 31, 2023

4.5%

14

568

Apr. 1, 2023–Jun. 30, 2023

4.5%

14

568

Jul. 1, 2023–Sep. 30, 2023

4.5%

14

568

Oct. 1, 2023–Dec. 31, 2023

5.5%

16

570

Jan. 1, 2024–Mar. 31, 2024

5.5%

64

618

Apr. 1, 2024–Jun. 30, 2024

5.5%

64

618

Jul. 1, 2024–Sep. 30, 2024

5.5%

64

618

* The asterisk reflects the interest factors for daily compound interest for annual rates of 0.5 percent published in Appendix A of
this Revenue Ruling.

June 10, 2024

1478

Bulletin No. 2024–24

Part III
Guidance Regarding the
2024 Allocation Round
of Qualifying Advanced
Energy Project Credit
Program under Section
48C(e)
Notice 2024-36
SECTION 1. PURPOSE
.01 This notice provides additional
guidance to clarify and amplify the procedures for the allocation of credits under
§ 48C of the Internal Revenue Code
(Code)1 (§ 48C credits) pursuant to the
qualifying advanced energy project credit
program under § 48C(e) (§ 48C(e) program) and announces the 2024 allocation
round of the § 48C(e) program (Round 2).
Notices 2023-18, 2023-10 I.R.B. 508, and
2023-44, 2023-25 I.R.B. 924, established
the § 48C(e) program to allocate $10 billion of § 48C credits ($4 billion of which
may be allocated only to projects located
in § 48C(e) Energy Communities Census
Tracts2) for qualified investments in eligible qualifying advanced energy projects and provided guidance for the first
allocation round of the § 48C(e) program
(Round 1). Except as specifically provided in this notice, Round 2 will be conducted in the same manner and under the
same procedures as provided under Notice
2023-18 and Notice 2023-44.3
.02 For purposes of Round 2, Appendices A, B, and C of this notice supersede
Appendices A, B, and C of Notice 202344.
.03 As stated in section 1.03 of Notice
2023-18, the Department of the Treasury
(Treasury Department) and the Internal
Revenue Service (IRS) anticipate providing at least two allocation rounds under
the § 48C(e) program. During Round 1,
the Treasury Department and IRS allocated approximately $4 billion of § 48C
credits, with approximately $1.5 billion in

1
2
3

§ 48C credits allocated to projects located
in § 48C(e) Energy Communities Census Tracts (as defined in section 5.06 of
Notice 2023-18). For Round 2, the Treasury Department and the IRS anticipate
allocating approximately $6 billion of
§ 48C credits, with approximately $2.5
billion in § 48C credits to be allocated
to projects located in § 48C(e) Energy
Communities Census Tracts. Although the
Treasury Department and the IRS intend
to allocate a total of $10 billion of § 48C
credits over the duration of the § 48C(e)
program, with not less than $4 billion of
§ 48C credits allocated to projects located
in § 48C(e) Energy Communities Census Tracts, depending upon applications
received, the Treasury Department and
the IRS may not allocate in Round 2 all
of the approximately $2.5 billion of § 48C
credits that must be allocated to § 48C(e)
Energy Communities Census Tracts. The
Treasury Department and the IRS will
evaluate if any § 48C credits remain unallocated at the close of Round 2 and determine if another allocation round is needed.
.04 To be considered for an allocation
of § 48C credits in Round 2, taxpayers
must first submit concept papers to the
IRS through the Qualified Advanced
Energy Project Credit Program Applicant
Portal (48C Portal), accessible at https://
eco.energy.gov/48C/, maintained by the
Department of Energy (DOE). Following
submission of a concept paper, DOE will
provide a letter encouraging or discouraging the taxpayer’s submission of a joint
application for DOE recommendation and
for IRS § 48C(e) certification (§ 48C(e)
application). DOE begins the acceptance
period for a taxpayer’s § 48C(e) application on the date of the letter of encouragement or discouragement. To be considered
for the § 48C(e) program, a taxpayer’s
§ 48C(e) application must be submitted
no later than 50 calendar days after DOE
begins the acceptance period for the taxpayer’s § 48C(e) application. The IRS will
make all Round 2 allocation decisions no
later than January 15, 2025.

SECTION 2. BACKGROUND
.01 For purposes of the § 38 general
business credit, § 46 provides that the
amount of the investment credit for any
taxable year is the sum of the credits
listed in § 46. That list includes the § 48C
credit, which was originally enacted by
§ 1302(b) of the American Recovery and
Reinvestment Act of 2009, Public Law
111-5, Division B, Title I, Subtitle D,
123 Stat. 115, 345 (February 17, 2009),
to provide an allocated credit for qualified investments in qualifying advanced
energy projects.
.02 In addition to certain amendments
made by the Tax Increase Prevention Act
of 2014, Public Law 113-295, 128 Stat.
4010 (December 19, 2014), § 48C was
amended most recently by § 13501 of Public Law 117-169, 136 Stat. 1818 (August
16, 2022), commonly known as the Inflation Reduction Act of 2022 (IRA). Section 13501(a) of the IRA added § 48C(e)
to the Code to extend the § 48C credit and
to provide an additional credit allocation
of $10 billion. Section 13501(b) of the
IRA modified the definition of a “qualifying advanced energy project” contained
in § 48C(c)(1)(A). Section 13501(c) and
(d) of the IRA made conforming amendments to § 48C(c)(2)(A) and (f). The
amendments made by § 13501 of the IRA
became effective on January 1, 2023. See
§ 13501(e) of the IRA.
.03 Notice 2023-18 established the
§ 48C(e) program and provided initial program guidance. Section 3 of Notice 202318 provided certain definitions for purposes of the § 48C(e) program, section 4 of
Notice 2023-18 described how the prevailing wage and apprenticeship requirements
under § 48C(e)(5) and (6) impact the rate of
§ 48C credits allocated under the § 48C(e)
program, section 5 of Notice 2023-18 provided a general description of the § 48C(e)
program, and section 6 of Notice 2023-18
provided initial information regarding the
procedures for concept papers and § 48C(e)
applications.

Unless otherwise specified, all “section” or “§” references are to sections of the Code.
The term “§ 48C(e) Energy Communities Census Tracts” is defined in section 5.06 of Notice 2023-18 and such tracts are listed in Appendix C of this notice.
Prior Notices and other relevant information about the § 48C(e) program can be found at https://www.irs.gov/credits-deductions/businesses/advanced-energy-project-credit.

Bulletin No. 2024–24

1479

June 10, 2024

.04 Section 5 of Notice 2023-18 states
that the IRS will consider a project under
the § 48C(e) program only if DOE provides a recommendation and ranking to
the IRS. As stated in section 5 of Notice
2023-18, DOE will provide a recommendation only if it determines that the
project has a reasonable expectation of
commercial viability and merits a recommendation based on the criteria provided
in additional § 48C(e) program guidance
later provided in Notice 2023-44.
.05 Section 4 of Notice 2023-44 states
that eligible property that is part of a § 48C
eligible project placed in service prior
to being awarded an allocation of § 48C
credits under the § 48(C)(e) program is
not eligible to receive such an allocation.
SECTION 3. ROUND 2 OF SECTION
48C(e) PROGRAM
.01 In General. For each project for
which a taxpayer seeks an allocation of
§ 48C credits in Round 2, the taxpayer
must use the 48C Portal to submit to the
IRS (1) a concept paper for DOE consideration and (2) a joint application for DOE
recommendation and for IRS § 48C(e)
certification (§ 48C(e) application). If a
§ 48C(e) application does not (1) propose
a qualifying advanced energy project (as
described in Appendix A) or (2) include
all of the information required in Appendix B, DOE may decline to consider the
§ 48C(e) application or request that the
applicant resubmit its § 48C(e) application with the missing information. If DOE
does not provide a recommendation to the
IRS on the § 48C(e) application, the IRS
will not consider the § 48C(e) application.
Failure to receive an allocation in Round
1 does not preclude an applicant from
applying in Round 2.
.02 Taxpayer submissions. Taxpayers must submit their concept papers and
§ 48C(e) applications through the 48C
Portal. See Appendix B for additional
information regarding the application process.
.03 Program Timeline. Generally,
Round 2 will proceed as follows:
(1) A taxpayer submits a concept paper
through the 48C Portal. The 48C Portal
will open to accept concept paper submissions no later than Tuesday, May 28, 2024.
Taxpayers must submit concept papers

June 10, 2024

prior to 5:00 PM Eastern Time, within 30
calendar days after the 48C Portal opens.
(2) DOE reviews the concept paper and
sends the taxpayer a letter encouraging or
discouraging the submission of a § 48C(e)
application. After receiving a letter of
encouragement or discouragement from
DOE, the taxpayer determines whether
to submit a § 48C(e) application. Any
taxpayer who submits a concept paper
through the 48C Portal is eligible to submit a § 48C(e) application, regardless of
DOE’s response to the taxpayer’s concept
paper.
(3) Taxpayers submit § 48C(e) applications through the 48C Portal. See Appendix B for additional information.
(4) DOE reviews each § 48C(e) application for compliance with eligibility and
other threshold requirements.
(5) If the § 48C(e) application complies
with all eligibility and threshold requirements, DOE conducts a technical review
of the application based on the technical
review criteria described in Appendix B.
(6) DOE provides a recommendation
to the IRS regarding the acceptance or
rejection of each § 48C(e) application and
a ranking of all § 48C(e) applications.
(7) The IRS makes a decision regarding the acceptance or rejection of each
§ 48C(e) application based on DOE’s
recommendation and ranking. The IRS
notifies each taxpayer who submitted a
§ 48C(e) application of the outcome by
sending a letter allocating § 48C credits in
the case of an acceptance (Allocation Letter) or a letter denying the requested allocation in the case of a rejection (Denial
Letter). The IRS will make all Round 2
allocation decisions no later than January
15, 2025. In the case of an acceptance,
the amount of § 48C credits allocated to
a project will be based on the taxpayer’s
qualified investment in the qualifying
advanced energy project and whether the
taxpayer intends to apply for and receive
an allocation of § 48C credits calculated
at the 30 percent credit rate (see section
5.07 of Notice 2023-18). In the case of a
denial, a taxpayer may request a debriefing with DOE regarding DOE’s review of
the taxpayer’s § 48C(e) application. The
Denial Letter will include instructions for
requesting a DOE debriefing.
(8) To be eligible to receive a § 48C
credit allocated under the § 48C(e) pro-

1480

gram with respect to a taxpayer’s qualified investment in a qualifying advanced
energy project (§ 48C Facility), the earliest that the taxpayer may place in service the § 48C Facility is after receiving
the Allocation Letter with respect to that
§ 48C Facility. See section 4 of Notice
2023-44.
(9) Within 2 years of receiving an
Allocation Letter, a taxpayer must notify
DOE that the certification requirements
have been met by submitting the required
information through the 48C Portal. See
Appendix B for additional information.
(10) DOE reviews information provided by the taxpayer evidencing that the
requirements for certification have been
met.
(11) DOE notifies the taxpayer and the
IRS if the taxpayer satisfies the certification requirements.
(12) The IRS certifies a taxpayer’s
§ 48C Facility by sending a letter (Certification Letter).
(13) Within 2 years of receiving the
Certification Letter, the taxpayer notifies
DOE that the § 48C Facility has been
placed in service by submitting such
information through the 48C Portal. See
Appendix B for additional information.
If the taxpayer has not placed the § 48C
Facility in service within the required
2-year period or has not notified DOE
that the § 48C Facility has been placed in
service within the required 2-year period,
then the § 48C credit allocated to the taxpayer’s § 48C Facility is forfeited.
(14) DOE notifies the taxpayer and
the IRS that it has received the taxpayer’s notification that the § 48C Facility
has been placed in service or notification
that the taxpayer will not place the § 48C
Facility in service within the required
2-year period. See section 5.09 of Notice
2023-18.
(15) If the taxpayer has placed the
§ 48C Facility in service within the
required 2-year period and has notified
DOE, then the taxpayer claims the § 48C
credit on its Federal income tax return for
the taxable year in which the § 48C Facility was placed in service.
(16) If the taxpayer chooses to withdraw a submission at any phase of the
§ 48C(e) program (whether at the concept paper phase, the § 48C(e) application
phase, the post-Allocation Letter phase,

Bulletin No. 2024–24

or the post-Certification Letter phase),
the taxpayer must provide a formal withdrawal notification through the 48C Portal.
SECTION 4. SECTION 48C
ADDITIONAL RULES
.01 Section 48C Energy Communities. A § 48C Facility is determined to be
located in a § 48C(e) Energy Community Census Tract at the time that DOE
provides recommendations to the IRS. A
§ 48C Facility is treated as located within
a § 48C(e) Energy Community Census
Tract if the § 48C Facility satisfies the
Footprint Test as provided in section 6.03
of Notice 2023-44. A taxpayer can determine whether its project is located within
a § 48C(e) Energy Communities Census
Tract by referring to the list of Section
48C(e) Energy Communities Census
Tracts provided by Appendix C. Additionally, a map of § 48C(e) Energy Communities Census Tracts has been provided by
the DOE and is available at www.energy.
gov/infrastructure/48C.
.02 Selection Criteria for all projects
seeking an allocation from the § 48C(e)

Bulletin No. 2024–24

program. Section 48C(d)(3) lists the
selection criteria used to determine which
qualifying advanced energy projects merit
a DOE recommendation. Section 7 of
Notice 2023-44 provides additional detail
regarding these criteria, including how
the criteria are used to evaluate concept
papers and § 48C(e) applications.
SECTION 5. PAPERWORK
REDUCTION ACT
Any collection burden associated with
this notice is accounted for in OMB Control Number 1545-2151. This notice does
not alter any previously accounted for
information collection requirements and
does not create new collection requirements not already approved by the Office
of Management and Budget.
SECTION 6. EFFECT ON OTHER
DOCUMENTS
Notice 2023-18 is clarified and modified. Notice 2023-44 is amplified and
superseded.

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SECTION 7. DRAFTING
INFORMATION
.01 The principal author of this notice
is Alan W. Tilley of the Office of Associate Chief Counsel (Passthroughs & Special Industries). For further information
regarding this notice contact Mr. Tilley on
(202) 317-6853 (not a toll-free call).
.02 Any questions or comments regarding the non-tax aspects of this notice can
be submitted to DOE at 48CQuestions@
hq.doe.gov. DOE may post questions and
answers related to this notice at https://
www.energy.gov/infrastructure/48C. Any
questions or comments received under this
notice are subject to public release pursuant to the Freedom of Information Act.
DOE is under no obligation to respond to,
or acknowledge receipt of, any questions
or comments submitted under this notice
and any responses provided do not constitute legal advice provided by either DOE
or the IRS.

June 10, 2024

Table of Contents
1
1.1
1.2
1.3

APPENDIX A – Eligibility. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1483
Clean Energy Manufacturing and Recycling Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1483
Industrial Decarbonization Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1485
Critical Material Projects. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1486

2

APPENDIX B – DOE Application Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1487
2.1 Executive Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1487
2.2 Glossary of Terms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1488
2.3 DOE Review Process. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1489
2.3.1 Program Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1489
2.3.2 Program Key Dates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1489
2.3.3 Program Priorities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1489
2.4 Stage 1, Concept Paper Guidance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1490
2.4.1 Concept Paper Submission Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1491
2.4.2 Concept Paper Template . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1491
2.4.3 Concept Paper Review Process Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1493
2.5 Stage 2, 48C(e) Application Guidance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1494
2.5.1 Application Submission Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1494
2.5.2 Application Submission Material Guidelines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1495
2.5.3 Application Review Process Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1501
2.6 Additional Application Materials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1502
2.6.1 Data Sheet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1502
2.6.2 Section 48C(e) Application Appendix Files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1503
2.7 Technical Review Criteria . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1503
2.7.1 Clean Energy Manufacturing and Critical Materials Projects. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1503
2.7.2 Greenhouse Gas Emissions Reduction Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1505
2.8 Submission and Registration Information and Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1506
2.8.1 General Application Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1506
2.8.2 Determining an Application’s Project Category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1506
2.8.3 48C Portal for Submission of Application. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1507
2.8.4 Application Forms and Format of Submissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508
2.8.5 Electronic Authorization of Applications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508
2.8.6 Markings of Confidential Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508
2.9 DOE Recommendation Process. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508
2.9.1 Program Policy Factors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508
2.9.2 DOE Recommendations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509
2.10 Post Allocation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509
2.10.1 Requirements for Certification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509
2.10.2 Request for Debriefing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509
2.11 Questions/Comments and Informational Webinar. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509
2.11.1 Questions and Comments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509
2.11.2 Informational Webinar. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509

3

APPENDIX C – 48C(e) Energy Communities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1510

June 10, 2024

1482

Bulletin No. 2024–24

APPENDIX A – Eligibility
1. Qualifying Advanced Energy
Projects
THIS APPENDIX A SUPERSEDES
APPENDIX A OF NOTICE 2023-44.
For the purposes of determining eligibility for the § 48C credit, a “qualifying
advanced energy project” means:
1.1 Clean Energy Manufacturing and
Recycling Projects
A qualifying advanced energy project
in this category involves re-equipping,
expanding, or establishing an industrial or
manufacturing facility. The facility must
manufacture or recycle one or more of the
specified advanced energy properties outlined below.
Note: If only a portion of a facility will
be used to manufacture or recycle eligible
property as described in this Appendix,
then the qualified investment proposed in
the § 48C application should only include
costs for the portion of the facility that
will be used to manufacture or recycle eligible property.
a. Property designed to be used to
produce energy from the sun, water, wind,
geothermal deposits (within the meaning
of § 613(e)(2)), or other renewable
resources.
(i) Examples of eligible property
include solar panels and their components and sub-components (e.g., solar
cells, solar glass, wafers, and polysilicon)
and their specialized support structures;
wind turbines, towers, floating offshore
platforms, and related equipment; power
electronics designed for use with eligible solar or wind property; equipment to
concentrate sunlight to generate heat for
industrial processes or to convert it to
electricity; geothermal turbines and heat
pumps; hydropower turbines; and other
products directly used to generate electrical and/or thermal energy from renewable
resources, as well as the specialized components, subcomponents, and materials
incorporated into any such eligible property, including equipment for sensing,
communication, and control.

Bulletin No. 2024–24

(ii) Examples of ineligible property
include equipment used for purposes other
than converting energy from renewable
resources into electricity, building heat,
or industrial process heat. This includes
gas turbine generator sets which burn natural gas, or boilers that heat water using
fossil fuels. Also, clean energy development projects are ineligible. These include
power generation projects that use solar
panels, wind turbines, or hydropower turbines to generate electricity.
b. Fuel cells, microturbines, or energy
storage systems and components.
(i) Examples of eligible property
include stationary batteries; stationary
hydrogen fuel cells; hydrogen storage
vessels; microturbines for combined heat
and power systems; pumps and turbines
for pumped hydropower storage systems;
and the specialized components of any
such equipment, including equipment for
sensing, communication, and control.
(ii) Examples of ineligible property
include heavy-duty gas turbines.
(iii) Note: For electric vehicle batteries
and fuel cells for vehicles see the “light-,
medium-, or heavy-duty electric or fuel
cell vehicles” project class.
c. Electric grid modernization equipment
or components.
(i) Examples of eligible property include
grid equipment for electricity delivery;
power flow, control, and conversion,
such as transformers, power electronics,
advanced cables and conductors, advanced
meters, breakers, switchgears, composite
poles, converters, medium-voltage direct
current (MVDC) and high-voltage direct
current (HVDC) lines, grid-enhancing
technologies, and electrical steel or alloys
used in transformer cores. Examples of eligible property also include the specialized
components of any such grid modernization equipment, including components for
sensing communication, and control.
(ii) Electric vehicle supply equipment
qualifies under the “light-, medium-, or
heavy-duty electric or fuel cell vehicles”
project class. Storage technologies for

1483

grid applications qualify under the “fuel
cells, microturbines, or energy storage
systems and components” project class.
d. Property designed to capture, remove,
use, or sequester carbon oxide emissions.
(i) Examples of eligible property
include carbon capture equipment or
other property necessary to compress,
treat, process, liquefy, pump or perform
some other physical action to capture carbon oxide emissions, including solvents;
membranes; sorbents; chemical processing equipment; compressors; monitoring
equipment; and injection equipment; and
well components such as packers, casing
strings, CO2-resistant concrete, steel tubulars, wellhead, valves, and sensors suitable
for use in Underground Injection Control
(UIC) Class VI wells. Eligible property
also includes transportation equipment, as
in a system of gathering and distribution
infrastructure. These include pipelines,
temporary or transportation-related carbon oxide storage tanks, valves, sensors,
and control panels that serve in collecting
carbon oxides captured from an industrial
facility or multiple facilities for the purpose of transporting that carbon oxide.
Additional examples include equipment
to convert carbon oxides through mineralization, thermochemical, electrochemical, photochemical, plasma-assisted,
or other catalytic process approaches to
carbon-based products such as synthetic
fuels, chemicals, solid carbon products,
and inorganic materials.
(ii) Examples of ineligible property
include scrubbers for conventional air
pollutants (except those that are required
to remove pollutants upstream of carbon
capture equipment for technical performance reasons), energy generation equipment (except as related to energy recovery
at carbon capture systems), and refining
equipment. Also, facilities that install
equipment to capture, remove, use, or
sequester carbon oxide emissions are not
eligible under this category. These properties are considered deployments. The
installation of CCUS equipment at existing facilities may be eligible under the
Industrial decarbonization category (see

June 10, 2024

Section 1.2, Industrial Decarbonization
Projects).
e. Equipment designed to refine,
electrolyze, or blend any fuel, chemical,
or product which is renewable, or
low-carbon and low-emission. For the
purposes of Round 2 of the § 48C(e)
program, a qualifying advanced energy
project in this category must include
projects that manufacture or recycle
equipment used to produce the following:
(i) Renewable transportation fuel that is
(A) suitable for use as a fuel in a vehicle, marine vessel, or aircraft,
(B) derived from or co-processed
with
(I) a biomass feedstock, or
(II) hydrogen produced from
renewable
energy
and
inputs, and
(C) not derived from palm fatty acid
distillates or fossil fuels, including coal, natural gas, and petroleum.
(ii) Clean hydrogen produced with a
well-to-gate lifecycle greenhouse gas
(GHG) emissions rate of not greater
than 4 kg CO2e per kg H2, in accordance with the definition of qualified
clean hydrogen under § 45V, Credit
for Production of Clean Hydrogen.
(iii) Other fuel that is
(A) derived from or co-processed
with a renewable feedstock or
achieves at least a 50 percent
reduction in lifecycle GHG
emissions in comparison with the
conventional alternative,
(B) not a transportation fuel suitable
for use in a vehicle, marine vessel, or aircraft, and
(C) not derived from palm fatty acid
distillates or fossil fuels, including
coal, natural gas, and petroleum.
(iv) Product or chemical that is
(A) derived from or co-processed
with a renewable feedstock or
achieves at least a 50 percent
reduction in lifecycle GHG
emissions in comparison with the
conventional alternative,
(B) suitable for use as an industrial
feedstock, and
(C) not derived from palm fatty acid
distillates or fossil fuels, includ-

June 10, 2024

ing coal, natural gas, and petroleum.
(v) Examples of eligible property
include electrolyzers such as alkaline
cells, proton-exchange membrane (PEM)
cells, and solid-oxide electrolysis cells
(SOECs). Other eligible equipment
includes mixing devices, pumps, separation devices, bioprocessing equipment,
biomass preprocessing equipment, and
reactors. However, these pieces of equipment must be intended for use in the production of eligible fuels, chemicals, and
products. Examples of these fuels, chemicals, and products include low-emissions
ammonia, renewable biofuels, including
sustainable aviation fuel, fuels designed to
replace petroleum fuel in on-road and offroad applications. Equipment for the production of low-emissions chemicals, basic
organic chemicals, polymers, and resins
are also included, as long as their intended
use is demonstrated through engineering
specifications or offtake agreements.
(vi) Examples of ineligible property
include those designed to produce fuels
and chemicals derived solely from fossil resources produced through conventional petroleum and natural gas refining.
Additionally, facilities that manufacture
or produce fuels, chemicals, or other
industrial feedstocks, such as renewable
biofuels, hydrogen, and low-emission
ammonia, are also ineligible. These facilities are considered deployment facilities.
For exceptions pertaining to deployment
facilities that produce low carbon chemicals and are eligible in Round 2 refer to
Section 1.1(i), Other advanced energy
property designed to reduce greenhouse
gas emissions as may be determined by
the Secretary. Furthermore, it is important
to note that a qualifying advanced energy
project must exclude any portion of a
project that involves the manufacturing or
recycling of equipment used in the refining or blending of any fuel other than fuels
described in this category.
f. Property designed to produce energy
conservation technologies (including
residential, commercial, and industrial
applications).
(i) Examples of eligible energy conservation property include technologies
and grid-interactive devices eligible for

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residential or commercial efficiency
improvements for purposes of the § 25C
credit or the § 179D tax deduction, as well
as equipment that directly reduces net
energy use in industrial applications, such
as ultra-efficient heat pumps, insulation,
ultra-efficient hot water systems, sensors,
controls, and similar advanced efficiency
technologies.
(ii) Examples of ineligible energy
conservation property include those that
reduce electricity usage by increasing
the facility’s natural gas or other fossil
fuel usage and/or lead to increased system-level emissions.
g. Light-, medium-, or heavy-duty
electric or fuel cell vehicles, as well as
technologies, components, or materials
for such vehicles, and associated
charging or refueling infrastructure.
(i) Examples of eligible property
include battery electric, plug-in hybrid
electric, or fuel cell cars, trucks, buses,
and other vehicles, as well as the specialized components of those vehicles, such
as batteries, anode and cathode components and materials, electric drive systems, fuel cells, and other materials and
subcomponents.
(ii) Examples of eligible charging or
refueling infrastructure include electric
vehicle supply equipment (EVSE), including EVSE with integrated energy storage,
components from the grid connection to
the vehicle, bidirectional charging equipment, and components used in hydrogen
refueling stations (e.g., hydrogen compressors, pumps, storage vessels, and dispensing equipment).
(iii) Examples of ineligible property
include internal combustion engine vehicles of all sizes, non-plug-in hybrid vehicles of less than 14,000 pounds gross
vehicle weight rating, and their components, as well as associated refueling
infrastructure, such as petroleum, liquefied or compressed natural gas, or ethanol
refueling stations. Examples of ineligible charging infrastructure property also
include electrical components upstream of
the charging station’s service connection
to the grid and components of charging
or refueling stations, such as signage, that
are not directly involved in the transfer of
fuel or power to the vehicle.

Bulletin No. 2024–24

h. Hybrid vehicles with a gross vehicle
weight rating of not less than 14,000
pounds, as well as technologies,
components, or materials for such
vehicles.
(i) Examples of eligible property
include traction batteries, converters,
power electronics, and assembled hybrid
vehicles of not less than 14,000 pounds
themselves, but components and materials
must be designed for large hybrid vehicles
with a gross vehicle weight rating of not
less than 14,000 pounds, as demonstrated
through engineering specifications and/or
offtake agreements.
i. Other advanced energy property
designed to reduce greenhouse gas
emissions as may be determined by the
Secretary.
(i) Examples of eligible advanced
energy property include specialized components and equipment for nuclear power
reactors or their fuels (e.g., including
components and equipment for fabrication
of fuels, and manufacturing of equipment
for conversion, enrichment, and deconversion), and equipment used to reduce the
emissions of industrial facilities, such as
heat and process emissions. Property may
be determined to be designed to reduce
GHG emissions either through published
guidance or in the letter notifying an
applicant that the IRS has accepted the
applicant’s application for § 48C(e) certification with respect to the property.
(ii) Examples of eligible advanced
energy properties in this category include
energy-intensive materials that have a
substantially lower carbon intensity when
compared to an appropriate industry-specific benchmark. These materials must not
be derived from primary feedstocks such
as palm fatty acid distillates or fossil fuels
including coal, natural gas, and petroleum. Eligible projects include but are not
limited to projects that expand, re-equip,
or establish facilities for manufacturing or
recycling of low carbon cement, concrete
or components such as supplementary
cementitious materials, low carbon iron
and steel, low carbon aluminum, low carbon chemicals, low carbon pulp or paper,
and low carbon glass. The proposed projects should reduce carbon intensity on a

Bulletin No. 2024–24

life cycle basis by at least 30% compared
to an appropriate industry-specific benchmark. Existing facilities are only eligible
if they re-equip or expand their production lines to produce these materials or
increase capacity respectively; otherwise,
they do not qualify under this category.
(iii) Advanced energy property that
is designed to reduce greenhouse gas
emissions by enabling the production of
other greenhouse gas emission-reducing
advanced energy property may be eligible under this category. For such “other
advanced energy property,” which is not
designed to directly reduce GHG emissions, the applicant must demonstrate
that the advanced energy property is
highly specialized equipment necessary
to strengthen U.S. resilience of critical
domestic energy supply chains and the
reduction of GHG emissions is a necessary ultimate outcome from the production of the advanced energy property. This
can be demonstrated through the applicant’s proposed business plan, including
offtake agreements and any additional
market analysis or other technical specialization, to show the advanced energy
property that is produced or recycled by
the applicant’s industrial or manufacturing
facility will primarily contribute toward
reduction of GHG emissions. An example
of such “other advanced energy property”
that may be eligible is diamond wire saws
necessary in the solar technology supply
chain, so long as the applicant demonstrates the project’s output will be used
primarily for the purpose of manufacturing property designed to produce energy
from the sun.
(iv) Examples of ineligible properties
include projects that re-equip, expand, or
establish facilities that would be used for
enrichment, conversion, or deconversion
of uranium. Similarly, projects that produce uranium or procure equipment that
would be used in the enrichment, conversion, or deconversion of uranium are not
eligible under this category.
1.2 Industrial Decarbonization Projects
An advanced energy project qualifies
under this category if it involves retrofitting an industrial or manufacturing facility, particularly in energy-intensive sectors
such as cement, iron and steel, aluminum,

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and chemicals. The retrofit must include
the installation of equipment specifically
designed to reduce greenhouse gas emissions by at least 20 percent. It’s important
to note that this category is exclusively
focused on projects that upgrade the existing facilities to lower greenhouse gas
emissions through the installation of one
or more specified technologies below.
Note: Investments aimed at expanding
a facility such as those intended to increase
manufacturing capacity are not considered
eligible costs to be included as part of
qualified investment under this category.
Therefore, any such ineligible costs must
be excluded from the qualified investment
requested for projects within this category.
However, these type projects may qualify
under the section 1.1 Clean Energy Manufacturing and Recycling project category.
In Round 1, this project category was
referred to as “Greenhouse Gas Emissions
Reduction Projects” (as described and
defined in Appendix A of Notice 202344). The updated project category name
“Industrial Decarbonization Projects” in
Round 2 is a change in terminology only;
eligibility under this project category
remains unchanged between Round 1 and
Round 2, although additional clarifications are provided below.
a. Low- or zero-carbon process heat
systems.
Examples of eligible equipment
include electric heat pumps, combined
heat and power (CHP) systems, thermal
storage technologies, and other heating
systems based on electricity, clean hydrogen, biomass, or waste heat recovery.
b. Carbon capture, transport, utilization,
and storage systems.
(i) Examples of eligible equipment
include carbon capture equipment necessary to compress, treat, process, liquefy,
pump, or perform some other physical
action to capture carbon oxides, and specialized equipment and materials needed
for the transport and storage of carbon
oxides, including carbon dioxide pipelines, monitoring equipment, and injection equipment and well components such
as packers, casing strings, CO2-resistant
cement, steel tubulars, well heads, valves,

June 10, 2024

and sensors suitable for use in Underground Injection Control Class VI wells.
Additional examples include equipment
to convert carbon oxides through mineralization, thermochemical, electrochemical, photochemical, plasma-assisted,
or other catalytic process approaches to
carbon-based products such as synthetic
fuels, chemicals, solid carbon products,
and inorganic materials.
(ii) Examples of ineligible property
include scrubbers for conventional air
pollutants, except those that are required
to remove pollutants upstream of carbon
capture equipment to enhance the performance of the capture equipment; energy
generation equipment, except as related
to energy recovery at carbon capture systems; and refining equipment.
c. Energy efficiency and reduction in
waste from industrial processes.
Examples of eligible equipment
include technologies that reduce direct
fuel use, electricity use, or waste in industrial applications, such as industrial heat
pumps, CHP systems, insulation, sensors,
controls, advanced recycling approaches,
smart energy management, and similar
advanced efficiency technologies.
d. Any other industrial technology
designed to reduce greenhouse gas
emissions, as determined by the
Secretary.
(i) Examples of other eligible industrial technologies include electrification
of direct fuel use processes, adoption of
renewable or low-emissions fuels and
feedstocks, and other equipment replacement or process redesigns that reduce
process- or fuel-related emissions or oth-

June 10, 2024

erwise contribute to reducing GHG emissions by at least 20 percent.
(ii) Projects in this category may qualify by installing equipment designed to
achieve a minimum of a 20 percent reduction in GHG emissions in one or more of
the following ways:
(A) Achieve a direct (Scope 1) GHG
emissions reduction of 20 percent facility-wide;
(B) Achieve an indirect fuel- or energy-related (Scope 2) GHG emissions
reduction of 20 percent facility-wide; or
(C) Achieve a direct or indirect fuel- or
energy-related GHG emissions reduction
of 20 percent at a facility subunit, such as
a particular process step or fuel combustion unit.
(iii) While facilities may be eligible
under this project category by achieving
a 20 percent reduction threshold within
a particular element of their process or
emissions profile, overall combined Scope
1 and Scope 2 GHG emissions impacts for
the full qualifying facility will be taken
into account when evaluating each project
for the purposes of application scoring.
Scope 1 and Scope 2 GHG emissions are
further defined in section 2.2 of Appendix
B, Glossary of Terms.
Instructions for calculating and
demonstrating an emissions reduction
of 20 percent is provided in section
2.6.1 of Appendix B, Data Sheet.
1.3 Critical Material Projects
A qualifying advanced energy project
in this category re-equips, expands, or
establishes an industrial facility for the
processing, refining, or recycling of critical materials (as defined in § 7002(a)
of the Energy Act of 2020 (30 U.S.C.

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§ 1606(a)). For purposes of this Round 2,
critical materials consist of:
a. The currently effective final list of
critical minerals as determined by the
U.S. Geological Survey (see 2022 Final
List of Critical Minerals for the list published in 2022 available at: https://www.
energy.gov/cmm/what-are-critical-materials-and-critical-minerals); and
b. Any additional critical materials as
determined by the Secretary of Energy
and for which a final determination is
posted on the DOE’s critical materials
page on or before July 31, 2023, available
at: http://www.energy.gov/criticalmaterials. A proposed determination was posted
at this web address prior to the publication
of this notice. Note: DOE reserves the
right to extend the deadline for concept
paper submissions based on any changes
included in the final determination.
Examples of eligible projects in this
project category include the processing of
raw ore, brines, mine tailings, end-of-life
products, waste streams, and other source
materials into critical materials. Note:
These examples have been updated with
additional clarifying language since the
publication of Notice 2023-18.
Examples of ineligible projects under
this project category include the subsequent physical or chemical transformation of critical materials into derivative
products, including metals manufacturing such as aluminum extrusion and
chemical manufacturing such as anode
and cathode materials production. However, projects involving such derivative
products may be eligible under the Clean
Energy Manufacturing and Recycling
Projects category. Note: These examples
have been updated with additional clarifying language since the publication of
Notice 2023-18.

Bulletin No. 2024–24

2 APPENDIX B – DOE Application Process
DOE Application Process
THIS APPENDIX B SUPERSEDES APPENDIX B OF NOTICE 2023-44.
2.1 Executive Summary
Appendix B provides guidance on the
DOE application process. The Appendix
is organized as follows:
•
•
•

Section 2.2 Glossary of Terms
defines key terms used throughout the
guidance.
Section 2.3 DOE Review Process
summarizes application process and
program priorities.
Section 2.4 Stage 1, Concept Paper
Guidance summarizes the concept
paper submission requirements,
the concept paper template, and the
review process.

•

•
•
•

Section 2.5 Stage 2, 48C(e) Application Guidance summarizes the
application submission requirements,
application submission guidelines,
and the review process.
Section 2.6 Additional Application
Materials summarizes the data sheet
and appendix files guidelines.
Section 2.7 Technical Review Criteria summarizes the criteria that DOE
will use to evaluate applications.
Section 2.8 Submission and Registration Information and Requirements summarizes the logistics and
requirements for submitting application materials.

•

•

•

Section 2.9 DOE Recommendation Process describes program policy factors DOE will use to evaluate
applications.
Section 2.10 Post Allocation
describes requirements for certification for successful applications after
allocations have been made.
Section 2.11 Questions/Comments
and Informational Webinar summarizes how to learn more about the
48C program.

Below are the key dates for Round 2 of the
48C Program.

Table 1: Program Key Dates
Guidance Issue Date
DOE 48C Portal Opens for registration and
concept paper submission
Informational Webinar
Submission Deadline for Concept Papers

48C Portal Opens for full application submission
Submission Deadline for § 48C(e) Applications

IRS Allocation Decision Notifications

Bulletin No. 2024–24

1487

04/30/2024
May 2024, and no later than
05/28/2024
No later than 05/31/2024
30 calendar days after the 48C Portal
Opens for registration and concept
paper submissions at 5:00 PM
Eastern
Summer 2024
Summer / Fall 2024; 50 calendar
days after the 48C Portal Opens to
accept full application submissions
at 11:59 PM Eastern
No later than 01/15/2025

June 10, 2024

2.2 Glossary of Terms
The following terms may be used throughout this appendix describing the DOE application process.
Disadvantaged Community

Scope 1 Emissions
Scope 2 Emissions

Scope 3 Emissions

Specified Advanced Energy Property

Facility Product

Registered Apprenticeship Program
Collective Bargaining Agreement
Project Labor Agreement

Community Benefits Agreement

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A disadvantaged community is overburdened or underserved and may be either (1) a group
of individuals living in geographic proximity (e.g., such as a census tract identified using
the Climate and Economic Justice Screening Tool), or (2) a geographically dispersed set of
individuals, where either type of group experiences common conditions.
Direct greenhouse gas emissions that occur from sources at the facility associated with the
proposed project (e.g., emissions from fuel combustion or chemical processes).
Indirect greenhouse gas emissions that are associated with the use of energy or fuel at the
facility, but do not occur at the facility (e.g., emissions from a power plant that generates
electricity for the facility).
Indirect greenhouse gas emissions that are associated with the facility’s activities and
products but are not covered in Scope 1 or 2, including emissions from the products themselves in their ultimate use, transportation, or other aspects of the value chain upstream or
downstream from the facility.
A specific category of property listed in 48C(c)(1)(A) and described in further detail in
section 1.1 of Appendix A, Clean Energy Manufacturing and Recycling Projects. Clean
Energy Manufacturing and Recycling Projects under § 48C(e) must either produce or recycle one or more specified advanced energy properties. For example, solar glass would be
considered a specified advanced energy property covered under section 1.1(a) of Appendix
A.
The equipment, materials, or other products produced in the facility associated with the
proposed project and typically sold or leased after production. Facilities may have more
than one facility product. Under the Clean Energy Manufacturing and Recycling Project
category, the specified advanced energy property of a clean energy manufacturing project
is likely to be the facility’s primary product/output. In contrast, the specified advanced
energy property of a clean energy recycling project is an input to the proposed facility,
while the facility product/output is typically one or more materials extracted in the recycling process. In a Critical Materials Recycling Project the qualified critical material
is the input to the proposed facility while facility product/output is the project’s specified
advanced energy property. Facility products from Industrial Decarbonization Projects do
not need to be specified advanced energy property.
A Registered Apprenticeship Program (RAP) is an apprenticeship that has been validated
by the Department of Labor or State Apprenticeship Agency.
A legally enforceable, written contract between a union representing a group of employees
and an employer in a workplace.
A Project Labor Agreement (PLA) is a pre-hire collective bargaining agreement negotiated between one or more construction unions and one or more construction employers
(contractors/project owners) that establish the terms and conditions of employment for a
specific construction project.
Community Benefits Agreements are contracts between employers/developers/contractors/
project owners and community organizations (including but not limited to unions). These
agreements, which can be in the manufacturing sector, the construction sector, or other
industries, may include provisions related to affordable housing, pollution reduction, or
other community priorities. Community Benefits Agreements are unique to each community and their terms will reflect the varied interest of their signatories. Some Community Benefits Agreements are Collective Bargaining Agreements between the contractor/
employer and one or more unions setting terms and conditions of employment—others
are not. If a Community Benefits Agreement is not a Collective Bargaining Agreement, it
cannot set out terms related to wages, rates of pay, hours of employment, or conditions of
work.

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Bulletin No. 2024–24

2.3 DOE Review Process
2.3.1 Program Process
A two-stage technical evaluation process will be used for submissions:
•
•

Stage 1: Concept Paper.
Stage 2: § 48C(e) Application.

In Stage 1, concept paper submission
application materials will be available
for applicants to download from the 48C
portal and concept paper submissions will
be accepted in the 48C portal beginning
no later than May 28, 2024. DOE will
only consider concept papers that are
submitted by 5:00 PM Eastern Time,
30 days after the 48C portal opens.
Section 48C(e) applications for Round 2
allocations will not be considered by DOE
unless a Round 2 concept paper submission is received from an applicant by the
specified deadline. Potential applicants
will not be able to begin concept papers or

submit concept papers for Round 2 after
the deadline.
In Stage 2, following DOE’s review of
concept papers and transmission of letters
encouraging or discouraging the applicant
to continue in the process, the 48C portal
will reopen to receive § 48C(e) application
submissions for subsequent evaluation by
DOE. The date on which DOE will begin
accepting § 48C(e) applications and the
deadline by which they must be submitted
will be conveyed to applicants through the
48C portal at a later date.
In each stage, DOE will review the
submitted materials for compliance and
eligibility, and perform a thorough, consistent, and objective examination based
on technical review criteria and other factors, as described below.
After Stage 2 evaluations of § 48C(e)
applications are complete, DOE will
transmit allocation recommendations to
the IRS for final consideration. The IRS
will notify applicants of final allocation
decisions for Round 2 no later than January 15, 2025.

In conducting its review, DOE may
utilize assistance and advice from qualified personnel from other federal agencies
and/or contractors. DOE will obtain conflict of interest/non-disclosure acknowledgements from and administer required
trainings in advance for all reviewers to
assure that application information will be
kept confidential and shall be used only
for reviewing purposes, in accordance
with applicable requirements. Reviewers
will be required to report all personal and
organizational conflicts of interest.
DOE reserves the right to request clarifications and/or supplemental information
from some or all applicants submitting
applications through written submissions.
DOE may determine whether to recommend or not recommend an application
to the IRS at any time after the § 48C(e)
application has been received, without
further exchanges or discussions with the
applicant.
2.3.2 Program Key Dates

Table 2: Program Key Dates
Guidance Issue Date
DOE 48C Portal Opens for registration and concept paper submission
Informational Webinar
Submission Deadline for Concept Papers

48C Portal Opens for full application submission
Submission Deadline for § 48C(e) Applications

IRS Allocation Decision Notifications
2.3.3 Program Priorities
There are three qualifying advanced
energy project categories (defined in
Appendix A): Clean Energy Manufacturing and Recycling Projects, Industrial
Decarbonization Projects, and Critical
Material Projects. Note that in Round 1,
the Industrial Decarbonization Project
category was referred to as “Greenhouse

Bulletin No. 2024–24

04/30/2024
May 2024, and no later than
05/28/2024
No later than 05/31/2024
30 calendar days after the 48C Portal
Opens for registration and concept
paper submissions at 11:59 PM
Eastern
Summer 2024
Summer / Fall 2024; 50 calendar
days after the 48C Portal Opens to
accept full application submissions
at 11:59 PM Eastern
No later than 01/15/2025

Gas Emissions Reduction Projects”; the
updated project category name in Round
2 is a change in terminology only, and it is
designed to avoid confusion with the second technical review criterion (detailed
below).
It is the applicant’s responsibility to
determine the most applicable qualifying advanced energy project category,
according to the guidance in Section

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2.8.2, Determining an Application’s
Project Category. For all three project
categories, eligible applications will be
evaluated by DOE against the four technical review criteria reflecting overall
program objectives:
•
•

Criterion 1: Commercial Viability
Criterion 2: Greenhouse Gas Emissions Impacts

June 10, 2024

•
•

Criterion 3: Strengthening U.S. Supply Chains and Domestic Manufacturing for a Net-Zero Economy
Criterion 4: Workforce and Community Engagement

A taxpayer with a qualified investment
in any of the projects described as eligible
in Appendix A of this guidance may apply
for a § 48C(e) allocation. In determining
whether to recommend a project for an
allocation, DOE will consider whether the
proposed project is located in § 48C(e)
Energy Communities Census Tracts, as
defined in section 5.06 of Notice 2023-18.
In Round 2, DOE anticipates recommending approximately $2.5 billion in § 48C
credits to projects located in these communities.
DOE has identified the following priority areas for Round 2. Guidance for future
rounds under § 48C(e) may include different priority areas.
When evaluating Clean Energy Manufacturing and Recycling Projects, DOE
will take into consideration whether the
project addresses the following energy
supply chain and manufacturing priority
areas. These priority areas have been identified based on analytical criteria including an assessment of current and anticipated supply chain gaps in areas eligible
under § 48C(e):
Round 2 Priority Areas (in alphabetical order):
• Clean Hydrogen: Manufacturing of
electrolyzers, fuel cells, and associated components (including gas diffusion layers, bipolar plates, power
electronics, membrane electrode
assemblies and stacks, and catalysts).
• Electric Grid: Manufacturing of distribution and large power transformers and associated subcomponents,
materials (including grain-oriented
electrical steel, amorphous steel),
power electronics, HVDC cables,
HV circuit breakers, and other grid
components and equipment (including MVDC/HVDC converter station
components and switchgears).
• Electric Heat Pumps: Manufacturing
of air-source or geothermal (groundsource) heat pump components and
systems, particularly heat pumps for
industrial or networked applications

June 10, 2024

•

•

•

•

•

•

and/or those utilizing low-GWP refrigerants (such as natural refrigerants).
Electric Vehicles**: Manufacturing
of power electronics (including semiconductors, modules, and circuits for
EV motor traction drives, on-board
EV chargers, DC/DC converters, and
EV charging stations), permanent
magnets, and specific battery components (separators, electrolyte salts and
solvents, cathode and anode active
materials and precursors). Manufacturing of capital equipment for battery manufacturing. Manufacturing
of sub-components and components
specific to medium- and/or heavyduty (MDV/HDV) electric vehicles
and final assembly of MDV/HDV
electric vehicles.
Energy-intensive materials that have
a substantially lower carbon intensity when compared to an appropriate
industry-specific benchmark: Manufacturing or recycling of low carbon
cement, concrete or components such
as supplementary cementitious materials, low carbon iron and steel, and
low carbon aluminum
Nuclear Energy: Manufacturing of
specialized components and equipment for nuclear power reactors or
their fuels (including fabrication of
fuels, and manufacturing of equipment for conversion, enrichment, and
deconversion), for both existing reactors and new reactor deployments.
Solar Energy**: Polysilicon, wafer
production facilities, ingot and wafer
production tools, and solar rolled
glass production facilities.
Sustainable Aviation Fuels: Manufacturing of equipment needed for
low-carbon aviation fuel production
(including feedstock handling equipment and pre-treatment reactors).
Wind Energy**: Component production facilities and specialized steel
production, particularly for offshore
wind, such as monopile-grade steel
and towers; recycling of wind components, particularly blades; offshore
wind electrical balance of system
component manufacturing, including
submarine cables (AC and DC), large
power transformers, and HVDC converter stations and converter station
components.

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Federal Register : Section 45X
Advanced Manufacturing Production
Credit ** The production of some products
under this section may be eligible for tax
credits under § 45X and receiving an allocation under § 48C(e) may preclude an
applicant from receiving tax credits under
that program. Applicants are encouraged
to evaluate which program may be most
beneficial to their project before submitting a concept paper for consideration
under § 48C(e).
When evaluating Critical Material
Manufacturing and Recycling Projects,
DOE will take into consideration whether
the project processes, refines, or recycles
critical materials as determined by the
Secretary of Energy, as described in section 1.3(b) of Appendix A.
When evaluating Industrial Decarbonization Projects, DOE will give priority
to projects that deeply reduce emissions
to levels significantly below a reasonable domestic industry average (on a sector-specific basis) and the 20% reduction
eligibility requirement stated in section
1.2 of Appendix A, Industrial Decarbonization Projects. DOE will give priority
to Industrial Decarbonization Projects
that advance the commercial viability
and uptake of replicable decarbonization
efforts in major industrial applications
(e.g., cement, iron and steel, aluminum,
chemicals, and other energy-intensive
manufacturing sectors), including innovative solutions, and to projects that align
with one or more cross-cutting industrial decarbonization techniques, such as
energy efficiency, electrification, low-carbon fuels, feedstocks, and energy sources
(LCFFES), material efficiency or substitution, and carbon capture utilization and
storage (CCUS).
2.4 Stage 1, Concept Paper Guidance
The first stage of DOE review requires
applicants to submit concept papers
describing the proposed project. This section describes the information applicants
must include in concept papers and the
format of the submission. Concept papers
will undergo a multi-step evaluation by
DOE. Applicants who applied in Round
1 and were not selected for an allocation
are eligible to submit a concept paper in
Round 2.

Bulletin No. 2024–24

2.4.1 Concept Paper Submission
Requirements

•

This section outlines the format of the
concept paper submission. See Appendix A for a description of the eligibility
requirements for the § 48C credit under
this notice. See Section 2.7, Technical
Review Criteria, for a description of the
technical review criteria that will be used
to evaluate submitted concept papers.
The purpose of the concept paper stage
is to save applicants the considerable
time and expense of preparing § 48C(e)
applications for proposed projects that are
unlikely to be selected for recommendation. The concept paper must conform to
the following requirements:
•
•

Concept paper must be written in
English.
Use Times New Roman typeface,
a black font, and a font size of 11
points or larger (except in figures and
tables). A symbol font may be used to
insert Greek letters or special characters; the font size requirement still
applies.

•

The control number must be prominently displayed on the upper right
corner of the header of every page.
Page numbers must be included in the
footer of every page.
Each must be submitted in Adobe
PDF format unless stated otherwise.

Each concept paper should be limited
to unique property within a distinct qualifying advanced energy project that does
not overlap with a qualifying advanced
energy project in any other application
submitted by the same applicant:
•

•

For applicants applying under the
Clean Energy Manufacturing and
Recycling Project category, or the
Critical Materials Project category,
the applicant may submit more
than one application involving the
same facility. However, the qualified investment for each project at
the same facility may not overlap in
Round 2.
For applicants applying under the
Industrial Decarbonization Project
category, the applicant may submit

only one application at the same facility in Round 2.
If projects involve more than one qualifying advanced energy project listed in
Appendix A, then applicants must choose
a primary specified advanced energy
property for their project. The entire
concept paper submission includes two
components: a template (there are unique
forms for Clean Energy Manufacturing
and Recycling Projects/Critical Materials
Projects and Industrial Decarbonization
Projects) and a data sheet.
Note: The maximum file size that
can be uploaded to the 48C portal is 25
MB. Files in excess of 25 MB cannot be
uploaded, and hence cannot be submitted
for review. If a file exceeds 25 MB but
is still within the maximum page limit,
it must be broken into parts and denoted
to that effect in the naming convention
of the file. For example: “[ControlNumber]-ConceptPaper_Part_1.pdf”, “[ControlNumber]-ConceptPaper_Part_2.pdf.
The full list of required files for concept paper submission is illustrated in the
following table.

Table 3: Files Required for Concept Paper Submission
Component

File Format

Concept Paper Template
(either the Clean Energy Manufacturing and Recycling
Projects/Critical Materials Projects Template or the Industrial
Decarbonization Projects Template)
Concept Paper Data Sheet

For all files, “[ControlNumber]”
should be replaced by the application’s
control number. For example, for a control
number of 1234, the file would be named,
“1234-ConceptPaper.pdf”.
2.4.2 Concept Paper Template
At the Concept Paper stage, applicants
may be asked to respond to the following
questions in their submission. Additional
questions may be added to this list when

Bulletin No. 2024–24

PDF

Maximum
Pages
5

MS Excel

N/A

Concept Paper submissions open. In addition, applicants will be asked to submit an
Excel data sheet.

o

2.4.2.1 Clean Energy Manufacturing
and Recycling and Critical Materials
Projects Concept Paper Template
•

Project Overview and Schedule
o Describe your company and project
team, including key personnel and
any subcontractors on the project.

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o

File Name
[ControlNumber]ConceptPaper.pdf

[ControlNumber]-CPDataSheet.xlsx

Describe whether the project will establish, re-equip, or
expand a facility; whether the
facility will support the manufacturing, processing, refining, or recycling of specified
advanced energy property; and
the extent to which innovative
equipment and/or processes will
be employed.
Describe the status of the project and provide any additional

June 10, 2024

•

•

details that are helpful to understand the project schedule.
o List local, state, and/or federal
permits that are required for
this project and specify which
of these permits you already
possess. For any permits you
have yet to obtain, describe the
remaining steps and provide
an estimated timeline for their
acquisition.
Commercial Viability
o Describe the specified primary
advanced energy property that
will be produced by the facility,
including how many units of
specified advanced energy property will be produced annually
and any technological or cost
advantages over product competitors.
o Provide an estimate of annual
market demand for the facility’s
product over the next 5 to 10
years.
o Describe the primary or target
customers for your facility’s
product and the details of any
existing offtake agreements or
other demand commitments
(e.g., with whom, for how many
units, and for how long).
o Describe the different sources of
financing for this project, differentiating between secured financing and planned or expected
financing. Describe the capital
structure (e.g., debt/equity ratio)
if multiple sources of capital will
be used. If financing using the
company’s own funds, specify
the amount of cash available to
support this project.
o Describe anticipated legal, financial, engineering, procurement,
construction, and operational
risk(s) that the project may experience. Explain what actions the
project team will implement to
mitigate these risks and achieve
execution and commercial success.
Strengthening U.S. Supply Chains
and Domestic Manufacturing for a
Net-Zero Economy
o Describe the supply chain segment that your project’s specified

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•

•

advanced energy property will
contribute to. Explain whether
your project will mitigate current
challenges that the U.S. is experiencing in maintaining a secure
domestic supply chain, based on
where the product is manufactured today and a comparison
between the proposed manufacturing capacity and current and
projected market demand.
Greenhouse Gas Emissions Impacts
o Describe the impact of your
facility’s product and/or the technologies the product will enable
on greenhouse gas emissions.
Workforce and Community Engagement
o Provide the anticipated geographical location of the eligible
manufacturing, processing, refining, or recycling facility, including the census tract the project
is located in. Explain why you
selected the project site.
o Does the location qualify as a
48C energy community? (see
Appendix C for the full list of
48C energy community Census
tracts)
o Does the location or community
qualify as a disadvantaged community according to the Climate
and Economic Justice Screening
Tool (CEJST)?
o Does the location or community
qualify as a disadvantaged community according to a different
federal, state, or local data tool?
If yes, indicate which one(s).
o If located in an energy community, describe the extent to which
the project will (1) support transition opportunities for workers in the coal, automotive, and
other energy sectors, and (2) use
existing infrastructure in energy
transition communities.
o Describe the extent to which the
project will secure job quality
(e.g., wages, benefits, health and
safety at the workplace, affirmative support of collective bargaining).
o Describe what labor and community engagement has been completed and/or is planned. Sum-

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marize any formal agreements
that are planned or have been
executed (e.g., Project Labor
Agreements, Community Benefits Agreements, Collective Bargaining Agreements).
Describe any pollutants that the
project will introduce to the local
community, and explain what
specific, measurable steps the
project is taking beyond compliance with environmental law
to mitigate local environmental
impact.

2.4.2.2 Industrial Decarbonization
Projects Concept Paper Template
•

•

Project Overview and Schedule
o Describe your company and
project team, including key personnel and any subcontractors on
the project.
o Describe the retrofit project,
including the equipment, technologies, or approaches the project will use to reduce greenhouse
gas emissions from the industrial
or manufacturing facility (e.g.,
low- or zero-carbon process heat
systems, energy efficiency equipment, etc.). Explain the extent to
which innovative equipment and/
or processes will be employed.
o Describe the status of the project and provide any additional
details that are helpful to understand the project schedule.
o List local, state, and/or federal
permits that are required for this
project. Specify which of these
permits you already possess.
For any permits you have yet
to obtain, provide an estimated
timeline for their acquisition.
Greenhouse Gas Emissions Impacts
o Describe the impacts of the
project on the facility’s Scope 1
greenhouse gas emissions.
o Describe the impacts of the
project on the facility’s Scope 2
greenhouse gas emissions.
o Explain how the project will
achieve a 20% reduction in greenhouse gas emissions, including
interactions between Scope 1
and Scope 2 emissions (e.g., due

Bulletin No. 2024–24

•

•

to electrification). Estimate the
greenhouse gas emissions reductions that will be achieved by the
project in both absolute (e.g.,
million metric tons per year) and
percentage terms.
o Provide an estimate of the levelized cost of measured reduction
in GHG emissions, based on total
project costs.
Strengthening U.S. Supply Chains
and Domestic Manufacturing for a
Net-Zero Economy
o Describe the extent to which the
employed equipment, technologies, or approaches could be
applied to reduce greenhouse gas
emissions beyond the specific
project location, within or across
sectors.
Commercial Viability
o Describe the facility’s outputs, including how many units
are produced annually today.
Explain any anticipated impacts
of the retrofit project on annual
production from the facility.
o Describe the primary or target
customers for your facility’s
products and the details of any
existing offtake agreements or
other demand commitments for
the lower-carbon product (e.g.,
with whom, for how many units,
and for how long).
o Describe how the retrofit project will impact the price of your
product and provide an estimated
price of your facility’s products
after the project is completed.
Describe how the price of your
lower-carbon product will compare to similar technologies or
materials in the same market
segment, including conventional
and lower-carbon products.
o Describe the different sources of
financing for this project, differentiating between secured financing and planned or expected
financing. Describe the capital
structure (e.g. debt/equity ratio)
if multiple sources of capital will
be used. If financing using the
company’s own funds, specify
the amount of cash available to
support this project.

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•

Describe anticipated legal, financial, engineering, procurement,
construction, and operational
risk(s) that the project may experience. Explain what actions the
project team will implement to
mitigate these risks and achieve
execution and commercial success.
Workforce and Community Engagement
o Provide the anticipated geographical location of the project, including the census tract
(see Appendix C) the project is
located in.
o Does the location or community
qualify as a disadvantaged community according to the Climate
and Economic Justice Screening
Tool (CEJST)?
o Does the location or community
qualify as a disadvantaged community according to a different
federal, state, or local data tool?
If yes, indicate which one(s).
o Does the location qualify as a
48C energy community?
o If located in an energy community, describe the extent to which
the project will (1) support transition opportunities for workers in the coal, automotive, and
other energy sectors, and (2) use
existing infrastructure in energy
transition communities.
o Describe the impact of the project on jobs at the facility, including jobs associated with the retrofit and the extent to which the
retrofit will retain or create jobs
in manufacturing.
o Describe the extent to which the
project will secure job quality
(e.g., wages, benefits, health and
safety at the workplace, affirmative support of collective bargaining).
o Describe what labor and community engagement has been completed and/or is planned. Summarize any formal agreements
that are planned or have been
executed (e.g., Project Labor
Agreements, Community Benefits Agreements, Collective Bargaining Agreements).

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Describe any pollutants that the
project will introduce to the local
community, and explain what specific, measurable steps the project
is taking beyond compliance with
environmental law to mitigate
local environmental impact.

2.4.3 Concept Paper Review Process
Overview
2.4.3.1 Compliance and Eligibility
Review
DOE will carry out an initial compliance
review for concept papers to determine that
(1) eligibility requirements have been met,
(2) the required information has been submitted, (3) the proposed project is technically valid, and (4) all mandatory requirements of this notice are satisfied. As part of
this review, DOE will determine whether
the proposed project meets the definition
of a qualifying advanced energy project, as
described in Appendix A.
If a concept paper fails to meet compliance or eligibility requirements or fails
to provide sufficient information for evaluation, DOE reserves the right to request
clarifications and/or missing information
from some or all applicants through written submissions provided to DOE in a
timely manner. Concept papers that fail to
meet the compliance or eligibility requirements or do not provide sufficient information for evaluation will be considered
non-responsive and will receive a discouragement letter.
2.4.3.2 Technical Review
After the concept paper compliance
and eligibility review, DOE will perform
a technical review process based on four
technical review criteria:
•
•
•
•

Criterion 1: Commercial Viability.
Criterion 2: Greenhouse Gas Emissions Impacts.
Criterion 3: Strengthening U.S. Supply Chains and Domestic Manufacturing for a Net-Zero Economy.
Criterion 4: Workforce and Community Engagement.

See complete details of the technical
review criteria in Section 2.7, Technical

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Review Criteria. All technical review criteria will be used in a thorough, consistent, and objective examination to develop
scores for ranking applications and determining merit of each proposed project.
The review of the Commercial Viability
criterion will additionally inform eligibility by determining whether the project
has a reasonable expectation of commercial viability, as described in § 48C(d)(3)
(A). The info

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Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Airs%3A3cd1ecaefbe7a13f. Public record. Not legal advice.