### Question
How does the law define qualified investment credit facility?


### Answer
Under *26 U.S.C. § 48*, **qualified investment credit facility** is defined as:

> any facility—


(i) which is a qualified facility (within the meaning of section 45) described in paragraph (1), (2), (3), (4), (6), (7), (9), or (11) of section 45(d),


(ii) which is placed in service after 2008 and the construction of which begins before January 1, 2021, and


(iii) with respect to which—


(I) no credit has been allowed under section 45, and


(II) the taxpayer makes an irrevocable election to have this paragraph apply

#### Citation:
  - *26 U.S.C. § 48*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter A-Determination of Tax Liability > PART IV-CREDITS AGAINST TAX > Subpart E-Rules for Computing Investment Credit**

