### Question
How is the term new clean renewable energy bond defined?


### Answer
The term **new clean renewable energy bond** is defined in *26 U.S.C. § 54C* as the following:

> any bond issued as part of an issue if—



(1) 100 percent of the available project proceeds of such issue are to be used for capital expenditures incurred by governmental bodies, public power providers, or cooperative electric companies for one or more qualified renewable energy facilities,



(2) the bond is issued by a qualified issuer, and



(3) the issuer designates such bond for purposes of this section

#### Citation:
  - *26 U.S.C. § 54C*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter A-Determination of Tax Liability > PART IV-CREDITS AGAINST TAX > Subpart I-Qualified Tax Credit Bonds**

