[Code of Federal Regulations]
[Title 26, Volume 6]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.468A-0]

[Page 335-336]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.468A-0  Nuclear decommissioning costs; table of contents.

    This section lists the paragraphs contained in Sec. Sec. 1.468A-1 
through 1.468A-8.

      Sec. 1.468A-1 Nuclear decommissioning costs; general rules.

    (a) Introduction.
    (b) Definitions.
    (c) Special rules applicable to certain experimental nuclear 
facilities.
    (d) Special rules for electing taxpayers whose rates are under the 
jurisdiction of the Rural Electrification Administration.

             Sec. 1.468A-2 Treatment of electing taxpayer.

    (a) In general.
    (b) Limitation on payments to a nuclear decommissioning fund.
    (1) In general.
    (2) Cost of service amount.
    (c) Deemed payment rules.
    (d) Treatment of distributions.
    (1) In general.
    (2) Exceptions to inclusion in gross income.
    (i) Payment of administrative costs and incidental expenses.
    (ii) Withdrawals of excess contributions.
    (iii) Actual distributions of amounts included in gross income as 
deemed distributions.
    (e) Deduction when economic performance occurs.
    (f) Effect of interim rate orders and retroactive adjustments to 
such orders.
    (1) In general.
    (2) Special rule permitting withdrawal of excess contribution that 
results from retroactive adjustment to interim rate order.
    (3) Revised schedule of ruling amounts.
    (4) Example.

                      Sec. 1.468A-3 Ruling amount.

    (a) In general.
    (b) Level funding limitation.
    (c) Funding period.
    (1) General rule.
    (2) Examples.
    (d) Decommissioning costs allocable to a fund.
    (1) General rule.
    (2) Total estimated cost of decommissioning.
    (3) Taxpayer's share.
    (4) Qualifying percentage.
    (e) Determination of estimated dates.

[[Page 336]]

    (f) Special rules in the case of rates established or approved by 
two or more public utility commissions.
    (g) Requirement of determination by public utility commission of 
decommissioning costs to be included in cost of service.
    (h) Manner of requesting schedule of ruling amounts.
    (1) In general.
    (2) Information required.
    (3) Administrative procedures.
    (i) Review and revision of schedule of ruling amounts.
    (1) Mandatory review.
    (2) Elective review.
    (3) Determination of revised schedule of ruling amounts.
    (j) Special rule permitting payments to a nuclear decommissioning 
fund before receipt of an initial or revised ruling amount applicable to 
a taxable year.

        Sec. 1.468A-4 Treatment of nuclear decommissioning fund.

    (a) In general.
    (b) Modified gross income.
    (c) Special rules.
    (1) Period for computation of modified gross income.
    (2) Gain or loss upon distribution of property by a fund.
    (3) Denial of credits against tax.
    (4) Other corporate taxes inapplicable.
    (d) Treatment as corporation for purposes of subtitle F.

 Sec. 1.468A-5 Nuclear decommissioning fund--miscellaneous provisions.

    (a) Qualification requirements.
    (1) In general.
    (2) Limitation on contributions.
    (3) Limitation on use of fund.
    (i) In general.
    (ii) Definition of administrative costs and expenses.
    (4) Trust provisions.
    (b) Prohibitions against self-dealing.
    (1) In general.
    (2) Self-dealing defined.
    (3) Disqualified person defined.
    (c) Disqualification of nuclear decommissioning fund.
    (1) In general.
    (2) Exception to disqualification.
    (i) In general.
    (ii) Excess contribution defined.
    (iii) Taxation of income attributable to an excess contribution.
    (3) Effect of disqualification.
    (d) Termination of nuclear decommissioning fund upon substantial 
completion of decommissioning.
    (1) In general.
    (2) Substantial completion of decommissioning defined.

   Sec. 1.468A-6 Disposition of an interest in a nuclear power plant.

    (a) In general.
    (b) Requirements.
    (c) Tax consequences.
    (1) The transferor and its Fund.
    (2) The transferee and its Fund.
    (3) Basis.
    (d) Determination of proportionate amount.
    (e) Calculation of schedule of ruling amounts for dispositions 
described in this section.
    (1) Transferor.
    (2) Transferee.
    (3) Example.
    (f) Calculation of the qualifying percentage after dispositions 
described in this section.
    (1) In general.
    (2) Special rule.
    (g) Other.
    (1) Anti-abuse provision.
    (2) Relief provision.
    (h) Effective date.

         Sec. 1.468A-7 Manner of and time for making election.

    (a) In general.
    (b) Required information.

          Sec. 1.468A-8 Effective date and transitional rules.

    (a) Effective date.
    (1) In general.
    (2) Cut-off method applicable to electing taxpayers.
    (b) Transitional rules.
    (1) Time for filing request for schedule of ruling amounts.
    (2) Manner of and time for making contributions to a nuclear 
decommissioning fund.
    (3) Manner of and time for making election.
    (4) Determination of cost of service limitation.
    (5) Assumptions and determinations to be used in determining ruling 
amounts.
    (6) Exception to level funding limitation.
    (7) Determination of qualifying percentage.
    (8) Limitation on payments to a nuclear decommissioning fund.
    (9) Denial of interest on overpayment.
    (10) Determination of addition to tax for failure to pay estimated 
tax.
    (11) Nuclear decommissioning fund qualification requirements.

[T.D. 8184, 53 FR 6804, Mar. 3, 1988, as amended by T.D. 8461, 57 FR 
62199, Dec. 30, 1992; T.D. 8580, 59 FR 66473, Dec. 27, 1994]