FERC
Defined in 1 place of the United States Code.
For purposes of subparagraph (C)(ii), the term “FERC” means—
(i) the Federal Energy Regulatory Commission, or
(ii) in the case of any utility with respect to which all of the electricity generated, transmitted, or distributed by such utility is generated, transmitted, distributed, and consumed in the same State, the State agency of such State with the authority to regulate electric utilities.
Source
- 2018–present26 U.S.C. § 501Internal Revenue Code · Exemption from tax on corporations, certain trusts, etc. · under this section
For purposes of subparagraph (C)(ii), the term “FERC” means the Federal Energy Regulatory Commission and references to such term shall be treated as including the Public Utility Commission of Texas with respect to any ERCOT utility (as defined in section 212(k)(2)(B) of the Federal Power Act (16 U.S.C. 824k(k)(2)(B))).
Source
- 2005–201826 U.S.C. § 501Internal Revenue Code · Exemption from tax on corporations, certain trusts, etc. · under this section