inflation adjustment factor
Defined in 5 places — 3 distinct definitions of the United States Code.
The term "inflation adjustment factor" means, with respect to a calendar year, a fraction the numerator of which is the GDP implicit price deflator for the preceding calendar year and the denominator of which is the GDP implicit price deflator for the calendar year 1992. The term "GDP implicit price deflator" means the most recent revision of the implicit price deflator for the gross domestic product as computed and published by the Department of Commerce before March 15 of the calendar year.
Same definition in 2 sections
- 1994–present26 U.S.C. § 45Internal Revenue Code · Electricity produced from certain renewable resources, etc. · under this section
- 2022–present26 U.S.C. § 45YInternal Revenue Code · Clean electricity production credit · in this section
The term “inflation adjustment factor” means, with respect to a calendar year, a fraction the numerator of which is the GNP implicit price deflator for the calendar year and the denominator of which is the GNP implicit price deflator for calendar year 1979. The term “GNP implicit price deflator” means the first revision of the implicit price deflator for the gross national product as computed and published by the Department of Commerce.
Same definition in 2 sections
- 1994–present26 U.S.C. § 29Internal Revenue Code · Renumbered 45K] · under this section
- 2005–present26 U.S.C. § 45KInternal Revenue Code · Credit for producing fuel from a nonconventional source · under this section
The term “inflation adjustment factor” means, with respect to any calendar year, a fraction the numerator of which is the GNP implicit price deflator for the preceding calendar year and the denominator of which is the GNP implicit price deflator for 1990. For purposes of the preceding sentence, the term “GNP implicit price deflator” means the first revision of the implicit price deflator for the gross national product as computed and published by the Secretary of Commerce. Not later than April 1 of any calendar year, the Secretary shall publish the inflation adjustment factor for the preceding calendar year.
Source
- 1994–present26 U.S.C. § 43Internal Revenue Code · Enhanced oil recovery credit · in this section