grants for specified energy property placed in service in Puerto Rico, $270,000,000, and (2) for providing grants for specified energy property placed in service in the Virgin Islands, $20,000,000, to remain available until expended. 112. Incentives for energy efficient commercial buildings (a) Grant program for Puerto Rico and the Virgin Islands (1) In general Upon application, the Secretary of the Treasury shall, subject to the requirements of this subsection, provide a grant to each eligible person who places in service energy efficient commercial building property to reimburse such person for a portion of the expense of such property as provided in paragraph (2). No grant shall be made under this subsection with respect to any property unless such property is placed in service after September 6, 2017. (2) Grant amount The amount of the grant under paragraph (1) with respect to any energy efficient commercial building property shall be equal to the product of— (A) 35 percent, and (B) the excess of— (i) the product of— (I) $1.80, and (II) the square footage of the building, over (ii) the aggregate amount of all prior grants under paragraph (1) with respect to the building. (3) Time for Payment of Grant The Secretary of the Treasury shall make payment of any grant under paragraph (1) during the 60-day period beginning on the later of— (A) the date of the application for such grant, or (B) the date the energy efficient commercial building property for which the grant is being made is placed in service. (4) Energy efficient commercial building property For purposes of this subsection, the term energy efficient commercial building property has the meaning given such term under section 179D(c) of the Internal Revenue Code of 1986, except that— (A) the determination of whether depreciation (or amortization in lieu of depreciation) is allowable under such section 179D(c)(1)(A) shall be made without regard to section 933 of such Code, (B) such section 179D(c)(1)(B)(i) shall be applied by substituting Puerto Rico or