to partnerships In the case of a credit under subsection (a) which is determined at the partnership level— (i) for purposes of paragraph (1)(A), a qualified public entity shall be treated as the taxpayer with respect to such entity’s distributive share of such credit, and (ii) the term eligible project partner shall include any partner of the partnership. (B) Taxable year in which credit taken into account In the case of any credit (or portion thereof) with respect to which an election is made under paragraph (1), such credit shall be taken into account in the first taxable year of the eligible project partner ending with, or after, the qualified public entity’s taxable year with respect to which the credit was determined. (C) Treatment of transfer under private use rules For purposes of section 141(b)(1), any benefit derived by an eligible project partner in connection with an election under this subsection shall not be taken into account as a private business use. . (2) Special rule for proceeds of transfers for mutual or cooperative electric companies Section 501(c)(12) of such Code is amended by adding at the end the following new subparagraph: (I) In the case of a mutual or cooperative electric company described in this paragraph or an organization described in section 1381(a)(2), income received or accrued in connection with an election under section 45J(e)(1) shall be treated as an amount collected from members for the sole purpose of meeting losses and expenses. . (c) Effective dates (1) Treatment of unutilized limitation amounts The amendment made by subsection (a) shall take effect on the date of the enactment of this Act. (2) Transfer of credit by certain public entities The amendments made by subsection (b) shall apply to taxable years beginning after December 31, 2017.