inflation adjustment factor for such calendar year in accordance with this subsection. (3) Inflation adjustment factor 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. (e) Credit phase-Out (1) In general If the Secretary, in consultation with the Secretary of Energy and the Administrator of the Environmental Protection Agency, determines that the annual greenhouse gas emissions from electrical production in the United States are equal to or less than 50 percent of the annual greenhouse gas emissions from electrical production in the United States for calendar year 2019, the amount of the clean energy production credit under subsection (a) for any qualified facility placed in service during a calendar year described in paragraph (2) shall be equal to the product of— (A) the amount of the credit determined under subsection (a) without regard to this subsection, multiplied by (B) the phase-out percentage under paragraph (2). (2) Phase-out percentage The phase-out percentage under this paragraph is equal to— (A) for a facility placed in service during the first calendar year following the calendar year in which the determination described in paragraph (1) is made, 75 percent, (B) for a facility placed in service during the second calendar year following such determination year, 50 percent, (C) for a facility placed in service during the third calendar year following such determination year, 25 percent, and (D) for a facility placed in service during any calendar year subsequent to the year described in subparagraph (C), 0 percent. (f) Definitions In this section: (1) CO 2 e per