facility which— (A) is capable of transmitting electricity at a voltage of not less than 345 kilovolts, (B) has a transmission capacity of not less than 1,000 megawatts, (C) is an alternating current or direct current transmission line, and (D) delivers power produced in either a rural area or offshore, and (2) any conductors or cables, towers, insulators, reactors, capacitors, circuit breakers, static VAR compensators, static synchronous compensators, power converters, transformers, synchronous condensers, braking resistors, and any ancillary facilities and equipment necessary for the proper operation of the facility described in paragraph (1). (d) Termination This section shall not apply to any property placed in service after December 31, 2029. . (b) Conforming amendments (1) Section 46 of the Internal Revenue Code of 1986 is amended— (A) by striking and at the end of paragraph (5), (B) by striking the period at the end of paragraph (6) and inserting , and , and (C) by adding at the end the following new paragraph: (7) the qualifying electric power transmission line credit. . (2) Section 49(a)(1)(C) of such Code is amended— (A) by striking and at the end of clause (iv), (B) by striking the period at the end of clause (v) and inserting , and , and (C) by adding at the end the following new clause: (vi) the basis of any qualifying electric power transmission line property under section 48D. . (3) The table of sections for subpart E of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 48C the following new item: Sec. 48D. Qualifying electric power transmission line credit. . (c) Effective date The amendments made by this section shall apply to property placed in service after December 31, 2019.