by the Secretary. (4) Credits may be stripped Under regulations prescribed by the Secretary— (A) In general There may be a separation (including at issuance) of the ownership of a clean energy bond and the entitlement to the credit under this section with respect to such bond. In case of any such separation, the credit under this section shall be allowed to the person who on the credit allowance date holds the instrument evidencing the entitlement to the credit and not to the holder of the bond. (B) Certain rules to apply In the case of a separation described in subparagraph (A), the rules of section 1286 shall apply to the clean energy bond as if it were a stripped bond and to the credit under this section as if it were a stripped coupon. (h) Regulations The Secretary may prescribe such regulations and other guidance as may be necessary or appropriate to carry out this section and section 6431. . (b) Credit for qualified clean energy bonds allowed to issuer Subchapter B of chapter 65 of subtitle F is amended by adding at the end the following new section: 6431. Credit for qualified clean energy bonds allowed to issuer (a) In general The issuer of a qualified clean energy bond shall be allowed a credit with respect to each interest payment under such bond which shall be payable by the Secretary as provided in subsection (b). (b) Payment of credit (1) In general The Secretary shall pay (contemporaneously with each interest payment date under such bond) to the issuer of such bond (or to any person who makes such interest payments on behalf of the issuer) the applicable percentage (as determined under subsection (b) of section 54) of the interest payable under such bond on such date. (2) Interest payment date For purposes of this subsection, the term interest payment date means each date on which interest is payable by the issuer under the terms of the bond. (c) Application of arbitrage rules For purposes of section 148, the yield on a qualified clean energy bond shall be reduced by the credit allowed under this