December 31, 2022, placed in service hydropower improvement property (as defined in section 48F(c)), such taxpayer shall be treated as an applicable entity for purposes of this section for such taxable year, but only with respect to the credit described in subsection (b)(13). . (2) Transfer Section 6418(f)(1)(A) of the Internal Revenue Code of 1986 is amended by adding at the end the following: (xii) The credit for maintaining and enhancing hydroelectric facilities under section 48F. . (c) Conforming amendments (1) Section 46 of the Internal Revenue Code of 1986 is amended— (A) in paragraph (6), by striking and at the end, (B) in paragraph (7), by striking the period at the end and inserting , and , and (C) by adding at the end the following: (8) the credit for maintaining and enhancing hydroelectric facilities. . (2) Section 49(a)(1)(C) of such Code is amended— (A) in clause (vii), by striking and at the end, (B) in clause (viii), by striking the period at the end and inserting , and , and (C) by adding at the end the following: (ix) the basis of any hydropower improvement property under section 48F. . (3) Section 50 of such Code is amended— (A) in subsection (a)(2)(E), as amended by section 13702(b) of Public Law 117–169 , by striking or 48E(e) and inserting 48E(e), or 48F(b) , and (B) in subsection (d)(2)— (i) in the matter preceding subparagraph (A), by inserting or any hydropower improvement property (as defined in section 48F(c)) after any energy storage technology (as defined in section 48(c)(6)) , and (ii) in subparagraph (B), by striking energy storage technology each place it appears and inserting energy storage technology or hydropower improvement property . (4) 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 48E the following new item: Sec. 48F. Credit for maintaining and enhancing hydroelectric facilities. . (d) Effective date The amendments made by this section shall apply to property placed in