the potential energy of flowing water, (ii) will utilize a generating technology that is not in widespread, utility scale use in the United States as of the date of enactment of this section, (iii) will not be, based on information available to the Commission, likely to jeopardize the continued existence of any species listed as a threatened species or an endangered species under the Endangered Species Act of 1973, and (iv) will not be, based on information available to the Commission, likely to result in the destruction or adverse modification of an area designated as critical habitat for any species listed as a threatened species or an endangered species under such Act, and (B) any interconnection property associated with a project described in subparagraph (A). (7) Qualified dam The term qualified dam means a hydroelectric dam that is licensed by the Commission or legally operating without such a license before the date of enactment of this section. . (b) Elective payment and transfer of credit (1) Elective payment Section 6417 of the Internal Revenue Code of 1986 is amended— (A) in subsection (b), by adding at the end the following: (13) The credit for maintaining and enhancing hydroelectric facilities under section 48F. , and (B) in subsection (d)(1)— (i) in subparagraph (E), by striking (C), or (D) each place it appears and inserting (C), (D), or (E) , (ii) by redesignating subparagraph (E) (as amended by clause (i)) as subparagraph (F), and (iii) by inserting after subparagraph (D) the following: (E) Election with respect to credit for maintaining and enhancing hydroelectric facilities If a taxpayer other than an entity described in subparagraph (A) makes an election under this subparagraph with respect to any taxable year in which such taxpayer has, after 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