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 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