which is the sum, for the taxable year and all prior taxable years, of— (i) grants provided by the United States, a State, or a political subdivision of a State for use in connection with the project, (ii) proceeds of an issue of State or local government obligations used to provide financing for the project the interest on which is exempt from tax under section 103, (iii) the aggregate amount of subsidized energy financing provided (directly or indirectly) under a Federal, State, or local program provided in connection with the project, and (iv) the amount of any other credit allowable with respect to any property which is part of the project, and (B) the denominator of which is the aggregate amount of additions to the capital account for the project for the taxable year and all prior taxable years. The amounts under the preceding sentence for any taxable year shall be determined as of the close of the taxable year. This paragraph shall not apply with respect to any facility described in subsection (d)(2)(A)(ii). . (i) Rounding adjustment (1) In general Section 45(b)(2) is amended to read as follows: (2) Credit and phaseout adjustment based on inflation The 1.5 cent amount in subsection (a), the 8 cent amount in paragraph (1), the $4.375 amount in subsection (e)(8)(A), the $2 amount in subsection (e)(8)(D)(ii)(I), and in subsection (e)(8)(B)(i) the reference price of fuel used as a feedstock (within the meaning of subsection (c)(7)(A)) in 2002 shall each be adjusted by multiplying such amount by the inflation adjustment factor for the calendar year in which the sale occurs. If any amount as increased under the preceding sentence is not a multiple of 0.1 cent, such amount shall be rounded to the nearest multiple of 0.1 cent. . (2) Conforming amendment Section 45(b)(4)(A) is amended by striking last two sentences and inserting last sentence . (j) Hydropower (1) Credit rate reduction for qualified hydroelectric production and marine and hydrokinetic renewable energy Section 45(b)(4)(A) is amended by striking or