§ 32.7210   Operating investment tax credits—net.

   (a) This account shall be charged and Account 4320, Unamortized
   Operating Investment Tax Credits—Net, shall be credited with investment
   tax credits generated from qualified expenditures related to regulated
   operations which the company defers rather than recognizes currently in
   income.

   (b) This account shall be credited and Account 4320 shall be charged
   ratably with the amortization of each year's investment tax credits
   included in Account 4320 for investment services for ratemaking
   purposes. Such amortization shall be determined in relation to the
   period of time used for computing book depreciation on the property
   with respect to which the tax credits relate.

   [ 51 FR 43499 , Dec. 2, 1986, as amended at  67 FR 5698 , Feb. 6, 2002]

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