§ 32.4320   Unamortized operating investment tax credits—net.

   (a) This account shall be credited and Account 7210, Operating
   Investment Tax Credits—Net, should be debited 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 debited and Account 7210 credited with a
   proportionate amount determined in relation to the period of time used
   for computing book depreciation on the property to which the tax credit
   relates.

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