Internal Revenue Service Publication of Inflation
Adjustment Factor, Nonconventional Source Fuel
Credit, & Reference Price for Calendar Year

DEPARTMENT OF THE TREASURY
Internal Revenue Service

TITLE: Publication of Inflation Adjustment Factor, Nonconventional
Source Fuel Credit, and Reference Price for Calendar Year

AGENCY:Internal Revenue Service (IRS), Treasury.

ACTION:Publication of inflation adjustment factor, nonconventional
source fuel credit, and reference price for calendar year as
required by section 29 of the Internal Revenue Code (26 U.S.C.
section 29).

SUMMARY:The inflation adjustment factor, nonconventional source fuel
credit, and reference price are used in determining the tax credit
allowable on the production of fuel from nonconventional sources
under section 29.

DATE :The inflation adjustment factor, nonconventional source fuel
credit, and reference price apply to qualified fuels sold during
calendar year .

INFLATION FACTOR : The inflation factor is calculated using GNP
Implicit Price Deflators as computed and published by the Department
of Commerce. The inflation factor for 1999, which is smaller than
the factor published for 1998, reflects a comprehensive revision in
1999 of the national income and product accounts by the Department
of Commerce. The inflation factor for calendar year is

CREDIT:The nonconventional source fuel credit for calendar year is
per barrel-of-oil equivalent of qualified fuels..PRICE:The reference
price for calendar year is . Because this reference price does not
exceed $23.50 multiplied by the inflation adjustment factor, the
phaseout of credit provided for in section 29(b)(1) does not occur
for any qualified fuel sold in calendar year .

FOR FURTHER INFORMATION CONTACT:

For the inflation factor and credit -

Thomas Thompson, 
OP:RS:R:E, Internal Revenue Service 1111
Constitution Avenue, NW., Washington, DC 20224, 
Telephone Number (202) 874-0585 (not a toll-free number).

For the reference price -

Alan Cooper or David McMunn, 
CC:DOM:P&SI:6, Internal Revenue Service
1111 Constitution Avenue, NW., Washington, DC 20224,
Telephone Number (202) 622-3110 (not a toll-free number).

Judith C. Dunn
Associate Chief Counsel (Domestic)

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