§ 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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