...utility property (as defined in paragraph (5)) of the taxpayer— (A) Cost of service reduction If the taxpayer's cost of service for ratemaking purposes...a.ccount is reduced by more than a ratable portion of the credit determined under subsection (a) and allowable by section 38 (determined without regard to...

...If an election was made under section 46(f)(2) on or before March 9. 1972, section 46(f)(2) applies to all of the taxpayer's section 46(f) property except...property. If a taxpayer made an election under section 48(f)(3) on or before March 9, 1972, section 46(f) (1) and (2) do not apply to the taxpayer's section...

...was made mulet section 46(f)(2) on or before March 9, 1972, section 46(f)(2) applies to all of Ше taxpayer's section 46(f) property except property...taxpayer's rate base is reduced by reason of any portion of suck credit. (e) Flow-through property. If a taxpayer made an election under section 46(f)(3) on or...

...property except property to which an election under section 46(fX3) applies. Under section 46(fX2), the credit for the taxpayer's section 46(f) property...property. If a taxpayer made an election under section 46(fX3) on or before March 9, 1972, section 46(f) (1) and (2) do not apply to the taxpayer's section...

...election under section 46(0(3) applies. Under section 46(0(2), the credit for the taxpayer's section 46(0 property will be disallowed if— (1) The taxpayer's...property. If a taxpayer made an election under section 46(0(3) on or before March 9, 1972, section 46(0 (1) and (2) do not apply to the taxpayer's section...

...Under section 46<f)(2), the credit for the taxpayer's section 46(f) property will be disallowed if(1) The taxpayer's cost of service, for ratemaking purposes...property. If a taxpayer made an election under section 46(fX3) on or before March 9, 1972, section 46(f) (1) and (2) do not apply to the taxpayer's section...

...ratemaking purposes or (ii) In the case of a taxpayer that made an election under section 46(f)(2), on the taxpayer's cost of service, for ratemaking purposes or in its regulated books of account, or on the taxpayer's rate base for ratemaking purposes. A regulatory body does not have to take affirmative...

...ratemaking purposes or (ii) In the case of a taxpayer that made an election under section 46(f)(2), on the taxpayer's cost of service, for ratemaking purposes or in its regulated books of account, or on the taxpayer's rate base for ratemaking purposes. A regulatory body does not have to take affirmative...

...apply, but no credit shall be allowed by section 38 with respect to any public utility property if the taxpayer's cost of service for ratemaking purposes...account is reduced by more than a ratable portion of the credit allowable by section 38, or if the base to which the taxpayer's rate of return for ratemaking...

...without regard to the provisions of subparagraph (B) of subsection (a) (2) if — "(A) the taxpayers cost of service for ratemaking purposes or in its regulated books of account is reduced by reason of any portion of such credit which results from the transfer of employer securities or cash...