Section 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