S. 1397 · 112th Congress
Incentivizing Offshore Wind Power Act
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CarperSponsor12 cosponsors · 10 D, 2 R
D
Brown
BC
D
Cardin
SC
R
Collins
CC
D
Coons
FL
D
Lautenberg
BM
D
Menendez
JR
D
Reed
OS
R
Snowe
SW
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Whitehouse
BM
D
Mikulski
JK
D
Kerry
KG
D
Gillibrand9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Incentivizing Offshore Wind Power Act - Amends the Internal Revenue Code to: (1) allow a 30% tax credit for investment in a qualifying offshore wind facility (an offshore facility using wind to produce electricity), and (2) direct the Secretary of the Treasury to establish a qualifying credit for offshore wind facilities program to consider and award…
What it does: CRS summary · Introduced in Senate · Jul 21, 2011
Incentivizing Offshore Wind Power Act - Amends the Internal Revenue Code to: (1) allow a 30% tax credit for investment in a qualifying offshore wind facility (an offshore facility using wind to produce electricity), and (2) direct the Secretary of the Treasury to establish a qualifying credit for offshore wind facilities program to consider and award certifications for investments eligible for such a credit to qualifying offshore wind facility sponsors.
Requires the Secretary to review credits allocated under this Act periodically and authorizes the Secretary to make additional allocations and reallocations of such credits upon determining that: (1) the limit on the total amount of megawatt capacity for offshore facilities with respect to which credits may be allocated under the program has not been attained, or (2) scheduled placed-in-service dates of previously certified facilities have been significantly delayed and the applicant will not meet the required timeline.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Incentivizing Offshore Wind Power Act
Latest action (Jul 21, 2011): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jul 21, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.