US Congress Senate Bill 1397 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 11-2)
Status: Introduced on July 21 2011 - 25% progression, died in committee
Action: 2011-07-21 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

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.

Incentivizing Offshore Wind Power Act

Sen. Thomas Carper [D-DE]	Sen. Sherrod Brown [D-OH]	Sen. Benjamin Cardin [D-MD]	Sen. Susan Collins [R-ME]
Sen. Christopher Coons [D-DE]	Sen. Kirsten Gillibrand [D-NY]	Sen. John Kerry [D-MA]	Sen. Frank Lautenberg [D-NJ]
Sen. Robert Menendez [D-NJ]	Sen. Barbara Mikulski [D-MD]	Sen. Jack Reed [D-RI]	Sen. Olympia Snowe [R-ME]
Sen. Sheldon Whitehouse [D-RI]

Date	Chamber	Action
2011-07-21	Senate	Read twice and referred to the Committee on Finance.

HB3238 (Related) 2011-10-18 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/1397/all-info
Text	https://www.congress.gov/112/bills/s1397/BILLS-112s1397is.pdf