3.0.0 1511 2023-01-11T16:47:38Z 2023-01-11T16:47:38Z Senate S S 2007-05-24 110 ssfi00 Finance Committee Senate Standing Referred to 2007-05-24T23:01:22Z Marine and Hydrokinetic Renewable Energy Promotion Act 110 2036 HR 2007-05-08 Referred to the Subcommittee on Energy and Environment. Related bill CRS 2007-05-24 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6873-6874) IntroReferral 2007-05-24 Sponsor introductory remarks on measure. (CR S6873) IntroReferral B00100 9 Library of Congress 2007-05-24 Introduced in Senate IntroReferral 10000 9 Library of Congress A000069 Sen. Akaka, Daniel K. [D-HI] DANIEL AKAKA D HI KOHIKINA N M001153 Sen. Murkowski, Lisa [R-AK] Lisa Murkowski R AK 2007-05-24 True S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. 2007-05-24 True Energy Alternative energy sources Congressional reporting requirements Depreciation and amortization Economics and Public Finance Electric power production Energy research Environmental Protection Environmental assessment Equipment and supplies Government lending Government trust funds Hydroelectric power Income tax Investment tax credit Marine and coastal resources, fisheries Ocean energy resources Research and development Science, Technology, Communications Tax credits Tax deductions Taxation Water Resources Development Energy 00 2007-05-24 Introduced in Senate 2007-07-05T21:31:25Z Marine and Hydrokinetic Renewable Energy Promotion Act of 2007- Directs the Secretary of Energy to establish: (1) a marine and hydrokinetic renewable energy research program; and (2) an Adaptive Management and Environmental Fund to lend funds to approved applicants to cover the costs of projects that produce marine and hydrokinetic renewable energy.

Instructs the Secretary of Commerce and the Secretary of the Interior to prepare jointly programmatic environmental impact statements regarding the impacts of the deployment of marine and hydrokinetic renewable energy technologies in U.S. navigable waters.

Amends the Internal Revenue Code to allow: (1) a tax credit for electricity produced from marine and hydrokinetic renewable energy; and (2) an investment credit and five-year depreciation for equipment which produces electricity from marine and hydrokinetic renewable energy.

Denies a tax credit for producing fuel from a nonconventional source (dual benefit) with respect to a marine and hydrokinetic facility for which an investment credit under this Act is claimed by the taxpayer.

]]> Marine and Hydrokinetic Renewable Energy Promotion Act of 2007 Display Title Marine and Hydrokinetic Renewable Energy Promotion Act of 2007 Official Title as Introduced A bill to promote the development and use of marine and hydrokinetic renewable energy technologies, and for other purposes. Introduced in Senate IS Short Titles as Introduced Marine and Hydrokinetic Renewable Energy Promotion Act of 2007 Introduced in Senate 2007-05-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1511is/xml/BILLS-110s1511is.xml 2007-05-24 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6873-6874) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.