3.0.0 1672 2023-01-11T13:37:01Z 2023-01-11T13:37:01Z Senate S 2017-07-31 115 ssfi00 Finance Committee Senate Standing Referred to 2017-07-31T20:26:51Z 2017-07-31 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-07-31 Introduced in Senate IntroReferral 10000 9 Library of Congress C000174 Sen. Carper, Thomas R. [D-DE] Thomas Carper D DE R. N C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. 2017-07-31 True B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2017-07-31 True C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2017-07-31 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2017-07-31 True C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2017-07-31 True K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. 2017-07-31 True S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2017-07-31 True M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2017-07-31 True M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2017-07-31 True W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2017-07-31 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2017-07-31 True H001046 Sen. Heinrich, Martin [D-NM] Martin Heinrich D NM T. 2017-09-28 False Taxation Alternative and renewable resources Business investment and capital Great Lakes Income tax credits Marine and coastal resources, fisheries Taxation 00 2017-07-31 Introduced in Senate 2017-08-14T14:39:53Z Incentivizing Offshore Wind Power Act

This bill 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 Department 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.

The total amount of megawatt capacity for offshore facilities with respect to which credits may be allocated under the program may not exceed 3,000 megawatts.

The bill requires Treasury to review credits allocated under this bill periodically and authorizes Treasury 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 for certification will not meet the required timeline.]]> Incentivizing Offshore Wind Power Act Display Title Incentivizing Offshore Wind Power Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide for an investment tax credit related to the production of electricity from offshore wind. Introduced in Senate IS Short Titles as Introduced Incentivizing Offshore Wind Power Act Introduced in Senate 2017-07-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s1672is/xml/BILLS-115s1672is.xml 2017-07-31 Read twice and referred to the Committee on Finance. 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.