[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6736 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6736

To amend the Internal Revenue Code of 1986 to provide a tax credit for 
             the installation of residential wind systems.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 31, 2008

 Mr. Hoekstra introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide a tax credit for 
             the installation of residential wind systems.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Generating Energy Using Small 
Turbines Act of 2008'' or the ``GUST Act''.

SEC. 2. CREDIT FOR RESIDENTIAL WIND PROPERTY.

    (a) In General.--Section 25D(a) of the Internal Revenue Code of 
1986 is amended by striking ``and'' at the end of paragraph (2), by 
striking the period at the end of paragraph (3) and inserting ``, 
and'', and by adding at the end the following new paragraph:
            ``(4) 30 percent of the qualified small wind energy 
        property expenditures made by the taxpayer during such year.''.
    (b) Limitation.--Section 25D(b)(1) of such Code is amended by 
striking ``and'' at the end of subparagraph (B), by striking the period 
at the end of subparagraph (C) and inserting ``, and'', and by adding 
at the end the following new subparagraph:
                    ``(D) $500 with respect to each half kilowatt of 
                capacity (not to exceed $4,000) of wind turbines for 
                which qualified small wind energy property expenditures 
                are made.''.
    (c) Qualified Small Wind Energy Property Expenditures.--
            (1) In general.--Section 25D(d) of such Code is amended by 
        adding at the end the following new paragraph:
            ``(4) Qualified small wind energy property expenditure.--
        The term `qualified small wind energy property expenditure' 
        means an expenditure for property which uses a wind turbine to 
        generate electricity for use in connection with a dwelling unit 
        located in the United States and used as a residence by the 
        taxpayer.''.
            (2) No double benefit.--Section 45(d)(1) of such Code is 
        amended by adding at the end the following new sentence: ``Such 
        term shall not include any facility with respect to which any 
        qualified small wind energy property expenditure (as defined in 
        subsection (d)(4) of section 25D) is taken into account in 
        determining the credit under such section.''.
            (3) Maximum expenditures in case of joint occupancy.--
        Section 25D(e)(4)(A) of such Code is amended by striking 
        ``and'' at the end of clause (ii), by striking the period at 
        the end of clause (iii) and inserting ``, and'', and by adding 
        at the end the following new clause:
                            ``(iv) $1,667 in the case of each half 
                        kilowatt of capacity (not to exceed $13,333) of 
                        wind turbines for which qualified small wind 
                        energy property expenditures are made.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2007.
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