[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3135 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 3135

   To amend the Internal Revenue Code of 1986 to provide additional 
       incentives for facilities producing electricity from wind.


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                    IN THE HOUSE OF REPRESENTATIVES

                              July 8, 2009

 Mr. Walz (for himself, Mr. Peterson, Mr. Oberstar, Mr. McIntyre, Mr. 
Perriello, Mr. Boswell, Ms. McCollum, and Mr. Rodriguez) 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 additional 
       incentives for facilities producing electricity from wind.

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

SECTION 1. EXEMPTION FROM PASSIVE ACTIVITY LIMITATIONS FOR QUALIFIED 
              WIND FACILITIES.

    (a) In General.--Section 469 of the Internal Revenue Code of 1986 
(relating to passive activity losses and credits limited) is amended by 
redesignating subsections (l) and (m) as subsections (m) and (n), 
respectively, and by inserting after subsection (k) the following new 
subsection:
    ``(l) Exception for Qualified Wind Facilities.--
            ``(1) In general.--In the case of any natural person, 
        subsection (a) shall not apply to that portion of the passive 
        activity loss or the deduction equivalent (within the meaning 
        of subsection (j)(5)) of the passive activity credit for any 
        taxable year which is attributable to any interest of such 
        person in a facility described in section 45(d)(1) (relating to 
        wind facility).
            ``(2) Special rule for estates.--In the case of taxable 
        years of an estate ending less than 2 years after the date of 
        the death of the decedent, this subsection shall apply to any 
        interest in a facility described in section 45(d)(1) (relating 
        to wind facility) held by the decedent on the date of his 
        death.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to losses and credits taken into account in taxable years 
beginning after the date of the enactment of this Act.

SEC. 2. CREDIT FOR ELECTRICITY PRODUCED FROM QUALIFIED WIND FACILITIES 
              ALLOWED AGAINST ALTERNATIVE MINIMUM TAX.

    (a) In General.--Subparagraph (B) of section 38(c)(4) of the 
Internal Revenue Code of 1986 (relating to specified credits) is 
amended--
            (1) by striking ``and'' at the end of clause (vii),
            (2) by inserting ``(other than a facility described in 
        clause (ix))'' after ``facility'' in clause (iii)(I),
            (3) by striking the period at the end of clause (viii) and 
        inserting ``, and'', and
            (4) by adding at the end the following new clause:
                            ``(ix) the credit determined under section 
                        45 to the extent that such credit is 
                        attributable to electricity produced at a 
                        facility described in section 45(d)(1) 
                        (relating to wind facility).''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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