I 111th CONGRESS 2d Session H. R. 5521 IN THE HOUSE OF REPRESENTATIVES June 14, 2010 Mr. Castle (for himself, Mrs. Dahlkemper, and Mr. Ehlers) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To extend credits related to the production of electricity from offshore wind, and for other purposes.

1.

Extension of credits related to the production of electricity from offshore wind

(a)

Extension for production credit

(1)

In general

Paragraph (1) of section 45(d) of the Internal Revenue Code of 1986 is amended by inserting (January 1, 2020, in the case of any offshore facility) after and before January 1, 2013. (2)

Offshore facility

Section 45(e) of such Code is amended by adding at the end the following new paragraph: (12)

Offshore facility

The term offshore facility means any facility located in the inland navigable waters of the United States, including the Great Lakes, or in the coastal waters of the United States, including the territorial seas of the United States, the exclusive economic zone of United States, and the outer Continental Shelf of the United States. . (b)

Extension for investment credit

Clause (i) of section 48(a)(5)(C) of the Internal Revenue Code of 1986 is amended— (1)by striking is placed in service in and inserting is—(I)except as provided in subclause (II), placed in service in , (2)by striking the period at the end and inserting , and, and (3)by adding at the end the following new subclause: (II)in the case of an offshore facility (as defined in section 45(e)(12)), such facility is placed in service after 2008 and before 2020. . (c)

Effective date

The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.