[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 1741 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                S. 1741

To amend the Internal Revenue Code of 1986 to provide an investment tax 
 credit for community wind projects having generation capacity of not 
            more than 20 megawatts, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                            October 20, 2011

Mr. Franken (for himself and Mr. Tester) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide an investment tax 
 credit for community wind projects having generation capacity of not 
            more than 20 megawatts, and for other purposes.

    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 ``Community Wind Act''.

SEC. 2. INVESTMENT TAX CREDIT FOR COMMUNITY WIND PROJECTS HAVING 
              GENERATION CAPACITY OF NOT MORE THAN 20 MEGAWATTS.

    (a) In General.--Paragraph (4) of section 48(c) of the Internal 
Revenue Code of 1986 is amended--
            (1) by striking subparagraph (A) and inserting the 
        following new subparagraph:
                    ``(A) In general.--The term `qualified small wind 
                energy property' means--
                            ``(i) property which uses a qualifying 
                        small wind turbine to generate electricity, or
                            ``(ii) property which uses 1 or more wind 
                        turbines with an aggregate nameplate capacity 
                        of more than 100 kilowatts but not more than 20 
                        megawatts.'', and
            (2) by redesignating subparagraph (C) as subparagraph (D) 
        and by inserting after subparagraph (B) the following new 
        subparagraph:
                    ``(C) Regulations.--The Secretary shall prescribe 
                such regulations as may be appropriate to prevent 
                improper division of property to attempt to meet the 
                limitation under subparagraph (A)(ii).''.
    (b) Denial of Production Credit.--Paragraph (1) of section 45(d) of 
the Internal Revenue Code of 1986 is amended by striking the period at 
the end and inserting ``or any facility which is a qualified small wind 
energy property described in section 48(c)(4)(A)(ii) with respect to 
which the credit under section 48 is allowable.''.
    (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.
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