[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 3169 Introduced in Senate (IS)]

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114th CONGRESS
  2d Session
                                S. 3169

To support basic energy research and eliminate the wind production tax 
                                credit.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 12, 2016

 Mr. Alexander introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To support basic energy research and eliminate the wind production tax 
                                credit.

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

SECTION 1. FINDINGS.

    Congress finds that--
            (1) wind energy is a mature technology;
            (2) the wind production tax credit has been in effect for 
        24 years and has been extended 10 times;
            (3) wind subsidies can distort the electricity market and 
        make other sources of electric power less cost competitive;
            (4) between 2008 and 2014, the wind production tax credit 
        cost taxpayers $7,300,000,000;
            (5) for wind turbine construction started in 2017, 2018, 
        and 2019, the wind production tax credit would cost taxpayers 
        $8,100,000,000 over 10 years; and
            (6) doubling the amount of funds available for basic energy 
        research activities would--
                    (A) increase innovation in energy technologies; and
                    (B) produce clean, reliable, and affordable energy.

SEC. 2. INCREASED FUNDING AUTHORIZATION FOR THE OFFICE OF SCIENCE OF 
              THE DEPARTMENT OF ENERGY.

    Section 971(b) of the Energy Policy Act of 2005 (42 U.S.C. 
16311(b)) is amended--
            (1) in paragraph (6), by striking ``and'' at the end;
            (2) in paragraph (7), by striking the period at the end and 
        inserting a semicolon; and
            (3) by adding at the end the following:
            ``(8) $8,524,000,000 for fiscal year 2017;
            ``(9) $8,936,000,000 for fiscal year 2018; and
            ``(10) $9,377,000,000 for fiscal year 2019.''.

SEC. 3. TERMINATION OF CREDIT FOR ELECTRICITY PRODUCED FROM WIND.

    (a) In General.--Paragraph (1) of section 45(d) of the Internal 
Revenue Code of 1986 is amended by striking ``2020'' and inserting 
``2017''.
    (b) Conforming Amendments.--
            (1) Subsection (b) of section 45 of the Internal Revenue 
        Code of 1986 is amended by striking paragraph (5).
            (2) Clause (ii) of section 48(a)(5)(C) of such Code is 
        amended by striking ``(January 1, 2020, in the case of any 
        facility which is described in paragraph (1) of section 
        45(d))''.
            (3) Paragraph (5) of section 48(a) of such Code is amended 
        by striking subparagraph (E).
    (c) Effective Date.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendments made by this section shall apply to electricity 
        produced and sold in taxable years beginning after the date of 
        the enactment of this Act.
            (2) Treatment as energy property.--The amendments made by 
        paragraphs (2) and (3) of subsection (b) shall apply to 
        property placed in service in taxable years beginning after the 
        date of the enactment of this Act.
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