[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4887 Introduced in House (IH)]
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116th CONGRESS
1st Session
H. R. 4887
To amend the Internal Revenue Code of 1986 to extend the energy credit
for offshore wind facilities.
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IN THE HOUSE OF REPRESENTATIVES
October 28, 2019
Mr. Pascrell (for himself and Mr. King of New York) 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 extend the energy credit
for offshore wind facilities.
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 ``Incentivizing Offshore Wind Power
Act''.
SEC. 2. EXTENSION OF ENERGY CREDIT FOR OFFSHORE WIND FACILITIES.
(a) In General.--Section 48(a)(5) of the Internal Revenue Code of
1986 is amended by adding at the end the following:
``(F) Qualified offshore wind facilities.--
``(i) In general.--In the case of any
qualified offshore wind facility--
``(I) subparagraph (C)(ii) shall be
applied by substituting `January 1 of
the applicable year (as determined
under subparagraph (F)(ii))' for
`January 1, 2020',
``(II) subparagraph (E) shall not
apply, and
``(III) for purposes of this
paragraph, section 45(d)(1) shall be
applied by substituting `January 1 of
the applicable year (as determined
under section 48(a)(5)(F)(ii))' for
`January 1, 2020'.
``(ii) Applicable year.--For purposes of
this subparagraph, the term `applicable year'
means the later of--
``(I) calendar year 2027, or
``(II) the calendar year subsequent
to the first calendar year in which the
Secretary, in consultation with the
Secretary of Energy, determines that
the United States has increased its
offshore wind capacity by not less than
3,000 megawatts as compared to such
capacity on January 1, 2020.
For purposes of subclause (II), the Secretary
shall not include any increase in offshore wind
capacity which is attributable to any facility
the construction of which began before January
1, 2020.
``(iii) Qualified offshore wind facility.--
For purposes of this subparagraph, the term
`qualified offshore wind facility' means a
qualified facility described in paragraph (1)
of section 45(d) which is 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 the United States,
and the outer Continental Shelf of the United
States.
``(iv) Report on offshore wind capacity.--
On January 15, 2026, and annually thereafter
until the calendar year described in clause
(ii)(II), the Secretary, in consultation with
the Secretary of Energy, shall issue a report
to be made available to the public which
discloses the increase in the offshore wind
capacity of the United States, as measured in
total megawatts, since January 1, 2020.''.
(b) Effective Date.--The amendment made by this section shall apply
to periods after December 31, 2016, under rules similar to the rules of
section 48(m) of the Internal Revenue Code of 1986 (as in effect on the
day before the date of the enactment of the Revenue Reconciliation Act
of 1990).
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