[Congressional Record Volume 166, Number 42 (Tuesday, March 3, 2020)]
[Senate]
[Page S1424]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1446. Mr. CARPER (for himself, Ms. Collins, Mr. Menendez, Mr. 
Whitehouse, Mr. Reed, Ms. Warren, Mr. Heinrich, Mr. Markey, Mr. Cardin, 
and Mr. Brown) submitted an amendment intended to be proposed to 
amendment SA 1407 submitted by Ms. Murkowski and intended to be 
proposed to the bill S. 2657, to support innovation in advanced 
geothermal research and development, and for other purposes; which was 
ordered to lie on the table; as follows:

        At the end, add the following:

       TITLE IV--AMENDMENTS TO THE INTERNAL REVENUE CODE OF 1986

     SEC. 4001. 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, 2021',
       ``(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, 2021'.

       ``(ii) Applicable year.--

       ``(I) In general.--For purposes of this subparagraph, the 
     term `applicable year' means the later of--

       ``(aa) calendar year 2027, or
       ``(bb) 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, 2021.

       ``(II) Exclusion of certain facilities.--For purposes of 
     subclause (I)(bb), 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, 2021.

       ``(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)(I)(bb), 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, 2021.''.
       (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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