U.S. Congress - H.R.3238 Incentivizing Offshore Wind Power Act
H.R.3238 - Incentivizing Offshore Wind Power Act
To amend the Internal Revenue Code of 1986 to provide for an investment tax credit related to the production of electricity from offshore wind. view all titles (2)
All Bill Titles
- Short: Incentivizing Offshore Wind Power Act as introduced.
- Official: To amend the Internal Revenue Code of 1986 to provide for an investment tax credit related to the production of electricity from offshore wind. as introduced.
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Official Summary
10/18/2011--Introduced.Incentivizing Offshore Wind Power Act - Amends the Internal Revenue Code to: (1) allow a 30% tax credit for investment in a qualifying offshore wind facility (an offshore facility using wind to produce electricity), and (2) direct the Secretary of the Treasury to estOfficial Summary
10/18/2011--Introduced.Incentivizing Offshore Wind Power Act - Amends the Internal Revenue Code to:(1) allow a 30% tax credit for investment in a qualifying offshore wind facility (an offshore facility using wind to produce electricity), and
(2) direct the Secretary of the Treasury to establish a qualifying credit for offshore wind facilities program to consider and award certifications for investments eligible for such a credit to qualifying offshore wind facility sponsors. Requires the Secretary to review credits allocated under this Act and authorizes the Secretary to reallocate such credits upon determining that:
(1) there is an insufficient quantity of qualifying applications for certification pending at the time of the review, or
(2) scheduled placed-in-service dates of previously certified facilities have been significantly delayed and the applicant will not meet the required timeline.
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Recent News Coverage
Reps. Pascrell and LoBiondo Introduce Legislation to Encourage Wind Power ...
The Incentivizing Offshore Wind Power Act (HR 3238) will create an investment tax credit for the first 3000 MW offshore wind facilities placed into service. Senators Carper and Snowe have introduced companion legislation, S.1397, in the US Senate.
Nixon Peabody | Bills propose extension of ITC for offshore wind projects
HR 3238 is the companion bill to S. 1397 which was introduced on July 21, 2011 by Senators Tom Carper (D-DE) and Olympia Snowe (R-ME). The bills, both titled the “Incentivizing Offshore Wind Power Act”, propose an extension of the investment tax credi
Recent Blog Coverage
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Members from 111th Congress Swing Through Revolving Door ...
Energy/Nuclear: Policies affecting wind energy and renewable energy; Proposals to extend tax credits related to the production of electricity from offshore wind; S. 1397, Incentivizing Offshore Wind Power Act; H.R. 3238, ...
Members from 111th Congress Swing Through Revolving Door ...
Energy/Nuclear: Policies affecting wind energy and renewable energy; Proposals to extend tax credits related to the production of electricity from offshore wind; S. 1397, Incentivizing Offshore Wind Power Act; H.R. 3238, ...
Members from 111th Congress Swing Through Revolving Door ...
Energy/Nuclear: Policies affecting wind energy and renewable energy; Proposals to extend tax credits related to the production of electricity from offshore wind; S. 1397, Incentivizing Offshore Wind Power Act; H.R. 3238, ...
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