US HB3238 | 2011-2012 | 112th Congress


Status

October 18 2011 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Tracking Information

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Title

Incentivizing Offshore Wind Power Act

Sponsors


History

DateChamberAction
2011-10-18HouseReferred to the House Committee on Ways and Means.

Same As/Similar To

SB1397 (Related) 2011-07-21 - Read twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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