Incentivizing Offshore Wind Power Act
Latest action · Jul 31, 2017 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 31, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Incentivizing Offshore Wind Power Act
This bill 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 Department 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.
The total amount of megawatt capacity for offshore facilities with respect to which credits may be allocated under the program may not exceed 3,000 megawatts.
The bill requires Treasury to review credits allocated under this bill periodically and authorizes Treasury to make additional allocations and reallocations of such credits upon determining that: (1) the limit on the total amount of megawatt capacity for offshore facilities with respect to which credits may be allocated under the program has not been attained, or (2) scheduled placed-in-service dates of previously certified facilities have been significantly delayed and the applicant for certification will not meet the required timeline.Cosponsors 12
Members who signed on, in the order they did. Signatures ran from Jul 31, 2017 to Sep 28, 2017; 11 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| I-ME | Angus S. King Jr. | Original | Jul 31, 2017 |
| D-MD | Benjamin L. Cardin | Original | Jul 31, 2017 |
| D-HI | Brian Schatz | Original | Jul 31, 2017 |
| D-DE | Christopher A. Coons | Original | Jul 31, 2017 |
| D-MA | Edward J. Markey | Original | Jul 31, 2017 |
| D-MA | Elizabeth Warren | Original | Jul 31, 2017 |
| D-RI | Jack Reed | Original | Jul 31, 2017 |
| D-NJ | Robert Menendez | Original | Jul 31, 2017 |
| D-RI | Sheldon Whitehouse | Original | Jul 31, 2017 |
| D-OH | Sherrod Brown | Original | Jul 31, 2017 |
| R-ME | Susan M. Collins | Original | Jul 31, 2017 |
| D-NM | Martin Heinrich | Sep 28, 2017 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Jul 31, 2017 |
Actions 2
Everything that happened, newest first.
- Jul 31, 2017Introduced in Senate
- Jul 31, 2017Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1736 | Incentivizing Offshore Wind Power Act | Reintroduction of | Jul 9, 2015 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to provide for an investment tax credit related to the production of electricity from offshore wind.
- Short Titles as Introduced
- Incentivizing Offshore Wind Power Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jul 31, 2017Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
