H.R. 924
Incentivizing Offshore Wind Power Act
Referred to the House Committee on Ways and Means.
Sponsor
Rep. Pascrell, Bill, Jr. [D-NJ-9]
Bill Details
- Update Date
- Sep 27, 2021
- Origin Chamber
- House
- Bill Type
- HR
- Bill Number
- 924
- Congress
- 113
- Introduced Date
- Feb 28, 2013
- Policy Area
- Taxation
- Is Law
- No
Referred to the House Committee on Ways and Means.
Source: House floor actions
Introduced in House
Source: Library of Congress
Introduced in House
Source: Library of Congress
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 periodically and authorizes the Secretary 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 will not meet the required timeline.
Ways and Means Committee
Introduced in House
Feb 28, 2013