To extend credits related to the production of electricity from offshore wind, and for other purposes.

Amends the Internal Revenue Code to allow tax credits through 2019 for investment in an offshore facility using wind to produce electricity. Defines "offshore facility" to mean any facility 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, exclusive economic zone, and the outer Continental Shelf of the United States.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5521 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5521

    To extend credits related to the production of electricity from 
                 offshore wind, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 14, 2010

 Mr. Castle (for himself, Mrs. Dahlkemper, and Mr. Ehlers) introduced 
  the following bill; which was referred to the Committee on Ways and 
                                 Means

_______________________________________________________________________

                                 A BILL


 
    To extend credits related to the production of electricity from 
                 offshore wind, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION OF CREDITS RELATED TO THE PRODUCTION OF 
              ELECTRICITY FROM OFFSHORE WIND.

    (a) Extension for Production Credit.--
            (1) In general.--Paragraph (1) of section 45(d) of the 
        Internal Revenue Code of 1986 is amended by inserting 
        ``(January 1, 2020, in the case of any offshore facility)'' 
        after ``and before January 1, 2013''.
            (2) Offshore facility.--Section 45(e) of such Code is 
        amended by adding at the end the following new paragraph:
            ``(12) Offshore facility.--The term `offshore facility' 
        means any facility 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 United 
        States, and the outer Continental Shelf of the United 
        States.''.
    (b) Extension for Investment Credit.--Clause (i) of section 
48(a)(5)(C) of the Internal Revenue Code of 1986 is amended--
            (1) by striking ``is placed in service in'' and inserting 
        ``is--
                                    ``(I) except as provided in 
                                subclause (II), placed in service in'',
            (2) by striking the period at the end and inserting ``, 
        and'', and
            (3) by adding at the end the following new subclause:
                                    ``(II) in the case of an offshore 
                                facility (as defined in section 
                                45(e)(12)), such facility is placed in 
                                service after 2008 and before 2020.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service after the date of the enactment of 
this Act.
                                 <all>