Incentivizing Offshore Wind Power Act

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.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 18 October 2011

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• Introduced in House (PDF)

  Introduced in House · EN · 18 October 2011

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• Introduced in House

  summary · EN · 18 October 2011

  Open at official source

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