Marine and Hydrokinetic Renewable Energy Promotion Act of 2007

Summary

Marine and Hydrokinetic Renewable Energy Promotion Act of 2007- Directs the Secretary of Energy to establish: (1) a marine and hydrokinetic renewable energy research program; and (2) an Adaptive Management and Environmental Fund to lend funds to approved applicants to cover the costs of projects that produce marine and hydrokinetic renewable energy. Instructs the Secretary of Commerce and the Secretary of the Interior to prepare jointly programmatic environmental impact statements regarding the impacts of the deployment of marine and hydrokinetic renewable energy technologies in U.S. navigable waters. Amends the Internal Revenue Code to allow: (1) a tax credit for electricity produced from marine and hydrokinetic renewable energy; and (2) an investment credit and five-year depreciation for equipment which produces electricity from marine and hydrokinetic renewable energy. Denies a tax credit for producing fuel from a nonconventional source (dual benefit) with respect to a marine and hydrokinetic facility for which an investment credit under this Act is claimed by the taxpayer.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 24 May 2007

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6873-6874)

   Source: IntroReferral

2. 24 May 2007

   Introduced

   Sponsor introductory remarks on measure. (CR S6873)

   Source: IntroReferral

3. 24 May 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 24 May 2007 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 24 May 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 24 May 2007

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 24 May 2007

  Open at official source

Sponsors

• Rep. Akaka, Daniel K. [D-HI-2] · D · Sponsor
• Lisa Murkowski · R · Sponsor
• Rep. Snowe, Olympia J. [R-ME-2] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → Marine and Hydrokinetic Renewable Energy Promotion Act