S. 401: Incentivizing Offshore Wind Power Act

Introduced:
Feb 28, 2013 (113th Congress, 2013–2015)
Sponsor:
Sen. Thomas Carper [D-DE]
Status:
Referred to Committee

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was assigned to a congressional committee on February 28, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Feb 28, 2013
Referred to Committee Feb 28, 2013
Reported by Committee ...
Passed Senate ...
Passed House ...
Signed by the President ...
Prognosis

1% chance of getting past committee.
0% chance of being enacted.

Only 12% of Senate bills made it past committee and only 2% were enacted in 2011–2013. [show factors | methodology]

Cosponsors
13 cosponsors (11D, 1I, 1R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

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.

Summary

No summaries available.

Text

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Last updated Feb 28, 2013.
8 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

2/28/2013--Introduced.
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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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