H.R.2036 - Marine and Hydrokinetic Renewable Energy Promotion Act110th Congress (2007-2008)
|Sponsor:||Rep. Inslee, Jay [D-WA-1] (Introduced 04/25/2007)|
|Committees:||House - Energy and Commerce; Natural Resources; Science and Technology; Ways and Means|
|Latest Action:||05/08/2007 Referred to the Subcommittee on Energy and Environment.|
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Summary: H.R.2036 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (04/25/2007)
Marine and Hydrokinetic Renewable Energy Promotion Act - 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.