S.1102 - Offshore WIND Act115th Congress (2017-2018)
|Sponsor:||Sen. Markey, Edward J. [D-MA] (Introduced 05/11/2017)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 05/11/2017 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.1102 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (05/11/2017)
Offshore Wind Incentives for New Development Act or the Offshore WIND Act
This bill amends the Internal Revenue Code to expand the tax credit for investment in energy property to include a qualified offshore wind property with construction that begins before January 1, 2026.
A "qualified offshore wind property" is a facility that: (1) uses wind to produce electricity; and (2) is 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 the United States, and the outer Continental Shelf of the United States. The term excludes certain small wind energy property that uses a small wind turbine to generate electricity.