,,ii  #aac? ,,congress  #a/ ,session    
,s4 #dja  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #bh1 #bjac    
,mr4 ,c>p] 7= himself1 ,ms4 ,coll9s1    
,mr4 ,coons1 ,mr4 ,laut5b]g1 ,mr4       
,:iteh\se1 ,mr4 ,br[n1 ,mr4 ,re$1 ,mr4  
,k+1 ,mrs4 ,gillibr&1 ,mr4 ,m55dez1 ,mr4
 ,c[an1 ,mr4 ,c>d91 & ,ms4 ,w>r57       
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to provide = an   
inve/m5t tax cr$it relat$ to !          
production ( electricity f (f%ore w9d4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,inc5tiviz+ ,(f%ore ,w9d ,p[] ,act4   
#b4 ,qualify+ (f%ore w9d facility cr$it 
7a7 ,9 g5]al ,section #df ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$--  7#a7  
by /rik+ & at ! end ( p>agraph 7#e71    
7#b7 by /rik+ ! p]iod at ! end (        
p>agraph 7#f7 & ins]t+ 1 &1 &  7#c7 by  
add+ at ! end ! foll[+ new p>agraph3    
7#g7 ! qualify+ (f%ore w9d facility     
cr$it4  4  7b7 ,am\nt ( cr$it ,subp>t ,e

 ( "p ,,iv ( sub*apt] ,a ( *apt] #a is  
am5d$ by ins]t+ aft] section #dh;,d !   
foll[+ new section3  #dh;,e4 ,cr$it =   
(f%ore w9d facilities  7a7 ,9 g5]al ,=  
purposes ( section #df1 ! qualify+      
(f%ore w9d facility cr$it = any taxable 
ye> is an am\nt equal to #cj p]c5t ( !  
qualifi$ inve/m5t = su* taxable ye> )   
respect to any qualify+ (f%ore w9d      
facility ( ! taxpay]4  7b7 ,qualifi$    
inve/m5t  7#a7 ,9 g5]al ,= purposes (   
subsection 7a71 ! qualifi$ inve/m5t =   
any taxable ye> is ! basis ( eligible   
prop]ty plac$ 9 s]vice by ! taxpay] dur+
 su* taxable ye> :i* is "p ( a qualify+ 
(f%ore w9d facility4  7#b7 ,c]ta9       
qualifi$ progress exp5ditures rules made
 applicable ,rules simil> to ! rules (  
subsections 7c77#d7 & 7d7 ( section #df 
7z 9 effect on ! day be=e ! enactm5t ( !
 ,rev5ue ,reconciliation ,act ( #aiij7  
%all apply = purposes ( ?is section4    
7c7 ,def9itions ,= purposes ( ?is       
section--  7#a7 ,qualify+ (f%ore w9d    
facility  7,a7 ,9 g5]al ,! t]m qualify+ 

(f%ore w9d facility means an (f%ore     
facility us+ w9d to produce electricity4
  7,b7 ,(f%ore facility ,! t]m (f%ore   
facility means any facility locat$ 9 !  
inl& navigable wat]s ( ! ,unit$ ,/ates1 
includ+ ! ,great ,lakes1 or 9 ! coa/al  
wat]s ( ! ,unit$ ,/ates1 includ+ !      
t]ritorial seas ( ! ,unit$ ,/ates1 !    
exclusive economic zone ( ,unit$ ,/ates1
 & ! out] ,cont95tal ,%elf ( ! ,unit$   
,/ates4  7#b7 ,eligible prop]ty ,! t]m  
eligible prop]ty means any prop]ty--    
7,a7 :i* is--  7i7 tangible p]sonal     
prop]ty1 or  7ii7 o!r tangible prop]ty  
7n includ+ a build+ or its /ructural    
compon5ts71 b only if su* prop]ty is us$
 z an integral "p ( ! qualify+ (f%ore   
w9d facility1 &  7,b7 ) respect to :i*  
depreciation 7or amortization 9 lieu (  
depreciation7 is all[able4  7d7         
,qualify+ cr$it = (f%ore w9d facilities 
program  7#a7 ,e/abli%m5t  7,a7 ,9 g5]al
 ,n lat] ?an #ahj days aft] ! date ( !  
enactm5t ( ?is section1 ! ,secret>y1 9  
consultation ) ! ,secret>y ( ,en]gy & ! 

,secret>y ( ! ,int]ior1 %all e/abli% a  
qualify+ cr$it = (f%ore w9d facilities  
program to consid] & aw>d c]tifications 
= qualifi$ inve/m5ts eligible = cr$its  
"u ?is section to qualify+ (f%ore w9d   
facility sponsors4  7,b7 ,limitation ,! 
total am\nt ( megawatt capacity = (f%ore
 facilities ) respect to :i* cr$its may 
be allocat$ "u ! program %all n exce$   
#c1jjj megawatts4  7#b7 ,c]tification   
7,a7 ,application p]iod ,ea* applicant =
 c]tification "u ?is p>agraph %all      
submit an application conta9+ su*       
in=mation z ! ,secret>y may require     
beg9n+ on ! date ! ,secret>y e/abli%es !
 program "u p>agraph 7#a74  7,b7 ,p]iod 
( issuance ,an applicant :i* receives a 
c]tification %all h #e ye>s f ! date (  
issuance ( ! c]tification 9 ord] to     
place ! facility 9 s]vice & if su*      
facility is n plac$ 9 s]vice by t "t    
p]iod1 !n ! c]tification %all no long]  
be valid4  7#c7 ,selection crit]ia ,9   
det]m9+ :i* qualify+ (f%ore w9d         
facilities to c]tify "u ?is section1 !  

,secret>y %all--  7,a7 take into        
consid]ation :i* facilities w be plac$ 9
 s]vice at ! e>lie/ date1 &  7,b7 take  
into acc\nt ! te*nology ( ! facility t  
may lead to r$uc$ indu/ry & consum] co/s
 or exp& access to (f%ore w9d4  7#d7    
,review1 additional allocations1 &      
reallocations  7,a7 ,review             
,p]iodically1 b n lat] ?an #d ye>s aft] 
! date ( ! enactm5t ( ?is section1 !    
,secret>y %all review ! cr$its allocat$ 
"u ?is section z ( ! date ( su* review4 
7,b7 ,additional allocations &          
reallocations ,! ,secret>y may make     
additional allocations & reallocations (
 cr$its "u ?is section if ! ,secret>y   
det]m9es t--  7i7 ! limitation "u       
p>agraph 7#a77;,b7 has n be5 atta9$ at !
 "t ( ! review1 or  7ii7 s*$ul$         
plac$-9-s]vice dates ( previ\sly c]tifi$
 facilities h be5 significantly delay$ &
 ! ,secret>y det]m9es ! applicant w n   
meet ! timel9e pursuant to p>agraph     
7#b77;,b74  7,c7 ,additional program =  
allocations & reallocations ,if !       

,secret>y det]m9es t cr$its "u ?is      
section are available = fur!r allocation
 or reallocation1 b !re is an           
insuffici5t quantity ( qualify+         
applications = c]tification p5d+ at ! "t
 ( ! review1 ! ,secret>y is au?oriz$ to 
conduct an additional program =         
applications = c]tification4  7#e7      
,disclosure ( allocations ,! ,secret>y  
%all1 ^u mak+ a c]tification "u ?is     
subsection1 publicly disclose ! id5tity 
( ! applicant & ! am\nt ( ! cr$it )     
respect to su* applicant4  7e7 ,d5ial ( 
d\ble b5efit ,a cr$it %all n be all[$ "u
 ?is section ) respect to any facility  
if--  7#a7 a cr$it has be5 all[$ to su* 
facility "u section #de = su* taxable   
ye> or any prior taxable ye>1  7#b7 a   
cr$it has be5 all[$ ) respect to su*    
facility "u section #df by reason (     
section #dh7;a7 or #dh;,c7a7 = su*      
taxable or any prec$+ taxable ye>1 or   
7#c7 a grant has be5 made ) respect to  
su* facility "u section #afjc ( !       
,am]ican ,recov]y & ,re9ve/m5t ,act (   

#bjji4  4  7c7 ,con=m+ am5dm5ts  7#a7   
,section #di7;a77#a77;,c7 ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$--  7,a7  
by /rik+ & at ! end ( clause 7v71  7,b7 
by /rik+ ! p]iod at ! end ( clause 7vi7 
& ins]t+ 1 &1 &  7,c7 by add+ aft]      
clause 7vi7 ! foll[+ new clause3  7vii7 
! basis ( any prop]ty :i* is "p ( a     
qualify+ (f%ore w9d facility "u section 
#dh;,e4  4  7#b7 ,! table ( sections =  
subp>t ,e ( "p ,,iv ( sub*apt] ,a (     
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by ins]t+ aft] ! item    
relat+ to section #dh;,d ! foll[+ new   
item3  #dh;,e4 ,cr$it = (f%ore w9d      
facilities4  4  7d7 ,effective date ,!  
am5dm5ts made by ?is section %all apply 
to p]iods aft] ! date ( ! enactm5t ( ?is
 ,act1 "u rules simil> to ! rules (     
section #dh7m7 ( ! ,int]nal ,rev5ue     
,code ( #aihf 7z 9 effect on ! day be=e 
! date ( ! enactm5t ( ! ,rev5ue         
,reconciliation ,act ( #aiij74