,i #aafth ,,congress #ast ,session ,h4 ,r4 #ecge ,,in ,,the ,,house ,,of ,,representatives ,december #aj1 #bjai,ms4 ,gabbard 7for herself and ,mr4 ,case7 introduced the following bill2 which was referred to the ,committee on ,ways and ,means ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to allow the energy credit for certain ocean thermal energy equipment4 #a4 ,short title2 findings 7a7 ,short title ,this ,act may be cited as the ,e4 ,cooper ,brown ,ocean ,clean ,energy ,act of #bjai4 7b7 ,findings related to ,ocean ,thermal ,energy ,conversion ,congress finds the following with respect to ocean thermal energy conversion 7,,otec73 7#a7 ,,otec is a clean energy technology that produces energy by using temperature differentials between cooler deep and warm surface seawaters4 7#b7 ,,otec technology has the potential to produce massive levels of clean energy to generate electricity4 7#c7 ,deployment of ,,otec technology will reduce greenhouse gases and reliance on fossil fuels4 7#d7 ,in tropical and subtropical remote locations1 electricity is expensive to generate4 ,power generated from ,,otec technology will be inexpensive when compared to the unit cost of power from a traditional oil based electrical generation system4 7#e7 ,,otec generated energy would reduce operational costs for remote military bases such as ,kwajalein and ,diego ,garcia24 7#f7 ,the ,united ,states became involved in ,,otec research in #aigd with the establishment of the ,natural ,energy ,laboratory of ,hawaii ,authority4 ,the laboratory is one of the world's leading test facilities for ,,otec technology4 ,the ,united ,states ,navy supported the development of a #aje k,w demonstration ,,otec plant at the laboratory site4 ,this facility became operational in #bjae and supplies electricity to the local electricity grid4 7#g7 ,in certain regions1 onshore ,,otec plants are also feasible and they can be configured to support seawater or lake water air conditioning 7,,swac_/,,lwac7 systems for refrigeration and cooling1 agriculture1 and desalination systems for water purification4 7#h7 ,economic benefits of ,,otec include reduced fuel imports1 stable utilities pricing1 reduced capital expense to power companies and governments1 and significant energy costs savings4 7#i7 ,social benefits of ,,otec include and an ability to produce freshwater and promotion of aquaculture4 7c7 ,findings related to seawater air conditioning ,congress finds the following with respect to seawater air conditioning 7,,swac73 7#a7 ,,swac is an alternate-energy system that uses the cold water from the deep ocean 7and in some cases a deep lake7 to cool buildings4 7#b7 ,,swac was developed as a secondary benefit in the development of ocean thermal energy conversion 7,,otec7 and can be used in conjunction with an ,,otec system or as a standalone alternate energy system4 7#c7 ,the basic process involves water that is pumped from a deep cold-water source 7ocean or lake7 and then passed through a heat exchanger4 ,a closed-loop freshwater water distribution system is pumped through a heat exchanger cooling the water and the cooled water is distributed throughout a building or group of buildings 7i4e41 a district cooling system74 7#d7 ,the ,,swac technology has been proven successful with large systems at ,cornell ,university1 ,toronto1 ,canada1 and the ,natural ,energy ,authority of ,hawaii 7,,nelha74 7#e7 ,environmental benefits of ,,swac include being a clean1 renewable source of energy1 decreased reliance on fossil fuels for cooling1 and reduction in greenhouse gas emissions4 7#f7 ,economic benefits of ,,swac include stable long-term energy costs and independence from market trends1 reduced operating costs 7including lower costs in fuel1 freshwater1 equipment1 and equipment maintenance71 and being a cost-effective and attractive energy technology investment4 #b4 ,energy credit for certain ocean thermal energy property 7a7 ,in general ,section #dh7;a77#c77;,a7 of the ,internal ,revenue ,code of #aihf is amended by striking or at the end of clause 7vi71 by adding or at the end of clause 7vii71 and by adding at the end the following new clause3 7viii7 equipment which converts ocean thermal energy to usable energy or which uses ocean water as a thermal energy sink to cool a structure1 4 7b7 #ae-,percent credit ,section #dh7;a77#b77;,a7 of such ,code is amended-- 7#a7 by striking and at the end of clause 7i77,,iv72 7#b7 by redesignating clause 7ii7 as clause 7iii72 7#c7 by striking any energy property to which clause 7i7 does not apply in clause 7iii7 7as so redesignated7 and inserting any other energy property2 and 7#d7 by inserting after clause 7i7 the following new clause3 7ii7 #ae percent in the case of any energy property described in paragraph 7#c77;,a77viii71 and 4 7c7 ,effective date ,the amendments made by this section shall apply to periods after ,december #ca1 #bjai1 under rules similar to the rules of section #dh7m7 of the ,internal ,revenue ,code of #aihf 7as in effect on the day before the date of the enactment of the ,revenue ,reconciliation ,act of #aiij74