S.Amdt. 1532
What it does: Adds SEC. 102. EXPANSION OF CREDIT FOR ELECTRICITY PRODUCED FROM CERTAIN RENEWABLE RESOURCES TO INCLUDE WAVE ENERGY at the end of title I of division B
Sen. Frank R. Lautenberg (D-NJ)What it changes
1 change to S. 14
Adds SEC. 102. EXPANSION OF CREDIT FOR ELECTRICITY PRODUCED FROM CERTAIN RENEWABLE RESOURCES TO INCLUDE WAVE ENERGY at the end of title I of division B
Adds a sectionInserted: SEC. 102. EXPANSION OF CREDIT FOR ELECTRICITY PRODUCED FROM CERTAIN RENEWABLE RESOURCES TO INCLUDE WAVE ENERGY.
Inserted: (a) In General.--Section 45(c)(1) (defining qualified energy resources), as amended by this Act, is amended--
Inserted: (1) by striking "and" at the end of subparagraph (G),
Inserted: (2) by striking the period at the end of subparagraph (H) and inserting ", and", and
Inserted: (3) by adding at the end the following new subparagraph:
Inserted: "(I) wave energy.".
Inserted: (b) Wave Energy.--Section 45(c), as amended by this Act, is amended by adding at the end the following new paragraph:
Inserted: "(8) Wave energy.--The term 'wave energy' means energy derived from the energy stored in ocean waves.".
Inserted: (c) Wave Energy Facility.--Section 45(d) (relating to qualified facilities), as amended by this Act, is amended by adding at the end the following new paragraph:
Inserted: "(8) Wave energy facility.--In the case of a facility using wave energy to produce electricity, the term 'qualified facility' means any facility owned by the taxpayer which is originally placed in service after the date of the enactment of the Energy Tax Incentives Act of 2003 and before January 1, 2007.".
Inserted: (d) Effective Date.--The amendments made by this section shall apply to electricity produced and sold after the date of the enactment of this Act, in taxable years ending after such date.
Original wording
At the end of title I of division B add the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 1532. Mr. LAUTENBERG submitted an amendment intended to be proposed by him to the bill S. 14, to enhance the energy security of the United States, and for other purposes; which was ordered to lie on the table; as follows:
At the end of title I of division B add the following:
SEC. 102. EXPANSION OF CREDIT FOR ELECTRICITY PRODUCED FROM CERTAIN RENEWABLE RESOURCES TO INCLUDE WAVE ENERGY.
(a) In General.--Section 45(c)(1) (defining qualified energy resources), as amended by this Act, is amended--
(1) by striking “and” at the end of subparagraph (G),
(2) by striking the period at the end of subparagraph (H) and inserting “, and”, and
(3) by adding at the end the following new subparagraph:
“(I) wave energy.”.
(b) Wave Energy.--Section 45(c), as amended by this Act, is amended by adding at the end the following new paragraph:
“(8) Wave energy.--The term ‘wave energy' means energy derived from the energy stored in ocean waves.”.
(c) Wave Energy Facility.--Section 45(d) (relating to qualified facilities), as amended by this Act, is amended by adding at the end the following new paragraph:
“(8) Wave energy facility.--In the case of a facility using wave energy to produce electricity, the term ‘qualified facility' means any facility owned by the taxpayer which is originally placed in service after the date of the enactment of the Energy Tax Incentives Act of 2003 and before January 1, 2007.”.
(d) Effective Date.--The amendments made by this section shall apply to electricity produced and sold after the date of the enactment of this Act, in taxable years ending after such date.
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Senate amendment submitted
July 31, 2003