S.Amdt. 3689

SA 3689. Mr. FRANKEN submitted an amendment intended to be proposed
to amendment SA 3679 proposed by Mr. McConnell (for Mr. Thune (for
himself and Mr. Nelson)) to the bill H.R. 636, to amend the Internal
Revenue Code of 1986 to permanently extend increased expensing
limitations, and for other purposes; which was ordered to lie on the
table; as follows:

At the appropriate place, insert the following:

SEC. ___. INVESTMENT TAX CREDIT FOR COMMUNITY WIND PROJECTS
HAVING GENERATION CAPACITY OF NOT MORE THAN 20
MEGAWATTS.

(a) Short Title.--This section may be cited as the
``Distributed and Community Wind Energy Act''.
(b) In General.--Paragraph (4) of section 48(c) of the
Internal Revenue Code of 1986 is amended--
(1) by striking subparagraph (A) and inserting the
following new subparagraph:
``(A) In general.--The term `qualified small wind energy
property' means--
``(i) property which uses a qualifying small wind turbine
to generate electricity, or
``(ii) property which uses 1 or more wind turbines with an
aggregate nameplate capacity of more than 100 kilowatts but
not more than 20 megawatts.'',
(2) by redesignating subparagraph (C) as subparagraph (D)
and by inserting after subparagraph (B) the following new
subparagraph:
``(C) Regulations.--The Secretary shall prescribe such
regulations as may be appropriate to prevent improper
division of property to attempt to meet the limitation under
subparagraph (A)(ii).'', and
(3) in subparagraph (D), as redesignated by paragraph (2),
by striking ``December 31, 2016'' and inserting ``December
31, 2021''.
(c) Denial of Production Credit.--Paragraph (1) of section
45(d) of the Internal Revenue Code of 1986 is amended by
striking the period at the end and inserting ``or any
facility which is a qualified small wind energy property
described in section 48(c)(4)(A)(ii) with respect to which
the credit under section 48 is allowable.''.
(d) Effective Date.--The amendments made by this section
shall apply to property placed in service after the date of
the enactment of this Act.
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