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Amendments Proposed to Extend, Clarify ITC

Monday, May 19, 2014 - 7:00AM

Sen. Tom Carper, D-Del., last week led a bipartisan group of legislators in filing two proposed amendments to the Senate tax extenders bill that would extend and clarify the renewable energy investment tax credit (ITC). The first amendment would provide a long-term extension of the30 percent renewable energy ITC for the first 3,000 megawatts of qualifying offshore wind projects. It is the same text as S. 401, the Incentivizing Offshore Wind Power Act. The second amendment would clarify previous legislation to ensure that waste heat to power technology is eligible for the ITC under Section 58 of the tax code. The amendments would apply to Senate Amendment 3060, which proposes substituting the text of H.R. 3474 with a Senate tax extenders package. 

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