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[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2987 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 2987

To amend the Internal Revenue Code of 1986 to phasedown the credit for 
                    electricity produced from wind.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             August 2, 2013

 Mr. Fitzpatrick introduced the following bill; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL

 
To amend the Internal Revenue Code of 1986 to phasedown the credit for 
                    electricity produced from wind.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``PTC Certainty and Phaseout Act of 
2013''.

SEC. 2. EXTENSION AND PHASEDOWN OF PRODUCTION CREDIT FOR ELECTRICITY 
              PRODUCED FROM WIND.

    (a) Extension.--Paragraph (1) of section 45(d) of the Internal 
Revenue Code of 1986 is amended by striking ``January 1, 2014'' in 
paragraph (1) and inserting ``January 1, 2020''.
    (b) Phasedown of Credit.--Subsection (b) of section 45 of such Code 
is amended by adding at the end the following new paragraph:
            ``(5) Phasedown of credit for wind energy.--
                    ``(A) In general.--In the case of facilities to 
                which subsection (d)(1) applies and the construction of 
                which begins after December 31, 2013, the number of 
                cents taken into account under subsection (a) for 
                calendar years ending after such date (determined after 
                the application of the preceding paragraphs of this 
                subsection and without regard to this paragraph) shall 
                be only the applicable percentage of such number for 
                such year. If any amount determined under the preceding 
                sentence is not a multiple of 0.01 cent, such amount 
                shall be rounded to the nearest multiple of 0.01 cent.
                    ``(B) Applicable percentage.--For purposes of 
                subparagraph (A), the applicable percentage shall be 
                determined in accordance with the following table:

``Year construction                                      The applicable
  begins:                                                percentage is:
        2014.........................................              100 
        2015.........................................               90 
        2016.........................................               80 
        2017.........................................               70 
        2018.........................................               60 
        2019.........................................            60.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to property originally placed in service on or after January 1, 
2013.
                                 <all>
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