I 
112TH CONGRESS 
2D SESSION 
H. R. 6031 
To amend the Internal Revenue Code of 1986 to extend the production 
and investment tax credits for wind facilities and to modify the foreign 
tax credit rules applicable to major integrated oil companies which are 
dual capacity taxpayers. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 27, 2012 
Mr. BLUMENAUER (for himself, Mr. LEVIN, Mr. RANGEL, Mr. STARK, Mr. 
MCDERMOTT, Mr. LEWIS of Georgia, Mr. NEAL, Mr. BECERRA, Mr. 
DOGGETT, Mr. THOMPSON of California, Mr. LARSON of Connecticut, Mr. 
KIND, Mr. PASCRELL, Ms. BERKLEY, and Mr. CROWLEY) 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 extend 
the production and investment tax credits for wind facili-
ties and to modify the foreign tax credit rules applicable 
to major integrated oil companies which are dual capac-
ity taxpayers. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Wind Powering Amer-
ican Jobs Act of 2012’’. 
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SEC. 2. EXTENSION OF PRODUCTION AND INVESTMENT TAX 
CREDITS FOR WIND FACILITIES. 
(a) EXTENSION
OF PRODUCTION CREDIT.—Para-
graph (1) of section 45(d) of the Internal Revenue Code 
of 1986 is amended by striking ‘‘January 1, 2013’’ and 
inserting ‘‘January 1, 2014’’. 
(b) EXTENSION OF INVESTMENT CREDIT.—Clause 
(i) of section 48(a)(5)(C) of such Code is amended by 
striking ‘‘or 2012’’ and inserting ‘‘2012, or 2013’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to property placed in service after 
December 31, 2012. 
SEC. 3. MODIFICATIONS OF FOREIGN TAX CREDIT RULES 
APPLICABLE TO MAJOR INTEGRATED OIL 
COMPANIES WHICH ARE DUAL CAPACITY 
TAXPAYERS. 
(a) IN GENERAL.—Section 901 of the Internal Rev-
enue Code of 1986 is amended by redesignating subsection 
(n) as subsection (o) and by inserting after subsection (m) 
the following new subsection: 
‘‘(n) SPECIAL RULES RELATING TO MAJOR INTE-
GRATED OIL COMPANIES WHICH ARE DUAL CAPACITY 
TAXPAYERS.— 
‘‘(1) GENERAL
RULE.—Notwithstanding any 
other provision of this chapter, any amount paid or 
accrued by a dual capacity taxpayer which is a 
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major integrated oil company (as defined in section 
167(h)(5)(B)) to a foreign country or possession of 
the United States for any period shall not be consid-
ered a tax— 
‘‘(A) if, for such period, the foreign coun-
try or possession does not impose a generally 
applicable income tax, or 
‘‘(B) to the extent such amount exceeds 
the amount (determined in accordance with reg-
ulations) which— 
‘‘(i) is paid by such dual capacity tax-
payer pursuant to the generally applicable 
income tax imposed by the country or pos-
session, or 
‘‘(ii) would be paid if the generally ap-
plicable income tax imposed by the country 
or possession were applicable to such dual 
capacity taxpayer. 
Nothing in this paragraph shall be construed to 
imply the proper treatment of any such amount not 
in excess of the amount determined under subpara-
graph (B). 
‘‘(2) DUAL
CAPACITY
TAXPAYER.—For pur-
poses of this subsection, the term ‘dual capacity tax-
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payer’ means, with respect to any foreign country or 
possession of the United States, a person who— 
‘‘(A) is subject to a levy of such country or 
possession, and 
‘‘(B) receives (or will receive) directly or 
indirectly a specific economic benefit (as deter-
mined in accordance with regulations) from 
such country or possession. 
‘‘(3) GENERALLY APPLICABLE INCOME TAX.— 
For purposes of this subsection— 
‘‘(A) IN
GENERAL.—The term ‘generally 
applicable income tax’ means an income tax (or 
a series of income taxes) which is generally im-
posed under the laws of a foreign country or 
possession on income derived from the conduct 
of a trade or business within such country or 
possession. 
‘‘(B) EXCEPTIONS.—Such term shall not 
include a tax unless it has substantial applica-
tion, by its terms and in practice, to— 
‘‘(i) persons who are not dual capacity 
taxpayers, and 
‘‘(ii) persons who are citizens or resi-
dents of the foreign country or posses-
sion.’’. 
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(b) EFFECTIVE DATE.— 
(1) IN GENERAL.—The amendments made by 
this section shall apply to taxes paid or accrued in 
taxable years ending after the date of the enactment 
of this Act. 
(2) 
CONTRARY
TREATY
OBLIGATIONS 
UPHELD.—The amendments made by this section 
shall not apply to the extent contrary to any treaty 
obligation of the United States. 
Æ 
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