SA 3553. Mr. ALEXANDER submitted an amendment intended to be proposed by him to the bill H.R. 2419, to provide for the continuation of agricultural programs through fiscal year 2012, and for other purposes; which was ordered to lie on the table; as follows:

On page 1465, strike line 6 through page 1469, line 13 and insert the following:
SEC. 12301. CREDIT FOR BUSINESS WIND PROPERTY.
(a) In General.--Section 48(a)(3)(A) (defining energy property) is amended by striking ``or'' at the end of clause (iii), by adding ``or'' at the end of clause (iv), and by inserting after clause (iv) the following new clause:
``(v) qualified small wind energy property,''.
(b) 30 Percent Credit.--Section 48(a)(2)(A)(i) is amended by striking ``and'' at the end of subclause (II) and by inserting after subclause (III) the following new subclause:
``(IV) qualified small wind energy property, and''.
(c) Qualified Small Wind Energy Property.--Section 48(c) is amended--
(1) by inserting ``; Qualified Small Wind Energy Property'' after ``Qualified Microturbine Property'' in the heading,
(2) by striking ``For purposes of this subsection'' and inserting ``For purposes of this section'',
(3) by striking ``paragraph (1)'' in paragraphs (1)(B) and (2)(B) and inserting ``subsection (a)(1)'', and
(4) by adding at the end the following new paragraph:
``(3) QUALIFIED SMALL WIND ENERGY PROPERTY.--
``(A) IN GENERAL.--The term `qualified small wind energy property' means property which uses a qualifying small wind turbine to generate electricity, installed on or in connection with real property which is--
``(i) a farm (within the meaning of section 2032A(e)(4), or
``(ii) a small business (within the meaning of section 44(b)(1)) located in a rural area (within the meaning of clause (i) or (ii) of section 1400E(a)(2)(B)).
``(B) LIMITATION.--In the case of qualified small wind energy property placed in service during the taxable year, the credit otherwise determined under subsection (a)(1) for such year with respect to such property shall not exceed $4,000 with respect to any taxpayer.
``(C) QUALIFYING SMALL WIND TURBINE.--The term `qualifying small wind turbine' means a wind turbine which--
``(i) has a nameplate capacity of not more than 100 kilowatts, and
``(ii) meets the performance standards of the American Wind Energy Association.
``(D) TERMINATION.--The term `qualified small wind energy property' shall not include any property for any period after December 31, 2008.''.
(d) Conforming Amendment.--Section 48(a)(1) is amended by striking ``paragraphs (1)(B) and (2)(B)'' and inserting ``paragraphs (1)(B), (2)(B), and (3)(B)''.
(e) Preemption.--Nothing in this section preempts State or local laws regarding the zoning, siting, or permitting of wind turbines.
(f) Effective Date.--The amendments made by this section shall apply to expenditures after December 31, 2007.


(As printed in the Congressional Record for the Senate on Nov 7, 2007.)