SA 3554. 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 RESIDENTIAL AND BUSINESS WIND PROPERTY.
(a) Residential Wind Property.--
(1) IN GENERAL.--Section 25D(a) (relating to allowance of credit) is amended by striking ``and'' at the end of paragraph (2), by striking the period at the end of paragraph (3) and inserting ``, and'', and by adding at the end the following new paragraph:
``(4) 30 percent of the qualified small wind energy property expenditures made by the taxpayer during such year.''.
(2) LIMITATION.--Section 25D(b)(1) (relating to maximum credit) is amended by striking ``and'' at the end of subparagraph (B), by striking the period at the end of subparagraph (C) and inserting ``, and'', and by adding at the end the following new subparagraph:
``(D) $4,000 with respect to any qualified small wind energy property expenditures.''.
(3) QUALIFIED SMALL WIND ENERGY PROPERTY EXPENDITURES.--
(A) IN GENERAL.--Section 25D(d) (relating to definitions) is amended by adding at the end the following new paragraph:
``(4) QUALIFIED SMALL WIND ENERGY PROPERTY EXPENDITURE.--The term `qualified small wind energy property expenditure' means an expenditure for qualified small wind energy property (as defined in section 48(c)(3)(A)) installed on or in connection with a dwelling unit and related real property of greater than 100 acres that is located in the United States and used as a residence by the taxpayer.''.
(B) NO DOUBLE BENEFIT.--Section 45(d)(1) (relating to wind facility) is amended by adding at the end the following new sentence: ``Such term shall not include any facility with respect to which any qualified small wind energy property expenditure (as defined in subsection (d)(4) of section 25D) is taken into account in determining the credit under such section.''.
(4) MAXIMUM EXPENDITURES IN CASE OF JOINT OCCUPANCY.--Section 25D(e)(4)(A) (relating to maximum expenditures) is amended by striking ``and'' at the end of clause (ii), by striking the period at the end of clause (iii) and inserting ``, and'', and by adding at the end the following new clause:
``(iv) $1,667 in the case of wind turbines for which qualified small wind energy property expenditures are made.''.
(b) Business Wind Property.--
(1) 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,''.
(2) 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''.
(3) QUALIFIED SMALL WIND ENERGY PROPERTY.--Section 48(c) is amended--
(A) by inserting ``; Qualified Small Wind Energy Property'' after ``Qualified Microturbine Property'' in the heading,
(B) by striking ``For purposes of this subsection'' and inserting ``For purposes of this section'',
(C) by striking ``paragraph (1)'' in paragraphs (1)(B) and (2)(B) and inserting ``subsection (a)(1)'', and
(D) 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 the area of which is greater than 100 acres.
``(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.''.
(4) 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)''.
(c) Preemption.--Nothing in this section preempts State or local laws regarding the zoning, siting, or permitting of wind turbines.
(d) 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.)