EXTENSION OF ENERGY CREDIT FOR OFFSHORE WIND FACILITIES.

SEC. 204. EXTENSION OF ENERGY CREDIT FOR OFFSHORE WIND FACILITIES. (a) In General.—Section 48(a)(5) is amended by adding at the end the following new subparagraph: “(F) Qualified offshore wind facilities.— “(i) In general.—In the case of any qualified offshore wind facility— “(I) subparagraph (C)(ii) shall be applied by substituting ‘January 1, 2026’ for ‘January 1, 2022’, “(II) subparagraph (E) shall not apply, and “(III) for purposes of this paragraph, section 45(d)(1) shall be applied by substituting ‘January 1, 2026’ for ‘January 1, 2022’. “(ii) Qualified offshore wind facility.—For purposes of this subparagraph, the term ‘qualified offshore wind facility’ means a qualified facility (within the meaning of section 45) described in paragraph (1) of section 45(d) (determined without regard to any date by which the construction of the facility is required to begin) which is located in the inland navigable waters of the United States or in the coastal waters of the United States.” . (b) [26 U.S.C. 48 note] Effective Date.—The amendment made by this section shall apply to periods after December 31, 2016, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).