SENATE CONCURRENT
RESOLUTION No. 159
STATE OF NEW JERSEY
216th LEGISLATURE
INTRODUCED MARCH 12, 2015
Sponsored by:
Senator JIM WHELAN
District 2 (Atlantic)
Co-Sponsored by:
Senator Greenstein
SYNOPSIS
Urges President and Congress to reinstate and extend production tax credit
for wind energy
CURRENT VERSION OF TEXT
As introduced.
(Sponsorship Updated As Of: 6/26/2015)
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A CONCURRENT RESOLUTION urging the President and Congress of
the United States to reinstate and extend the production tax credit
for wind energy.
WHEREAS, The production tax credit is a federal incentive that
provides financial support for the development of renewable energy
facilities, including wind energy, by providing a per kilowatt-hour
incentive for the first 10 years of a renewable energy facility's
operation; and
WHEREAS, Originally enacted in 1992, the production tax credit has
been renewed and expanded numerous times; and
WHEREAS, The production tax credit for wind energy has been a
major driver of wind power development in the United States,
resulting in significant economic and environmental benefits; and
WHEREAS, When the production tax credit is consistently available,
the wind power industry sees considerable growth; however, when
the credit is allowed to expire, the industry declines, workers are
laid off, and there is a significant market drop in investment in the
technology; and
WHEREAS, Since 1992, the United States Congress has on numerous
occasions gone back and forth between expiring and extending the
production tax credit, which has wreaked havoc on the wind
industry resulting in a “boom-bust” cycle of development; and
WHEREAS, When the production tax credit is available, wind power
production and investment in the wind energy sector dramatically
increases, reducing the reliance on fossil fuels, driving innovation
and economic development, lowering costs, and providing
important environmental benefits, including a reduction in carbon
emissions; and
WHEREAS, The production tax credit for wind energy and other
renewable energy technologies expired at the end of 2013; and
WHEREAS, Expeditious action to restore the production tax credit is
necessary to provide an incentive and certainty to those involved in
the wind energy industry to ensure that the wind energy sector does
not suffer a loss of momentum in the construction and operation of
wind energy projects; and
WHEREAS, The reinstatement of the production tax credit for wind
energy will assist New Jersey as it continues its efforts to
implement the State’s “Offshore Wind Economic Development
Act,” P.L.2010, c.57 (C.48:3-87.1 et al.), and to reduce greenhouse
gas emissions; now, therefore,
BE IT RESOLVED by the Senate of the State of New Jersey (the
General Assembly concurring):
1. The President and the Congress of the United States are
respectfully urged to expeditiously take action to reinstate and
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extend the production tax credit for wind energy in order to promote
job creation, economic growth, and environmental benefits.
2. Copies of this resolution, as filed with the Secretary of State,
shall be transmitted by the Clerk of the General Assembly or the
Secretary of the Senate to the President and Vice President of the
United States, the Majority Leader and Minority Leader of the
United States Senate, the Speaker, Majority Leader and Minority
Leader of the United States House of Representatives, and every
member of the United States Congress elected from this State.
STATEMENT
This resolution respectfully urges the President and the Congress
of the United States to expeditiously take action to reinstate and
extend the production tax credit for wind energy in order to promote
job creation, economic growth, and environmental benefits.