Linda and I are following the PTC for Corp. out of DC.  Ed Coats in Enron Corporate Tax leads from Houston.  We have a Bracewell Patterson attorney in DC retained to support our corporate tax efforts on Capitol Hill.  

Enron Wind also has a lobbyist dedicated 24/7 to this effort.  

  




	Mark Metts/Enron@EnronXGate 07/02/2001 10:40 AM 	   To: Chris Long/Corp/Enron@ENRON  cc: Steven J Kean/NA/Enron@Enron  Subject: RE: Wind Production Tax Credit (PTC)	


Chris,

Thanks very much for the prompt reply.  This is exactly what I needed.  Who is working this in-house?  Do we have any outside resources devoted to it?

Mark

 -----Original Message-----
From: 	Long, Chris  
Sent:	Monday, July 02, 2001 8:45 AM
To:	Metts, Mark
Cc:	Kean, Steven; Robertson, Linda; Decker, Larry; Fisher, Dolores
Subject:	Wind Production Tax Credit (PTC)

Mark - I left a voice mail on your cell.

The Wind Production Tax Credit expires on December 31, 2001.   The PTC will be extended.   There is significant bipartisan support for the PTC, the revenue number is reasonable, and renewables are a key component of the energy debate.

The question is when and how.  Two likely scenarios are:

1)  As part of the Energy Bill.  The House Ways and Means Committee will mark-up the tax portions of the energy bill in mid-July.  We understand that Chairman Thomas is committed to including the PTC as part of the Ways and Means bill.  The Senate Finance Committee has not scheduled a mark-up.  While the energy bill will be debated during July, final action will likely not occur until after the August recess.   In this scenario, look to September at the earliest.

2)  There are 10 provisions, including the PTC,  in the IRC that expire by December 31, 2001.   Historically, Congress approves an "extenders" package late in the session to keep the tax credits functioning.   While no one can predict when Congress will adjourn, they are set to adjourn in early October.  In this scenario, the PTC would be extended in late September at the earliest.

Mark, this is Congress, so anything can change.  

Call me with any questions at (202) 466-9158.