On May 29, Rep. Earl Blumenauer (D-OR) and Rep. Tom Cole (R-OK) introduced the Rural Wind Energy Expansion Act of 2014 (H.R. 4671), which would expand the investment tax credit for “qualified small wind energy property.” Section 48 of the Internal Revenue Code provides a one-time investment tax credit equal to 30% of the cost of eligible renewable energy property, which may be claimed when such property is placed in service.  Currently, qualified small wind energy property is limited to turbines with a nameplate capacity that does not exceed 100 kilowatts.  The Blumenauer-Cole bill would extend the credit to wind projects with an aggregate capacity of 20 megawatts.  The investment tax credit for qualified small wind energy property expires on December 31, 2016.  The bill does not propose to extent that deadline.