On May 4, Sen. John Thune (R-SD), introduced S. 1291, the "Wind Energy Development Act of 2007," a bill that would extend for four years the (Section 45) production tax credit for eligible renewable energy resources and the (Section 54) Clean Renewable Energy Bond (CREB) program for consumer owner utilities, and others incentives. His bill also provides an annual volume cap of $2.25 billion for CREBs, with the following delineations:
- $750 million for public power systems (with an obligation to serve);
- $750 million for rural electric cooperatives;
- $500 million for governmental entities, other than public power systems and tribes; and
- $250 million for Indian tribes.