Providing Opportunities With Effluent Renewable (POWER) Act

Providing Opportunities With Effluent Renewables (POWER) Act - Amends the Internal Revenue Code to include swine and bovine waste nutrients as a renewable energy resource for purposes of the renewable electricity production tax credit.

Defines a qualified facility using such nutrients to produce electricity as one owned by the taxpayer which is originally placed in service after December 31, 2001, and before January 1, 2007.

Exempts projects related to such a facility from tax credit reductions for certain grants, tax-exempt bonds, subsidized energy financing, and other credits.

Amends the Food Security Act of 1985 to provide that the Secretary of the Interior may make cost-share and incentive payments to a producer under an environmental quality incentives contract to implement an anaerobic digestion system as a component of a nutrient management system during the two fiscal years after the fiscal year in which the contract is entered. (Currently, such payments are limited to the one fiscal year after the contract is entered.)