To amend the Internal Revenue Code of 1986 to disallow the production tax credit and investment tax credit for offshore wind facilities placed in service in the inland navigable waters of the United States or the coastal waters of the United States.
About This Bill
Committee
Latest Action · February 21, 2025
Referred to the House Committee on Ways and Means.
H.R. 1462 would eliminate federal tax credits for offshore wind energy facilities built in U.S. waters. Specifically, the bill removes eligibility for the investment tax credit and production tax credit (which help reduce the cost of building and operating renewable energy projects) for any offshore wind facility located in inland navigable waters or coastal waters of the United States. The changes would take effect on January 1, 2026, applying to wind facilities placed in service after that date. This legislation would effectively discourage offshore wind development by removing the financial incentives that currently make such projects more economically viable for companies and investors.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.