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HR 2187119th CongressIn Committee
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.
Introduced: Mar 18, 2025
Standard Summary
Comprehensive overview in 1-2 paragraphs
This bill would eliminate federal tax credits for offshore wind facilities located in inland navigable waters or coastal waters of the United States.
Key Points
- 1Disallows the production tax credit for offshore wind facilities in inland navigable waters or coastal waters
- 2Eliminates the investment tax credit for the same facilities
- 3Applies to both the clean electricity production tax credit and clean electricity investment tax credit
- 4Effective for energy produced and property placed in service after December 31, 2025
- 5Amends multiple sections of the Internal Revenue Code (48(a)(5), 45(d)(1), 45Y(b)(1), 48E(b)(3))
Impact Areas
Offshore wind energy industryFederal renewable energy tax incentivesEnergy development in inland and coastal watersInternal Revenue Service tax credit administration
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