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119-hr-1462119th CongressWALLET

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.

Sponsored By: Representative Fallon, Pat [R-TX-4]

Introduced

Summary

Rewrites which offshore wind projects qualify for federal tax credits based on location. This bill would change tax-credit rules so that offshore wind sited in the inland navigable waters or coastal waters of the United States faces different credit treatment than other projects.

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  • Offshore wind projects located in inland navigable or coastal U.S. waters would lose eligibility for the Investment Tax Credit (ITC) and would be excluded from the Clean Electricity Production Tax Credit (CEPTC). They would instead be covered under the Renewable Resources Production Tax Credit (PTC) framework where applicable.
  • The changes would apply to energy produced and to property placed in service after December 31, 2025.
  • The bill targets specific clauses of the Internal Revenue Code by amending section 48(a)(5), section 45(d)(1), and section 45Y(b)(1) to reflect the new location-based rules.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Mixed tax changes for offshore wind in U.S. waters

If enacted, this would change federal tax credits for offshore wind projects in inland navigable or coastal U.S. waters. Those projects would lose the Investment Tax Credit and would be excluded from the Clean Electricity Production Tax Credit. But they could qualify for the older Renewable Resources Production Tax Credit instead. These changes would apply to energy produced and property placed in service after December 31, 2025. This targets project owners, developers, and investors, not most households.

Sponsors & CoSponsors

Sponsor

Fallon, Pat [R-TX-4]

TX • R

Cosponsors

  • Rep. Gooden, Lance [R-TX-5]

    TX • R

    Sponsored 2/21/2025

  • Rep. Gill, Brandon [R-TX-26]

    TX • R

    Sponsored 2/24/2025

  • Rep. Hageman, Harriet M. [R-WY-At Large]

    WY • R

    Sponsored 3/6/2025

Roll Call Votes

No roll call votes available for this bill.

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