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119-hr-2133119th CongressWALLET

Lakes Before Turbines Act

Sponsored By: Representative Langworthy, Nicholas A. [R-NY-23]

Introduced

Summary

The Lakes Before Turbines Act would end federal investment tax credit (ITC) eligibility for offshore wind projects in inland navigable waters of the United States outside the Great Lakes. It applies to taxable years beginning after December 31, 2022, and leaves Great Lakes projects to be evaluated under existing ITC rules.

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Bill Overview

Analyzed Economic Effects

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

Ends investment tax credit for inland offshore wind

This bill would end the investment tax credit for offshore wind projects in inland U.S. waters. Projects in the Great Lakes would be exempt and could still be evaluated under current rules. It would apply to taxable years starting after December 31, 2022. Developers and investors with projects in other inland waters would lose this credit and could face higher costs.

Sponsors & CoSponsors

Sponsor

Langworthy, Nicholas A. [R-NY-23]

NY • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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