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HR2187119th 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

Removes federal investment and production tax credits for certain offshore wind facilities. The bill would bar eligibility for the Investment Tax Credit and the clean electricity Production Tax Credit for any offshore wind facility located in the inland navigable waters or in the coastal waters of the United States.

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  • Offshore wind developers and owners: Would lose access to the ITC and PTC for projects sited in inland navigable waters or coastal waters, for energy produced or property placed in service after Dec. 31, 2025.
  • Tax code and qualification rules: Would amend multiple Internal Revenue Code sections, including 48(a)(5), 45(d)(1), 45Y(b)(1), and 48E(b)(3), to define a "disqualified offshore wind facility" and treat those sites as not "qualified" for the credits.

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Bill Overview

Analyzed Economic Effects

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

Blocks tax credits for offshore wind in U.S. waters

This bill would end federal investment and production tax credits for many offshore wind projects. Projects in U.S. inland navigable waters or coastal waters would not count as qualified facilities. Owners, developers, and investors in those projects would not be able to claim the clean electricity production tax credit or the clean electricity investment tax credit. The change would apply to energy produced and property placed in service after December 31, 2025.

Sponsors & CoSponsors

Sponsor

Fallon, Pat [R-TX-4]

TX • R

Cosponsors

  • Rep. Gooden, Lance [R-TX-5]

    TX • R

    Sponsored 3/18/2025

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

    WY • R

    Sponsored 3/18/2025

  • Rep. Gill, Brandon [R-TX-26]

    TX • R

    Sponsored 3/18/2025

  • Rep. Clyde, Andrew S. [R-GA-9]

    GA • R

    Sponsored 3/25/2025

Roll Call Votes

No roll call votes available for this bill.

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