I 

116TH CONGRESS 

1ST SESSION H. R. 3473 

To amend the Internal Revenue Code of 1986 to provide for an investment 

tax credit related to the production of electricity from offshore wind. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 25, 2019 

Mr. LANGEVIN (for himself, Mr. TONKO, and Mr. CARTWRIGHT) introduced 

the following bill; which was referred to the Committee on Ways and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

for an investment tax credit related to the production 

of electricity from offshore wind. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Offshore Wind Incen5 tives for New Development Act’’ or the ‘‘Offshore WIND 

6 Act’’. 

7 SEC. 2. ENERGY CREDIT FOR QUALIFIED OFFSHORE WIND 

8 FACILITIES. 

9 (a) IN GENERAL.—Subsection (a) of section 48 of the 

10 Internal Revenue Code is amended— 


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1 (1) in paragraph (2)(A)(i)— 

2 (A) in subclause (III), by striking ‘‘and’’ at 

3 the end; and 

4 (B) by adding at the end the following new 

5 subclause: 

6 ‘‘(V) qualified offshore wind 

7 property, and’’; and 

8 (2) in paragraph (3)(A)— 

9 (A) in clause (vi), by striking ‘‘or’’ at the 

10 end; 

11 (B) in clause (vii), by adding ‘‘or’’ at the 

12 end; and 

13 (C) by adding at the end the following new 

14 clause: 

15 ‘‘(viii) qualified offshore wind prop16 erty, but only with respect to property the 

17 construction of which begins before Janu18 ary 1, 2026,’’. 

19 (b) QUALIFIED OFFSHORE WIND PROPERTY.—Sub20 section (c) of section 48 of the Internal Revenue Code of 

21 1986 is amended by adding at the end the following new 

22 paragraph: 

23 ‘‘(5) QUALIFIED OFFSHORE WIND PROPERTY.— 


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1 ‘‘(A) IN GENERAL.—The term ‘qualified 

2 offshore wind property’ means an offshore facil3 ity using wind to produce electricity. 

4 ‘‘(B) OFFSHORE FACILITY.—The term 

5 ‘offshore facility’ means any facility located in 

6 the inland navigable waters of the United 

7 States, including the Great Lakes, or in the 

8 coastal waters of the United States, including 

9 the territorial seas of the United States, the ex10 clusive economic zone of the United States, and 

11 the outer Continental Shelf of the United 

12 States. 

13 ‘‘(C) EXCEPTION FOR QUALIFIED SMALL

14 WIND ENERGY PROPERTY.—The term ‘qualified 

15 offshore wind property’ shall not include any 

16 property described in paragraph (4). 

17 ‘‘(D) SPECIAL RULE.—In the case of any 

18 property described in subparagraph (A) which 

19 was placed in service after December 31, 2016, 

20 and for which a credit under this section was 

21 allowed by reason of subsection (a)(5) in any 

22 taxable year which ends before or includes the 

23 date of the enactment of the Offshore WIND 

24 Act, notwithstanding any election under such 

25 subsection (a)(5), such property may be treated 


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1 at the election of the taxpayer as qualified off2 shore wind property (and not as qualified prop3 erty which is part of a qualified investment 

4 credit facility) for— 

5 ‘‘(i) taxable years including or begin6 ning after such date of enactment, and 

7 ‘‘(ii) any taxable years ending before 

8 such date of enactment, including by filing 

9 an amended return. 

10 Notwithstanding section 6501, an amended re11 turn may be filed for purposes of clause (ii) for 

12 any taxable year described in such clause.’’. 

13 (c) EFFECTIVE DATE.—The amendments made by 

14 this section shall take effect on the date of the enactment 

15 of this Act. 

Æ 


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