To amend the Internal Revenue Code of 1986 to end the investment tax credit for offshore wind facilities in the inland navigable waters of the United States.

Bill: 117-hr-7584
Sponsor: full_name: Rep. Jacobs, Chris [R-NY-27]
Introduced: 2022-04-26
Policy area: Taxation
Latest action: action_date: 2022-04-26
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2022-04-26
action_desc: Introduced in House
text: <p>This bill eliminates the energy-related tax credit for investment in certain offshore wind facilities after 2021.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 7584 IN THE HOUSE OF REPRESENTATIVES April 26, 2022 Mr. Jacobs of New York 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 end the investment tax credit for offshore wind facilities in the inland navigable waters of the United States.

1. ITC for certain offshore wind facilities prohibited after 2021 (a) In general Section 48(a)(5)(F)(ii) of the Internal Revenue Code of 1986 is amended by inserting (other than any of the Great Lakes) after in the inland navigable waters of the United States . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2021.