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.

Bill: 119-hr-2187
Sponsor: full_name: Rep. Fallon, Pat [R-TX-4]
Introduced: 2025-03-18
Policy area: Taxation
Latest action: action_date: 2025-03-18
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 2187 IN THE HOUSE OF REPRESENTATIVES March 18, 2025 Mr. Fallon (for himself, Mr. Gooden , Ms. Hageman , and Mr. Gill of Texas ) 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 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.

1. Disallowance of investment tax credit and clean electricity production credit for certain offshore wind facilities (a) Investment tax credit Section 48(a)(5) of the Internal Revenue Code of 1986 is amended by striking subparagraph (F). (b) Renewable resources production tax credit Section 45(d)(1) of such Code is amended by striking the period at the end and inserting , or any facility which is located in the inland navigable waters of the United States or in the coastal waters of the United States . (c) Clean electricity production tax credit Section 45Y(b)(1) of such Code is amended by adding at the end the following new subparagraph: (E) Certain offshore wind facilities not treated as qualified facilities (i) In general The term qualified facility shall not include any disqualified offshore wind facility. (ii) Disqualified offshore wind facility For purposes of this subparagraph, the term disqualified offshore wind facility means an offshore wind facility which is located in the inland navigable waters of the United States or in the coastal waters of the United States. . (d) Clean electricity investment tax credit Section 48E(b)(3) of such Code is amended by adding at the end the following new subparagraph: (D) Certain offshore wind facilities not treated as qualified facilities The term qualified facility shall not include any disqualified offshore wind facility (as defined in section 45Y(b)(1)(E)(ii)). . (e) Effective date The amendment made by this section shall apply to energy produced and property placed in service after December 31, 2025.