| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 1462 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to disallow the production |
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| 6 | 6 | | tax credit and investment tax credit for offshore wind facilities placed |
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| 7 | 7 | | in service in the inland navigable waters of the United States or the |
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| 8 | 8 | | coastal waters of the United States. |
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| 9 | 9 | | IN THE HOUSE OF REPRESENTATIVES |
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| 10 | 10 | | FEBRUARY21, 2025 |
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| 11 | 11 | | Mr. F |
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| 12 | 12 | | ALLON(for himself and Mr. GOODEN) introduced the following bill; |
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| 13 | 13 | | which was referred to the Committee on Ways and Means |
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| 14 | 14 | | A BILL |
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| 15 | 15 | | To amend the Internal Revenue Code of 1986 to disallow |
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| 16 | 16 | | the production tax credit and investment tax credit for |
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| 17 | 17 | | offshore wind facilities placed in service in the inland |
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| 18 | 18 | | navigable waters of the United States or the coastal |
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| 19 | 19 | | waters of the United States. |
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| 20 | 20 | | Be it enacted by the Senate and House of Representa-1 |
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| 21 | 21 | | tives of the United States of America in Congress assembled, 2 |
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| 22 | 22 | | VerDate Sep 11 2014 08:26 Mar 12, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1462.IH H1462 |
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| 23 | 23 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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| 24 | 24 | | •HR 1462 IH |
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| 25 | 25 | | SECTION 1. DISALLOWANCE OF INVESTMENT TAX CREDIT 1 |
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| 26 | 26 | | AND CLEAN ELECTRICITY PRODUCTION 2 |
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| 27 | 27 | | CREDIT FOR CERTAIN OFFSHORE WIND FA-3 |
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| 28 | 28 | | CILITIES. 4 |
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| 29 | 29 | | (a) I |
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| 30 | 30 | | NVESTMENTTAXCREDIT.—Section 48(a)(5) of 5 |
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| 31 | 31 | | the Internal Revenue Code of 1986 is amended by striking 6 |
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| 32 | 32 | | subparagraph (F). 7 |
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| 33 | 33 | | (b) R |
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| 34 | 34 | | ENEWABLE RESOURCESPRODUCTION TAX 8 |
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| 35 | 35 | | C |
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| 36 | 36 | | REDIT.—Section 45(d)(1) of such Code is amended by 9 |
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| 37 | 37 | | striking the period at the end and inserting ‘‘, or any facil-10 |
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| 38 | 38 | | ity which is located in the inland navigable waters of the 11 |
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| 39 | 39 | | United States or in the coastal waters of the United 12 |
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| 40 | 40 | | States’’. 13 |
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| 41 | 41 | | (c) C |
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| 42 | 42 | | LEANELECTRICITYPRODUCTIONTAXCRED-14 |
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| 43 | 43 | | IT.—Section 45Y(b)(1) of such Code is amended by add-15 |
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| 44 | 44 | | ing at the end the following new subparagraph: 16 |
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| 45 | 45 | | ‘‘(E) C |
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| 46 | 46 | | ERTAIN OFFSHORE WIND FACILI -17 |
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| 47 | 47 | | TIES NOT TREATED AS QUALIFIED FACILI -18 |
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| 48 | 48 | | TIES.— 19 |
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| 49 | 49 | | ‘‘(i) I |
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| 50 | 50 | | N GENERAL.—The term ‘quali-20 |
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| 51 | 51 | | fied facility’ shall not include any disquali-21 |
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| 52 | 52 | | fied offshore wind facility. 22 |
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| 53 | 53 | | ‘‘(ii) D |
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| 54 | 54 | | ISQUALIFIED OFFSHORE WIND 23 |
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| 55 | 55 | | FACILITY.—For purposes of this subpara-24 |
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| 56 | 56 | | graph, the term ‘disqualified offshore wind 25 |
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| 57 | 57 | | facility’ means an offshore wind facility 26 |
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| 58 | 58 | | VerDate Sep 11 2014 08:26 Mar 12, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1462.IH H1462 |
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| 59 | 59 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 3 |
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| 60 | 60 | | •HR 1462 IH |
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| 61 | 61 | | which is located in the inland navigable 1 |
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| 62 | 62 | | waters of the United States or in the 2 |
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| 63 | 63 | | coastal waters of the United States.’’. 3 |
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| 64 | 64 | | (d) E |
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| 65 | 65 | | FFECTIVEDATE.—The amendment made by 4 |
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| 66 | 66 | | this section shall apply to energy produced and property 5 |
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| 67 | 67 | | placed in service after December 31, 2025. 6 |
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| 68 | 68 | | Æ |
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| 69 | 69 | | VerDate Sep 11 2014 08:26 Mar 12, 2025 Jkt 059200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H1462.IH H1462 |
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| 70 | 70 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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