Bill > HR2187

This bill aims to remove tax credits for offshore wind facilities located in inland navigable waters and coastal waters of the United States. Specifically, the bill eliminates the Investment Tax Credit (ITC), the Renewable Resources Production Tax Credit, the Clean Electricity Production Tax Credit, and the Clean Electricity Investment Tax Credit for wind facilities situated in these designated water areas. By amending several sections of the Internal Revenue Code of 1986, the bill creates a new definition of a "disqualified offshore wind facility" that includes any wind energy project located in inland navigable or coastal waters. These changes would take effect for energy produced and property placed in service after December 31, 2025, which means wind facilities in these water zones would no longer be eligible for previously available tax incentives designed to encourage renewable energy development. The bill effectively targets and removes financial support for offshore wind projects in specific U.S. maritime regions, potentially impacting the economic feasibility of such renewable energy installations.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2187/all-info