arrow_back Back to App

Ending Tax Credits for Inland Offshore Wind Facilities

This bill aims to stop investment tax credits for offshore wind facilities located in the inland navigable waters of the United States, excluding the Great Lakes. This means companies building such wind farms will no longer receive financial support through tax credits, potentially impacting energy costs and project development in these areas.
Key points
Investment tax credits for offshore wind facilities in inland navigable waters (excluding the Great Lakes) will be terminated.
These changes apply to tax years beginning after December 31, 2021.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_7584
Sponsor: Rep. Jacobs, Chris [R-NY-27]
Process start date: 2022-04-26
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

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.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7584.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-04-26.

What are the main provisions?

Key points include:

  • Investment tax credits for offshore wind facilities in inland navigable waters (excluding the Great Lakes) will be terminated.
  • These changes apply to tax years beginning after December 31, 2021.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Jacobs, Chris [R-NY-27].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Environment Economy