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Ending Tax Credits for Offshore Wind in US Inland and Coastal Waters

This bill aims to eliminate tax credits for new offshore wind facilities located in U.S. inland navigable waters or coastal waters. This means that companies building such facilities after December 31, 2025, will no longer receive production or investment tax credits, potentially impacting energy costs and the development of wind projects in these areas.
Key points
Offshore wind facilities in U.S. inland and coastal waters will lose tax credits after 2025.
Both production tax credits and investment tax credits are affected.
This change may influence the profitability and pace of new wind farm construction in these locations.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_2187
Sponsor: Rep. Fallon, Pat [R-TX-4]
Process start date: 2025-03-18
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

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.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2187.

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 2025-03-18.

What are the main provisions?

Key points include:

  • Offshore wind facilities in U.S. inland and coastal waters will lose tax credits after 2025.
  • Both production tax credits and investment tax credits are affected.
  • This change may influence the profitability and pace of new wind farm construction in these locations.
What is the specific legal status?

The current status is Introduced.

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. Fallon, Pat [R-TX-4].

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 2025-12-22.

CATEGORIES

Taxes Environment Economy