HR1462-119

1. Disallowance of investment tax credit and clean electricity production credit for certain offshore wind facilities Section 48(a)(5) of the Internal Revenue Code of 1986 is amended by striking subparagraph (F). 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. Section 45Y(b)(1) of such Code is amended by adding at the end the following new subparagraph: The term qualified facility shall not include any 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. The amendment made by this section shall apply to energy produced and property placed in service after December 31, 2025. (E)Certain offshore wind facilities not treated as qualified facilities (i)In generalThe term qualified facility shall not include any disqualified offshore wind facility. (ii)Disqualified offshore wind facilityFor 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..