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.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill amends the Internal Revenue Code to prohibit the investment tax credit (ITC) for offshore wind facilities located in the Great Lakes after December 31, 2022. It relies on tax credits and exemptions. The main policy areas are Energy, Agriculture, Finance, and Trade.
Who Benefits and How
Fossil fuel electricity generators in Great Lakes region could gain revenue opportunities, Great Lakes waterfront property owners could face reduced risk, and Great Lakes commercial fishing industry could face reduced risk.
Who Bears the Burden and How
Offshore wind energy developers planning projects in the Great Lakes could lose revenue opportunities, Great Lakes states pursuing renewable energy goals (MI, WI, IL, IN, OH, PA, MN, NY) could face higher barriers, and Wind turbine manufacturers and suppliers serving Great Lakes market could lose revenue opportunities.
Key Provisions
- Amends the Internal Revenue Code to prohibit the investment tax credit (ITC) for offshore wind facilities located in the Great Lakes after December 31, 2022.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill amends the Internal Revenue Code to prohibit the investment tax credit (ITC) for offshore wind facilities located in the Great Lakes after December 31, 2022.
Key Policy Areas
Energy, Agriculture, Finance, Trade
Primary Purpose
The bill amends the Internal Revenue Code to prohibit the investment tax credit (ITC) for offshore wind facilities located in the Great Lakes after December 31, 2022.
Policy Domains
Full Bill - Tax Code Amendment
Identified Gains
- Fossil fuel electricity generators in Great Lakes region
- Great Lakes waterfront property owners
- Great Lakes commercial fishing industry
Identified Costs
- Offshore wind energy developers planning projects in the Great Lakes
- Great Lakes states pursuing renewable energy goals (MI, WI, IL, IN, OH, PA, MN, NY)
- Wind turbine manufacturers and suppliers serving Great Lakes market
Legislative Progress
IntroducedMr. Langworthy introduced the following bill; which was referred to …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Offshore wind energy developers planning projects in the Great Lakes, Wind turbine manufacturers and suppliers serving Great Lakes market
Great Lakes states pursuing renewable energy goals (MI, WI, IL, IN, OH, PA, MN, NY)
Fossil fuel electricity generators in Great Lakes region
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
Key Definitions
Terms defined in this bill
The provision amends the existing definition to explicitly exclude the Great Lakes from eligible locations for the offshore wind ITC
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology