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.

# HR 1462 Summary **What the bill would do:** This bill would remove federal tax credits for offshore wind energy projects built in U.S. waters. Currently, wind energy companies can claim tax credits that reduce their federal tax liability—a production tax credit (for electricity generated) and an investment tax credit (for building costs). This bill would eliminate those credits specifically for offshore wind facilities in inland waterways and coastal waters, making these projects less financially attractive to developers. **Who it affects:** The bill primarily targets wind energy companies considering offshore wind projects and would reduce their financial incentives to build in U.S. waters.

Consumers in coastal regions could be affected if projects are delayed or canceled. The bill is sponsored by Rep. Pat Fallon (R-TX), suggesting support from some lawmakers concerned about offshore wind development. **Current status:** The bill is currently in committee, meaning it has not yet been voted on by the full House. It remains in the early stages of the legislative process and has not advanced to a floor vote. Many bills at this stage do not pass into law.