H.R. 1462 — 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.

H.R. 1462 — 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. | JustPolicyThe purpose of this legislation is to change the tax incentives available for offshore wind energy projects. Specifically, it aims to eliminate certain tax credits that currently support the development of offshore wind facilities located in the inland navigable waters and coastal waters of the United States. The key provisions of this legislation include the removal of the investment tax credit and the production tax credit for offshore wind facilities that are situated in specified U.S. waters.