[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 426 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 426

 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.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 20, 2023

Mr. Langworthy introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Lakes Before Turbines Act''.

SEC. 2. ITC FOR CERTAIN OFFSHORE WIND FACILITIES PROHIBITED AFTER 2022.

    (a) In General.--Section 48(a)(5)(F)(ii) of the Internal Revenue 
Code of 1986 is amended by inserting ``(other than any of the Great 
Lakes)'' after ``in the inland navigable waters of the United States''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2022.
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