Bill Summary
The "Lakes Before Turbines Act" is a legislative proposal aimed at amending the Internal Revenue Code of 1986 to eliminate the investment tax credit (ITC) for offshore wind facilities located in the inland navigable waters of the United States, specifically excluding the Great Lakes. The bill specifies that the prohibition on the ITC for these facilities will take effect for taxable years beginning after December 31, 2022. Essentially, this legislation seeks to limit financial incentives for offshore wind projects in inland waters, except for those situated in the Great Lakes.
Possible Impacts
The proposed legislation, known as the "Lakes Before Turbines Act," aims to end the investment tax credit (ITC) for offshore wind facilities in the inland navigable waters of the United States, specifically excluding the Great Lakes. Here are three examples of how this legislation could affect people:
1. **Economic Impact on Renewable Energy Development**: By removing the investment tax credit for offshore wind facilities in inland navigable waters (except for the Great Lakes), the bill may deter investment in renewable energy projects in those areas. This could lead to fewer job opportunities in the clean energy sector, impacting local economies that could benefit from wind energy development, manufacturing, and maintenance jobs.
2. **Environmental Consequences**: The reduction in investment for offshore wind facilities could slow the transition to renewable energy sources, which are essential for combating climate change. This might lead to continued reliance on fossil fuels, affecting air and water quality, and ultimately impacting the health of communities living near these energy sources.
3. **Recreational and Tourism Effects**: The Great Lakes are a significant recreational resource, and the legislation could lead to increased focus on developing other energy sources in inland navigable waters, which may disrupt local ecosystems. This disruption could affect recreational activities like boating, fishing, and tourism, which are vital for the livelihoods of people in regions surrounding these waters.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2133 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 2133
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.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 14, 2025
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.
<all>