118 HR 426 IH: Lakes Before Turbines Act U.S. House of Representatives 2023-01-20 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS1st SessionH. R. 426IN THE HOUSE OF REPRESENTATIVESJanuary 20, 2023Mr. Langworthy introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo 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.

1.

Short title

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

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.