Section 1 Short title
This Act may be cited as the “Lakes Before Turbines Act”.
Lakes Before Turbines Act
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.
Sec. 2 ITC for certain offshore wind facilities prohibited after 2022
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”.
Effective date— The amendment made by this section shall apply to taxable years beginning after December 31, 2022.