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.

HR 1462 removes tax credits for offshore wind facilities located in the inland navigable waters or coastal waters of the United States. Specifically, it disallows the investment tax credit (Section 48) and production tax credits (Sections 45 and 45Y) for such facilities placed in service after December 31, 2025. This policy change directly affects developers building wind projects in these specific waterways, as they will no longer qualify for federal tax incentives. The bill modifies existing tax code provisions without altering the broader eligibility for offshore wind projects in open ocean waters.