Tax Energy & Utilities

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Alberta's Bill 20: Climate Leadership Implementation Act

The Alberta Government introduced Bill 20, the Climate Leadership Implementation Act, on May 24, 2016. The Bill proposes a carbon levy on fuel consumption and marks the Government’s first step towards executing Alberta’s...more

Alberta Announces Bill 20 – The Climate Leadership Implementation Act

On May 24, 2016 the Alberta government introduced Bill 20 – Climate Leadership Implementation Act (the CLIA). The CLIA establishes the legislative framework for Alberta's new carbon tax (referred to in the CLIA as the carbon...more

New Treasury Guidance Significantly Expands Field of Renewable Energy Projects That May Qualify for the PTC or ITC

On May 5, the U.S. Treasury Department released Notice 2016-31 to address certain changes made to the Production Tax Credit (“PTC”) and Investment Tax Credit (“ITC”) in the Protecting Americans from Tax Hikes (“PATH”) Act of...more

Legislative Update

House Passes Budget: This week was budget week at the General Assembly with the House passing a $22.22 billion budget by week’s end. The budget drew more bipartisan support than any other budget since the Republicans...more

IRS Revises Recent Begin Construction Guidance

On May 18, 2016, the Internal Revenue Service (IRS) revised Notice 2016-31 (Notice), its recent guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass,...more

Renewable Energy Tax Credits: Recent IRS Notice Favorable to the Renewable Energy Industry

On May 5, 2016, the IRS released new guidance regarding the renewable energy production tax credit (“PTC”) and energy investment tax credit (“ITC”) which most in the renewable energy industry will find favorable....more

Renewable Energy Tax Credits: Recent IRS Notice Favorable to the Renewable Energy Industry

On May 5, 2016, the IRS released new guidance regarding the renewable energy production tax credit (“PTC”) and energy investment tax credit (“ITC”) which most in the renewable energy industry will find favorable. ...more

IRS Modifies Continuity Requirement and Clarifies Other Guidance for Production Tax Credit Eligibility

On May 5, 2016, the IRS released Notice 2016-31 to update and clarify prior IRS guidance concerning satisfaction of the “begun construction” requirement for production tax credit (“PTC”) eligibility under recently extended...more

Doing business inside the UAE’s freezones

If you are considering establishing a business in the UAE, you would be wise to spend time investigating the various idiosyncrasies of the local market. One of the first decisions you will arrive at is where to base your...more

New Production Tax Credit “Beginning of Construction” Advice From the IRS

The IRS recently issued Notice 2016-31, providing further guidance regarding the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code and the investment tax...more

California Environmental Law & Policy Update - May 2016 #2

Environmental and Policy Focus - Some emergency drought rules might be eased - Los Angeles Times - May 9 - Governor Jerry Brown and the State Water Resources Control Board (SWRCB) on Monday laid out a revised...more

IRS Issues Guidance on Beginning of Construction Rules for Renewable Projects

On May 5, 2016, the Internal Revenue Service (IRS) issued Notice 2016-31, providing guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass, geothermal,...more

Energy Tax Law Alert: IRS Rules That Payment for Intertie Constitutes Taxable Contribution in Aid of Construction

The IRS has issued a private letter ruling concluding that the reimbursement by a solar electric generator of an electric distribution company’s costs to construct an intertie is a contribution in aid of construction under...more

IRS Issues Additional Guidance on “Begun Construction” Requirement for Wind Energy Credits

Latest guidance extends “continuity safe harbor” to four years and includes other taxpayer-friendly modifications and clarifications to existing guidance. On May 5, 2016, the Internal Revenue Service (IRS) issued...more

"IRS Guidance Clarifies 'Begun Construction' Standard for Renewable Electricity Production Credit Property"

The Internal Revenue Service (IRS) has released welcome new guidance with respect to renewable electricity production and energy investment tax credits. A notice issued on May 5, 2016, reflects changes to the production tax...more

Key Developments in The Photovoltaic Sector in Italy

In Depth - In 2015, solar photovoltaic (PV) systems in Italy generated 24,676 GWh of electricity, representing 9.1 per cent of Italy’s domestic electricity production and 7.8 per cent of the country’s overall...more

After Extension, IRS Clarifies "Begun Construction" Guidance for PTCs

Following last year's extension of the investment tax credit for qualifying projects for which construction begins prior to January 1, 2020, and of the production tax credit (PTC) with respect to certain facilities the...more

IRS Issues New Notice Extending Beginning of Construction Safe Harbor

On May 5, 2016, the IRS issued Notice 2016-31 (the “Notice”) which revises previous guidance on satisfying the “beginning of construction” test in order to take advantage of the section 45 renewable electricity production tax...more

Energy Tax Law Alert: IRS Updates "Beginning of Construction" Guidance

The IRS has issued highly anticipated guidance updating the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code (the Code) and the investment tax credit...more

IRS Updates Beginning of Construction Guidance for Renewable Energy Tax Credits Extended by PATH Act

On May 5, 2016, the Internal Revenue Service (IRS) issued Notice 2016-31, which updates prior guidance regarding the beginning of construction requirement for IRC sections 45 and 48 renewable energy tax credits following...more

2015-16 New York State Budget

On April 13, 2016, Governor Andrew M. Cuomo signed the 2016-17 New York State Budget into law. We summarize the highlights of the revenue provisions below....more

Lower Fuel Prices Take a Toll on California’s Transportation Funding

Lower gas prices and decreased revenue from California’s Price Based Excise Tax (PBET) on gasoline are taking their toll on the state’s transportation funding. California Transportation Commission (CTC) staff recently...more

Climate change Regulation Starts to Take Shape in Washington State

In 2015, the Washington Legislature failed to act on Governor Jay Inslee’s cap-and-trade proposal to limit the greenhouse gas emissions that cause climate change. Since then, all branches of Washington State government, as...more

Court of Appeal Turns a Careful Eye Toward Challenges to California’s Cap-and-Trade Auction System

A California Court of Appeal signaled it is moving closer to making what could be a far-reaching decision in the consolidated cases of California Chamber of Commerce v. California Air Resources Board (Case No. C075930) and...more

Can Solar Reboot Your Coal-Fired Plant Site?

The future of coal-fired plants is not bright. With regulations weighing on them, many plant operators are powering down and asking themselves what’s next for their sites. Solar offers viable options for reusing a plant site....more

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