Tax Energy & Utilities

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Bill To Extend Biodiesel Tax Credit Introduced In The House of Representatives

On September 12, 2016, the Biodiesel and Renewable Diesel Incentive Extension Act of 2016 (H.R. 5994) was introduced to the House of Representatives and referred to the House Committee on Ways and Means. The bill was...more

Texas Tax Ruling Favors Frac Trailer Owners

If you were able to keep your frac trailers from the clutches of your avaricious creditors during the past several unpleasant years, you could be in luck. Owners and lessors of frac trailers may be entitled to a refund for...more

Law on the transition to a green economy presented in Kazakhstan

On 1 July 2016, the Law of the Republic of Kazakhstan On Amendments and Additions to Some Legislative Acts of the Republic of Kazakhstan on the transition of the Republic of Kazakhstan to a “green economy” (hereinafter –...more

EDGE Advisory: Focus on Corporate Renewables

Corporate renewable energy purchasing is one of the hottest topics in clean energy. Plummeting prices for wind and solar, an opportunity to reduce exposure to energy price volatility and requirements under voluntary climate...more

The Unwind: ‘I Don’t Want It’

In the inaugural column of ‘‘Power and Taxes,’’ we discussed the tensions surrounding the requirement that an investor be an owner when a project is placed in service in order to qualify for the investment tax credit under...more

Global Tax News: Hard times in the oil patch: tax implications for investors in the era of price fluctuations

The current decline in oil prices, which continues to show no signs of a long-term reversal, is having a great many unexpected and unwanted consequences, many of which may turn into long-lasting troubles for the oil and gas...more

Final Regulations Define “Real Property” for REITs: Considerations for Renewable Energy and Transmission Assets

The recently released final regulations are generally consistent with the 2014 proposed regulations in their treatment of renewable energy and transmission assets, with several useful clarifications provided. ...more

CaliforniaFirst PACE Program Finances Clean Energy Projects for Commercial Property

Property assessed clean energy (PACE) programs are an innovative mechanism for financing energy efficiency and renewable energy improvements on private property. They also present a number of challenges to investors—for one,...more

Alabama Legislature Signals Reexamination of Tax Incentives and Exemptions: State and Local Tax Alert: Alabama Edition

Following a contentious special session in which multiple proposals for a state-wide lottery were debated then abandoned, the Alabama Legislature adjourned on September 7 after approving an approximate $640 million bond issue...more

Brazil Backtracks From Plan To Increase Ethanol Use Through Tax Breaks

On August 24, 2016, Brazil's government announced that it would not be extending a tax break on ethanol sales that is due to expire in December 2016. During the 2015 Paris Climate Accord, Brazil pledged to increase cane-based...more

Outlook for Fall & Lame Duck

As summer ends and we look ahead to cooler weather, a historic presidential election, and a legislative and regulatory calendar that has numerous measures ready for activity, ML Strategies is pleased to share our outlook on...more

Solar Industry Update: Clearing the Path for More Solar in the Sunshine State

In yesterday’s primary election, Florida voters approved Amendment 4, granting the Florida Legislature’s request for authority to exempt the value of solar improvements from commercial property taxes....more

Renewable Energy Group News: A New Approach to Solar Net Metering

Since 2004, more than 20,000 Connecticut homes have added solar panels, creating the equivalent of a 154-megawatt power plant spread across the entire state. This $696 million investment has not happened by accident....more

Solar Industry Update:  What’s on the Back of My Ballot? What Amendment 4 Is All About

If you vote by mail, then you’ve likely already received your August 30 primary ballot with a proposed amendment to the Florida constitution on the back. It is Amendment 4, and it is the only amendment on the primary ballot....more

Tax Law Hampering Airport Improvements, Government Accountability Office Finds

Since 1970, the federal Airport and Airway Trust Fund (referred to as the Aviation Trust Fund) has been an important source of finance for airport improvements. But the fund has dwindled thanks to a 2006 law, passed to quell...more

FY 2017 Sequestration Reduction Percentage for Direct Pay Tax Credit Bonds Set at 6.9 Percent

According to an update released by The IRS Office of Tax Exempt Bonds (TEB), the sequester reduction percentage applied to the payments made to issuers of direct pay bonds in FY 2017 will be 6.9 percent. This percentage will...more

China kicks off Resource Tax Reform

Enterprises that extract taxable natural resources within the territory of China are liable to pay Resource Tax. Recently, China’s State Administration of Taxation (SAT) and Ministry of Finance (MOF) announced the...more

IRS Issues Proposed Rules on Income Inclusion under Section 50(d)(5)

The IRS just published long-awaited temporary regulations under section 1.50-1T governing the section 50(d)(5) income inclusion rules. These rules apply to lessees of investment credit property when the lessor elects to treat...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Maine Sees Higher Budget Surplus Than Expected - On June 30, 2016, Maine’s fiscal year ended...more

IRS Releases Temporary and Proposed Regulations Under IRC Section 50(d)(5)

On July 21, 2016, the IRS released temporary regulations section 1.50-1T under IRC Section 50(d)(5) of the Internal Revenue Code (the "Temporary Regulations") (TD 9776) that provide guidance regarding: (1) the income...more

DC Circuit Ruling Threatens to Topple FERC Tax Allowance Policy

Court rules that FERC policy permitting a tax allowance for pass-through entities may unjustifiably permit “double-recovery” of tax expense. On July 1, the US Court of Appeals for the District of Columbia Circuit issued...more

Sales Tax Exemption for Manufacturing Held Inapplicable for Oil and Gas Equipment, but Questions Remain

Southwest Royalties, Inc. v. Hegar, No. 14-0743 (Tex. June 17, 2016)(“Southwest”), addresses the applicability of a sales tax exemption for property sold for use in manufacturing in the context of oil and gas production....more

Hawaii Governor Signs Renewable Fuels Production Tax Credit

On July 6, 2016, Hawaii Governor David Ige signed SB 2652 Related to Taxation -- Locally Produced Renewable Energy. This bill establishes a five-year renewable fuels production tax credit. The tax credit will take effect in...more

Significant developments in Canadian carbon legislation and policy

On June 6, 2016, Alberta passed the Climate Leadership Implementation Act, creating a carbon levy on fuel consumption. This legislation marks the provincial government’s first step towards executing its Climate Leadership...more

Renewable Energy Update - July 2016

Renewable Energy Focus - Senator Heinrich to introduce energy storage tax credit bill - Greentech Media - Jul 5 - There will soon be an energy storage tax credit proposal in both the House and Senate. Senator...more

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