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Production Tax Credit Extended for Renewable Projects Beginning Construction in 2014

On December 19, 2014, President Obama signed into law the Tax Increase Prevention Act of 2014 (H.R. 5771). H.R. 5771 includes a retroactive one-year extension of the section 45 renewable electricity production tax credit...more

Court Holds Transfer of Electric Utility Revenues to City's General Fund Through Annual Budget Approval is a Tax under Prop. 26

Payment in Lieu of Taxes Increased After the Adoption of Proposition 26 is not Grandfathered-In - A city’s annual budget transfer from its electric utility to its general fund, referred to as a payment in lieu of taxes...more

Governor Inslee Proposes $1.5 Billion of New Revenue, Including a 7 Percent Personal Tax on Capital Gains

Washington Governor Jay Inslee recently released his proposed budget for 2015-17, which includes approximately $1.5 billion of new and increased taxes the Governor is marketing as “improving Washington’s unfair and outdated...more

IRS Releases Guidance on Performance and Quality Standards for Small Wind Energy Property

The IRS recently released Notice 2015-4 (the Notice), which provides performance and quality standards that small wind energy property (defined under section 48(c)(4) of the Code as property utilizing a “qualifying small wind...more

IRS Specifies Performance and Quality Standards for Small Wind Turbines

On January 13, the Internal Revenue Service (IRS) released Notice 2015-4 which specifies the performance and quality standards that small wind turbines must meet in order to qualify for the 30 percent investment tax credit...more

Under the Dome: Inside the Maine State House

Governor’s Budget Proposal Released - On January 9th, Governor LePage submitted his biennial budget proposal to the 127th Maine Legislature. This document is the blueprint for state taxing and spending over the next...more

ExxonMobil Decision by ICSID: A win for ExxonMobil or Venezuela?

On 9 October 2014, an International Centre for Settlement of Investment Disputes (ICSID) tribunal comprised of H. E. Judge Gilbert Guillaume (President), Professor Gabrielle Kaufmann-Kohler and Dr. Ahmed Sadek El-Kosheri...more

Are You Complying? New 2015 Laws Affecting Public Agencies

Community leaders need to be attentive to the new laws that will take effect in 2015 that deal with issues specifically relating to cities, special districts and other public agencies. These new laws cover everything from...more

California Energy Legislation Year in Review 2014

INTRODUCTION - In his January 2015 inaugural address, California Governor Brown called for an ambitious expansion of the State’s renewable energy goals to 50% by 2030, a policy direction that may drive the State’s...more

ML Strategies Energy and Environment Update: Week of 1/13/2015

ENERGY AND CLIMATE DEBATE - The 114th Congress and the final two years of the Obama Administration include a full energy and environment agenda....more

Senate Passes Tax Extender Legislation

On December 16, 2014, the Senate followed the House of Representatives and passed tax extender legislation that is expected to be signed by the President. The final package that passed would retroactively extend incentives...more

Electricity Transmission and Distribution Equipment Ineligible for Georgia Sales Tax Manufacturing Exemption

The Georgia Tax Tribunal has held that an electric utility’s transmission and distribution equipment was not “necessary and integral to the manufacture of tangible personal property” and thus did not qualify for an exemption...more

Tennessee Tax Year in Review

Bradley Arant Boult Cummings LLP’s State and Local Tax Team would like to share our year-end review—revisiting some interesting Tennessee tax developments for 2014 and announcing our annual “Tennessee Tax Issue of the Year.”...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. Committee Assignments Announced - On December 23rd, the President of the Senate, Mike Thibodeau, and the...more

Energy & Environment Update - December 2014 #3

In This Issue: - Energy and Climate Debate - Congress - Administration - Department of Commerce - Department of Energy - Department of Interior - Environmental Protection...more

ML Strategies Energy and Environment Update: Week of 12/22/2014

ENERGY AND CLIMATE DEBATE - The 113th Congress adjourned sine die last week, and efforts are underway to prepare for an eventful 114th Congress and final two years of the Obama Administration....more

Sol-Wind’s IPO Compared to YieldCos & Structures of Other MLPs

Yesterday, Sol-Wind filed its S-1 with the Securities & Exchange Commission for its listing on the NYSE. Its ticker symbol will be SLWD. Here is a link to my structure diagrams for Sol-Wind and comparisons of it to a...more

U.S. Department of Commerce Announces Final Tariffs on Chinese and Taiwanese Solar Products

On December 17, 2014, the U.S. Department of Commerce (DOC) announced its final determinations in the antidumping duty (AD) and countervailing duty (CVD) investigations of crystalline silicon photovoltaic products (“solar...more

Congress Approves Tax Extension Bill

TWO WEEKS ONLY! SAVE NOW! Congress has finally approved the extenders bill in what is widely viewed as terrible tax policy, but a welcome holiday gift nonetheless. The Tax Increase Prevention Act of 2014 extended a...more

Energy Tax Alert: Congress Extends Biofuel Incentives

Congress this week passed the Tax Increase Prevention Act of 2014, which extends a number of expired or expiring tax provisions through the end of 2014. The President is expected to sign the Act soon. The Act extends a number...more

Tax Extenders Signed into Law; Production Tax Credit Extended for Facilities Beginning Construction in 2014

Earlier today, President Obama signed the Tax Increase Prevention Act of 2014 (H.R. 5771) into law, following its passage through Congress on Tuesday. Among other things, the act will provide a one-year retroactive extension...more

Congress Passes One-Year Extension of Business and Individual Tax Provisions

On December 16, 2014, the Senate voted 76-16 to pass H.R. 5771, the Tax Increase Prevention Act of 2014 (“TIPA”), which was passed by the House by a vote of 378-46 on December 3, 2014. TIPA would extend over fifty (50)...more

Energy Tax Alert: Congress Extends Renewable Energy Credits

Congress this week passed the Tax Increase Prevention Act of 2014, which extends a number of expired or expiring tax provisions through the end of 2014. The President is expected to sign the Act soon. The Act renews several...more

Senate Approves Energy Tax Extenders

On Tuesday, December 16, 2014, the U.S. Senate passed the tax extenders bill by a vote of 76-16, extending a number of energy tax incentives through the end of the year. The Senate’s passage of H.R. 5771 followed the U.S....more

Senate passes Tax Extender Package at 11th hour

The Senate passed the “Tax Increase Prevention Act of 2014? (H.R. 5771) on Tuesday night just before Congress adjourned for 2014. As Molly Bryson described in her December 5, 2014 post following the House’s passage of the...more

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