Tax Environmental Commercial Real Estate

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PACE Yourself

Property Assessed Clean Energy (PACE) loans allow property owners to finance clean energy improvements to their properties generally secured by property liens senior to mortgages through tax assessments. Moody’s recently...more

Gov. Cuomo Signs Law Extending Real Property Tax Abatement for Solar Power Installation

Governor Cuomo has signed into law a bill that extends real property tax breaks for installing electricity-generating solar panels on New York City buildings effective September 23, 2014. ...more

Texas Supreme Court Rejects State’s Use of Unclaimed Property Law to Usurp Private Right to Contract

In a 5-to-4 decision, the Texas Supreme Court rebuffed the Texas attorney general’s attempt to undo a cy pres award using the state’s Unclaimed Property Act. The cy pres award was a result of a settlement between defendant...more

Recent Amendment Implements Important Changes to the Georgia Brownfield Program

Effective on July 1, House Bill 957 (2014) (the “Amendment”) amended the Georgia Brownfield Act, O.C.G.A. § 12-8-200 et seq. (the Act). The Amendment broadens applicability of the Act, expands the pool of eligible parties...more

NY Property Tax Exemption Extension for Renewable Systems

The New York legislature has passed a bill that extends a real property tax exemption for wind, solar and certain other energy systems until January 1, 2025. The bill provides that real property which includes an eligible...more

SB 871 Bumps Back Repeal of Solar Energy Exclusion by Eight Years

Solar Energy Systems Will Continue to Be Excluded from Full Cash Value of Real Property - A new law extending the exclusion of solar energy systems from affecting the full cash value of real property for taxation...more

IRS Creates Narrow Distributed Generation Wind Opportunity for REITs

The IRS has opened the door a crack for real estate investment trusts (REITs) to be the lessors of wind projects. To qualify as a REIT, a corporation must satisfy a series of complicated tests that require the...more

Client Alert: Colorado Bill S.B. 73 Establishes Income Tax Credit for Cleanup of Contaminated Brownfield Sites

As a lawyer in Colorado focusing a large part of my practice on environmental due diligence including Brownfield sites, I had the great pleasure of participating in the drafting of Senate Bill 73, which was signed into law by...more

Brownfield Legislation Passes 2014 Florida Legislative Session, Expanding Range of Redevelopment Tools

The Florida Legislature passed new Brownfield legislation in the 2014 legislative session that concluded in May 2014. The bill will be sent to Governor Rick Scott. If enacted into law, the legislation will expand the range of...more

Treasury Proposes REIT Solar Regulations but Excludes Most Common Transactions

On the same day as President Obama’s speech championing solar, the Department of the Treasury proposed regulations defining “real estate assets” for purposes of the definition of a real estate investment trust (REIT). The...more

Proposed IRS Regulations Would Qualify PV Modules as Real Property under REIT Rules in Certain Circumstances

On May 9, 2014, the Internal Revenue Service (IRS) issued proposed regulations that clarify the definition of real property for purposes of the real estate investment trust (REIT) provisions of the Internal Revenue Code....more

FBA Announces Coalition To Lobby Florida Legislature To Reduce VCTC Program Backlog

The Florida Brownfields Association (“FBA”) announced the formation of a coalition to encourage the Florida Legislature to clear out the backlog of existing Voluntary Cleanup Tax Credits. If FBA and its partners are...more

IRS Guidance for Historic Tax Credit Transactions: Partnership Flips and Inverted Leases

The IRS released Revenue Procedure 2014-12 on December 30. It is available below. It addresses the structuring of historic tax credit transactions (i.e., transactions involving rehabilitation tax credits provided for in...more

PA Tax Law News: December 2013 -- Assessment Of Environmentally Contaminated Real Estate

The Pennsylvania Commonwealth Court’s recent decision in Harley-Davidson Motor Company v. York County Board of Assessment Appeals (Pa. Cmwlth. Ct. decided on October 30, 2013), demonstrates the importance of establishing a...more

Economically Depressed Contaminated Properties Are Prime Candidates for Significant Real Property Tax Relief

While New Jersey is known as the Garden State, it is also regrettably fertile ground for contaminated properties as a result of its long history of industrial development. With over 20,000 contaminated sites, New Jersey is...more

Real Estate Legal News - October 2013 • Volume 4, Number 1

In This Issue: - KEEP IT CLEAN: EPA ENDORSES NEW ASTM STANDARD FOR CONDUCTING ESAS: The United States Environmental Protection Agency (EPA) recently proposed a rule to recognize the updated standard of the...more

Passing the Buck: The Impact of Maryland's New Stormwater Fees on Commercial Leases

During its 2012 legislative session, the Maryland General Assembly passed HB 987, a bill which required that the ten separate EPA-licensed storm sewer system (“MS4”) jurisdictions in Maryland (Baltimore City and nine...more

Illinois Supreme Court to Debate Appeals from a Pollution Control Facility Certification Order

Tomorrow morning in Chicago, the Illinois Supreme Court will hear oral argument in The Board of Education of Roxana Community Unit School District No. 1 v. The Pollution Control Board, which presents an important question of...more

California Supreme Court Update: Air Quality Emissions Reduction Credits May Be Considered in Assessing Unit Value of Power Plant,...

A power plant operator was required to purchase emission reduction credits (“ERCs”) to comply with the permitting process to build a power plant. Over the course of several years, the State Board of Equalization (“Board”)...more

New York Supports Solar with Expanded Net Metering & Sales Tax Exemptions

In July, the New York Public Service Commission increased the solar net metering limits for businesses and residences....more

Florida's Brownfields Program Shows Record Participation, Provides Key Incentives for Cleanup & Redevelopment

The Florida Department of Environmental Protection (FDEP) released its annual Brownfield report this month, reporting record levels of participation in Florida's Brownfield program. Brownfields are sites with actual or...more

Spotlight On Belgium: Trends in the Legal Landscape - Issue 2, 2013

We are delighted to present you the second edition of Spotlight on Belgium, DLA Piper Belgium’s quarterly newsletter which aims to inform you about current legal developments that could affect your business. As the...more

Overriding Interest - Spring 2013

In this issue: - The Green Deal - Impact on Commercial Real Estate - High Value Residential Property Tax - Announcements and Events - Transaction Profile - Focus on Henderson Global Investors...more

“Fiscal Cliff” Bill Reinstates and Extends Business and Personal Tax Credits for Energy Efficient Residential Properties

On January 1, 2013, the U.S. Congress passed last minute legislation known as the American Taxpayer Relief Act of 2012 to avoid automatic increases in income taxes for millions of Americans, as well as draconian cuts to the...more

IRS Revokes Ruling Finding Facility-Specific Power Purchase Agreements Are Part of the Facility

The Internal Revenue Service (IRS) recently revoked Private Letter Ruling (PLR) 201214007, which found that facility-specific power purchase agreements (PPAs) are considered part of the underlying wind energy facilities and,...more

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