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New York State Passes Budget that Continues Tax Incentives for Solar Installations

Last week, New York State enacted a budget for the fiscal year 2015-16 (i.e., April 1, 2015 to Mar. 31, 2016) that continues two tax incentives for the installation of solar energy systems: (1) tax credits...more

Renewable Structures: Choices and Challenges

Since the first wind deal utilizing a partnership in 2003 (also known as a “partnership flip,” a “pre-tax after-tax partnership,” or a “wind safe harbor partnership structure”), there has been a constant evolution of...more

UK 2015 Budget – Changes to the North Sea Tax Regime

In a move designed to breathe life into the United Kingdom’s North Sea oil and gas industry, the United Kingdom’s Chancellor of the Exchequer has announced a suite of tax cuts as part of the 2015 Budget. The cuts are a...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. Supplemental Budget Bill Approved, On Governor's Desk - On Tuesday lawmakers approved a...more

U.S. Renewable Energy Financing And Regulatory Outlook 2015

Orrick and Clean Energy Pipeline have launched a series of reports dedicated to exploring investment opportunities and challenges in the global renewable energy sector. In the first issue, we analyzed the investment...more

UK budget 2015

Earlier today the UK government delivered its last budget before the UK general election in May. Many of the measures were, as one might expect so close to an election, focused on personal rather than corporate taxation....more

Washington Update: Part II - FY 2016 Federal Budget: What You Need to Know

Both the House and Senate Budget Committees last week introduced and marked up initial drafts of their respective budget resolutions for fiscal year 2016. Each year Congress decides - or is supposed to decide - how much to...more

Ship on course but choppy waters abound! UK Budget 2015: 10 key measures impacting business

Before the Budget was announced, there was natural apprehension that, given the impending general election, the Chancellor would pander to the electorate and sail off course from this Government’s carefully navigated path...more

Are You Continuing Construction? IRS Issues Fourth Renewable Energy Tax Credit Beginning of Construction Notice

On March 11, 2015, the Internal Revenue Service (IRS) issued Notice 2015-25, which provides further guidance to assist renewable energy facility developers and investors in evaluating whether such facilities satisfied the...more

Italy: Incentive Regimes for Renewable Energy Plants

The introduction of retrospective tariff cuts to photovoltaic (PV) plants and the abolition of the Robin Tax by the Italian Constitutional Court, combined with simplified regulation and taxation of new forms of debt...more

LNG Equipment and Buildings: Canadian Government Proposes Accelerated Writeoff

On February 19, 2015, the Canadian government released draft regulations introducing accelerated capital cost allowance (CCA) for facilities in Canada that liquefy natural gas. ...more

Welcome Tax Measures Announced at the PDAC 2015 Convention

On Sunday March 1, 2015, the Honourable Joe Oliver, Federal Minister of Finance addressed the Prospectors & Developers Association of Canada (“PDAC”) at the annual PDAC Convention in Toronto and announced certain proposals...more

Public Finance Update: New Clean Renewable Energy Bonds: IRS Notice 2015-12 Application Submission and Requirements

The Internal Revenue Service (“IRS”) recently released Notice 2015-12 (the “Notice”), which solicits applications for allocations of the approximately $1.4 billion remaining available amount of national bond volume limitation...more

Sound Bites from Infocast Wind Finance 2015

The Infocast Wind Power Finance & Investment Summit 2015 was held from February 10 to 12 in San Diego. Below are selected sound bites regarding the tax equity market and other finance related matters....more

The President’s Groundhog’s Day Budget Casts a Shadow on Some but Offers Sunshine for Others

On February 2nd, President Obama released his Fiscal Year (FY) 2016 budget request to Congress. Along with the budget, the Department of the Treasury (Treasury) released a volume called “General Explanations of the...more

Obama Administration’s FY 2016 budget would modify LIHTCs, permanently extend NMTC and energy tax credits

As in prior years, the Obama administration’s FY 2016 budget includes a number of impactful, and generally positive, tax credit proposals. With respect to the Low-Income Housing Tax Credit (LIHTC), the budget retains many of...more

"The 'Law 42' Arbitrations Against Ecuador and the Importance of BIT Language"

Bilateral Investment Treaties (BITs) afford investors a series of guarantees against expropriation or unfair treatment of investments in foreign jurisdictions. They also typically allow investors to enforce those rights...more

Court Sustains Treasury’s 2/3 Reduction of Cash Grant for Cogen Open-Loop Biomass Plant

The United States Court of Federal Claims on January 12 rendered an opinion in W.E. Partners II, LLC v. U.S. sustaining the Treasury Department’s reduction by approximately two-thirds of a Cash Grant for a cogeneration...more

"'Yieldcos' Present a New Growth Model for Renewable Energy Companies"

In the past few years, many energy companies with investments in renewable energy projects have considered forming “yieldcos,” with five formations in 2013 and 2014. A yieldco is a growth-focused public company, typically...more

NC Politics In The News

WINSTON-SALEM JOURNAL: New economic development strategy is in the works Gov. Pat McCrory said Thursday that he is working on a new economic development strategy for North Carolina, but it is too early to release details....more

The Economic Development Toolbox: "The Utility Player" - Tax Increment Financing

Tax increment financing (“TIF”) is a tool that is commonly used throughout the country to finance public infrastructure and other improvements. But while its use may appear to be fairly limited, TIF is actually extremely...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

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

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

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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