News & Analysis as of

PTC Extension Added to Tax Extenders

A modified extenders package was released today that includes a two-year extension of the renewable energy production tax credit (PTC) under section 45 of the Internal Revenue Code as well as an extension of the option to...more

Senate Finance Committee Tax Reform Proposal Streamlines Energy Tax Credits

On December 18, 2013, Senate Finance Committee Chairman Max Baucus (D-MT) released a proposal that would streamline energy tax incentives to make them more predictable and technology neutral. The proposal would consolidate...more

Baucus Proposes Reforms to Energy Tax Incentives

Senate Finance Committee Chairman Max Baucus (D-MT) released a proposal on December 18 that would streamline energy tax incentives to make them more predictable and technology-neutral. The proposal consolidates several...more

Baucus Post-2016 Proposal: No Change to PTC & ITC Reduced to 20 Percent

Today, the chairman of the Senate Finance Committee, Max Baucus (D-MT), released his proposal for energy tax incentives as part of overall tax reform. The proposal is thoughtful and merits serious consideration by the...more

IRS Clarifies Guidance for Determining When Construction Has Begun for the Production Tax Credit and Investment Tax Credit

On September 20, 2013, the IRS released Notice 2013-60 (the “Notice”), clarifying the requirements that must be satisfied in order for certain renewable energy facilities to qualify for the Production Tax Credit (“PTC”) and...more

New Beginning Construction Guidance Notice 2013-60

Earlier this year, the Internal Revenue Service (the “IRS”) published Notice 2013-29, providing guidance on what it means to “begin construction” for purposes of the recent extension of the 2.3 cent-per-kilowatt-hour...more

IRS Issues Additional Guidance on When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

The Internal Revenue Service (IRS) has issued additional guidance relating to when construction begins with respect to wind and other qualified facilities for purposes of the production tax credit and investment tax credit. ...more

Energy Law Alert: IRS Releases Notice 2013-60 With Additional Guidance For PTC/ITC Qualification

Late in the day on September 24, the IRS released a formal Notice addressing the Begun Construction requirements to qualify for the Production Tax Credit and Investment Tax Credit. Notice 2013-60 clarifies an earlier Notice...more

Additional IRS Guidance on “Beginning of Construction” for ATRA 2012 Tax Credit Extensions

The IRS has released additional guidance (IRS Notice 2013-60) on satisfying the new “beginning of construction” requirement for the renewable energy production tax credit under Code Section 45 (PTC) and energy investment tax...more

IRS Clarifies Guidance on Beginning Construction of a Qualified Energy Facility for Production Tax Credit and Investment Tax...

A qualified facility is eligible to receive a renewable electricity production tax credit (PTC) or an energy investment tax credit (ITC) in lieu of the PTC if construction of the facility begins before January 1, 2014....more

IRS Notice 2013-60 Clarifies Rules on Beginning of Construction

On September 20, 2013, the U.S. Department of the Treasury (“Treasury”) released Notice 2013-60, which clarifies in important ways the eligibility rules applicable to the investment tax credit (“ITC”) and production tax...more

IRS Issues Notice Clarifying Earlier Guidance on "Beginning of Construction" Requirement for PTC and ITC Purposes

On September 20, 2013, the IRS released Notice 2013-60, which clarified Notice 2013-29. Each Notice addresses the requirement that construction of a qualified facility must begin before January 1, 2014, in order to be...more

IRS Updates Renewable Energy Tax Credit Beginning of Construction Guidance

On September 20, 2013, the Internal Revenue Service (IRS) issued Notice 2013-60, which provides additional guidance that will help developers and purchasers of renewable energy facilities meet the beginning of construction...more

IRS Releases New Guidance on Beginning of Construction - 23 September 2013

Production tax credits ("PTCs") are available for wind, biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic facilities, if construction of the facility begins before January 1, 2014....more

IRS Likely to Supplement "Beginning Construction" Guidance

As most of you are aware, Congress in the "American Taxpayer Relief Act of 2012" eliminated the "placed in service" deadline for purposes of the renewable energy tax credits. In its place, Congress required for purposes of...more

Energy And Environment Update -- May 13, 2013

In This Issue: Energy & Climate Debate; Congress; Administration; Department of Energy; Environmental Protection Agency; Department of Interior; Federal Energy Regulatory Commission; Department of Commerce; Department...more

Energy Law Alert May 2013 - Clean Energy Takes Center Stage in Obama’s 2013-2014 Proposed Budget

A glimpse at President Obama’s recently released 2013-2014 federal budget proposal reveals major steps in funding for energy projects. A sizeable $28.4 billion allocation has been set aside for The Department of Energy...more

Master Limited Partnership Parity Act, Nuclear Waste, and the Investment Tax Credit– ML Strategies Weekly Energy and Environmental...

This week’s Energy & Environment Update recaps the very busy past week for energy and environmental issues both on and off Capitol Hill. Senator Coons introduced the Master Limited Partnership Parity Act on Wednesday. ...more

Energy And Environment Update -- April 29, 2013

In This Issue: Energy & Climate Debate; Congress; Administration; Department of Energy; Environmental Protection Agency; Department of Interior; Department of Treasury; Department of Agriculture; State Department;...more

IRS Construction Deadline Guidance Highlights Disparate Treatment of Renewable Energy Technologies

The IRS recently released guidance in the form of an IRS Notice implementing a rule change under the American Taxpayer Relief Act of 2012 concerning the construction deadline that renewable energy facilities must meet to...more

IRS Releases Guidance on Beginning Construction for Production Tax Credit and Investment Tax Credit

A qualified facility is eligible to receive a renewable electricity production tax credit (PTC) or energy investment tax credit in lieu of the PTC if construction of the facility begins before January 1, 2014. Qualified...more

Legal Alert: IRS Clarifies "Binding Written Contract" Definition in Renewable Energy Tax Credit Begun Construction Guidance

On April 25, 2013, the Internal Revenue Service updated guidance issued on April 15, 2013, that explained how to satisfy the new “begun construction” requirement for the renewable energy section 45 production tax credit (PTC)...more

IRS Issues “Begin Construction” Guidance for Renewable Energy Tax Credits

On April 15, 2013, the Internal Revenue Service (IRS) issued long-awaited guidance updating eligibility requirements for renewable project developers seeking to utilize the 2.3 cent/kWh Renewable Electricity Production Tax...more

IRS Issues Notice to Determine When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

The Internal Revenue Service (IRS) has issued important guidance to determine when construction begins with respect to a qualified facility for purposes of the production tax credit and the investment tax credit for certain...more

Key Energy-Related Tax Provisions in the 2014 Budget Proposal

President Obama’s recently released budget proposal for the 2014 fiscal year contains energy-related tax provisions that include a permanent extension of the renewable energy production tax credit (PTC) and a provision making...more

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