On April 30, 2024, the Department of the Treasury issued final regulations on tax credit transfers that allow hydrogen producers to sell tax credits earned under § 45V of the Inflation Reduction Act (IRA). Section 6418 of the...more
4/26/2024
/ Fossil Fuel ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Hydropower ,
Inflation Reduction Act (IRA) ,
Leases ,
Mineral Leases ,
Purchase Agreement ,
Solar Energy ,
Tax Credits ,
Wind Power
The Inflation Reduction Act (the “IRA”) provides funding for several tax credit incentives related to significant investments in energy projects. One of these credits is the section 48C investment tax credit (“48C Credit”),...more
On May 12, 2023, in Notice 2023-38 (the “Notice”), the IRS published rules intended for inclusion in forthcoming regulations regarding domestic content bonus credit amounts.
The Inflation Reduction Act of 2022 amended §§...more
In an effort to trade an increase in the debt ceiling for spending cuts, the Republican-controlled U.S. House of Representatives has narrowly passed H.R. 2811, dubbed the Limit, Save, Grow Act of 2023. The legislation seeks...more
Kevin McCarthy (R-CA), the Speaker of the U.S. House of Representatives, has introduced a debt limit plan that aims to cut government spending by $2.7 trillion over the next decade. The Republican plan specifically targets...more
On October 5, 2022, the U.S. Department of the Treasury highlighted six separate notices requesting initial general public comments in response to specific sets of questions pertaining to climate and clean energy tax...more
On August 16, 2022, President Joseph Biden signed into law the Inflation Reduction Act of 2022 in what many have called the largest investment in climate change countermeasures in U.S. history....more
8/29/2022
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Clean Energy ,
Clean Fuels Program (CFP) ,
Energy Tax Incentives ,
Incentives ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Joe Biden ,
New Legislation ,
Nuclear Power ,
Popular ,
Renewable Energy ,
Superfund
The Repurchase of Corporate Stock provision of the Inflation Reduction Act of 2022 (IRA), often called the stock-buyback provision, imposes a one percent excise tax on the repurchase or redemption of stock by covered...more
The Inflation Reduction Act of 2022 (IRA) includes increased Internal Revenue Service (IRS) funding in the amount of approximately $80 billion over ten years. According to a Congressional Research Service report, the law...more
Direct pay proposals contained in the proposed Build Back Better Act promise to establish a system that would allow renewable energy developers to elect to receive ITC and PTC tax credits as a refundable credit....more
6/24/2022
/ American Recovery and Reinvestment Act ,
Clean Energy ,
Economic Growth ,
Energy Projects ,
Energy Sector ,
Energy-Efficiency Tax Credits ,
International Trade Commission (ITC) ,
Investors ,
Renewable Energy ,
Tax Equity ,
U.S. Treasury
On April 7, 2022 the Opportunity Zones Transparency, Extension and Improvement Act (the Bill) was introduced. The Bill is a bipartisan, bicameral bill that would extend opportunity zone tax benefits, add additional reporting...more
Under current law, there are significant tax benefits for renewable energy projects in the United States. These benefits include nonrefundable ITC and PTC tax credits and depreciation deductions. ...more
Tax considerations are one of the main drivers for renewable energy projects. This fall, Husch Blackwell’s Energy and Natural Resources team hosted a webinar that explored the available federal and state credits, abatements,...more
Following an announcement from the Internal Revenue Service (IRS) on February 22, 2021, Texas residents and business owners suffering from the February 2021 winter storm will now have until June 15, 2021, to file certain tax...more