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Bracewell Tax Report: Week of February 12

by Bracewell LLP on

The Tax Cuts and Jobs Act (TCJA) effected sweeping reform across the Internal Revenue Code. This report, and future installments, will discuss this legislation and other important tax guidance, including how such authorities...more

Energy Update - February 2018

by Shearman & Sterling LLP on

We are pleased to release the latest issue of our client newsletter, “Energy Update,” designed to inform clients and friends of the firm about important developments affecting U.S. and international energy markets. Please...more

What Is the Impact of Tax Reform on US Wind Tax Equity Deals?

A Word About Wind has published our article What Is the Impact of Tax Reform on US Wind Tax Equity Deals? in its blog (subscription required) and newsletter. ...more

Tax Extender Act of 2017 Proposes Changes for Renewable and Nuclear Power, Alternative Fuels and Other Energy Tax Provisions

The Tax Extender Act of 2017 (Extenders Bill) would, if enacted, extend and change tax credits for the renewable energy, alternative fuels and nuclear energy industries, and also would make other changes relevant to the...more

House Bill Would Extend the ITC to Standalone Energy Storage Systems

by Stoel Rives LLP on

The investment tax credit (“ITC”) plays a major role in driving investment in the U.S. solar energy market. Earlier this month, two members of Congress introduced a bill in the U.S. House of Representatives to provide a...more

Renewable Energy Update: Effect of the Tax Cuts and Jobs Act of 2017

by Shearman & Sterling LLP on

On December 19 and 20, 2017, both the House and the Senate passed the “Tax Cuts and Jobs Act of 2017” (H.R. 1) (the “Tax Reform Act”), which is expected to be signed by the President. The House of Representatives had passed...more

Tax Reform Update - Impact on Renewable and Energy Projects

by Latham & Watkins LLP on

Major tax overhaul will reshape the renewables and energy industries. Key Points: ..Sponsors must navigate new tax rules in search of lowest after-tax capital structures. ..A new cross-border tax threatens to...more

BREAKING NEWS: Congress Sends Tax Cuts and Jobs Act to President Trump’s Desk for Signing

by Foley & Lardner LLP on

The Tax Cuts and Jobs Act (TCJA) has been passed by both houses of Congress and is now set to be signed into law by President Trump. The vote was 224-201 in the House with all the Democrats joined by twelve Republicans voting...more

Final Tax Reform Bill Released – What Does it Mean for the Energy Sector? 

On December 15, 2017, the House-Senate Conference Committee released a revised version of the Tax Cuts and Jobs Act (the Final Bill) that is expected to be passed by the House of Representatives and Senate this week and sent...more

Tax Cuts and Jobs Act Ready for Vote: Potential Impact on the Renewable Energy Industry

by Stoel Rives LLP on

House and Senate Republicans released yesterday evening language of a comprehensive tax reform bill, the “Tax Cuts and Jobs Act” (H.R. 1), that is expected to be voted on next week and signed into law by President Trump by...more

Senate’s Tax Bill’s Impact on the Tax Equity Market: Five Differences from the House Bill

The US tax reform bill that the Senate passed on December 2, 2017—along partisan lines in a 51 to 49 vote—is a mixed bag for the tax equity market. The bill is now headed to the conference committee, consisting of House of...more

The Senate’s New Base Erosion Tax: Highlights for Renewable Energy

by McDermott Will & Emery on

On December 2, 2017, the Senate approved its version of the Tax Cuts and Jobs Act. The Senate Bill includes the base erosion and anti-abuse tax, a new tax intended to apply to companies that significantly reduce their US tax...more

UK Autumn Budget 2017 – the key measures impacting business

by White & Case LLP on

The Chancellor, Philip Hammond, has announced the Autumn Budget 2017. Alongside the headline-grabbing abolition of SDLT for first-time buyers on homes up to £300,000, and on the first £300,000 of properties up to £500,000,...more

The GOP’s Tax Cuts and Jobs Act Includes Changes Impacting the Renewable Energy Industry

by Foley & Lardner LLP on

On November 3rd, House Ways and Means Committee Chairman Kevin Brady (R. Tex.) released the “chairman’s mark” to H.R. 1, the “Tax Cuts and Jobs Act” (TCJA). The TCJA represents the most extensive rewrite of the Internal...more

Impact of the House Tax Reform Bill on the Renewable Energy Sector

by Latham & Watkins LLP on

Bold proposal seeks changes to tax credits, depreciation, and corporate tax rates. Key Points: - Production Tax Credits are cut by more than one-third. - Bill may impact existing and future tax equity...more

House Republican Tax Reform Bill Retains and Modifies Energy Credits

by Shearman & Sterling LLP on

On November 2, 2017, the House Republicans released their plan for comprehensive tax reform, the “Tax Cuts and Jobs Act of 2017” (H.R. 1) (the “Tax Reform Bill”). Prior to this release, Congressional Republicans and the Trump...more

The IRS Continues Providing Normalization Guidance - This Time on Both the Consistency and Proration Rules  

On October 13, 2017, the Internal Revenue Service (IRS) issued two private letter rulings (PLR 201741004 and PLR 201741005) that provide further guidance on applying the normalization consistency rules to the inclusion of...more

Illinois Power Agency Estimates More Than $650 Million Available for Renewable Energy Credit Purchases from New Projects Through...

by Bryan Cave on

On September 29, 2017, the Illinois Power Agency (IPA) released for public comment its initial draft Long Term Renewable Resources Procurement Plan (LTRRP) for Renewable Energy Credits (RECs) pursuant to the Illinois Future...more

FERC Holds Certain Passive Equity Interests in Public Utilities Are “Non-Voting Securities” for Purposes of Section 203 of the...

On October 4, 2017, in a decision with significant implications for the energy project finance community, the Federal Energy Regulatory Commission (FERC or the “Commission”) granted a petition for declaratory order filed by...more

Tax Equity Investors Wave Goodbye to FPA Section 203

by Stoel Rives LLP on

Tax equity investments, and potentially other passive investments, in renewable energy just became that much easier to make. Today, in response to a petition for declaratory order filed in January 2017 by a coalition of...more

IRS Provides Safe Harbor for Inadvertent Normalization Violations

On September 7, 2017, the IRS issued Revenue Procedure 2017-47, which provides a safe harbor for regulated public utilities for inadvertent or unintentional uses of a practice or procedure that is inconsistent with the...more

Energy & Sustainability Connections Newsletter - July 2017

by Mintz Levin on

A Note from the Editors - Energy & Sustainability Connections brings the latest developments in energy investing, legal insights, company activity, and industry events straight to your inbox. This month’s Leader in the...more

IRS Rules (Again) That Taxpayers Are Not Entitled to Claimed Refined Coal Credits

by McDermott Will & Emery on

In a highly-anticipated Technical Advice Memorandum (TAM) dated March 23, 2017 and released on July 21, 2017, the Internal Revenue Service (IRS) ruled that two taxpayers who had invested in a Limited Liability Company that...more

German Utilities Score Billions on Constitutional Challenge to German Nuclear Fuel Tax

by Latham & Watkins LLP on

On 7 June 2017, the Federal Constitutional Court of Germany (FCC) published a recent decision that declared the German Nuclear Fuel Tax Act (Kernbrennstoffsteuergesetz – KernbrStG) void due to the lack of legislative...more

Is the wind of change blowing for energy investors in Poland?

by DLA Piper on

The Polish Ministry of Energy (ME) has been working on a set of changes to the Renewable Energy Sources Act and certain other acts including the Wind Energy Investments Act. The wording of the proposed changes is to be...more

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