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Environmental Tax

Read need-to-know updates, commentary, and analysis on Environmental issues written by leading professionals.

House and Senate Tax Bills Target Renewable Energy Projects

by Holland & Knight LLP on

The U.S. Senate passed its version of a bill to overhaul the U.S. tax code on Dec. 2, 2017, and is now working with the House of Representatives to reconcile its bill with the House's version, passed in November. The goal of...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

Energy & Sustainability Connections Newsletter - November 2017

by Mintz Levin on

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

Food and Beverage News and Trends

by DLA Piper on

FDA issues draft guidance on the creation of GRAS panels. The FDA has issued draft guidance on the best practices for a manufacturer to follow when convening a panel of experts to evaluate whether a substance is “generally...more

Renewable Energy Update - November 2017

by Allen Matkins on

Focus - Wells Fargo global operations now powered by 100 percent renewable energy - PennEnergy - Nov 8 Wells Fargo & Company has announced that 100 percent of its global electricity consumption for 2017 will be met with...more

A Comparison of the Energy Tax Changes in the Proposed House and Senate Tax Reform Bills

On November 9, 2017, the Senate Finance Committee released a Description of the Chairman’s Mark of the “Tax Cuts and Jobs Act” and on November 14, 2017, the Senate Finance Committee released a Description of the Chairman’s...more

Connecticut Launches New and Incentivized Brownfields Program

by Beveridge & Diamond PC on

On October 31, Governor Dannel Malloy signed into law Connecticut’s bipartisan budget bill, which provides for a tax incentive plan to support brownfields remediation and reuse. The new plan, called the 7/7 Brownfields...more

Add Batteries to Your Wind Farm and Get More (ITC) Juice

by McDermott Will & Emery on

A battery storage system added to a pre-existing wind facility is eligible for the investment tax credit, even if the facility has claimed the production tax credit. This is good news for taxpayers considering adding...more

Currents - Energy Industry Insights - November 2017

China Energy Investment Signs MOU for $83.7 Billion in West Virginia Projects "China Energy Investment Corp, the world's largest power company by asset value, has signed a memorandum of understanding (MOU) to invest $83.7...more

Senators Re-Introduce Bipartisan Bill To Extend MLP Benefits To Renewables

by Bergeson & Campbell, P.C. on

On October 25, 2017, bipartisan legislation aimed at leveling the playing field between renewable and fossil fuels was re-introduced in the Senate and House of Representatives. Senator Chris Coons (D-DE), along with eight...more

Energy & Sustainability Connections Newsletter - October 2017

by Mintz Levin on

Washington Update - Tax Reform - With the number of remaining 2017 legislative days dwindling, Capitol Hill remains fixed on tax reform as the next big push for the Republican majority, which is anxious for a...more

International Trade Commission Issues Recommendations for Tariffs on Imported Solar PV Equipment

by McDermott Will & Emery on

On October 31, 2017, the US International Trade Commission (ITC) released its recommendations to impose a tariff on imported solar equipment. The proposals it issued, however, would result in duties substantially lower than...more

CT Creates New Brownfields Program, Adopts Brownfields Tax Credit

by Holland & Knight LLP on

Buried in an 881-page budget bill passed Thursday by the Connecticut General Assembly was a new program to support remediation and reuse of brownfields – properties long contaminated and underutilized – as well as new job...more

Challenge to Electric-Drive/Hybrid-Drive Vehicle Fee: Supreme Court of Oklahoma Opinion

The Supreme Court of the State of Oklahoma (“Court”) issued an October 24th opinion addressing a challenge filed by the Sierra Club to Oklahoma legislation which created the Motor Fuels Tax Fee (“H.B. 1449 [ Legislation]”)...more

Worth Another Look: The Fiscal Code

We inched a little closer to a completed 2017-2018 state budget with the House’s final passage of H.B. 674 (Prime Sponsor Withdrawn), an omnibus bill amending the state Fiscal Code. The bill, which basically serves as an...more

The Revival of North Carolina General Assembly Special Sessions and Why They Matter

by Ward and Smith, P.A. on

Brief History of Special Sessions - In odd numbered years, after the North Carolina General Assembly adjourns its Long Session, the body typically abstains from lawmaking through the commencement of the Short Session the...more

Conservation Easements: Easement Deed Fails To Satisfy Perpetuity Requirement

by Fox Rothschild LLP on

In Palmolive Building Investors, LLC v. Commissioner, 149 T.C. No. 18, the Tax Court denied a charitable contribution deduction of a donated façade easement because the easement deed failed to satisfy the perpetuity...more

Oregon Targets Renewable Heating Companies for Increased Assessments

by Tonkon Torp LLP on

Biomass heating companies, which use renewable energy sources like wood, crop waste, or garbage to generate heat, will now come under central assessment in Oregon. Under central assessment, all of a company's property,...more

What’s New in Washington - October 2017

Congress returned after Labor Day for a busy September and acted quickly to avoid a government shutdown by passing stop gap funding for Fiscal Year (FY) 2018 and raising the debt ceiling. The already crowded congressional...more

South Carolina Conservation Easements for Farm and Forestry Property

by McNair Law Firm, P.A. on

There are 12.9 million acres of commercial forestland in South Carolina. More than half of the forestland is family-owned, and 82% of private owners live on the land. The state also has about 25,000 farms, which encompass 4.9...more

Courts Issue Victories To Conservation Easement Donors

by Fox Rothschild LLP on

August brought three wins for taxpayers who donated conservation easements that were challenged by the IRS. In all of the cases, terms of the conservation easement deed document carried the day....more

California Environmental Law and Policy Update - August 2017 #4

by Allen Matkins on

Environmental and Policy Focus - Interior Department identifies 'a handful' of national monuments to shrink in its report to Trump - San Diego Union-Tribune - Aug 24 - The White House is getting ready to move on...more

Under the Dome: Inside the Maine State House

by Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Republicans Challenge Wording of Medicaid Expansion Question on Fall Ballot - Question 2 on...more

Fifth Circuit Vacates Denial of Charitable Tax Deduction For Conservation Easements

On August 11, the U.S. Court of Appeals for the Fifth Circuit decided the case of BC Ranch II, LP, et al., v. Commissioner of Internal Revenue, which involved charitable tax deductions based on the creation of conservation...more

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