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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

Window on Washington - Vol. 1, Issue 35

by Clark Hill PLC on

Ryan Hints at Short-Term Spending Bill: Speaker Paul Ryan (R-Wis.) on Tuesday said Republicans might need a short-term spending bill to prevent a government shutdown on December 9. Ryan said the House GOP's goal is to pass a...more

House and Senate Tax Reform Proposals Diverge on Energy Provisions

by Holland & Knight LLP on

On November 2, House Republicans introduced H.R. 1, the Tax Cuts and Jobs Act. Senate Republicans followed suit shortly thereafter, releasing their proposal on November 9. The House Ways & Means Committee concluded its markup...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

Senate’s Version of the “Tax Cuts and Jobs Act” Is Good News for Energy Renewables

by K&L Gates LLP on

On November 2, 2017, we alerted taxpayers that the House Ways and Means Committee had unveiled its much anticipated tax reform bill titled the “Tax Cuts and Jobs Act” (the “House Plan”). The House Plan includes substantial...more

The Impact On U.S. Corporations If The House's "Tax Cuts And Jobs Act" Passes

We drafted a tax alert that addresses the impact of the much anticipated "Tax Cut and Jobs Act" (H.R. 1) on the taxation of U.S. Corporations. The complete text of the alert is available here. Below is a brief summary of H.R....more

The International Tax Impact Of The 2017 Tax Cuts And Jobs Act

We drafted a tax alert that addresses the impact of the much anticipated "Tax Cut and Jobs Act" (H.R. 1) on the international corporate tax landscape. ...more

Window on Washington - Vol. 1, Issue 34

by Clark Hill PLC on

Short-term Continuing Resolution Likely Needed to Fund Government Past December Deadline: Republicans are focused on tax reform through Thanksgiving, and when lawmakers return from the upcoming holiday recess, they will have...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

The Impact On Energy If The House's "Tax Cuts And Jobs Act" Passes

We drafted a tax alert that addresses the impact of the much anticipated "Tax Cut and Jobs Act" (H.R. 1) on the energy industry. The complete text of the alert is available here. Below is a brief summary of H.R. 1. ...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

LB&I Expands New Approach with Second Release of Campaigns

On November 3, 2017, the Large Business & International Division (LB&I of the Internal Revenue Service (IRS) released a list of 11 new campaigns, adding to the 13 campaigns that it initially launched in January. Eversheds...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

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

Initial Republican Tax Reform Proposal Includes Tax Cuts and Changes to Energy Credits

by McDermott Will & Emery on

Changes to the energy credits proposed in the Tax Cuts and Jobs Act could impact the eligibility of renewable energy projects that had been relying on the guidance previously issued by the Internal Revenue Service....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

Kentucky’s Limited Renewable Energy Incentives

by Dickinson Wright on

In August 2007, Kentucky enacted the Incentives for Energy Independence Act (IEIA) program (KRS 154.27-010 through 154.27-090). As with any Kentucky administered tax incentive programs, the inducements under the IEIA are...more

GOP Tax Bill Proposes Changes to the Renewable Energy Industry’s Tax Incentives

On Thursday, November 2, Republicans in the US House of Representatives released their proposed tax reform legislation, providing for massive alterations to tax law. The proposed legislation would trim tax benefits applicable...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

Ambiguity in the Proposed Section 468A Nuclear Fund Regulations—Sometimes Less Is More

On October 25, 2017, the Internal Revenue Service (IRS) held a public hearing to provide taxpayers with an opportunity to comment on proposed regulations under section 468A of the Internal Revenue Code of 1986, as amended...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

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

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