On July 9, 2009, the Treasury Department released guidance (the July 2009 guidance) and application materials for the cash-grant program enacted in Section 1603 of the American Recovery and Reinvestment Act of 2009, P.L. 111-5. While generally very helpful, some portions of the July 2009 guidance were not entirely clear, making it difficult in some cases for developers to know whether certain construction activities would be sufficient to make their projects eligible for the grant even though the project would not be completed until after 2010 (when the grant provisions would no longer apply under current law). To resolve certain questions that have arisen since the July 2009 guidance was issued, the Treasury Department today released revisions that clarify the determination of when construction has begun for qualifying property placed in service after 2010 (including the application of the “safe harbor” in the July 2009 guidance). Other than changes to Section IV.C regarding beginning of construction, the July 2009 guidance has not been revised. A grant applicant may choose to determine when construction begins under the July 2009 guidance, rather than under the revised guidance.