News & Analysis as of

Carbon Capture and Sequestration Final Rules

Morgan Lewis

Treasury Department Releases Final Regulations Applicable to the Hydrogen Tax Credits

Morgan Lewis on

On January 3, 2025, the US Department of the Treasury released final Treasury regulations applicable to the hydrogen production tax credit under Section 45V and the investment tax credit for hydrogen production facilities...more

Latham & Watkins LLP

EPA Grants West Virginia Primacy for Class VI Wells

Latham & Watkins LLP on

This grant of authority could accelerate the permitting process for carbon capture and storage projects in the state. On February 18, 2025, the US Environmental Protection Agency (EPA) approved a final rule granting West...more

Bracewell LLP

Treasury Department and IRS Release Final Regulations for Section 45V Clean Hydrogen Production Tax Credit

Bracewell LLP on

On January 3, 2025, the Treasury Department and the Internal Revenue Service issued final regulations under Internal Revenue Code (Code) Section 45V (the Final Regulations) with respect to credits for the production of clean...more

King & Spalding

Treasury and IRS Issue Final Regulations Implementing Section 45V Clean Hydrogen Production Tax Credit

King & Spalding on

On January 3, 2025, the IRS and Treasury issued long-awaited final regulations (the “45V Final Regulations”) implementing the clean hydrogen production tax credit (the “45V Credit”) under Section 45V of the Internal Revenue...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury and IRS Issue Final Regulations on the Credit for Production of Clean Hydrogen Under Section 45V of the Internal Revenue...

The final regulations retain the general framework of the proposed regulations, with some important modifications based upon comments from industry members. The acquisition and retirement of energy attribute certificates...more

ArentFox Schiff

EPA Tightens Grip on Fossil Fuel Power Plants: New Regulations Target Discharges, Emissions, and Disposal Issues

ArentFox Schiff on

The US Environmental Protection Agency (EPA) finalized a suite of final rules aimed at reducing contamination, emissions, and discharges from coal- and gas-fired power plants on April 25. This suite of rules includes two...more

Paul Hastings LLP

Treasury and IRS Release Final Regulations on Direct Pay

Paul Hastings LLP on

The Inflation Reduction Act of 2022 added Section 6417 to the Internal Revenue Code of 1986, as amended (the “Code”). Under this new section, certain taxpayers may make an elective payment, which will treat certain eligible...more

Hogan Lovells

EPA grants Louisiana primacy for issuing Title VI Well Permits

Hogan Lovells on

On December 28, 2023 the Environmental Protection Agency (EPA) signed the final rule on the State of Louisiana Underground Injection Control Program; Class VI Primacy, which gave the State of Louisiana oversight over...more

Bracewell LLP

Broad Federal Support for Carbon Capture, Utilization and Storage May Lead to Greater Investment

Bracewell LLP on

Federal support for carbon capture, utilization and storage (“CCUS”) demonstrated over the last two months has generated even greater enthusiasm for carbon capture projects in the United States. First, in the final weeks of...more

Latham & Watkins LLP

Treasury Finalizes Carbon Capture Tax Credit Regulations

Latham & Watkins LLP on

The US Treasury Department and the IRS provided practical administrative rules for the carbon capture and sequestration tax credit. Key Points: ..The IRS finalized the third set of rules in a series of regulatory guidance...more

Eversheds Sutherland (US) LLP

Section 45Q carbon capture and sequestration final regulations released

On January 6, 2021, the Internal Revenue Service and the Department of the Treasury released final regulations on the IRC section 45Q carbon capture and sequestration (CCS) credit in order to implement changes made to that...more

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