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Troutman Pepper Locke

Navigating the Inflation Reduction Act: Insights on Brownfield Energy Community Credits - Energy Law Insights

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Join Troutman Pepper Locke Partners Karlie Webb and Ben Cowan as they delve into the complexities of the Inflation Reduction Act, focusing on the Brownfield Energy Community credits. This discussion covers the statutory...more

DarrowEverett LLP

The Future of U.S. Environmental Regulation: What to Expect in 2025

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While still a newly minted lawyer early in 1977, I had the good fortune to land a job with the then brand-new Rhode Island Department of Environmental Management. This coincided with the 1976 election of Jimmy Carter as...more

Pierce Atwood LLP

Will Treasury Use Energy Tax Credits to Assist PFAS-Impacted Communities?

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Proposed tax regulations to be released this year may clarify whether agricultural land contaminated with per- and polyfluoroalkyl substances (PFAS) qualify for a federal tax credit that would incentivize renewable energy...more

Husch Blackwell LLP

The Inflation Reduction Act’s Brownfields Adder: Updates on What Sites Qualify

Husch Blackwell LLP on

As detailed previously, the Inflation Reduction Act (IRA) offers incentives to renewable energy development that takes place on certain properties that are affected by potential or confirmed contamination. Under the IRA, a...more

Bricker Graydon LLP

What is an “Energy Community” - IRS Provides Guidance on Key Aspect of the Inflation Reduction Act

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The Inflation Reduction Act (IRA) has been called the most aggressive climate investment ever undertaken by the U.S. Congress. With approximately $370 billion dollars in funding over the next 10 years, it is projected that...more

Akin Gump Strauss Hauer & Feld LLP

Treasury Updates Guidance Issued Last Week on 'Energy Community' Tax Credit Adders

Summary - On April 4, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released guidance on the “energy community” tax credit adders (EC Adders) that were added under the Inflation Reduction Act...more

Vinson & Elkins LLP

Treasury Quietly Changes Energy Community Guidance, Redefining Beginning of Construction Timing Rule

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In what appears to have been an update to previously released guidance, the Department of Treasury (the “Treasury”) and Internal Revenue Service (the “IRS”) posted an unexpected update to Notice 2023-29 (the “Notice”)...more

Eversheds Sutherland (US) LLP

IRS releases Notice 2023-29 on energy community rules

On April 4, 2023, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-29(the Notice) to provide additional guidance on energy community bonus tax credits under IRC sections 45, 45Y,...more

Latham & Watkins LLP

IRS Clarifies Rules for Energy Community Bonus Tax Credits

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The Notice enables developers and investors to more easily determine the Energy Community status of projects. Key Points: ..The IRS and the Treasury Department have provided tables to assist in determining eligibility...more

Vinson & Elkins LLP

Treasury Issues IRA Guidance on Energy Communities

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On April 4, 2023, the Department of Treasury (the “Treasury”) and Internal Revenue Service (the “IRS”) issued Notice 2023-29 (the “Notice”) providing guidance on the energy community bonus credit available under sections 45,...more

Foley Hoag LLP - Environmental Law

It’s Good to Be a Brownfield Site — As Long As It’s Not Too Brown

Tucked away in the recesses of the Inflation Reduction Act is a provision that reminds everyone why they love Superfund so much. On its face, it’s simply an incentive for renewable energy development, giving an adder to the...more

Vinson & Elkins LLP

Biden Administration DOJ Signals Shift In Environmental Enforcement Revoking Prior Policies

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On February 5, 2021, the acting head of the U.S. Department of Justice (“DOJ”) division that brings environmental enforcement cases issued a memo revoking nine policy directives from the prior administration, including...more

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