News & Analysis as of

Investment Tax Credits Comment Period

Cadwalader, Wickersham & Taft LLP

Everything You Need to Know About Energy Tax Credit Sales

The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits.  ...more

A&O Shearman

Treasury’s Proposed Regulations on Energy Property and the Energy Investment Tax Credit

A&O Shearman on

Among other things, the proposed regulations would: Below is a more detailed summary of the key provisions in the proposed regulations as well as our initial observations. The IRS will collect comments until January 22, 2024,...more

Holland & Knight LLP

Section 48 Proposed Regulations Detail Treatment of Qualified Biogas Property

Holland & Knight LLP on

The U.S. Department of the Treasury on Nov. 17, 2023, issued proposed regulations (Proposed Regulations) regarding the investment tax credit (ITC) under Section 48 of the Internal Revenue Code (Code) that, following passage...more

Holland & Knight LLP

Treasury, IRS Issue Proposed Regulations on IRA Prevailing Wage and Apprenticeship Requirements

Holland & Knight LLP on

Ten months after the release of initial guidance, the U.S. Department of the Treasury and IRS on Aug. 29, 2023, issued proposed regulations regarding increased credit or deduction amounts available for taxpayers satisfying...more

Eversheds Sutherland (US) LLP

Directions regarding Direct Pay - Proposed Regulations Released on Elective Payment for Inflation Reduction Act Renewable Energy...

On June 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued guidance on several topics related to tax credit monetization under the Inflation Reduction Act of 2022 (IRA),...more

Holland & Knight LLP

Treasury Department, IRS Release Low-Income Community Bonus Credit Proposed Rules

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on May 31, 2023, released a Notice of Proposed Rulemaking (NPRM) regarding the low-income community bonus credit under Section 48 of the Internal Revenue Code. The NPRM requests...more

Wiley Rein LLP

Treasury Requests Comments for Upcoming Guidance on Energy Tax Benefits in the Inflation Reduction Act

Wiley Rein LLP on

The U.S. Treasury Department (Treasury) and the Internal Revenue Service (IRS) published six notices on October 5, 2022, requesting comments on various provisions in the Internal Revenue Code (Code) related to energy tax...more

Eversheds Sutherland (US) LLP

Treasury issues requests for comments regarding clean energy tax incentives in the Inflation Reduction Act of 2022

​​​​​​​On October 5, 2022, the Department of the Treasury released six requests for comments regarding certain clean energy tax incentives in the Inflation Reduction Act of 2022....more

Mayer Brown

IRS Requests Comments on Various Aspects of Energy Tax Credits

Mayer Brown on

On October 5, 2022, the U.S. Internal Revenue Service (IRS) issued six notices requesting comments on various aspects of extensions and enhancements of energy tax benefits in the Inflation Reduction Act. Here is list of, and...more

BCLP

Illinois Power Agency Estimates More Than $650 Million Available for Renewable Energy Credit Purchases from New Projects Through...

BCLP 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

Foley & Lardner LLP

IRS Issues Proposed Rules on Income Inclusion under Section 50(d)(5)

Foley & Lardner LLP on

The IRS just published long-awaited temporary regulations under section 1.50-1T governing the section 50(d)(5) income inclusion rules. These rules apply to lessees of investment credit property when the lessor elects to treat...more

Stoel Rives LLP

Citing Costs and Timing, PUC Denies Xcel Energy’s Request for Contested Case

Stoel Rives LLP on

During a public hearing yesterday, the Public Utilities Commission denied Xcel Energy’s request for a contested case hearing for the next stage of developing the Minnesota Community Solar Garden Program (the “CSG Program”)....more

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