On April 16, 2024, Ameek Ashok Ponda, with assistance from Paul Decker, Sarah Wellings and Connie Lee, submitted a comment letter to the Internal Revenue Service (IRS) regarding his recommendations for the 2024-2025 Priority Guidance Plan, pursuant to Notice 2024-28, I.R.B. 2024-13.

The comment letter incorporates a March 2024 thought piece (updated from time to time) published by Ameek, Paul, Sarah and Connie, titled "Enabling REITs to Deploy Renewable Energy: Toward a Workable Legal Standard," in a request to the IRS and the Department of Treasury to issue precedential guidance that (i) confirms that the revenue generated by a real estate investment trust (a “REIT”) providing electricity to its tenants from renewable-source energy that is produced onsite does not constitute Section 856(d)(7)(A) “impermissible tenant service income” and (ii) enables a REIT to deploy renewable energy infrastructure during periods of ramp up or tenant vacancies pursuant to an “appropriate in size” for the building (or other property) legal standard.

Resources

Ameek Ashok Ponda Comment Letter to IRS to Address Favorably REITs Deploying Renewable Energy Infrastructure at their Properties