On May 29, 2024, the U.S. Treasury Department and the Internal Revenue Service issued a notice of proposed rulemaking (“NPRM”) that includes guidance on two of the Inflation Reduction Act of 2022’s renewable electricity tax...more
On March 6, 2024, the Securities and Exchange Commission (“SEC”) adopted rules requiring registrants to disclose certain climate data in annual reports. The rules were originally proposed in 2022, and the final language...more
On December 22, 2023, the U.S. Department of the Treasury (DOT) released a Notice of Proposed Rulemaking (NPRM) meant to address several issues associated with the Clean Hydrogen Production Tax Credit (PTC) established via...more
In a vote that stretched into the evening, New Mexico’s legislature passed House Bill 41 by a 26-15 vote on February 13. The bill, which establishes a statewide program known as the “Clean Transportation Fuel Standards,”...more
On December 19, 2023, the California Air Resources Board (“CARB”), which administers the California Low Carbon Fuel Standard (“LCFS”), released a rulemaking package (“Draft Rule”) describing proposed LCFS changes, including...more
Among the benefits afforded the renewable energy sector by the Inflation Reduction Act of 2022, the ability to monetize 11 new or expanded clean energy tax credits via direct transfer was especially interesting to developers...more
The U.S. Environmental Protection Agency (“EPA”), which administers the federal renewable fuels program known as the Renewable Fuel Standards (“RFS”), has long considered the potential impact of electric vehicles on the RFS....more
2022 saw a flurry of renewable natural gas (RNG)-related deals, including in anticipation of (and then in response to) the historic Inflation Reduction Act (IRA). Sustainability mandates and the growing maturity of...more
On September 21, 2022, the Senate passed the Kigali Amendment to the 1987 Montreal Protocol (which had been signed by former President Obama in 2016) by a vote of 69 to 27, reaffirming U.S. commitment to the reduction of...more
In the wake of increasing inflation and as a means of codifying several of the Biden administration’s legislative priorities, the Senate passed the $750 billion Inflation Reduction Act on August 7, 2022 (the “Act”), by a...more
9/14/2022
/ Biden Administration ,
Carbon Emissions ,
Clean Energy ,
Department of the Interior ,
Greenhouse Gas Emissions ,
Healthcare ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Popular ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Tax Revenues ,
Technology Sector
The Repurchase of Corporate Stock provision of the Inflation Reduction Act of 2022 (IRA), often called the stock-buyback provision, imposes a one percent excise tax on the repurchase or redemption of stock by covered...more
The Inflation Reduction Act of 2022 (IRA) includes increased Internal Revenue Service (IRS) funding in the amount of approximately $80 billion over ten years. According to a Congressional Research Service report, the law...more
Delaware has long been a preferred jurisdiction for business formation, partly because of its well-developed body of case law with respect to commercial disputes (which makes predicting the outcome of – and thus resolving –...more
On December 7, 2021, the U.S. Environmental Protection Agency (“EPA”) released its proposed 2020, 2021, and 2022 Renewable Volume Obligations (“RVOs”). RVOs determine the amount of renewable fuel (typically, ethanol) certain...more
On May 7, 2021, pipeline operator Colonial Pipeline Company suffered a ransomware cyberattack on its namesake Colonial Pipeline. Hackers attacked computerized management equipment, effectively freezing one of the largest...more
11/18/2021
/ Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Energy Projects ,
FBI ,
First-Party Coverage ,
Hackers ,
Oil & Gas ,
Popular ,
Ransomware ,
Renewable Energy
Pursuant to the Renewable Fuel Standard (“RFS”), the U.S. Environmental Protection Agency (“U.S. EPA”) issues annual renewable volume obligations (“RVOs”), which set the minimum aggregate volume of renewable fuel that...more