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
On July 8, 2024, the U.S. Environmental Protection Agency (EPA)’s Final Rule in the Federal Register officially designating Perfluorooctanoic Acid (PFOA) and Perfluorooctanesulfonic Acid (PFOS) as “hazardous substances” under...more
On April 19, 2024, EPA issued its long-awaited Final Rule officially listing two key per- and polyfluoroalkyl substances (PFAS), or so-called “forever chemicals,” as “hazardous substances” under the Comprehensive...more
On June 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-45 and Notice 2023-47. Notice 2023-45 clarifies requirements for a brownfield site energy community safe harbor provided...more
Thanks to the Inflation Reduction Act (IRA), which went into effect in January, it can pay to be a brownfield – a term used to refer to a property that is affected by potential or confirmed contamination. Specifically, the...more
On April 4, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) released Notice 2023-29 (the “Notice”) providing a high-level overview of the rules they intend to include in...more
The Phase I Environmental Site Assessment (“ESA”) is the quintessential environmental diligence tool for transactions involving real property. A Phase I ESA includes a site inspection and review of current and past uses and...more
For transactions in 2023 and going forward, parties who purchase property will want to be aware of an update applicable to Phase I reports. By final rule issued on December 15, 2022, the U.S. Environmental Protection Agency...more
The U.S. Environmental Protection Agency (“EPA”) has received to date 14 comments addressing both a proposed rule and direct final rule amending 40 CFR Section 312.11 which would amend the Comprehensive Environmental...more
Despite last minute veto threats from the White House, the bipartisan Consolidated Appropriations Act of 2018 was signed into law earlier this year. Buried deep in this massive omnibus spending bill is a major win for...more