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Tax Credits Brownfield Properties Investment Tax Credits

ASKramer Law

Energy Tax Credits for a New World Part VI: Energy Community Bonus Credits

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What is the purpose of the Energy Community Bonus Credit? The Inflation Reduction Act (IRA) introduced the Energy Community Bonus Credit to encourage renewable energy project developers to locate their facilities and energy...more

Husch Blackwell LLP

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

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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

Unique Incentive for Brownfields Under the Inflation Reduction Act

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A facility that is located on a brownfield site, meaning real property that (i) the expansion, redevelopment, or reuse of may be complicated by the presence or potential presence of a hazardous substance, pollutant, or...more

Vinson & Elkins LLP

Treasury Updates its Energy Community Guidance

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On March 22, 2024, the Internal Revenue Service (IRS) issued additional guidance in respect of the “Energy Community Bonus” in Notice 2024-30 (the “Notice”), which provides two key updates: (1) offshore wind farms have two...more

BCLP

IRS guidance on energy community PTC and ITC bonus credits provides some needed clarity

BCLP on

On April 4, 2023, the IRS and the Treasury issued Notice 2023-29 (the “Notice”) announcing an intention to propose regulations, and providing interim guidance, with respect to the requirements that taxpayers must satisfy in...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

Husch Blackwell LLP

With a Push for Green, It Can Pay to Be Brown: Qualifying for the Inflation Reduction Act’s Brownfields Incentives and the...

Husch Blackwell LLP on

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

Latham & Watkins LLP

IRS Clarifies Rules for Energy Community Bonus Tax Credits

Latham & Watkins LLP on

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

Morgan Lewis

IRA's Energy Community Tax Credit ‘Adder’: IRS Releases Taxpayer-Favorable Guidance

Morgan Lewis on

The highly anticipated guidance for determining a “green” energy facility’s eligibility for the potentially valuable tax credit increase largely aligns with industry expectations, including by providing certainty on energy...more

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