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Biden Signs Inflation Reduction Act Into Law, Including Renewable Energy Provisions

Tuesday, August 16, 2022 - 3:45PM

President Joe Biden today signed into law the Inflation Reduction Act (IRA), a $750 billion budget reconciliation bill that includes $369 billion in clean and renewable energy provisions that feature extensions of the renewable energy production tax credit (PTC) and investment tax credit (ITC). A Notes from Novogradac blog post discusses how the IRA’s 15% corporate minimum tax on book income may affect equity markets for community development tax incentives and another blog post provides details on the green energy provisions of the legislation.

Hear more about the clean energy provisions of the IRA and the implications for the tax credit community of in the Aug. 23 episode of the Tax Credit Tuesday podcast. Join Novogradac at an upcoming tax credit conference to hear more about what lies ahead related to this law and other legislation expected to be considered this year.

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