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House Bill Would Allow Cash Payment in Place of ITC, PTC

Thursday, December 5, 2019 - 10:00AM

Ten Democrat members of the House of Representatives introduced a bill that would allow taxpayers to receive a cash payment instead of a tax credit for renewable energy investment tax credits and production tax credits. The Renewable Energy Investment Act of 2019 (H.R. 5157) would allow Indian tribal governments to receive 100 percent of the credit in cash and would allow other taxpayers to receive 85 percent of the credit in cash. The payment in lieu of the credit would be excluded from federal gross income.

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