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LAWMAKERS REQUEST CLARITY ON PTC ELIGIBILITY

Friday, February 1, 2013 - 8:00AM

Thirty members of the House Sustainable Energy and Environment Coalition (SEEC) today sent a letter to the Internal Revenue Service (IRS) and Department of the Treasury asking them to issue guidance on the construction threshold that wind energy projects must meet to qualify for the production tax credit (PTC). The American Taxpayer Relief Act (H.R. 8) extended the PTC to projects that “commence construction” by Jan. 1, 2014, but Treasury and the IRS have not yet provided guidance as to what that means. The SEEC’s letter says that the lack of guidance is hindering investment in renewable energy projects and that because the PTC has only been extended for one year, timely guidance is critical.

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