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Republican Senators Urge Treasury to Provide Safe Harbor for Renewable Energy Investment Tax Credit, Production Tax Credit due to COVID-19 Delays

Friday, May 22, 2020 - 11:00AM

Three Republican senators sent a letter Thursday to Treasury Secretary Steven Mnuchin, asking for relief from certain requirements for renewable energy investment tax credit (ITC) and production tax credit (PTC) properties due to the COVID-19 pandemic. Sens. Lisa Murkowski, R-Alaska, Susan Collins, R-Maine, and Thom Tillis, R-N.C., asked Mnuchin to allow COVID-19-related equipment delivery delays to qualify as acceptable disruptions for the start-of-construction safe harbor requirements and to modify language in the physical work test to allow “continuous efforts in place of “continuous program of construction.”

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