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.”

For community development, affordable housing and renewable energy updates related to COVID-19, see Novogradac’s dedicated page.