Senators Introduce Bill to Make Renewable Energy ITC, PTC Temporarily Refundable
Three U.S. Senators introduced legislation this week to allow for temporary refundability of renewable energy investment tax credits (ITCs) and production tax credits (PTCs) due to the COVID-19 pandemic. The Save America’s Clean Energy Jobs Act would apply to properties that begin construction before Jan. 1, 2023, and are placed in service after March 25, 2021. The bill’s sponsors are Sens. Tom Carper, D-Delaware, Sheldon Whitehouse, D-Rhode Island, and Martin Heinrich, D-New Mexico.
The effect of the COVID-19 pandemic on equity prices will be a topic at the Novogradac 2021 Spring Renewable Energy and Environmental Tax Credits Virtual Conference May 20-21.