TREASURY UPDATES GUIDANCE FOR SECTION 1603 PROGRAM
The Treasury Department yesterday posted updated guidance for the Section 1603 grant in lieu of energy tax credit program, as well as an updated list of frequently asked questions about the 1603 program and their answers. Treasury says that Questions 32 through 37 are new; questions following those new FAQs have been renumbered. The new FAQs address a number of topics including the requirement that a separate application for Section 1603 must be submitted for each part of the facility that has a different ownership structure.
To discuss the updated program guidance with renewable energy industry experts, join Novogradac & Company at the Financing Renewable Energy Conference, April 28-29, in San Francisco, Calif.
In the meantime, tune in to the next Tax Credit Tuesday Podcast on April 19 to hear Michael J. Novogradac, CPA, discuss this topic and other breaking tax credit news.