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Monday, May 3, 2021

Ohio’s two U.S. senators introduced legislation to make linear generators eligible for the federal renewable energy investment tax credit. Sens. Sherrod Brown, D-Ohio, and Rob Portman, R-Ohio, introduced the Clean Energy Production Parity Act (S. 1485). Linear generation is a form of onsite power generation that can produce fuel from a variety of sources that include fossil fuels, natural gas, biomass, solar or wind. Linear generation does not meet the existing definition for qualified fuel cell property.

Monday, May 3, 2021

Sens. Edward Markey, D-Massachusetts, Roger Wicker, R-Mississippi, and Michael Bennet, D-Colorado, introduced legislation to make electrochromic glass eligible for federal renewable energy investment tax credit (ITC). The Dynamic Glass Act would qualify for the ITC the glass in properties that begin construction between the enactment of the bill and Jan. 1, 2024. 

Friday, April 30, 2021

Sen. John Hoeven, R-North Dakota, and Sen. Ron Wyden, D-Oregon, this week reintroduced the Move America Act to bring billions of dollars to grow and repair infrastructure through an expansion of private activity bonds and the creation of an infrastructure tax credit. S. 1403 would allocate Move America Bonds to states, based on population size. The legislation would allow smaller states the ability to trade in some or all of their bond allocation for federal tax credits at a 25% exchange rate

Thursday, April 22, 2021

The Iowa Department of Revenue adopted amendments to the state’s solar energy system tax credits, effective May 26. The rules pertain to the relationship between Iowa’s solar energy system tax credit and federal energy credits. They also include a table of Iowa tax credit rates based on the solar property involved, the calendar year that construction starts and when the property is placed in service.

Wednesday, April 21, 2021

Sen. Ron Wyden, D-Ore., and 24 Democratic senators introduced legislation to consolidate current energy tax incentives into emissions-based incentives that would be available to all energy technologies that meet emissions reduction goals. The Clean Energy for America Act would create a production tax credit of up to 2.5 cents per kilowatt hour or an investment tax credit of up to 30% for any new zero-emissions facility.

Wednesday, April 7, 2021

The U.S. Department of Treasury today released the Made in America Tax Plan report, providing additional details on the infrastructure plan announced March 31 by President Joe Biden’s administration. The description includes a statement that there would be “a marked increase in the resources available through the low-income housing tax credit [LIHTC] and other housing incentives,” but the report focuses on renewable energy provisions.

Wednesday, March 31, 2021

The Biden administration today released a fact sheet on its $2.25 trillion infrastructure proposal.

Tuesday, March 30, 2021

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.

Monday, March 29, 2021

Bipartisan legislation introduced in the U.S. Senate would give investors in a range of clean-energy projects the ability to form master limited partnerships (MLPs), putting them on level ground with investors in fossil fuel-based projects. The Financing Our Energy Future Act (S. 1034) would allow clean energy project investors to use a MLP structure, which gives those projects access to larger and more liquid sources of capital than currently available, making them effective at attracting private investment. 

Wednesday, March 10, 2021

Sen. Martin Heinrich, D-New Mexico, Sen. Susan Collins, R-Maine, and 10 other senators this week introduced legislation to modify the existing investment tax credit (ITC) for solar energy to include the deployment of energy storage. The Energy Storage Tax Incentive and Deployment Act of 2021 (S. 627) would add storage to ITC-eligible resources. An identical bill (H.R.

Tuesday, March 9, 2021

Sens. Michael Bennet, D-Colorado, and Amy Klobuchar, D-Minnesota, introduced legislation to update and expand the small wind investment tax credit (ITC). The Rural Wind Energy Modernization and Extension Act would strike the 100-kilowatt nameplate limitation for small wind systems and expand the maximum wind turbine size to 10 megawatts, change the definition of small wind to “distributed wind energy property,” and extend the ITC to cover 30% of a project’s costs until 2028 before phasing down to a permanent 10%. A companion bill was introduced in the House by Rep. Earl Blumenauer, D-Oregon.

Thursday, March 4, 2021

Legislation introduced in the House of Representatives would extend the renewable energy investment tax credit (ITC) for 10 years at a 30% rate. The Sunshine Forever Act (H.R. 1557), introduced by Rep. Charlie Crist, D-Florida, would extend the ITC through 2034 at the pre-phasedown rate of 30%. The ITC is now at 26% with further phasedown coming to 10% in 2024. The Sunshine Forever Act would reinstate the 30% credit for properties placed in service from 2021 through 2034.

Tuesday, March 2, 2021

Sen. Debbie Stabenow, D-Michigan, introduced legislation this week to provide a 30% tax credit for manufacturers to retool or build new facilities to produce advanced energy parts or technology. According to a press release by Stabenow’s office, the American Jobs in Energy Manufacturing Act would provide the tax credit to companies that make batteries, electric and fuel cell vehicles, semiconductor chips, components to produce renewable energy and more.

Thursday, February 25, 2021

A bill introduced in the Indiana House of Representatives would provide certainty and structure to the valuation of land when it is used for solar generation purposes. H.B. 1438 would formalize the land valuation method for assessments after Dec. 31, 2021, to include solar generation facilities in the definition of public utility companies, which are generally assessed more favorably than commercial or industrial facilities. This legislation would allow the Indiana Department of Local Government Finance to set median tax value for county assessors for three regions on an annual basis. 

Thursday, February 25, 2021

A bill was introduced in the Ohio Senate yesterday to extend the state’s payment in lieu of taxes (PILOT) program through 2030 for qualified renewable energy developments. S.B. 89 would also make the 8.5% renewable energy portfolio standards permanent.

Monday, February 8, 2021

Rep. Mike Thompson, D-California, and 24 co-sponsors reintroduced the Growing Renewable Energy and Efficiency Now (GREEN) Act, legislation that extends the renewable energy production tax credit (PTC) and investment tax credit (ITC) for certain resources, including wind and solar. The GREEN Act, which was also introduced in the previous session of Congress, would extend the 30% ITC for solar and geothermal through the end of 2025, before beginning a phasedown.

Thursday, December 31, 2020

The Internal Revenue Service (IRS) today issued guidance to provide an extension of the safe harbor for taxpayers who are developing renewable energy projects offshore or on federal land. Notice 2021-5 provides flexibility for taxpayers using the production tax credit (PTC) or investment tax credit (ITC) to finance their qualifying projects despite ordinary-course delays that threaten their ability to claim the credits.

Monday, December 28, 2020

President Donald J. Trump signed fiscal year 2021 spending legislation Sunday that includes a permanent minimum 4% low-income housing tax credit (LIHTC), a five-year extension of the new markets tax credit (NMTC) and extensions of renewable energy tax credits. The $1.4 trillion omnibus fiscal year spending legislation includes a $1.2 billion allocation of non-COVID disaster LIHTCs for 11 states and Puerto Rico, a one-year extension of the renewable energy production tax credit (PTC) at 60% of its original amount and a two-year extension of the renewable energy tax investment tax credit (ITC) at a 26% rate. The NMTC is now authorized through 2025. 

Monday, December 21, 2020

A permanent minimum 4% low-income housing tax credit (LIHTC) rate, a five-year extension of the new markets tax credit (NMTC) and an extension of phase-down provisions for the renewable energy investment tax credit (ITC) and production tax credit (PTC) are included in a $1.4 trillion omnibus fiscal year 2021 (FY 2021) spending and $900 billion COVID-19 relief bill that will be considered by Congress today. 

Monday, December 14, 2020

The Internal Revenue Service (IRS) today announced a new round of credits available for allocation under the Section 48A Qualifying Advanced Coal Project program. In IRS Notice 2020-88, the IRS says that $2.04 billion in credits is available for reallocation due to forfeitures of previously allocated credits.