As noted in yesterday’s post, the IRS published Notice 2022-61 regarding the prevailing wage & apprenticeship requirements. In addition, the Department of Labor yesterday issued two Frequently Asked Question (FAQ) documents: one on prevailing wage and the other one on apprenticeships. You’ll need to scroll down and click on the “+” signs to expand
The Clock Starts Now: IRS Issues Prevailing Wage & Apprenticeship Guidance under the IRA
The IRS has published a notice that will start the clock on the 60-day period respect to the applicability of the prevailing wage and apprenticeship requirements under numerous provisions of the Inflation Reduction Act of 2022 (the IRA). For a taxpayer to avoid application of the prevailing wage and apprenticeship requirements of the IRA, it…
The Inflation Reduction Act, Solar and REITs
The Inflation Reduction Act of 2022 (the “IRA”), which was signed into law on Tuesday, August 16, 2022, includes an investment of over $369 billion in energy security and climate change. There has been a lot of discussion about the extension of the investment tax credit (“ITC”) for solar and the provision that allows the…
The Green Energy Tax Incentives of the Inflation Reduction Act of 2022
Here is Mayer Brown’s Legal Update regarding some of the noteworthy proposals in the Inflation Reduction Act of 2022 that related to green energy.
Manchin’s BBB Redux-tion Act – The Inflation Reduction Act of 2022
Last night, after weeks of negotiations, Senators Manchin and Schumer reached a deal on an energy and healthcare bill titled the Inflation Reduction Act of 2022 (the “Act”). The Act includes extensive provisions relating to a range of green energy tax incentives. While these provisions largely track the corresponding provisions in the previously released Build…
US House Rules Committee Modifies the “Build Back Better Act”
Read about the recent changes to the proposed “Build Back Better Act” by the US House Rules Committee, including some important changes to green energy tax incentives, in this Legal Update.
Illinois Enacts Comprehensive Climate and Clean Energy Legislation
Read about Illinois’ substantial new climate and energy legislative package in this Legal Update authored by my Mayer Brown colleagues, Nadav Klugman, Joe Seliga and Casey Williams.
US House Ways and Means Committee Proposes Substantial Green Energy Support
On the night of September 10, 2021, the House Ways and Means Committee released legislative text covering a range of green energy tax incentives, a bill that it hopes will be enacted through the budget reconciliation process and it expects to begin markup of on Tuesday, September 14. This Legal Update provides further detail on …
Biden Administration Budget: Energy Tax Proposals
Read about the Energy Tax Proposals in the Biden Administration’s 2022 Budget in this Legal Update: Energy Tax Implications of the Administration’s FY2022 Budget Tax Proposals | Perspectives & Events | Mayer Brown.
SEIA Asks for Extension to Continuity Safe Harbor
In an April 12, 2021 letter to Treasury Secretary Yellen, the Solar Energy Industries Association (SEIA) has asked for an extension of the so-called “continuity safe harbor” under the beginning of construction rules under IRS Notice 2018-59. …
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