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Senate Democrats Propose Overhaul of Clean Energy Incentives

By , , , , and on Apr 23, 2021
Posted In Project Development and Finance, Renewables, Tax, U.S. Congress

US Senate Finance Committee Chairman Ron Wyden (D-OR) introduced the Clean Energy for America Act (the Act), along with two dozen Democratic co-sponsors, on April 21, 2021. The Act will likely be a starting point for the Biden administration tax proposals intended to limit carbon emissions. The Act would change the current system for incentives...

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Final Section 468A Regulations Issued at Last

By and on Sep 11, 2020
Posted In Environmental, Tax

On September 4, 2020, the Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) published in the Federal Register final regulations under section 468A of the Internal Revenue Code (the Code) that address three issues raised by the nuclear electric industry concerning qualified nuclear decommissioning funds (“qualified funds”). These final regulations conclude a many...

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FERC Announces Tax Reform Actions and Eliminates Income Tax Allowance for Master Limited Partnerships

By and on Mar 23, 2018
Posted In FERC, Natural Gas, Power Markets, Project Development and Finance, Tax

FERC announced actions in response to the 2017 tax reform legislation and a revised income tax policy, which eliminates the income tax allowance for Master Limited Partnerships. Regulated entities should ensure that they comply with FERC’s orders regarding the treatment of income taxes and consider whether to file comments on the proposed rulemaking and notice...

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CDFI Fund Announces $7 Billion Allocation of New Markets Tax Credits

By and on Nov 29, 2016
Posted In Project Development and Finance, Renewables, Tax

On November 17, 2016, the US Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced the largest single round award of New Market Tax Credit (NMTC) allocations since the program’s creation in 2001. One hundred and twenty organizations, headquartered in 36 states, the District of Columbia and Puerto Rico, were awarded a...

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Comparison of Key Energy-Related Tax Provisions in the President’s 2015 Budget Proposal and the Camp and Baucus Proposals

By , , and on Apr 14, 2014
Posted In Renewables, Tax, U.S. Congress

President Obama’s recently released budget proposal for the 2015 fiscal year contains energy-related tax provisions that include a permanent extension of the production tax credit (PTC) and a provision making it refundable.  The recently released discussion draft of the Tax Reform Act of 2014 from House Ways and Means Committee Chairman Dave Camp also contains...

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Baucus Proposes Reforms to Energy Tax Incentives

By and on Dec 19, 2013
Posted In Environmental, Project Development and Finance, Renewables, Tax, U.S. Congress

Senate Finance Committee Chairman Max Baucus (D-MT) released a proposal on December 18 that would streamline energy tax incentives to make them more predictable and technology-neutral.  The proposal consolidates several different energy tax incentives into just two tax credits: one for electricity and one for transportation fuels.  The proposed provisions would allow facilities placed in...

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Mexican Energy Reforms Bring E&P Opportunities and Much More

By on Dec 17, 2013
Posted In Natural Gas, Project Development and Finance

Last week the Mexican Congress approved legislation including Constitutional amendments that were approved by the required number of Mexican states on December 16 that will bring changes to the nation’s energy laws that exploration and production companies have hoped for ever since Mexico nationalized the oil and natural gas industry in 1938.  But the legislature...

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D.C. Circuit Orders DOE to Stop Collecting Nuclear Waste Fee

By on Nov 21, 2013
Posted In Environmental

The D.C. Circuit issued an opinion this week in National Association of Regulatory Utility Commissioners v. United States Department of Energy ordering the Secretary of Energy to submit a proposal to Congress to change the nuclear waste fee to zero.  Tuesday’s decision was the most recent in a string of court cases following the Obama...

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