Novogradac & Company LLP - Renewable Energy Tax Credit Center Breaking News

SAMPLE ANNUAL REPORT FOR SECTION1603 PROGRAM AVAILABLE

Fri, 27 Aug 2010 8:45:00 -0700

The Treasury Department yesterday posted a sample annual performance report and certification for the Section 1603 renewable energy tax credit cash grant program ...

DRAFT OF DOMESTIC MANUFACTURING AND ENERGY JOBS ACT OF 20100 RELEASED

Mon, 26 Jul 2010 16:45:00 -0700

Ways and Means Committee Chairman Rep. Sander Levin, D-Mich., released the draft legislative text of the Domestic Manufacturing and Energy Jobs Act of 2010 today ...

ACT INTRODUCED TO INCREASE PTC, TEBS FOR THERMAL ENERGY

Fri, 23 Jul 2010 1:15:00 -0700

Congresswoman Betty McCollum, D-Minn, and Sens. Al Franken, D-Minn., and Kit Bond, R-Mo., on July 21 introduced H.R. 5805, the Thermal Renewable Energy and Efficiency Act of 2010 ...

TREASURY PROVIDES MORE GUIDANCE ON BEGINNING OF CONSTRUCTION FOR SECTION 1603 PROGRAM

Tue, 29 Jun 2010 12:15:00 -0700

On June 25 the Treasury Department posted additional guidance regarding the regarding the beginning of construction and eligibility for the Section 1603 renewable energy tax credit cash grant program ...

ALASKA ESTABLISHES RENEWABLE ENERGY PRODUCTION TAX CREDIT

Wed, 16 Jun 2010 12:15:00 -0700

Gov. Sean Parnell signed two bills today to establish a statewide energy policy that will stimulate Alaska's economy by attracting renewable energy investment ...

EXTENSION OF SEC. 1603 GRANT PROPOSED FOR EXTENDERS BILL

Wed, 16 Jun 2010 12:15:00 -0700

Sen. Maria Cantwell, D-Wash., proposed an amendment to the pending tax extenders bill, that would extend Section 1603 renewable energy tax credit cash grant program through the end of 2012 ...

SENATORS INTRODUCE SEAM ACT TO EXPAND 48C TAX CREDITS

Fri, 7 May 2010 9:00:00 -0700

Sens. Sherrod Brown, D-Ohio, Charles Schumer, D-N.Y., Jeff Merkley, D-Ore., Robert Casey, D-Pa., and Kay Hagan, D-N.C., yesterday introduced legislation to expand and improve the Advanced Energy Manufacturing Tax Credit (48C) program ...

OHIO CONSIDERS WIND AND SOLAR TAX CHANGES

Mon, 26 Apr 2010 1:50:00 -0700

Lawmakers in Ohio are expected to consider two bills aimed at making Ohio's tangible personal property tax on generation for wind and solar projects competitive with other states ...

BILL INTRODUCED TO EXTEND ENERGY MANUFACTURING TAX CREDIT

Wed, 21 Apr 2010 11:55:00 -0700

Rep. Phil Hare, D-Ill., last week introduced H.R. 5041, the Security in Energy and Manufacturing (SEAM) Act, legislation to extend and improve the Advanced Energy Manufacturing Tax Credit program ...

CALIF. TO EXCLUDE SECTION 1603 GRANTS FROM TAXABLE INCOME

Fri, 9 Apr 2010 8:45:00 -0700

Lawmakers yesterday passed S.B. 401, a bill to conform state tax law to federal changes made since 2005 ...

GOVERNORS URGE EXPANSION OF SECTION 48C TAX CREDIT

Wed, 24 Mar 2010 12:25:00 -0700

A group of 19 governors this week sent a letter to President Barack Obama urging expansion of the Section 48C Advanced Energy Manufacturing Tax Credit that was created by the American Recovery and Reinvestment Act ...

OREGON GOV. SIGNS BETC REFORM BILL

Thur, 18 Mar 2010 17:45:00 -0700

Oregon Gov. Ted Kulongoski signed House Bill 3680 into law today, reforming the state�s business energy tax credit (BETC) program. ...

TREASURY UPDATES 1603 GUIDANCE ON BEGINNING OF CONSTRUCTION

Tue, 16 Mar 2010 8:45:00 -0700

The Treasury Department yesterday updated its program guidance for the Section 1603 renewable energy tax credit cash grant exchange program ...

BILL WOULD EXTEND, IMPROVE RECOVERY ACT ENERGY PROGRAM

Thu, 11 Mar 2010 10:35:00 -0700

The Department of Treasury and the Department of Energy yesterday released guidance on the tax treatment for grantees receiving Recovery Act funding under the $3.4 billion Smart Grid Investment Grant program ...

BILL WOULD EXTEND, IMPROVE RECOVERY ACT ENERGY PROGRAM

Mon, 15 Feb 2010 9:30:00 -0700

On February 4, Rep. Earl Blumenauer, D-Ore., introduced H.R. 4599, the Renewable Energy Expansion Act, a bill that allows taxpayers to elect to receive a tax credit that functions as a direct payment for investing in or producing renewable energy. ...

FEDERAL BUDGET PROPOSAL EXTENDS 48C MANUFACTURING TAX CREDIT

Mon, 01 Feb 2010 12:30:00 -0700

Today President Barack Obama transmitted the fiscal year (FY) 2011 proposed budget to the Congress, including a proposal to provide an additional $5 billion in credits for the Section 48C Advanced Energy Manufacturing Tax Credit. ...

DOE AWARDS $2.3 BILLION IN ENERGY MANUFACTURING TAX CREDITS

Fri, 8 Jan 2010 10:55:00 -0700

President Obama today announced the award of $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits for clean energy manufacturing projects ...

BILL WOULD EXTEND SECTION 1603 GRANT PROGRAM FOR TWO YEARS

Fri, 8 Jan 2010 9:10:00 -0700

Two renewable energy provisions included in the American Recovery and Reinvestment Act of 2009 may help shovel-ready community wind projects move ahead, according to a new report released yesterday by the U.S. Department of Energy's Lawrence Berkeley National Laboratory (LBNL) ...

BILL WOULD EXTEND SECTION 1603 GRANT PROGRAM FOR TWO YEARS

Mon, 21 Dec 2009 9:40:00 -0700

On December 17, Senators Dianne Feinstein, D-Calif., and Jeff Merkley, D-Ore., introduced a measure extend the Section 1603 program created by the Recovery Act for two additional years, until 2012 ...

WHITE HOUSE PROPOSES $5 BILLION MORE FOR SECTION 48C

Wed, 16 Dec 2009 2:10:00 -0700

Vice President Joseph Biden today introduced a proposal to revitalizing manufacturing that includes an expansion of the Section 48C renewable energy manufacturing tax credit ...

BINGAMAN PROPOSES EXPANSION OF QUALIFYING ADVANCED ENERGY PROJECT CREDIT

Thur, 10 Dec 2009 9:30:00 -0700

December 10, 2009 - Sen. Jeff Bingaman, D-N.M., yesterday introduced S. 2857, a bill to amend the Internal Revenue Code of 1986 to expand the qualifying advanced energy project credit ...

GRASSLEY BILL WOULD EXTEND ENERGY, BUSINESS TAX INCENTIVES

Fri, 4 Dec 2009 9:30:00 -0700

Sen. Chuck Grassley, R-Iowa, yesterday introduced the Clean Renewable Energy Advancement Tax Extension Jobs (CREATE Jobs) Act of 2009 ...

TAX CORRECTIONS ACT WOULD AMEND RENEWABLE ENERGY RULES

Thur, 3 Dec 2009 10:10:00 -0700

Ways and Means Committee Chairman Charles B. Rangel, D-N.Y., and Ranking Member Dave Camp, R-Mich., yesterday introduced H.R. 4169 ...

CONGRESSMAN CALLS FOR EXTENSION OF PRODUCTION TAX CREDIT FOR BIOMASS

Thur, 3 Dec 2009 9:10:00 -0700

In a letter to House leadership Rep. Mike Michaud, D-Maine, yesterday called for an extension of the production tax credit for renewable energy at biomass facilities. ...

TREASURY, IRS RELEASE 2009-2010 PRIORITY GUIDANCE PLAN

Tue, 24 Nov 2009 1:50:00 -0700

The Treasury Department and Internal Revenue Service (IRS) today released the 2009-2010 Priority Guidance Plan, which contains 315 projects that are scheduled for completion from July 2009 through June 2010 ...

TREASURY AWARDS $2.2 BILLION IN CLEAN RENEWABLE ENERGY BONDS

Tue, 27 Oct 2009 3:30:00 -0700

The U.S. Department of the Treasury today announced the allocation of $2.2 billion in Clean Renewable Energy Bonds (CREBs) for 805 governmental agencies, public power providers, and cooperative electric companies involved in clean renewable energy development and production ...

IRS INVITES COMMENTS ON SECTION 48C NOTICE

Tue, 22 Sep 2009 9:00:00 -0700

The Internal Revenue Service (IRS) today invites comments from the public about NOT 110859-09, Qualifying Advanced Energy Project Credit ...

IRS REVISES WIND ENERGY PARTNERSHIP GUIDANCE

Mon, 21 Sep 2009 9:00:00 -0700

The Internal Revenue Service today published Announcement 2009-69 making changes to Revenue Procedure 2007-65 ...

TREASURY, DOE ANNOUNCE $502 MILLION IN SECTION 1603 GRANTS

Tue, 1 Sep 2009 9:00:00 -0700

Treasury Secretary Tim Geithner and Energy Secretary Steven Chu today announced $502 million in the first round of awards from the Section 1603 program created by the Recovery Act, which provides cash assistance to energy production companies in place of earned tax credits ...

TREASURY, DOE ANNOUNCE $2.3 BILLION IN SEC. 48C TAX CREDITS

Thur, 13 Aug 2009 12:00:00 -0700

The Treasury Department and the Department of Energy today announced $2.3 billion in tax credits available through the Advanced Energy Manufacturing Tax Credit (MTC) program created by the Recovery Act ...

MEASURE WOULD CREATE NEW TAX EXEMPT BOND CATEGORIES FOR RENEWABLE ENERGY

Wed, 12 Aug 2009 9:00:00 -0700

Rep. Mike Thompson, D-Calif., on July 31 introduced H.B. 3525, the Private Activity Bonds for Clean Energy Projects Act ...

IRS INVITES COMMENTS ON NOTICE 2009-52

Fri, 7 Aug 2009 9:10:00 -0700

The Internal Revenue Service (IRS) today invited comments on Notice 2009-52, Election of Investment Tax Credit in Lieu of Production Tax Credit ...

TREASURY BEGINS ACCEPTING SECTION 1603 GRANT APPLICATIONS

Fri, 31 Jul 2009 11:30:00 -0700

The Treasury Department announced today that it is now accepting applications for the Section 1603 program ...

GUIDANCE POSTED ON GRANTS IN LIEU OF RENEWABLE ENERGY ITC

Thu, 9 Jul 2009 12:00:00 -0700

The Treasury Department today released guidance for the Section 1603 program created by the American Recovery and Reinvestment Act ...

GUIDANCE PUBLISHED ON RETC PROVISION OF RECOVERY ACT

Fri, 5 Jun 2009 14:00:00 -0700

The Internal Revenue Service (IRS) today in Notice 2009-52 provides a description of the procedures that taxpayers will be required to follow ...

IRS RELEASES FACT SHEET ON RECOVERY ACT'S ENERGY PROVISIONS

Wed, 13 Apr 2009 12:25:00 -0700

House Majority Leader Steny Hoyer, D-Md., yesterday introduced two bills to encourage investment in more efficient energy transmission ...

IRS RELEASES FACT SHEET ON RECOVERY ACT'S ENERGY PROVISIONS

Tues, 28 Apr 2009 12:25:00 -0700

The Internal Revenue Service (IRS) published a fact sheet on the energy provisions of the American Recovery and Reinvestment Act of 2009, including energy incentives for individuals and businesses ...

AMERICAN RECOVERY AND REINVESTMENT ACT SIGNED INTO LAW

Tues, 17 Feb 2009 10:05:00 -0700

President Barack Obama today signed into law the American Recovery and Reinvestment Act of 2009 at a signing ceremony held at the Denver Museum of Nature & Science ...

AGREEMENT ANNOUNCED ON RECOVERY LEGISLATION

Thur, 12 Feb 2009 10:05:00 -0700

Congressional conferees yesterday announced they had reached a tentative agreement on an economic recovery package ...

SENATE OKS RECOVERY BILL WITH LIHTC, NMTC, RETC PROVISIONS

Tues, 10 Feb 2009 10:05:00 -0700

The Senate today voted 61 to 37 to approve H.R. 1, the American Recovery and Reinvestment Act of 2009 ...

SENATE ECONOMIC RECOVERY PROPOSAL WOULD EXTEND RETC

Fri, 23 Jan 2009 9:05:00 -0700

The Senate Finance Committee today unveiled the details of its proposal for an economic recovery package ...

NMHC PUBLISHES GUIDANCE ON NEW ENERGY TAX CREDITS

Thu, 6 Nov 2008 9:05:00 -0700

The National Multi Housing Council announced that it has produced new guidance providing more information on legislation passed last month that extended several tax incentives for renewable energy ...

HOUSE APPROVES RESCUE BILL WITH RETC, NMTC, LIHTC PROVISIONS

Fri, 3 Oct 2008 11:15:00 -0700

The House today voted 263 to 171 to approve H.R. 1424, the Emergency Economic Stabilization Act of 2008, as amended by the Senate earlier this week ...

NMTC, RETC EXTENSIONS ADDED TO FINANCIAL RESCUE BILL

Wed, 01 October 2008 12:40:00 -0700

The Senate last night approved a unanimous consent agreement to attach a package of tax extenders to upcoming financial rescue legislation...

HOUSE VOTES TO EXTEND NMTC, RETCS

Thur, 26 September 2008 12:40:00 -0700

The House today approved H.R. 7060, Renewable Energy and Job Creation Tax Act of 2008, by a vote of 226-166...

SENATE VOTES TO EXTEND RENEWABLE ENERGY TAX CREDITS

Wed, 24 Sep 2008 10:40:00 -0700

The Senate yesterday approved by a vote of 93-2 a package of disaster relief measures and tax extenders...

SENATE MAY CONSIDER ENERGY TAX CREDIT EXTENSIONS THIS WEEK

Wed, 17 Sep 2008 09:40:00 -0700

Senate Finance Committee Chairman Max Baucus, D-Mont., and Ranking Member Chuck Grassley, R-Iowa, yesterday announced an agreement with the Senate�s Democratic and Republican leadership to move legislation...

SENATE FINANCE LEADERS INTRODUCE NEW ENERGY TAX PACKAGE

Thu, 11 Sep 2008 12:18:16 -0700

Senate Finance Committee Chairman Max Baucus, D-Mont., and Ranking Member Chuck Grassley, R-Iowa, today unveiled energy tax legislation that includes long-term extensions of wind and solar energy tax credits...

OCC APPROVES PRECEDENT SETTING RENEWABLE ENERGY INVESTMENT

Wed, 10 Sep 2008 12:18:16 -0700

A national bank may invest in limited liability entities each of which will develop, acquire, install and maintain solar energy-producing facilities and provide electricity for specified properties under the part 24 public welfare investment authority, according to recent guidance provided by the Office of the Comptroller of the Currency (OCC)...

SENATE TO CONSIDER RETC EXTENSIONS NEXT WEEK

Fri, 25 Jul 2008 11:38:26 -0700

Senate Finance Committee Chairman Max Baucus, D-Mont., yesterday introduced S. 3335, the Jobs, Energy, Families and Disaster Relief Act, a package of tax extenders that would extend and expand the production and investment tax credits for renewable energy ...

IRS UPDATES OPEN-LOOP BIOMASS GUIDANCE

Mon, 14 Jul 2008 11:38:26 -0700

Last month the Internal Revenue Service (IRS) published Notice 2008-60, which sets out guidance under Section 45 of the Internal Revenue Code (IRC) for electricity produced from certain renewable resources ...

IRS PUBLISHES 2008 INFLATION ADJUSTMENT FACTORS, REFERENCE PRICES

Mon, 27 May 2008 11:38:26 -0700

In Notice 2008-48, the Internal Revenue Service (IRS) set the inflation adjustment factors and reference prices for calendar year 2008 for the renewable electricity production credit, the refined coal production credit, and the Indian coal production credit under section 45 of the Internal Revenue Code ...

IRS RULING PROVIDES GUIDANCE FOR USING ENERGY TAX CREDITS IN BOND-FINANCED HOUSING PROJECTS

Mon, 21 May 2008 11:38:26 -0700

A recent private letter ruling (PLR) published by the Internal Revenue Service (IRS) provides guidance to affordable housing developers regarding how to structure bond-financed projects to maximize renewable energy investment tax credits available under Section 48 of the Internal Revenue Code ...

WAYS AND MEANS COMMITTEE APPROVES RETC EXTENSIONS

Mon, 15 May 2008 11:38:26 -0700

By a vote of 25-12 the House Ways and Means Committee today approved H.R. 6049, the Energy and Tax Extenders Act of 2008. The bill includes a six-year extension of the investment tax credit (ITC) for solar energy ...