Last night, US Congressional leaders announced an agreement on a $900 billion COVID relief bill. While the text of the bill has not been released as of this writing, people familiar with the negotiations have indicated that the deal will extend renewable energy tax credits for wind and solar projects and the Section 45Q carbon
Jeffrey G. Davis is a partner in the Tax Transactions & Consulting group in Mayer Brown’s Washington DC office and is a co-head of the firm’s Renewable Energy group. Jeff represents major corporations, financial institutions and private equity funds on a wide range of US federal income tax matters. His practice focuses on partnership tax, tax credits and other incentives, and project finance and development.
In light of project delays caused by the COVID-19 pandemic, the US Department of Treasury plans to modify the rules regarding the continuity safe harbor for the start-of-construction rules under Treasury guidance for the production tax credit (PTC) and energy investment tax credit (ITC).
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