On July 4, 2025, President Trump signed the “One Big Beautiful Bill Act” (H.R. 1 119th Congress) (“OBBB”) into law. OBBB made changes to various tax provisions – including tax rates, modification of treatment of state and...more
7/8/2025
/ Clean Energy ,
Energy Policy ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
New Legislation ,
Popular ,
Regulatory Requirements ,
Renewable Energy ,
Tax Credits ,
Tax Reform ,
Trump Administration ,
U.S. Treasury
In the afternoon of June 16, 2025, the Senate Finance Committee (“SFC”) released its proposed legislative text of the tax title for the “One Big Beautiful Bill,” H.R. Con. Res. 14, 119th Cong. (2025) (the “Reconciliation...more
After an intense 21-hour House Rules Committee markup, early in the morning of May 22, 2025, the House passed H.R. Con. Res. 14, 119th Cong. (2025) (the “Reconciliation Bill”), which makes significant revisions to the...more
Early this morning, the House Ways and Means Committee (the “Ways and Means Committee”) approved its recently proposed markup of H.R. Con. Res. 14, 119th Cong. (2025) (the “Reconciliation Bill”). Among many other items, this...more
On January 7, 2025, the U.S. Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (T.D. 10024) (the “Final Regulations” and the preamble thereto, the...more
1/17/2025
/ Clean Energy ,
Energy Sector ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Regulatory Agenda ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
On January 10, 2024, the Department of the Treasury (“Treasury”) published the final regulations governing the section 45V Clean Hydrogen Production Tax Credit (“Final Regulations”). The Final Regulations tackle many of the...more
1/16/2025
/ Carbon Emissions ,
Clean Energy ,
Climate Change ,
Energy Sector ,
Final Rules ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Production Tax Credit ,
Renewable Energy ,
Sustainability ,
Tax Credits ,
U.S. Treasury
On October 24, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (the “Final 45X Regulations”) regarding the Advanced Manufacturing Production Tax...more
As Vinson & Elkins prepares to host its “Energy Transition and IRA Conference” in New York on November 7, 2024 (just two days after the upcoming presidential election), we ask ourselves, where have we been and where might we...more
10/29/2024
/ Apprenticeships ,
Brokers ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Tax Equity
On September 18, 2024, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) (1) issued proposed regulations (the “Proposed Regulations”) providing guidance to taxpayers on the Alternative...more
9/26/2024
/ Biofuel ,
Charging Stations ,
Electric Vehicles ,
Inflation Reduction Act (IRA) ,
Investment ,
IRS ,
Proposed Regulation ,
Renewable Energy ,
Renewable Fuel Standard ,
Tax Credits ,
U.S. Treasury
The domestic content bonus is one of the Inflation Reduction Act’s most powerful tax incentives, but so far is proving to be one of the most difficult to earn. The Treasury Department and IRS released Notice...more
On June 18, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (T.D. 9998) (the “Final Regulations”) regarding compliance with the prevailing wage...more
7/16/2024
/ Apprenticeships ,
Construction Industry ,
Contractors ,
Davis-Bacon Act ,
Department of Labor (DOL) ,
Energy Projects ,
Federal Contractors ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Penalties ,
Prevailing Wages ,
Recordkeeping Requirements ,
Reporting Requirements ,
Tax Credits ,
U.S. Treasury
On May 29, 2024, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations (REG-119283-23) (the “proposed regulations”) regarding the clean electricity production...more
6/5/2024
/ Department of Energy (DOE) ,
Energy Projects ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Energy Incentives ,
Tax Credits ,
U.S. Treasury
On May 16, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued Notice 2024-41 (the “Notice”), which provides supplemental guidance on the domestic content bonus credit...more
On March 5, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (the “Final Direct Pay Regulations”) regarding the direct pay election for certain tax...more