News & Analysis as of

Greenhouse Gas Emissions Internal Revenue Code (IRC) Climate Change

Orrick, Herrington & Sutcliffe LLP

Treasury and IRS Release Guidance on Clean Fuel Production Credit

The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) have released a notice of intent to propose regulations and a notice providing the annual emissions rate table for the Clean Fuel...more

Husch Blackwell LLP

Legal Perspectives On CO2-EOR and CCS

Husch Blackwell LLP on

In recent years, the importance of carbon capture technology has grown significantly as a means to combat climate change. With the emergence and advancement of geologic technologies, and their application in the energy...more

K&L Gates LLP

Department of the Treasury and the Internal Revenue Service Issue Final Regulations on Section 45V Clean Hydrogen Production Tax...

K&L Gates LLP on

On 3 January 2025, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations (Final Rules) implementing the Section 45V Clean Hydrogen Production Tax Credit (Section 45V tax...more

Pillsbury Winthrop Shaw Pittman LLP

Initial Guidance on Clean Fuel Production Credit Under IRC Section 45Z

On January 10, 2025, the Internal Revenue Service (IRS) issued Notice 2025-10 and Notice 2025-11. Notice 2025-10 summarizes proposed regulations (Proposed Regulations) that Treasury and the IRS plan to issue with respect to...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Final Regulations for Tech-Neutral Clean Electricity Production and Investment Tax Credits

On January 7, 2025, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released Final Regulations (the Final Regulations) regarding clean electricity production tax credits and clean...more

Vinson & Elkins LLP

Final Hydrogen Regulations Provide Multiple Paths for Production, But The Three Pillars and Other Obstacles Remain

Vinson & Elkins LLP on

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

Jones Day

Final Regulations Issued in Final Days of Congress: Clean Hydrogen Production Tax Credit

Jones Day on

The Department of Treasury and the Internal Revenue Service issued final regulations regarding the Section 45V clean hydrogen production credit....more

Husch Blackwell LLP

Carbon Capture: Tax Impacts of Utilization & Storage

Husch Blackwell LLP on

One promising solution to climate change is Carbon Capture, Utilization and Storage (“CCUS”). CCUS involves capturing carbon oxides, primarily carbon dioxide (CO2), for permanent storage or potential utilization. Interest in...more

Holland & Knight LLP

Guidance, Model Provide Additional Clarity for 40B Sustainable Aviation Fuel Tax Credit

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS released Notice 2024-37 on April 30, 2024, regarding the Sustainable Aviation Fuel (SAF) Tax Credit found at Section 40B of the Internal Revenue Code as an income tax credit and...more

Foley Hoag LLP - Energy & Climate Counsel

IRS Issues Guidance and Requests Comment on Provisional Emission Rate Process for Hydrogen Tax Credit

On April 10, 2024, Department of Treasury and the Internal Revenue Service (collectively, “IRS”) issued further guidance on the “Provisional Emission Rate” or “PER” process for the Inflation Reduction Act’s (“IRA”) Hydrogen...more

Holland & Knight LLP

Breaking Down the Section 45V Clean Hydrogen PTC Proposed Regulations

Holland & Knight LLP on

The U.S. Department of the Treasury and the IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the...more

Bricker Graydon LLP

Ohio General Assembly Modifies Tax Abatements for Renewable Projects

Bricker Graydon LLP on

The primary property tax abatement used by renewable energy projects in Ohio is the Qualified Energy Project (QEP). Originally passed in 2010 (128-SB-232), the QEP program enables qualifying projects to receive an abatement...more

Bracewell LLP

GREEN Act Update

Bracewell LLP on

House Democrats today released their long-awaited package of clean energy tax incentives, the Growing Renewable Energy and Efficiency Now (GREEN) Act. In a release accompanying the legislative text and section-by-section...more

Mintz - ML Strategies

Energy & Environment Update - July 2015 #3

Mintz - ML Strategies on

Energy and Climate Debate - With just two or three weeks before the August recess – two for the House, three for the Senate – Congress has a full schedule. The Senate will devote much of this week to the Highway bill,...more

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