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Jones Day

New "Beginning of Construction" Guidelines Issued for Wind and Solar Tax Credits

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The Internal Revenue Service ("IRS") has issued Notice 2025-42 to implement the One Big Beautiful Bill Act ("OBBBA") mandate to phase out the clean electricity production tax credit (§ 45Y) and investment tax credit (§ 48E)...more

Troutman Pepper Locke

IRS Issues Beginning of Construction Guidance in Response to July Executive Order

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On August 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-42, which provides guidance on the beginning of construction requirement as it relates to the new credit termination...more

Troutman Pepper Locke

Tax Credit Implications of the One Big Beautiful Bill Act

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On May 22, the U.S. House of Representatives passed an amended version of H.R. 1—the One Big Beautiful Bill Act (the Bill) — by a vote of 215-214. The House-passed version of the bill, slated to be considered by the Senate...more

Paul Hastings LLP

House Bill Accelerates Phaseout of Clean Energy Tax Credits and Restricts Leasing and Transferability

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On May 22, 2025, the U.S. House of Representatives passed House Bill 1, officially titled the “One Big Beautiful Bill Act” (OBBBA). This budget reconciliation bill includes significant energy-related provisions that would...more

Hogan Lovells

The IRA’s transformative tax incentives for solar energy projects and manufacturing operations

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The Inflation Reduction Act (IRA), as passed by the House and Senate, is a major political achievement for the Biden Administration, Senate Majority Leader Chuck Schumer (D-NY), and Democrats of the 117th Congress. This is...more

Mayer Brown

US House Rules Committee Modifies the “Build Back Better Act”

Mayer Brown on

In less than a week, the Rules Committee of the US House of Representatives (the “Rules Committee”) released two versions of modified legislative text of H.R. 5376, the Build Back Better Act. The first version was released on...more

Holland & Knight LLP

The Green Book and Green Energy

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Since the beginning of his presidential campaign, President Joe Biden has made clear his vision to drive the United States toward world leadership in green energy. With tax policy long an important tool in the toolbox for...more

Hogan Lovells

Continued White House Support for Nuclear & Climate Initiatives Through FY22 Budget

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On May 28, 2021, President Biden submitted a proposed federal budget for Fiscal Year 2022  (FY22) that included a significant funding increase for clean energy initiatives. ...more

Eversheds Sutherland (US) LLP

FY 2022 Green Book goes big for green energy

On May 28, 2021, Treasury released the General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals, more commonly referred to as the Green Book. The issuance of the Green Book provides further detail on...more

Mayer Brown

Energy Tax Implications of the Administration’s FY2022 Budget Tax Proposals

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On May 28, 2021, the Biden administration (the “Administration”) released its FY2022 budget (the “Budget”), which includes proposed investments related to infrastructure, clean energy and research and development. Alongside...more

Mintz - ML Strategies

Energy & Sustainability Washington Updates - December 2019

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Congress returns to Washington the week of December 2 for a short work period of two weeks, although additional legislative days may be added to the calendar as the House and Senate work to conclude several matters before the...more

Mayer Brown

Bipartisan Budget Act Partially Reinstates Orphaned Energy Tax Credits

Mayer Brown on

The Bipartisan Budget Act of 2018 (H.R. 1892) (the “Act”) was enacted on February 9, 2018. The Act is a two-year budget agreement that includes a number of provisions extending lapsed renewable energy-related tax credits;...more

Bracewell LLP

Post-Election Update 2016

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The 2016 election results have significant implications for companies across a wide range of industry sectors. From environmental policy to financial services to tax reform, President-elect Trump has committed to sweeping...more

McDermott Will & Emery

Key Energy-Related Tax Provisions in the 2017 Budget Proposal

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Key Energy-Related Tax Provisions in the 2017 Budget Proposal - As in previous proposed budgets, President Obama’s recently released budget proposal for the 2017 fiscal year contains energy-related tax provisions that...more

Mintz - ML Strategies

Energy & Environment Update - October 2015 #2

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Energy and Climate Debate - Congress is in recess this week for the Columbus Day holiday, but will return next week with full schedules in both chambers. The House will focus heavily on the leadership race to...more

McDermott Will & Emery

Key Energy-Related Tax Provisions in the 2014 Budget Proposal

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President Obama’s recently released budget proposal for the 2014 fiscal year contains energy-related tax provisions that include a permanent extension of the renewable energy production tax credit (PTC) and a provision making...more

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