IRS Releases 2024 Procedural Guidance for Solar and Wind Projects in Low Income Communities
Last week the Department of Treasury and Internal Revenue Services (IRS) issued procedural guidance for the second year of the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code (Code). The program created by the Inflation Reduction Act provides an increase…
Long Awaited Elective Payment Election Final Regulations and Other Guidance Issued by Treasury Department and IRS
On March 5, 2024, the U.S. Department of Treasury and Internal Revenue Services (IRS) released final regulations regarding the direct payment election under the Inflation Reduction Act of 2022 (IRA), a tax credit monetization opportunity for certain applicable entities such as state and local…
Solar Projects? It's Time for Governmental and Tax-Exempt Entities to File for Applicable Tax Credits
As provided for in the 2022 Inflation Reduction Act (or IRA), entities not subject to taxation such as cities, counties, municipal utilities, school districts and 501(c)(3) organizations (or tax-exempt entities) can now take direct advantage of tax credits (including the investment tax credit (or…
Arkansas Joins the Anti-Boycott Laws Wave – How will it Effect Public Finance?
April 19, 2023
by John S. Bryant
Introduction Over the past few years there has been a growing national trend of states enacting laws prohibiting public entities in those states from entering into contracts with companies that boycott or discriminate against the energy, fossil fuel, firearms, and ammunition industry. Since the…
Update Part 3: The Growing Trend of Anti-Boycott Laws and the Effect on Public Finance – Is Arkansas Next?
January 18, 2023
by John S. Bryant
We recently posted a note regarding the filing of Senate Bill 41 which would require the divestment of State and local public funds from financial services providers that “discriminate without a reasonable business purpose against a business that provides services or products to the energy, fossil…