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Energy and climate debate - March 11, 2012

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • March 11 2012

The energy debate continued this week, with a number of high profile issues making headlines in the Senate, reviews and critiques of the president’s budget request occupying significant committee hearing time, and the administration repeating its call for an all of the above energy strategy

Wind PPA tax rule

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • April 15 2012

The Internal Revenue Service issued Private Letter Ruling 201214007 April 6, concluding that where a taxpayer purchased wind energy facilities accompanied by facility-specific Power Purchase Agreements, no portion of the purchase price need be allocated to the PPAs as a separate asset

Letters pushed

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • December 11 2011

As Congress prepares to consider tax extenders legislation at the end of the year, Senators and Representatives are preparing a number of letters in support of energy tax programs that will expire at the end of the year unless extended

CRS fossil fuels subsidy report

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • March 11 2012

The Congressional Research Service released a report March 5 finding that after years of resistance, the atmosphere could be changing enough for Congress to repeal tax breaks for oil and gas industry

Coburn plan calls for $1 trillion purge of tax expenditures

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • July 24 2011

On July 18, Sen. Tom Coburn (R-OK) unveiled Back in Black: A Deficit Reduction Plan, a purported $9 trillion deficit reduction plan offered which includes cuts to $962 billion of wide-ranging tax expenditures over ten years

Tax equity partnerships

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • March 18 2012

Energy Secretary Steven Chu met with senior business executives at a summit March 13 to discuss the use of tax equity partnerships to finance renewable energy projects

Senators send energy tax letter

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • February 19 2012

Senators Olympia Snowe (R-ME), Jeff Bingaman (D-NM), Dianne Feinstein (D-CA), John Kerry (D-MA), Maria Cantwell (D-WA), and Tom Carper (D-DE) sent a letter to Treasury Secretary Tim Geithner and Acting Director of the Office of Management and Budget Jeffrey Zients February 10 encouraging them to advance tax policies that improve energy efficiency and support clean energy incentives

NY budget

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • April 22 2012

New York Governor Andrew Cuomo (D) recently signed the state’s budget bill (S.B. 6259), extending, among other things, the sunset date on alternative fuel incentives from this September, to September 1, 2014

Tax deduction records requested

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • May 6 2012

House Ways and Means Subcommittee on Oversight Chairman Charles Boustany requested documents and information May 3 to investigate whether departments require contractors to pay back percentages of an energy efficiency tax deduction

IA RE credits

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • June 3 2012

Iowa Governor Terry Branstad (R) signed legislation May 25 to create income tax credits for residents who install solar or geothermal energy systems in their homes