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Section 45 announcement
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • May 20 2012

On May 21, the Internal Revenue Service will publish Notice 2012-35, in Internal Revenue Bulletin 2012-21, to provide inflation adjustment factors and reference prices for determining, under section 45 of the tax code, the availability of renewable electricity production, refined coal production, and Indian coal production credits for the calendar year 2012


Legislation introduced
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • May 20 2012

Senators Sherrod Brown (D-OH) and Chuck Schumer (D-NY) introduced legislation (S. 3183) May 15 to prevent Chinese solar panel manufacturers from benefiting from American tax credits


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


Vilsack reaffirms commitment to biofuel tax breaks
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • June 3 2012

On May 31, Agriculture Secretary Thomas Vilsack said the Obama administration remains seriously committed to extending the biofuel tax breaks, even though the provisions were left off the White House’s congressional “to-do” list


CRS study of wind PTC
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • July 1 2012

On June 20, the Congressional Research Service released U.S. Renewable Electricity: How Does the Production Tax Credit (PTC) Impact Wind Markets?, which found that extending the 2.2-cent-per-kilowatt-hour production tax credit for the wind industry may not result in greater long-term wind power generation capacity, given natural gas prices and state renewable portfolio standards


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


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

Representatives Bill Pascrell and Brian Bilbray introduced legislation (H.R. 4953) April 26 that would provide a tax credit to renewable chemical producers


Performance-based credits preferable
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • May 6 2012

The Government Accountability Office released a report May 2 finding that a performance-based tax credit for homeowners who invest in energy efficiency measures would more likely reduce energy consumption and emissions than a cost-based credit would, but that it would be more costly


Oil recovery tax credit revamp
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • March 4 2012

The National Enhanced Oil Recovery Initiative released a report February 28 calling on Congress to overhaul the $10ton tax credit that rewards oil recovery sites that store carbon dioxide