The Treasury Department’s energy accounts are being reduced by 5 percent for the remainder of Fiscal Year 2013, as a result of sequestration. The Office of Management and Budget (OMB) identified the following cuts:

  • Grants for Specified Energy Property in Lieu of Tax Credits (Sect. 1603) cut 5.1% ($187 million from $3,671 million)
  • Payment to Issuer of New Clean Renewable Energy Bonds cut 5.1% ($1 million from $24 million)
  • Payment to Issuer of Qualified Energy Conservation Bonds cut 5.1% ($2 million from $32 million)