The Treasury Department has released additional guidance on payments for specified energy property in lieu of tax credits under Section 1603 of the American Reinvestment and Recovery Act of 2009.
The guidance is in the form of questions and answers and provides additional guidance on:
- Application Procedures (Questions 1-16)
- Applicant Eligibility (Questions 17-26)
- Property Eligibility (Questions 27-31)
- Use of Awarded Funds (Questions 32-33); and
- Eligible Basis (Questions 34-35)