Recipients of Section 1603 cash grants are required by the Terms and Conditions of the program to provide annual project performance reports to the Treasury Department for the first five years after the project is placed in service. Beginning May 13, 2013, the Treasury Department will have a modified annual report form for its online reporting system. This modified annual report will include the following new questions:
In section 2, all awardees must answer a question about whether the owner of the energy property has filed for bankruptcy. In section 4, all awardees must answer questions about whether the energy property has stopped producing and any actions taken to resume production. In section 1, awardees who have sold the energy property to an eligible purchaser must upload the written agreement between the awardee and the eligible purchaser to be jointly liable for any recapture.
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