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Congress wishes the renewable energy industry a merry Christmas, but more remains to be done
  • Reed Smith LLP
  • USA
  • December 20 2010

On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the "Job Creation Act"), extending for one year the cash grant program for renewable energy projects, which was initially enacted as part of the American Recovery and Reinvestment Act of 2009 (the "Recovery Act").


Treasury Department issues surprising new guidance allowing cash grants in connection with leases of renewable energy property to tax-exempt entities
  • Reed Smith LLP
  • USA
  • February 11 2010

The Treasury Department recently issued additional guidance (the "Guidance") that permits the owner of renewable energy property to qualify for a cash grant under section 1603 of the American Recovery and Reinvestment Act of 2009 (the "Cash Grant"), even if the property is leased to a tax-exempt entity such as a hospital or a municipality.


Proposed legislation would provide exemption from passive activity limitations for qualified wind facilities, extend cash grants in lieu of tax credits
  • Reed Smith LLP
  • USA
  • July 28 2009

Legislation is currently pending before the House Ways and Means Committee which would provide a partial fix to a technical tax flaw that is limiting investment in the renewable energy sector, notwithstanding provisions enacted as part of the American Recovery and Reinvestment Act of 2009 (the "Recovery Act") to encourage such investment.


Treasury Department issues guidance on electing cash grants in lieu of production or investment tax credits
  • Reed Smith LLP
  • USA
  • July 14 2009

The American Recovery and Reinvestment Act of 2009 (the "Recovery Act") included a number of significant changes affecting businesses engaged in the renewable energy market.


Technical tax flaw may be preventing the Recovery Act from accomplishing its objective in the marketplace
  • Reed Smith LLP
  • USA
  • May 13 2009

Reed Smith's renewable energy practice group recently submitted a proposal to the Obama administration that is designed to increase the pool of potential tax equity investors for renewable energy clients.



Ellen L. Bastier
  • Reed Smith LLP