Tag Archives: Section 1603 grant

Court Awards $206 Million to Alta Wind Projects in Section 1603 Grant Litigation

The US Court of Federal Claims awarded damages of more than $206 million to the Plaintiffs in a case with respect to the cash grant program under Section 1603 of the American Recovery and Reinvestment Act of 2009 (the Section 1603 Grant). In its opinion, which was unsealed on Monday, October 31, the Court held … Continue Reading

IRS Issues Additional Guidance on When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

by Gale E. Chan, Martha Groves Pugh, Philip Tingle, Madeline Chiampou Tully and Amy E. Drake,  The Internal Revenue Service (IRS) has issued additional guidance relating to when construction begins with respect to wind and other qualified facilities for purposes of the production tax credit and investment tax credit. This guidance focuses on the continuous construction … Continue Reading

IRS Updates Notice Determining When Construction Begins for Purposes of the Production Tax Credit and Investment Tax Credit

by Gale Chan, Martha Groves Pugh and Philip Tingle Last week, we reported that the Internal Revenue Service (IRS) issued Notice 2013-29 (Notice) to to provide guidance on eligibility for the production tax credit (PTC) and investment tax credit (ITC). On April 25, 2013, the Internal Revenue Service (IRS) updated the Notice. Under the IRS’s additional guidance, … Continue Reading

IRS Determines When “Construction Begins” for Purposes of Production Tax Credit and Investment Tax Credit

by Gale Chan, Martha Groves Pugh and Philip Tingle The Internal Revenue Service (IRS) issued Notice 2013-29 to provide guidance on eligibility for the production tax credit (PTC) and the investment tax credit (ITC). Under the most recent extension of the PTC and ITC, enacted by Congress on January 1, 2013, a renewable energy facility must … Continue Reading

The IRS Retains Control of Tax Issues Relating to the Section 1603 Grant

by Madeline M. Chiampou and Brian Levy The Internal Revenue Service (IRS) recently set forth a set of questions and answers about the federal income tax consequences related to the receipt of a Section 1603 grant in lieu of investment tax credits for renewable energy projects in Notice 2012-23. While none of the guidance provided in this … Continue Reading
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