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Final Section 468A Regulations Issued at Last

On September 4, 2020, the Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) published in the Federal Register final regulations under section 468A of the Internal Revenue Code (the Code) that address three issues raised by the nuclear electric industry concerning qualified nuclear decommissioning funds ("qualified funds"). These final regulations conclude a many years-long regulation project to clarify the rules relating to decommissioning costs and self-dealing rules. McDermott submitted multiple sets of comments throughout the process, and Marty Pugh provided vital testimony during an IRS hearing on the proposed regulations. Access the full article here.

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UK Government Takes Further Steps Towards Increasing Nuclear Energy Capabilities

by Charlotte Doerr The 2008 Nuclear White Paper issued by the UK Government’s Department for Business, Innovation and Skills, (which, at the time, was known as the Department of Business Enterprise & Regulatory Reform), stated that nuclear energy, in addition to other low-carbon sources, would play an increasingly important role in the future energy mix of the country.  The current UK Government has remained committed to the development of new build nuclear projects; notwithstanding the Fukushima disaster in March 2011, which caused other European countries to revisit – and in some cases abandon - their support for nuclear energy. On December 8, 2011, the UK Government continued its drive towards encouraging investment in new nuclear plants in the UK. The Department of Energy and Climate Change (DECC) introduced statutory guidance on the price of disposal of nuclear waste paid by new nuclear operators and on the content of new...

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