Tuesday, February 5, 2013

House Members Ask for Wind PTC Clarification

Thirty members of the U.S. House of Representatives Sustainable Energy and Environment Coalition (SEEC) have sent a letter to the Internal Revenue Service (IRS) and Department of the Treasury encouraging them to act swiftly in issuing guidance to clarify the eligibility qualifications for the renewable energy tax credit that was extended in the American Taxpayer Relief Act. Lawmakers extended the renewable energy production tax credit (PTC) as part of the “fiscal cliff” deal signed into law on January 2, 2013.  This extension altered the language of the PTC to apply to projects that have “commenced construction” instead of projects that have been “placed-in-service.”

Source: House of Representatives SEEC

No comments: