Tag: Treasury

Section 1603 Cash Grants for Renewable Energy Projects TeleBriefing

With the end of 2011 drawing near, many renewable energy developers are seeking to qualify their projects for the Section 1603 cash grant.  Developers continue to try to understand the complexities surrounding the grant requirements, especially the determination of when projects are considered to have met the “beginning construction” requirement. On August 24, I’ll moderate a Law Seminars … Continue Reading

Treasury Department Issues Additional Guidance Regarding Cash Grant Begin Construction Requirement

The U.S. Treasury Department today released on its website additional guidance regarding the "begin construction" requirement for qualifying for the 30% ARRA cash grant. To qualify for the grant, a project either must be placed in service in 2009 or 2010 or, if construction begins on or before December 31, 2010, must be placed in … Continue Reading

Upcoming Webinar: The Treasury Grant Program – Follow-up and Q&A

Join us for Structured Tax Incentives Part Deux! Our follow-up webinar will again include Vicky McDowell, Chief Administrator of the Treasury ITC Grant program. Unlike the first session, we will not use a formal presentation; instead, we will cover in greater detail the issues raised in your comments and will attempt to answer as many … Continue Reading

First Treasury Grants in Lieu of ITC Awarded

Treasury Secretary Tim Geithner and Energy Secretary Steven Chu announced the first awards of cash grants in lieu of the investment tax credit (ITC) today.  The total award value was over $502 million.  Recipients include projects in Colorado, Connecticut, Maine, Minnesota, New York, Oregon, Pennsylvania and Texas.  Click here for a detailed list of the awards … Continue Reading

Treasury Issues Guidance on Applications for Grants in Lieu of the ITC and the PTC

  The American Recovery and Reinvestment Act of 2009 (ARRA), which was enacted in February, permits an applicant to receive a grant from Treasury in lieu of claiming investment tax credits (ITCs) or production tax credits (PTCs). Today the U.S. Treasury Department issued much-anticipated guidance concerning applications to receive cash grants in lieu of claiming … Continue Reading

Treasury, Energy Announce More than $3 Billion in Recovery Act Funds for Renewable Energy Projects

  Today, the U.S. Department of the Treasury (the "Treasury") and the U.S. Department of Energy (the "DOE") announced an estimated $3 billion for the development of renewable energy projects around the country.  Funded through the American Recovery and Reinvestment Act ("ARRA"), the program will provide direct payments in lieu of tax credits in support of … Continue Reading
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