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Alerts
ENERGY ALERT: U.S. Departments Of Treasury And Energy Jointly Announce Program To Award $2.3 Billion In Tax Credits To Manufacturers Of Advanced Energy Equipment
August 14, 2009
Click here for the full PDF.
On August 13, 2009, the U.S. Departments of Treasury and Energy jointly announced a program to award $2.3 billion of tax credits to manufacturers of advanced energy equipment. The Treasury Department issued Notice 2009-72 (the “Notice”), a 73-page guidance document implementing the “qualifying advanced energy project program” (the “Program”). The Notice provides procedures for applying for rights to claim a 30 percent “qualified advanced energy project credit” under section 48C of the Internal Revenue Code. Section 48C was added to the Code by the American Reinvestment and Recovery Act of 2009 (“ARRA”). Taxpayers seeking allocations for the 2009-2010 round must submit a preliminary application by September 16, 2009.
Click here to download full alert [PDF].
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