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Renewable Energy Update October 2008Federal Tax Credits for Renewable EnergyRath | Young Update, October 3, 2008 Washington, DC Included in the financial system bailout bill (H.R. 1424) enacted last week are several important tax provisions affecting the renewable energy industry. Most importantly, the law extends for two years the placement-in-service deadline for most facility types to be eligible for the renewable electricity production tax credit under section 45. The extension is one year for wind and refined coal facilities. The new law also extends the 30% investment tax credit for certain energy projects for 8 years and adds a new 10% investment tax credit for certain combined heat and power projects.Our October 2008 Renewable Energy Update describes and explains some of the energy tax provisions of most interest to the renewable energy industry. To read this Update, please click on the link below (please note that this Update was prepared before the President signed the bill into law as P.L. 110-343).About the Rath, Young and Pignatelli Law FirmFounded in 1987, Rath, Young and Pignatelli was one of the first law firms in New England to recognize the importance of merging traditional law firm practice areas with legislative and public policy expertise. Through offices in New Hampshire and Boston, Rath, Young and Pignatelli serves domestic and international clients with the firm’s sophisticated legal expertise and commitment to achieving client success. |