{"id":56488,"date":"2023-02-13T12:33:27","date_gmt":"2023-02-13T20:33:27","guid":{"rendered":"https:\/\/lapost.us\/?p=56488"},"modified":"2023-02-13T12:44:03","modified_gmt":"2023-02-13T20:44:03","slug":"treasury-and-irs-provide-guidance-on-energy-projects-for-low-income-communities","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=56488","title":{"rendered":"Treasury and IRS provide guidance on energy projects for low-income communities"},"content":{"rendered":"<p>IR-2023-26, <strong>Feb. 13, 2023,\u00a0WASHINGTON<\/strong> \u2014 The Department of the Treasury and the Internal Revenue Service today provided guidance to establish a program to provide solar and wind power to certain low-income areas under the Inflation Reduction Act.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/n-23-17.pdf\">Notice 2023-17<\/a> establishes the Low-Income Communities Bonus Credit Program and provides initial guidance for potential applicants for allocations of calendar year 2023 capacity limitation.<\/p>\n<p>&nbsp;<\/p>\n<p>This initial guidance provides the general eligibility requirements, a description of the four statutory facility categories for which an eligible facility may request an allocation, amounts of capacity limitation reserved for each facility category, a general description of the program design and goals, the application review process, and the proposed timeline for opening two 60-day application periods in 2023 based on project categories.<\/p>\n<p>&nbsp;<\/p>\n<p>This guidance applies to owners of certain solar and wind facilities placed in service in connection with low-income communities that are eligible for the section 48 energy investment credit.<\/p>\n<p>&nbsp;<\/p>\n<p>The Treasury Department and the IRS will issue additional program guidance outlining specific application procedures, applicable definitions, and other information necessary to submit an application.<\/p>\n<p>&nbsp;<\/p>\n<p>More information may be found on the <a href=\"https:\/\/www.irs.gov\/inflation-reduction-act-of-2022\">Inflation Reduction Act of 2022 page<\/a> on IRS.gov.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IR-2023-26, Feb. 13, 2023,\u00a0WASHINGTON \u2014 The&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-56488","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/56488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56488"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/56488\/revisions"}],"predecessor-version":[{"id":56489,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/56488\/revisions\/56489"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}