HomeMy WebLinkAbout061423 FW_ Elective Pay and Transferability Proposed Guidance
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From: White House Intergovernmental Affairs
Sent: Wednesday, June 14, 2023 2:35:44 PM (UTC-08:00) Pacific Time (US & Canada)
To: Heidi Eisenhour
Subject: Elective Pay and Transferability Proposed Guidance
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June 14, 2023
U.S. Department of the Treasury, IRS Release Guidance on Provisions to Expand Reach of Clean Energy Tax Credits Through President Biden’s Investing in America Agenda
Today, Treasury and the IRS issued proposed guidance on elective pay and transferability mechanisms established under the Inflation Reduction Act that will help State, local, Tribal
and territory governments, non-profits, and other eligible entities access clean energy tax credits.
The proposed elective pay regulations can be found here <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=b3719c15aa&e=1b00b68fe6> and transferability
here <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=6e4371254a&e=1b00b68fe6> . In addition to the Treasury press release <https://whitehouse.us10.list-manage.com
/track/click?u=f620288bb41dd81f9c715ef4d&id=b630daa263&e=1b00b68fe6> , you can find FAQs <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=14b2e4bf48&e=1b00b68fe6>
and fact sheets <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=36b359a4d3&e=1b00b68fe6> that outline key information contained in the proposed
guidance. You can also find helpful information on CleanEnergy.gov/directpay <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=ccda3694a4&e=1b00b68fe6>
.
Treasury and the White House will host two stakeholder briefings on today’s guidance. These virtual briefings are open to all stakeholders – please share with your networks.
Register in advance for these briefings
* Thursday, June 15th at 12 noon ET/9 am PT: Register here <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=6078ff2afa&e=1b00b68fe6>
* Thursday, June 29th at 3 pm ET/12 noon PT: Register here <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=e200887358&e=1b00b68fe6>
The proposed rules for elective pay and transferability will each be open for public comment for 60 days, (until August 14), and the IRS plans to hold public hearings later this summer
to provide further opportunity for stakeholders to comment.
Additional Resources
CleanEnergy.gov Landing Page
* www.cleanenergy.gov/directpay <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=430374d781&e=1b00b68fe6>
U.S. Department of Treasury Press Release
* U.S. Department of the Treasury, IRS Release Guidance on Provisions to Expand Reach of Clean Energy Tax Credits Through President Biden’s Investing in America Agenda | U.S. Department
of the Treasury <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=5ec2ed5185&e=1b00b68fe6>
Guidance
* Federal Register: Section 6417 Elective Payment of Applicable Credits <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=ff4b49ad19&e=1b00b68fe6>
* Direct link to PDF: 2023-12798.pdf (federalregister.gov) <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=e9027c2a41&e=1b00b68fe6>
* Federal Register: Section 6418 Transfer of Certain Credits <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=37013db196&e=1b00b68fe6>
* Direct link to PDF: 2023-12799.pdf (federalregister.gov) <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=1600f6c7fc&e=1b00b68fe6>
* Federal Register: Pre-Filing Registration Requirements for Certain Tax Credit Elections <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=90f9fca5f5&e=1b00b68fe6>
* Direct link to PDF: 2023-12797.pdf (federalregister.gov) <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=e725d52bf9&e=1b00b68fe6>
* Federal Register: Elective Payment of Advanced Manufacturing Investment Credit <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=594e0c6b23&e=1b00b68fe6>
FAQs
Elective Pay and Transferability Frequently Asked Questions <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=19e2d74ec9&e=1b00b68fe6>
IRS Elective Pay Landing Page
Elective Pay and Transferability <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=b0b768c993&e=1b00b68fe6>
Fact Sheets
Publication 5817 - Elective Pay Overview <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=be52126c24&e=1b00b68fe6>
Publication 5817f - Indian Tribal Governments <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=02f0acf575&e=1b00b68fe6>
Publication 5817c - Alaska Native Corporations <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=1050c0236a&e=1b00b68fe6>
Publication 5817a - Rural Electric Cooperatives <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=d1900ce5dc&e=1b00b68fe6>
Publication 5817b U.S. Territorial Governments <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=55e81d5c8a&e=1b00b68fe6>
Publication 5817d - Tax-Exempt Organizations <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=f56510d057&e=1b00b68fe6>
Publication 5817e State and Local Government <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=2ab7d5b44b&e=1b00b68fe6>
Elective Pay Applicable Credits (Summary chart with the credits that are eligible for elective pay)
Publication 5817g - Elective Pay Clean Energy Credits <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=706f228739&e=1b00b68fe6>
Privacy Policy <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=14c3d2fda5&e=1b00b68fe6> | Unsubscribe <https://whitehouse.us10.list-manage.com/unsubscribe?u=f6202
88bb41dd81f9c715ef4d&id=5a123a7e46&e=1b00b68fe6&c=65e8e0295d>
Office of Intergovernmental Affairs · 1600 Pennsylvania Ave NW · Washington, DC 20500-0005 · USA · 202-456-1111
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