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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Energy

Date & Time
  • event Date

    Tuesday, September 17, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE webinar will provide attorneys, developers, and investors guidance on the process and eligibility for transferability of energy tax credits under current U.S. tax law, methods for making valid transfers, rules for transferors and transferees, challenges, and key considerations.

Faculty

Martha G. Pugh
Partner
K&L Gates, LLP

Ms. Pugh is a corporate tax partner in the firm's Power practice group, working with our team of tax partners and associates who focus on energy transition tax credits, including production and investment tax credits for renewable power generation, energy storage, advanced manufacturing, green hydrogen, and other projects. She has been heavily involved in developing opportunities arising out of the Inflation Reduction Act of 2022, including bonus credits and new tax credits. Ms. Pugh counsels renewable energy clients on the structuring of acquisitions, dispositions, and joint ventures, and represents developers and investors in tax equity transactions and tax credit transfers.

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Benjamin Haas
General Tax Counsel, Managing Tax Director, Federal Tax Planning & Policy
Constellation Energy, Corporation

Mr. Haas is an experienced Tax Attorney and Tax Director with a demonstrated history of working in private practice and the energy industry. He is skilled in Tax Transactions and Controversies, General Tax and Corporate Law, Mergers & Acquisitions (M&A), Tax Policy, and Corporate Governance.

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Description

The Inflation Reduction Act of 2022 (IRA) expands tax incentives for various energy resources, reshapes how eligible projects are financed, and monetizes new and expanded tax credits. Section 6418 of the Internal Revenue Code (IRC) permits taxpayers to transfer all or a portion of certain energy-related tax credits for cash. This opens the door to a larger pool of financing for developers and tax-equity investors.

Recently, the U.S. Department of the Treasury and the IRS released final regulations under IRC Section 6418 for transferrable tax credits for incentives included in the IRA. Counsel must understand these credits and the final rules governing the transfer of such credits.

Listen as our panel discusses the clean energy tax credit transfer regime. The panel will also discuss the recent IRS and Treasury final rule for transferable tax credits as well as key elements of and clarifications under the rule.

Outline

  1. Tax credit transfer regime and Section 6418
  2. Overview of the final regulations
  3. Key elements and clarifications
    1. Tax credit purchase agreements
    2. Tax credit transfer mechanics
    3. Loan and bridge financing
    4. Credit property registration
    5. Transferability
    6. Applicability of anti-abuse rule
    7. Passive activity rule
    8. Excessive credit transfers and recapture
  4. Takeaways

Benefits

The panel will discuss these and other key issues:

  • Transfer of U.S. energy-related tax credits, requirements, and limitations
  • Manner and method for making valid transfers
  • Rules for buyers and sellers
  • Transfers involving partnerships and S corporations
  • Key considerations and next steps for renewable energy developers, producers, and investors