United States:
Ways And Means Clarifies Wind Can Rely On Start Of Construction Safe Harbors
17 November 2017
Foley & Lardner
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Last week we wrote in our
blog that the House Tax Cuts and Job's Act (TCJA) appeared
to override IRS guidance that wind developers relied on to show
that they started construction on a wind farm in order to take
advantage of the PTC. In response to industry groups, the Ways and
Means Committee clarified yesterday in their report (see page
296) that the statutory "continuous construction"
requirement in the TCJA is intended to codify prior IRS guidance
including the safe harbors.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
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