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Articles by Sam Kamyans
IRS Must Defer to Industry Pacts for Carbon Capture Tax Credits Original
The carbon capture industry is developing transportation hubs where multiple emitters send captured carbon dioxide through a shared pipeline system. Because several emitters are delivering molecules of CO2 to a single pipeline system, matching a single unit of CO2 to the specific emitter that delivered it poses technical challenges. It also raises questions about how to apportion tax credits for carbon capture under Section 45Q of the tax code.
Low-Carbon Ammonia Offtake Agreements Require Special Scrutiny
Parties have gotten much more interested in developing low-carbon ammonia projects since the Inflation Reduction Act’s enactment of the production tax credit for low-carbon hydrogen. However, certain bankability and contractual considerations must be addressed in the context of low-carbon ammonia projects. It’s possible to identify and manage the challenges and risks when drafting offtake agreements for such projects.
New Structures for Selling Tax Credits Can Fund Clean Energy Original
The Inflation Reduction Act has made federal income tax credits available for a wide array of green technologies. The 2022 tax-and-climate law also enables the sale of tax credits to help achieve its green energy policy goals. As a result, banks, sponsors, and fund managers have a unique opportunity to use transferability provisions to finance energy transition projects.
The energy community tax credit – IRS provides investors with certainty | JD Supra
The Internal Revenue Service issued Notice 2023-29 (the “Guidance”), which provides helpful guidance for energy projects seeking to evaluate whether they qualify for enhanced tax incentives under the energy community (“EC”) provisions of Internal Revenue Code sections 45, 45Y, 48, and 48E. The Guidance is effective as of January 1, 2023. Treasury intends to issue regulations largely consistent with the provisions in the Guidance.
Decoding the Tax and Climate Law’s ‘Green’ Credit Complexities
The Inflation Reduction Act significantly expands technologies eligible for federal income tax credits and, in certain instances, enables the federal government to send cash payments directly to taxpayers. Energy transition projects often are eligible for multiple tax credits, perhaps as a function of their complexity, though the new law is coordinated to prevent perceived excess stacking of tax credits.
Decoding the Tax and Climate Law’s ‘Green’ Credit Complexities
The Inflation Reduction Act significantly expands technologies eligible for federal income tax credits and, in certain instances, enables the federal government to send cash payments directly to taxpayers. Energy transition projects often are eligible for multiple tax credits, perhaps as a function of their complexity, though the new law is coordinated to prevent perceived excess stacking of tax credits.
Controlling liability risks is vital for uptake of carbon capture | JD Supra
Who is responsible for carbon stored in ground? Perhaps one of the most significant issues to be addressed is that of long-term responsibility for carbon stored in the ground. If investors are potentially liable for any leaks – even many decades after a carbon well has been plugged, as is currently the case in places like California – it could deter investment.
U.S. Inflation Reduction Act takes climate change out of political cycle | JD Supra
The IRA is designed to drive a “just” transition, with credit multipliers linked to minimum pay rates for workers, and for infrastructure development in low-income areas and parts of the country historically focused on fossil fuel production and associated generation. It includes local content incentives to boost domestic supply chains and creates a manufacturing credit for equipment such as small-scale grid interconnectors.
Inflation Reduction Act of 2022 – Energy Provisions and Related Tax Credits | JD Supra
On July 30, 2022 the U.S. House of Representatives passed The Inflation Reduction Act of 2022. The bill includes notable revisions to many of the green energy items addressed in our prior publications and specifically targets lower energy costs, increase in cleaner production, and reduction of carbon emissions by roughly 40% by 2030. Please see full Publication below for more information. Download PDF
Infrastructure Investment and Jobs Act: Laying a foundation for energy transition | JD Supra
The Infrastructure Investment and Jobs Act (the IIJA) recently signed into law follows through on President Biden’s commitment to reinvest in American infrastructure, by appropriating approximately USD65bn to new and expanded programs that will drive investment and innovation in clean and renewable energy sources, power transmission and energy storage solutions. Please see full Publication below for more information.
November 2021 update: U.S. House Ways and Means Committee Build Back Better Act - proposals related to tax credits and clean energy | JD Supra
On 19 November 2021, the U.S. House of Representatives passed the Build Back Better Act. The bill includes notable revisions to many of the green energy items addressed in our 21 September publication and various new items including tech-neutral energy credits. Please see full Publication below for more information.
U.S. House Ways and Means Committee Build Back Better Act – proposals related to Tax Credits and Clean Energy | JD Supra
On 10 September 2021 the U.S. House Ways and Means Committee proposed a range of green energy tax incentives (the “Bill”) to be enacted through the budget reconciliation process. The chairman of the Committee, Richard Neal, explained that the Bill would allow the U.S. to address climate change whilst also helping local communities and strengthening the country’s economy. Please see full Publication below for more information.
[Webinar] Carbon Capture, Use, and Sequestration (CCUS) - May 12th, 11:00 am ET | JD Supra
May 12th, 2021 11:00 AM ET This webinar uses a case study approach to a CCUS project to identify the key commercial arrangements and risk pressure points that sponsors, tax equity and cash equity investors, and lenders evaluate in connection with transacting in the sector. In addition, we will cover the current U.S. legislative landscape, in particular proposals regarding 45Q and state incentives, and the direction in which the sector is trending.
Biden’s infrastructure plan: big ideas, little detail (so far) | JD Supra
With his newly announced American Jobs Plan, the President has taken the first step toward fulfilling a key campaign promise: to spend more than $2 trillion over eight years to modernize America’s infrastructure and drive the transition to clean energy. Please see full Publication below for more information.
Akin Gump Hosts 2021 Energy Briefing — Focus On Trends In Carbon Capture And ESG - Energy and Natural Resources - United States
United States: Akin Gump Hosts 2021 Energy Briefing — Focus On Trends In Carbon Capture And ESG 01 February 2021 by Sam Kamyans , Matthew A. Kapinos , Stacey H. Mitchell , Brian Glenn Patterson and Cynthia May Mabry Akin Gump Strauss Hauer & Feld LLP Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com.
Carbon Capture, Use, And Sequestration: Proposed Regulations Enable Taxpayers To Accelerate Projects
To print this article, all you need is to be registered or login on Mondaq.com. The Treasury Department and Internal Revenue Service (IRS) issued Proposed Regulations for carbon sequestration tax credits—under Section 45Q—addressing recapture risk and the availability of the credit when carbon is converted into products.
Carbon Capture, Use, and Sequestration: Proposed Regulations Enable Taxpayers to Accelerate Projects | JD Supra
The Treasury Department and Internal Revenue Service (IRS) issued Proposed Regulations for carbon sequestration tax credits—under Section 45Q—addressing recapture risk and the availability of the credit when carbon is converted into products. Importantly, while the proposed rules are not yet final, they allow a taxpayer to rely on them for taxable years beginning after February 9, 2018, so long as the taxpayer relies on the rules in their entirety and in a consistent manner.
Carbon Capture Tax Credit Gets A Boost From IRS Guidance – A Practical Guide For Investors - Tax - United States
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Carbon Capture Tax Credit Gets a Boost From IRS Guidance – A Practical Guide for Investors | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
30% ITC Safe From Delivery Delays Due To Coronavirus
To print this article, all you need is to be registered or login on Mondaq.com. Solar developers need not worry that delivery delays caused by the coronavirus outbreak will disrupt investment tax credit (ITC) safe harboring. However, developers should take care to appropriately address any delays, as discussed below. To qualify for a 30 percent solar ITC, taxpayers must show that they began construction of the solar energy project before 2020.
30% ITC Safe from Delivery Delays Due to Coronavirus | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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