Benjamin A. Huffman

May 11, 2023 | natlawreview.com | Benjamin A. Huffman

The United States is broadening the scope and diversity of its energy mix at a rate and to an extent not seen in a century, if ever. The changes underway provide both important opportunities and critical challenges for owners seeking to repurpose existing assets in a market governed by overlapping federal, state and local regulations. We briefly summarize below six key considerations for transitioning existing fossil fuel transport, storage and electricity generation assets to new uses.

Mar 14, 2023 | jdsupra.com | Benjamin A. Huffman |Amit Kalra |E. Gail Suchman

On February 13, 2023, the Internal Revenue Service (“IRS”) issued its “initial guidance”[1] regarding the Low-Income Communities Bonus Credit Program (the “Program”) established by the Inflation Reduction Act of 2022 (the “IRA”)[2] and codified under new Section 48(e) of the Internal Revenue Code (“IRC”) concerning “special rules for certain solar and wind facilities placed in service in connection with low-income communities.” The guidance makes strides to implement the Program required by...

Mar 13, 2023 | lexblog.com | Gail Suchman |Amit Kalra |Benjamin A. Huffman

On February 13, 2023, the Internal Revenue Service (“IRS”) issued its “initial guidance”[1] regarding the Low-Income Communities Bonus Credit Program (the “Program”) established by the Inflation Reduction Act of 2022 (the “IRA”)[2] and codified under new Section 48(e) of the Internal Revenue Code (“IRC”) concerning “special rules for certain solar and wind facilities placed in service in connection with low-income communities.” The guidance makes strides to implement the Program required by...

Mar 13, 2023 | lexology.com | Gail Suchman |Amit Kalra |Benjamin A. Huffman

On February 13, 2023, the Internal Revenue Service (“IRS”) issued its “initial guidance”[1] regarding the Low-Income Communities Bonus Credit Program (the “Program”) established by the Inflation Reduction Act of 2022 (the “IRA”)[2] and codified under new Section 48(e) of the Internal Revenue Code (“IRC”) concerning “special rules for certain solar and wind facilities placed in service in connection with low-income communities.” The guidance makes strides to implement the Program required by...