The U.S. Environmental Protection Agency (EPA) has given Louisiana primary enforcement authority over the state’s Class VI underground injection wells, which are used by the carbon capture and sequestration (CCS) industry to permanently sequester captured carbon in underground geological formations.
Client Alert | January 8, 2024
On December 22, 2023, the IRS and Treasury unveiled their new pre-filing registration portal for transferrable and refundable tax credits under the Inflation Reduction Act of 2022 and the CHIPS and Science Act of 2022.
Client Alert | December 27, 2023
Our lawyers provide background on the investment tax credit for energy property, summarize the proposed regulations issued by the IRS and Treasury, and share key implications for taxpayers.
Client Alert | December 1, 2023
Our lawyers review proposed regulations issued by the U.S. IRS and Treasury providing guidance on prevailing wage and apprenticeship requirements applicable to clean energy credits.
Client Alert | September 6, 2023
Our lawyers discuss U.S. Treasury regulations proposed by the IRS and Treasury that provide guidance on rules for receiving refund payments in respect of certain credits under the Inflation Reduction Act of 2022.
Client Alert | June 29, 2023
Our lawyers discuss proposed regulations issued by the IRS and Treasury that provide guidance on the rules for selling certain tax credits pursuant to a new regime introduced in the Inflation Reduction Act of 2022.
Client Alert | June 21, 2023
Our lawyers discuss an IRS and Treasury notice which provides initial guidance for developers and investors seeking to qualify projects for the domestic content bonus credit available under sections 45, 45Y, 48, and 48E.
Client Alert | May 17, 2023
The IRS and Treasury issued Notice 2023-29, which provides eagerly awaited guidance for developers and investors seeking to qualify energy projects for the energy community bonus credit available under sections 45, 45Y, 48, and 48E.
Client Alert | April 12, 2023
On July 27, 2022, Senator Joe Manchin (D-West Virginia) and Senator Majority Leader Chuck Schumer (D-New York) announced an agreement on a reconciliation package entitled the Inflation Reduction Act of 2022 to address climate change, taxes, health care, and inflation.
Client Alert | July 29, 2022
If enacted into law in its current form, the Build Back Better Act would substantially extend and expand available clean energy tax incentives, including the investment tax credit (“ITC”), the production tax credit (“PTC”), and the carbon capture and sequestration credit. Gibson Dunn lawyers examine the current state of the proposed legislation.
Client Alert | October 13, 2021
On May 28, 2021, the Administration released its fiscal year (FY) 2022 Budget, outlining a plan for $6 trillion of federal spending and $4.1 trillion in revenue for FY 2022 alone.
Client Alert | May 29, 2021