Date: March 13, 2013
Source: News Room
A bipartisan group of senators is urging the Treasury Department to clarify eligibility for the recently extended renewable energy production tax credit (PTC) "as soon as possible," warning that a lack of clear guidance "may soon result in uncertainty among potential investors." Congress passed changes to the PTC last year as part of the fiscal cliff deal. The legislation not only extended the credit until the end of 2013 for wind, landfill gas, certain municipal solid wastes, biomass, and hydrokinetic energy, but relaxed requirements to say that projects must "commence construction" by the end of 2013 to qualify, rather than being "in service" as previously required. In their letter, Sens. Michael Bennett (D-CO), Jerry Moran (R-KS) and 15 others suggest that "including key features from prior guidance on the commence construction criteria may help expedite the process and avoid any prolonged delays in investment that might result from significantlyrevised rules."
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