Biogas Group Wants a Safe Harbor as Tax Credit Deadline Looms

A trade group representing the renewable natural gas industry said it is asking the Treasury Department to relax the qualifications for the energy investment tax credit since the rules were finalized weeks before the credit expires.

Treasury and IRS Dec. 4 finalized the Section 48 investment tax credit rules that benefit the renewable natural gas industry. But for more than a year the industry has been operating under the proposed rule, which included ownership requirements that made it difficult for the industry to qualify.

Projects can still receive the credit if they start construction, which could mean physical work ...