IRS Prop. Reg.: Clean Electricity Low-Income Communities Bonus Credit Amount Program Guidance (IRC §48E)

Proposed rules concerning the program to allocate clean electricity low-income communities bonus credit amounts established pursuant to the Inflation Reduction Act of 2022 for calendar years 2025 and succeeding years, the IRS released. Applicants investing in certain clean electricity generation facilities that produce electricity without combustion and gasification may apply for an allocation of environmental justice capacity limitation to increase the amount of the clean electricity investment credit for the taxable year in which the facility is placed in service. This document describes proposed definitions and requirements that would be applicable for the program. Written or electronic comments must be ...