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Hitching a Ride on the Omnibus: COVID Relief and Appropriations Act Includes Major Climate Change and Energy Provisions Wednesday, December 30, 2020
On December 27, 2020, President Trump signed H.R. 133, the “Consolidated Appropriations Act, 2021,” an agglomeration of dozens of individual pieces of legislation which together total nearly 6,000 pages. While general press coverage has mostly focused on the controversy concerning the size of relief checks that will be sent to most taxpayers, and on appropriations to prevent a federal government shutdown, the Act contains substantial, and potentially historic, provisions addressing energy, climate change, and sustainability. The Act helps lay the groundwork for what promises to be a major push towards renewable energy sources and reductions in greenhouse gases (GHGs). These developments create a tremendous opportunity for renewable energy and GHG reduction projects, but also create new compliance burdens ac
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As Congress was completing final negotiations of the stimulus package dealing with the public health and economic impacts of the coronavirus pandemic, several key energy provisions made their way into the 5593-page omnibus spending bill passed by the House and Senate on December 21, 2020, particularly much needed extensions of several renewable energy and energy efficiency tax incentives.
Specifically, the Consolidated Appropriations Act, 2021 (the “Act”)[1] addresses, among other things, the concerns of renewable energy developers regarding the potential expiration of the Production Tax Credit (PTC) and Investment Tax Credit (ITC) and, for the first time, includes provisions for offshore wind projects. In addition, the Act provides for the expansion and enhancement of significant research and development programs related to renewable energy, energy efficiency, energy storage, and carbon capture and sequestration,
Congress Extends Renewable Energy Tax Credits in 2021 Omnibus Spending Bill lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.