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IRS Proposed Regulations on Tax Credits and Manufacturing Grants

On June 28, 2023, MESC issued a Funding Opportunity Announcement relating to Domestic Manufacturing Conversion Grants. As another outgrowth of the IRA, MESC is looking to encourage domestic manufacturing capacity through $2 billion in grants.

United statesEnergy supply chainsVehicle is placed in serviceCritical minerals requirementCritical mineralsUs department of energyCommunity benefits planOffice of manufacturingInflation reduction actInfrastructure investmentJobs actPlug in electric drive vehicle creditInternal revenue codeProposed rulesNorth americaProcurement chain

Electrified Industrial Policy: IRS Proposed Regulations on Section 30D EV Tax Credits & EV Manufacturing Grants | Foley & Lardner LLP

Electrified Industrial Policy: IRS Proposed Regulations on Section 30D EV Tax Credits & EV Manufacturing Grants | Foley & Lardner LLP
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United statesUs department of energyOffice of manufacturingFoley lardnerCritical mineralsCritical minerals requirementEnergy supply chainsVehicle is placed in serviceCommunity benefits planInflation reduction actInfrastructure investmentJobs actPlug in electric drive vehicle creditInternal revenue codeProposed rulesNorth america