Treasury Revises Renewable Energy Cash Grant Guidance to Clarify When Construction Begins
March 30, 2010
By Michael D. Haun and Sean C. Honeywill
The Treasury Department recently released revised guidance (the Revised Guidance) simplifying and clarifying when construction begins for projects placed in service after 2010 by applicants applying for cash grants in lieu of renewable energy tax credits under Section 1603 of the American Recovery and Reinvestment Tax Act of 2009 (the Act). Other than the changes regarding when construction has begun, the original guidance released in July 2009 (the 2009 Guidance) remains unchanged. Our client alert detailing the 2009 Guidance can be found here.