Law Seminars International Presents: Call from Anywhere for a One-Hour Expert Analysis by Phone on

Section 1603 Cash Grants for Renewable Energy Projects
How To Qualify



August 24, 2011
Call in from Anywhere!
TeleBriefing starts at 10:00 am Pacific / 1:00 pm Eastern

Who Should Dial In

Attorneys, industry executives, investors, equipment suppliers and construction contractors involved in renewable energy development.

Why You Should Dial In

As the end of the year approaches, many renewable energy developers are working hard to qualify for the Section 1603 cash grant. A project that otherwise qualifies for the grant but is not placed in service before the end of 2011 may still be eligible for the grant if construction on the project is begun in 2009-2011 and the project is eventually placed in service before the applicable credit termination date.

In 2010, the Treasury Department issued a series of FAQs to clarify when projects will be treated as having begun construction. However, the framework adopted by the Treasury's guidance and the new FAQs is complex, and even after the Section 1603 cash grant was extended for another year last December, there continues to be considerable confusion among developers about how the "beginning construction" requirement can be met.

There are two distinct ways to begin construction pursuant to the Treasury Guidance: (1) actual physical activity, or (2) expenditure of money (the 5% safe harbor). The tests are entirely separate, and what counts toward meeting one test will generally not affect qualification for the other. However, developers, equipment suppliers and construction contractors routinely conflate the two tests, leading to confusion and the likelihood that some projects thought to be secure will in fact fail to qualify for the cash grant after December 31, 2011.

In this one-hour TeleBriefing, our distinguished panel -- featuring a Treasury official responsible for the cash grant program and two prominent renewable energy practitioners -- will explain the issues raised by the two-pronged test and practical ways of making sure that the "beginning construction" requirement is met. Panelists will discuss the experience that Treasury acquired in December 2010 before Congress extended Section 1603 through the end of 2011, the fairly dim prospects that the cash grant will be extended beyond 2011, and the fate of projects that find, to their surprise, that they don't qualify.

What You Will Learn

What Attendees Have Said About Similar Programs



Agenda

Wednesday, August 24, 2011

10:00 am

Section 1603 Cash Grants for Renewable Energy Projects

Introduction & Overview

William H. Holmes, Esq., Moderator
Stoel Rives LLP / Portland, OR

Regulatory Perspective

Victoria I. McDowell, M.Ed., CGFM, Compliance Program Manager, Section 1603 Program
U.S. Department of the Treasury / Washington, DC

Tax Attorney Perspective

Gregory F. Jenner, Esq.
Stoel Rives LLP / Minneapolis, MN

 
11:00 am

Q & A (for up to 30 minutes)

 


Tuition

$125 to dial in

$175 to dial in and receive continuing education credit

$50 for each additional person on the line who wishes to receive credit

Financial aid is available to those who qualify. Contact our office for more information.

Cancellation & Substitution

You may substitute another person at any time. If you are unable to join the call, you can download the audio and materials later or we'll send you an audio CD and written materials for an additional $10.

Continuing Education Credits

This TeleBriefing qualifies for 1.0 Washington CLE credit. For CLE credits in other states:

We will apply for credits in the following states: AK, AL, AZ, AR, BC, CA, GA, IL, IN, KS, LA, ME, MO, MS, NC, ND, NM, NV, NY, OR, PA, RI, SC, TN, TX, UT, VA, VT, WI, WV, WY

You can self-apply for credits in: CO, FL, HI, ID, MN, MT, NE, NJ, NY, OK.

CLE credits currently are not available in: DE, OH.

If you need other types of credits, please call.



Dial In Info

The dial-in number and a link to the materials will be emailed to you the day before the TeleBriefing. All orders are processed within one business day of receipt.

If You Cannot Attend

You may download the entire audio and materials for $125 or obtain an audio CD and printed materials for an additional $10. Both options include the written materials. Downloads are available within 48 hours after the TeleBriefing or from the date we receive payment. We will ship a CD order via UPS ground within two weeks after the TeleBriefing or from the date we receive payment.
Order Homestudy



Our Distinguished Panel

William H. Holmes is a member of Stoel Rives LLP, and Chair of the firm's Renewable Energy Initiative. Mr. Holmes concentrates his practice in the area of energy law, with a special emphasis on wind, geothermal, biomass, hydroelectric, hydrokinetic, tidal and ocean, and other forms of renewable energy. He also has extensive experience with real estate law, water law, and general corporate transactions. He has been selected to be included in the 2007 through 2011 editions of The Best Lawyers in America in Energy Law and Environmental Law and was selected as a leader in the field by Chambers Global (Projects: Renewables & Alternative Energy USA), 2011. Mr. Holmes is an adjunct professor at the University of Oregon Law School, where he has taught one of the first renewable energy law courses in the nation since 2007.

Gregory F. Jenner is a partner in the Tax practice group of Stoel Rives LLP. Prior to joining Stoel Rives, Mr. Jenner served as Acting Assistant and Deputy Assistant Secretary of the Treasury for Tax Policy from 2002-2004. Mr. Jenner has broad experience in virtually all Federal tax matters, with particular focus on planning and implementing complex tax-related transactions, partnerships and joint ventures, and mergers and acquisitions. He has worked extensively on transactions and planning related to renewable energy, and is a frequent speaker on tax structuring for renewables, including planning for section 1603. He has been active for many years in the Federal tax policy process, working closely with senior policy makers in Congress, the Treasury Department, and the Internal Revenue Service.

Victoria I. McDowell serves as the Compliance Program Manager in the U.S. Department of the Treasury for the Section 1603 Program - Payments in Lieu of Tax Credits for Specified Energy Property. Ms. McDowell has been instrumental in developing and implementing the 1603 program since its inception when the American Recovery and Reinvestment Act was signed in February, 2009. She works closely with officials from Tax Policy, the IRS and Department of Energy and industry to ensure that the 1603 program is transparent, responsive, and as effective and efficient as possible.