Attorneys, industry executives, investors, equipment suppliers and construction contractors involved in renewable energy development.
As the end of the year approaches, many renewable energy developers are working hard to ensure that their projects will 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 2012 may still be eligible for the grant if construction on the project begins in 2009-2012 and the project is placed in service before the applicable credit termination date.
The Treasury Department has issued a series of FAQs and other guidance to clarify when projects will be treated as having begun construction, the consequences of transfers of projects after construction has begun, and various related issues. The issues addressed by the guidance, and some issues that are not squarely addressed, are complex and there continues to be considerable confusion among developers and investors about how the Treasury Department is addressing these issues.
In this one-hour TeleBriefing, our panel -- featuring a Treasury official responsible for the cash grant program and three prominent renewable energy practitioners -- will discuss a number of issues raised by the "begin construction" requirement and practical ways of making sure that the requirements for qualifying for the Section 1603 cash grant are met, including after construction has begun but before the project is placed in service. Panelists will discuss the experience that Treasury acquired dealing with the recent deadline for "begin construction" applications, the prospects that the cash grant will be extended, and the fate of developers that find, to their surprise, that their project does not qualify.
Introduction & Overview
William H. Holmes, Esq., Partner
Stoel Rives LLP / Portland, OR
Gregory F. Jenner, Esq., Partner
Stoel Rives LLP / Minneapolis, MN
Ellen Neubauer, Esq., Grants Program Manager
Office of the Fiscal Assistant Secretary, U.S. Dept. of the Treasury / Washington, DC
Tax Attorney's Perspective
Kevin T. Pearson, Esq., Partner
Stoel Rives LLP / Portland, OR
$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.
There is a $25 cancellation fee
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, CA, GA, ID, IL, IN, KS, LA, ME, MN, MO, MS, NC, ND, NE, NM, NV, NY (experienced attorneys only), OR, PA, RI, SC, TN, TX, UT, VA, VT, WI, WV, and WY.
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CLE credits currently are not available in: DC, DE, MA, MD, MI, OH, or SD.
If you need other types of credits, please call us at (206) 567-4490.
William H. Holmes, partner at Stoel Rives LLP, focuses on energy law with emphasis on wind and renewable energy, water law, real estate law and corporate transactions. He was listed in The Best Lawyers in America in "Energy Law" and "Environmental Law".
Gregory F. Jenner, partner at Stoel Rives LLP in the Tax Practice Group, previously served both as Acting Assistant Secretary of the U.S. Treasury for Tax Policy, where he directed the Office of Tax Policy, and as Deputy Assistant Secretary for Tax Policy.
Ellen Neubauer is the Grants Program Manager within the Office of the Fiscal Assistant Secretary, U.S. Department of the Treasury. She is responsible, under the Direction of the Fiscal Assistant Secretary, for overall management of the Sections 1602 and 1603 grant programs under the American Recovery and Reinvestment Act of 2009. Ms. Neubauer was formerly Senior Counsel for Treasury's Financial Management Service, where she was responsible for advising on issues related to government payments and receipts.
Kevin T. Pearson, Esq. of Stoel Rives LLP, is a partner whose practice focuses principally on federal income tax law, including both transactional matters and tax controversy matters. As part of his transactional practice, Mr. Pearson regularly advises clients regarding all aspects of corporate taxation, including taxable and tax-free mergers and acquisitions, debt and equity offerings and other corporate finance transactions, consolidated return issues, and general corporate tax issues.