Date: 01/10/2025
Deadline: 04/10/2025
Type: Implementation of IRA
On January 10, 2025, Treasury issued guidance on Section 45Z Clean Fuel Production Credits. Beyond outlining per-gallon credit amounts based on emissions rates of energy production, Treasury also issued a notice of intent to propose rules for “incorporating the emissions benefits from climate-smart agriculture (CSA) practices for cultivating domestic corn, soybeans, and sorghum as feedstocks for [sustainable aviation fuel (SAF)] and non-SAF transportation fuels.”
Section 45Z programs are funded by IRA section 13704, providing tax credits for producers of transportation fuel achieving certain levels of life-cycle greenhouse gas emissions. IRS is requesting public comments on the guidance through April 10, 2025.
Opportunities for Participation and Additional Resources:
- Press release: https://home.treasury.gov/news/press-releases/jy2780
- IRS Notice of Intent to Propose Rules, Request for Comments: https://www.irs.gov/pub/irs-drop/n-25-10.pdf
- IRS Notice with Annual Emissions Rate Table: https://www.irs.gov/pub/irs-drop/n-25-11.pdf