Treasury Releases Updated Guidance for Sustainable Aviation Fuel Credit

Date: 10/18/2024

Type: Implementation of IRA

On October 18, 2024, Treasury and IRS released updated guidance for the IRC section 40B Sustainable Aviation Fuel (SAF) Tax Credit, created by IRA section 13203. The new guidance provides that taxpayers using the 40BSAF-GREET 2024 methodology to calculate emissions reduction percentages for a SAF after October 18, 2024 must use the October 2024 version of the 40BSAF-GREET 2024 model.

Opportunities for Participation and Additional Resources:

Press Release: https://www.irs.gov/newsroom/treasury-irs-issue-guidance-for-the-sustainable-aviation-fuel-credit
Guidance: https://www.irs.gov/pub/irs-drop/n-24-74.pdf
GREET 2024 model: https://www.energy.gov/eere/greet