On October 15, 2024, Treasury announced that it will hold a webinar with the White House on October 21, 2024 from 3:00-4:00 pm ET on how Tribal Nations can benefit from the Low-Income Communities Bonus Credit under section 48(e) of the Internal Revenue Code, created by section 13702 of the IRA. The webinar will provide information on applying for Program Year 2024 and an update of Treasury’s proposed regulations to expand eligibility to clean energy tax credits for wholly owned Tribal businesses.
The Low-Income Communities Bonus Credit provides a 10 or 20 percentage increase to the investment tax credits for solar and wind projects located on Native American lands. Applications for Program Year 2024 projects on Indian Lands (Category 2) are being accepted on a rolling basis through November 12, 2024.
Opportunities for Participation and Additional Resources:
- DOE program homepage: https://www.energy.gov/justice/low-income-communities-bonus-credit-program
- Press Release: https://home.treasury.gov/news/press-releases/jy2606