Department of the Treasury

Section 13101 of the IRA extends and expands the production tax credit for renewable electricity production in section 45 of the Internal Revenue Code ("IRC"). The credit is available for the ...Read More

Section 13102 of the IRA extends and expands the investment tax credit for qualifying energy facilities in section 48 of the IRC. The investment tax credit was previously scheduled to phase out ...Read More

Section 13103 of the IRA increases the amount of the section 48 investment tax credit for certain qualified solar or wind facilities for which the Internal Revenue Service ("IRS") makes an allocation ...Read More

Section 13104 extends and expands the tax credit for carbon capture and sequestration in Section 45Q of the IRC. Previously, in order to qualify for the credit, carbon capture facilities had to ...Read More

Section 13105 of the IRA adds a new section 45U to the IRC, providing a tax credit for electricity generation at qualifying nuclear facilities. The credit is set at a base rate of 0.3 cents per ...Read More

Section 13201 of the IRA extends the biodiesel and renewable diesel tax credit, biodiesel mixture tax credit, alternative fuel tax credit, and alternative fuel mixture tax credit in section 40A of the ...Read More

Section 13202 of the IRA amends section 40(b)(6)(j)(i) of the IRC to extend the second generation biofuel producer tax credit. The expiry date for the credit was extended to January 1, 2025. The ...Read More

Section 13203 of the IRA inserts a new section 40B into the IRC, creating a sustainable aviation fuel tax credit. The credit is available to taxpayers that sell or use a qualified mixture of ...Read More

Section 13204 of the IRA inserts a new section 45V into the IRC, creating a new tax credit for the production of qualified clean hydrogen (QCH). QCH is defined as hydrogen produced through a process ...Read More

Section 13301 of the IRA modifies the "Nonbusiness Energy Property Credit" established in section 25C of the IRC. The credit has been renamed the "Energy Efficient Home Improvement Credit" and ...Read More