Late on November 16, 2017, Senate Finance Committee (“SFC”)
Chair Orrin Hatch released amendments to the Senate Republicans’ tax reform
proposal. Similar to the original version and the first amendment (released
late on November 14, 2017), the amended proposal does not include provisions
concerning the PTC or the ITC. In addition, the Enhanced Oil Recovery Credit,
the Credit for Producing Oil and Gas from Marginal Wells, and the New Markets
Tax Credit would all remain intact. Also similar to the prior version, the SFC
proposal does not address expired energy credits for qualified fuel cell and
small wind energy property, qualified microturbine property, or production from
advanced nuclear power facilities. Recently, however, Senator Chuck Grassley
announced publicly that Senate Republicans would address certain of those
expired energy credits in a separate “extenders bill” apart from the “Tax Cuts
and Jobs Act” at the end of the year.
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