United States: Renewable Energy Tax Provisions In The Fiscal Cliff Legislation – The "American Taxpayer Relief Act Of 2012"

The House of Representatives last night approved H.R. 8, the "American Taxpayer Relief Act of 2012" (the "Bill"), by a vote of 257-167. The Bill was approved earlier in the day by the Senate by a vote of 89-8. Still pending signature by the President, the Bill addresses various expiring tax cuts and pending budgetary requirements, together commonly referred to as the "fiscal cliff." This Client Alert addresses several of the provisions of the Bill that are relevant to ongoing and future projects in the renewable energy space.

House Agriculture Committee adopts a farm bill

Federal Agriculture, Risk, and Reform Management Act  

Key Development: House Agriculture Committee adopts a farm bill with a provision to prohibit EPA from requiring discharge permits for pesticide spraying on or near water bodies.

Potential Impact: The bill would reauthorize conservation, renewable energy, and forestry programs for five years.

The House Agriculture Committee adopted a farm bill July 12 that would provide $57 billion for conservation programs over the next 10 years and prohibit the Environmental Protection Agency from requiring Clean Water Act discharge permits for pesticide spraying on or near water bodies.

Former Colorado governor criticizes lack of federal policy

Colorado, which now has the most solar jobs per capita in the country, quickly became a leader in renewable energy—wind and solar—over a short period. That’s largely because the legislature, working with former Gov. Bill Ritter (D) enacted legislation that build on the state’s plentiful renewable energy resources.

While explaining how Colorado’s policies allowed it to become such a big market for solar at the SunShot Grand Challenge, Ritter critized Congress for failing to enact renewable energy legislation that strengthen the industries across the country.

Iowa new state tax credit policy makes solar a better investment

There is, after all, something new under the sun -- a tax credit that energy companies and lawmakers say makes installing solar energy systems on homes and businesses an affordable investment.

"A lot of people have been looking at solar energy systems and now, with the state tax credits, they're starting to move forward," Brad Duggan, energy efficiency project manager at Van Meter Inc. in Cedar Rapids said Tuesday. "It makes solar ripe for the residential use. I think it will push the market."