Counties and the Inflation Reduction Act: Elective Pay Update
Available On-Demand
This webinar is available on-demand. If you have issue accessing the recording, please email nacomeetings@naco.org.
On March 5, the U.S. Department of the Treasury (Treasury) issued final regulations for the elective pay mechanism established in the Inflation Reduction Act (IRA). Using elective pay, also known as direct pay, counties and other tax-exempt entities can monetize certain clean energy tax credits that they have previously been unable to access due to their lack of tax liability. On March 5, Treasury also unveiled a new proposed rule to provide criteria regarding the eligibility of certain ownership structures to claim elective pay. During this webinar, counties will hear from Treasury and the U.S. Department of Energy (DOE) on these new regulations and other funding opportunities available under IRA.
Watch Recording
Speakers
David Eichenthal
Dr. Taresa Lawrence
Hon. Adrian Garcia
Resource
Inflation Reduction Act Funding Explorer
Related News
House Natural Resources Committee advances Standardizing Permitting and Expediting Economic Development (SPEED) Act
On November 20, the U.S. House Committee on Natural Resources advanced the Standardizing Permitting and Expediting Economic Development (SPEED) Act (H.R. 4776), which would make important changes to streamline federal permitting and strengthen county involvement in decision-making by amending the National Environmental Policy Act. Counties support commonsense permitting reforms, and NACo secured provisions in the SPEED Act that would guarantee counties a seat at the table during federal environmental reviews.
U.S. Environmental Protection Agency releases new definition of the “waters of the United States”
On November 17, the U.S. Environmental Protection Agency and U.S. Army Corps of Engineers released a proposed rule defining what constitute the “waters of the United States” and are subject to federal regulation under the Clean Water Act. The new definition is narrower than previous rules and codifies the decision of U.S. Supreme Court in the 2023 case Sackett v. EPA.
Federal district court issues ruling preventing the federal government from imposing immigration compliance mandates on grant recipients
On November 4, a federal judge in Rhode Island ruled that the U.S. Department of Transportation cannot condition federal grant funding on a recipient’s cooperation with federal immigration enforcement efforts.