The United States Department of the Treasury (Treasury) on June 3, 2024 published proposed regulations on Internal Revenue Code (IRC) Sections 45Y and 48E, which provide for clean energy production and investment tax credits for projects placed in service after Dec. 31, 2024. The clean energy tax credits provided by IRC Sections 45Y and 48E
Energy & Environmental
Broadband Infrastructure Grants Announced, Kicking off $400M of Projects throughout Pennsylvania
The Pennsylvania Broadband Development Authority (Authority) recently announced the award of $204 million for 52 broadband development projects throughout Pennsylvania. The grants are funded through the United States Treasury (Treasury) under the American Rescue Plan Act of 2021 (ARPA), which authorized the use of funds for broadband infrastructure projects targeted at unserved or underserved households…
PA. Distributing $45M in Grants to Municipalities, Community Anchor Institutions to Expand Internet Access
The Pennsylvania Broadband Development Authority is currently accepting applications for the multipurpose community facilities program. Funded through the federal capital projects fund established under the American Rescue Plan Act (ARPA), the facilities program will distribute up to $45 million in competitive grants to community anchor institutions and local governments to ensure reliable and affordable broadband…
Grant Funding Announced for Rural Transit, Other Projects through U.S. Department of Transportation
The U.S. Department of Transportation recently announced the availability of billions of dollars in grant funds for infrastructure and transportation projects, including over $700 million allocated to the Rural Surface Transportation Grant Program. This program offers funding for highway, bridge and tunnel projects that provide or increase access to agricultural, commercial, energy or transportation facilities…
The Impact of the Inflation Reduction Act on ESG: Preparing for Opportunity
What Is ESG?
The term “ESG” stands for environmental, social, and governance principles. While individuals may understand what these letters represent, many people are looking to understand why ESG is relevant, what ESG means in practice, and how it can be incorporated into business practices to the advantage of the business. In the last several years, ESG…
Inflation Reduction Act: A Game Changer for Pennsylvania Clean Energy Projects
The Inflation Reduction Act, Public Law 117-168 (the “Act”), was signed into law by President Joe Biden on August 16, 2022, but the impact of some of its provisions is just beginning to be felt. Among those are the substantial federal subsidies the Act provides for state and local government investments in clean energy projects.
Commonwealth Court: Stormwater Fee Not an Impermissible Tax
In its recent decision, Appeal of Best Homes DDJ, LLC, 239-40 C.D. 2020 (Dec. 23, 2021), the Pennsylvania Commonwealth Court considered, among other issues, whether MS4 fees imposed by the City of Chester Stormwater Authority constituted an impermissible tax. The case involved a challenge by certain rate/fee-payers that the Authority’s “fees” were actually “taxes”…
Borough of Phoenixville Closes on Partial Sale of Water System
On December 4, 2019, the Borough of Phoenixville, Chester County (“Borough”) closed on the sale of a portion of its water system to Aqua Pennsylvania, Inc. (“Aqua”) for $3.46 million. Importantly, the Borough will retain full ownership and control of its water treatment plant and continue furnishing water distribution service to residents within the Borough. …
Steelton Borough Authority Closes on Sale of Water Assets
On October 9, 2019 Steelton Borough Authority (Authority) closed on the sale of its water assets to Pennsylvania-American Water Company for $21.750 million in cash and $35.7 million in committed capital improvements. As a part of the transaction, the Authority and the Borough of Steelton (Borough) repaid or defeased all of their debt, opening the …
Fiscal Code Provides Potential Funding for Water, Sewer and Storm Water Projects
Now that most of the dust has settled on the 2019/2020 budget, municipal and Authority water, wastewater and storm water system service providers should note that the Fiscal Code provides a funding opportunity.
Continue Reading Fiscal Code Provides Potential Funding for Water, Sewer and Storm Water Projects