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The Inflation Reduction Act of 2022 (IRA) is the most significant climate legislation in U.S. history. But what does this mean to building owners? As one White House expert recently put it, “decarbonization is going on sale.”
Two-thirds of IRA funding will take the form of tax credits, which are being enhanced to benefit more organizations, including nonprofits and even local governments. In addition, the EPAct 179D tax deduction has been made permanent, and its value has more than doubled from $1.80 per square foot to $5.
LABBC’s David Hodgins spoke with federal tax law expert Gabrielle Jacques of Norton Rose Fulbright and energy efficiency expert Rich Maiolo of Capital Review Group about:
Recent changes to federal tax incentives under IRA;
How to access these incentives; and
Case studies on real-world projects
Key Takeaways
Opportunity everywhere. Tax incentives are available regardless of location. Bonuses, or “adders,” are more limited by geography.
More money for more entities. With direct pay, public and tax-exempt entities can now benefit.
EBEWE audits can tee up tax incentives. Ask your ARCx provider about factoring in EPAct 179D and other tax incentives that can enhance the ROI of potential upgrades.
SPEAKER
Gabrielle Jacques
Senior Associate
Norton Rose Fulbright
SPEAKER
Richard Maiolo
National Director
Capital Review Group
HOST
David Hodgins
Executive Director
LABBC