David Burton Authors Article on Congress and Renewable Energy Tax Incentives
North American Windpower has published an article by Akin Gump tax partner David Burton on the future of tax incentives for renewable energy projects. “Congress Wades Into Alphabet Soup Of Wind Tax Incentives” looks at the latest developments regarding the modified accelerated cost recovery system, the future of production tax credits and the possibility of master limited partnership (MLP) status being extended to renewable energy projects.
On this last point, which the article spends the most time discussing, Burton writes that the likelihood of an expansion of the MLP rules recently increased when the Joint Committee on Taxation estimated its cost at “a modest” $1.3 billion over 10 years. MLP status for renewable energy projects, he notes, has bipartisan support in Congress.