Direct Pay RI Energy Project Reimbursement Assistance

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Interested in tax credits for clean energy projects? Learn more at www.riepra.org!

Learn about more opportunities at www.riepra.org!

NEW: Today Treasury and IRS issued additional guidance that will improve access to elective pay (aka direct pay) for co-owned clean energy projects. Specifically, today’s final rules make modifications to the rules for electing out of partnership tax status for entities like governments or tax-exempts jointly investing in clean energy projects. By collectively electing out of partnership status, co-owners that are eligible for elective pay can take advantage of the elective pay for the share of the project that they own. Today’s guidance provides additional clarity and flexibility for entities pursuing that option.

We are ready to charge up Rhode Island!?? ?? Governor Dan McKee, the Office of Energy Resources, and the Rhode Island Department of Transportation have announced $10 million in competitive federal funding from the IIJA to help public, non-profit, and private entities install publicly accessible EV charging stations. Interested in applying? Visit our website to learn more and apply https://lnkd.in/guGHQCxE Federal Highway Administration,?Joint Office of Energy and Transportation,?U.S. Department of Energy (DOE)?

From our friends at Lawyers For Good Government, the Clean Energy Tax Navigator takes the mystery out of applying for Direct Pay / Elective Pay. This is a great tool. Let's bring this money home Rhode Island! https://lnkd.in/eK4eFnBz Reily Connaughton Cheyenne Cazeault Priscilla De La Cruz Rele Abiade Randy Rossi, MBA, CGFM, ICMA-CM Partnership for Rhode Island Tom Giordano

A great (and quick) read from the National League of Cities on the #IRA #DirectPay program. Worth a read for any municipal leaders. "Understanding which projects are eligible for direct pay and how to file with the IRS is important for city staff as due dates are approaching, plus filing?depends on how your jurisdiction elects to calculate their tax year (e.g., calendar year or fiscal year). For first-time filers and municipalities electing a calendar tax year?— which are likely most local governments — filings for projects that were put into service in 2023 are due November 15, which includes an automatic six-month extension for first-time filers. In subsequent years, for local governments that choose a calendar year calculation, filings would be due on May 15." https://lnkd.in/etfhFaX9 Randy Rossi, MBA, CGFM, ICMA-CM Rhode Island League of Cities and Towns Reily Connaughton Cheyenne Cazeault Camille Capraro Partnership for Rhode Island Tom Giordano Karen Bradbury Chris Kearns #CompeteRI

Thank you Center for American Progress for this HOW-TO-GUIDE for Direct Pay Here in Rhode Island - we are all in to apply for Direct Pay and bring federal funding home! #CompeteRI Check out this resource at: https://lnkd.in/es9Ji7Jj Partnership for Rhode Island Rhode Island League of Cities and Towns Rhode Island Department of Education Chris Kearns Karen Bradbury Rele Abiade #IIJA #InflationReductionAct #cleanenergy

Thank you U.S. Department of Housing and Urban Development for this guide to #DirectPay. Here in Rhode Island, we are privileged to have many housing developers, advocates and organizations looking to solve this crisis. Thanks to Rhode Island Foundation Crossroads Rhode Island One Neighborhood Builders LISC Rhode Island Hannah Moore Stefan Pryor Reily Connaughton Patrick Crowley https://lnkd.in/etGQM4qQ

The opportunity to unlock clean energy investments is here -- "but we must seize the opportunity." Thanks to Rachel Isacoff for highlighting three specific examples. We'd love to collaborate with the The Rockefeller Foundation to bring more funding home to our communities. The Partnership for Rhode Island, AFL-CIO and Governor McKee's office continue convene, inform and provide technical assistance to state agencies, cities, towns and non-profit organizations across the state. Check out these examples and more: Rhode Island League of Cities and Towns, Xaykham Khamsyvoravong, Priscilla De La Cruz, Chris Kearns, Karen Bradbury Partnership for Rhode Island Tom Giordano