The IRS has issued additional guidance (IRS Notice 2016-31) relating to when construction begins with respect to wind and other qualified facilities for purposes of the newly extended production tax credit and investment tax credit. This guidance established a new safe harbor for projects to be deemed to have maintained a continuous program of construction. The Notice also addresses how the beginning of construction rules apply to facilities that are permitted to be separated into separate additional facilities, as well as new beginning of construction examples and excusable disruption examples. Last, the Notice provides some guidance for projects that are retrofitted or re-constructed (“80/20” projects).
This engaging program will address:

• Background

• The Notice

• Continuity Safe Harbor

• 80/20 Project Qualification

• Summary of Key Takeaways for New Projects