The Office of the Maryland Comptroller and the US Treasury will host a free webinar on May 21 for counties to learn more about available tax credits for local governments under the Inflation Reduction Act — the most significant investment in clean energy in US history.

The Inflation Reduction Act (IRA) modifies and extends the clean energy Investment Tax Credit to provide up to a 30 percent credit for qualifying investments in wind, solar, energy storage, and other renewable energy projects that meet specified criteria.

Recognizing that state, local, and Tribal governments, as well as non-profit organizations and other tax-exempt entities, play a central role in making investments to build a clean energy economy, the IRA offers new mechanisms to create a pathway for counties to access specified clean energy tax incentives that previously were only available to tax-paying entities.

The “elective pay” and “transferability” options permit counties to pursue renewable energy projects independently without relying on outside financing, putting them on an even playing field with the private sector. This will allow counties to increase access to affordable clean energy, drive investment into rural and underserved communities, and reduce emissions cost-effectively.

Zoom Webinar

When: May 21, 2024, 1:00 pm

Topic: IRA Direct Pay Webinar for Maryland Tax Exempt Entities

Register in advance for this webinar: https://marylandtaxes.zoom.us/webinar/register/WN_njTUA_FES0OYR1JjA0YSRQ

After registering, one will receive a confirmation email containing information about joining the webinar.

Stay tuned to Conduit Street for more information.