'Beginning Of Construction' Guidance For 1603 Grants
July 23, 2010, 2:50 PM EDT
Law360, New York (July 23, 2010, 2:50 PM EDT) -- Recently, the U.S. Treasury Department released new guidance related to the cash grant program under Section 1603 of the American Recovery and Reinvestment Act of 2009. This guidance comes in the form of a set of frequently asked questions regarding the “beginning of construction” as it relates to the grants.
Section 1603 provides a cash grant for placing in service certain renewable energy property. One of the requirements under the program is that the property be placed in service during 2009 or 2010, or placed in...