House Passes PTC Extension through End of 2014

By David Burton, JD Supra.

Today, the House passed H.R. 5771.  To become law, H.R. 5571 must still pass the Senate and be signed by the President.  We expect both of those steps will occur by the end of the year.

H.R. 5571 would extend the fifty tax incentives that expired at the end of 2013 through the end of 2014. For the production tax credit, section 155 of the bill provides that a wind project must “start construction” prior to January 1, 2015 to be eligible for tax credits.  This would be a change from the current deadline of January 1, 2014.