Category — American Recovery and Reinvestment Act (ARRA)

The American Reinvestment and Recovery Act of 2009 (ARRA) authorizes the Department of Treasury to award $2.3 billion in tax credits for qualified investments in advanced energy projects, to support new manufacturing facilities.  The tax credit, known as the Advanced Energy Manufacturing Tax Credit (MTC) or the Section 48C credit, provides a 30% credit for the qualified costs of investments in new, expanded, or re-equipped renewable energy manufacturing projects located in the United States.  [Read more →]

The Department of the Treasury and the Department of Energy have issued guidance regarding the rules for obtaining a grant from Treasury (“section 1603 program”) in lieu of a production tax credit under section 45 of the Internal Revenue Code (“Code”) or an investment tax credit under Code section 48.  Under this program, which was enacted as part of the American Recovery and Reinvestment Act, the Department of the Treasury makes payments to eligible persons who place in service specified energy property and apply for such payments.   [Read more →]

On March 31, 2009, the Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (the “Councils”) issued interim regulations implementing the Buy American restrictions of the American Recovery and Reinvestment Act of 2009 (“Recovery Act”).  These rules form a new section of the Federal Acquisitions Regulations (“FAR”) and add four new contract clauses to be included as appropriate in solicitations involving Recovery Act funds.  Comments on the interim FAR rules will be accepted through June 1, 2009 for consideration in the formulation of final rules.  Final rules will be issued once all comments are reviewed and the Councils finalize any modifications to the interim rules.  It is not certain how long it will be before the final rules are issued.   [Read more →]

By its Interim Guidance issued in April 2009, The Office of Management and Budget (”OMB”) has significantly clarified the meaning of the President’s March 20, 2009 Memorandum setting rules for registered lobbyists’ contacts with federal officials involved in Recovery Act funding.  As shown in the linked copies below, OMB’s Interim Guidance includes descriptions, definitions and a set of Frequently Asked Questions (“FAQs”). [Read more →]

The American Recovery and Reinvestment Act of 2009 (Recovery Act) was signed by the President on February 17, 2009. The new law is divided into a Division A regarding stimulus funding amounts and requirements, and a Division B primarily regarding tax issues.  [Read more →]

On March 20, 2009, President Obama issued a Memorandum to the Heads of Executive Departments and Agencies prescribing rules intended to assure that applications for funding under the Recovery Act will be determined on their merits.  After setting forth the general goals for Recovery Act projects, the Memorandum issues orders, including prohibition of oral communications between lobbyists and federal officials concerning particular Stimulus projects and posting of all lobbyists’ communications on Recovery.gov. [Read more →]

This is the third in a series of Advisories we have issued on the government’s new temporary COBRA subsidy for qualified beneficiaries who lose or lost coverage due to an involuntary termination of employment between September 1, 2008 and December 31, 2009.  See our prior Advisories of February 20 and March 3 for details.  [Read more →]

The new Stimulus Bill, styled the American Recovery and Reinvestment Act of 2009 (ARRA), appropriates over $780 Billion to stimulate the economy through federal, state and private activity.  It uses at least 10 federal agencies, all state and local governments willing to participate, and as many private businesses as qualify for the contracts, grants, loans and loan guarantees funded by the Act. [Read more →]

On February 20, 2009 we issued an Advisory entitled “Stimulus Bill Provides Government Subsidy for COBRA Premiums”.  Since then, both the Internal Revenue Service and the Department of Labor have issued guidance on how the COBRA subsidy will be implemented. Below are links to and brief descriptions of each piece of guidance: [Read more →]

The American Recovery and Reinvestment Act of 2009 (ARRA), the economic stimulus legislation signed into law on February 17, 2009, is intended to provide numerous real estate investment opportunities through a combination of domestic spending programs and tax incentives.  [Read more →]