On March 5, 2024, the Treasury Department filed for publication final Treasury Regulations under Section 6417 of the Internal Revenue Code of 1986. A copy of the final Treasury Regulations is available online here. The final Treasury Regulations address several, but not all, outstanding questions that existed under the proposed Treasury Regulations published in June 2023. Most notably, the final Treasury Regulations do not provide complete guidance and comfort regarding the credit reduction provision of, e.g., Section 45(b)(3) of the Code, for projects that are also financed with proceeds of tax-exempt bonds.
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