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New clean renewable energy bonds, reallocation to power providers

New clean renewable energy bonds

The IRS today released an advance version of Notice 2017-66 inviting applications from public power providers for the reallocation of new clean renewable energy bonds (new CREBs). Applications are due by June 19, 2018.

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Notice 2017-66 [PDF 38 KB] that states $379,549,691.35 of volume cap has been identified for being available for reallocation as new CREBs under section 54 for projects to be owned by public power providers. Today’s IRS notice sets out the requirements for this reallocation and clearly states that only applications from public power providers will be considered.

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