What Counties Need to Know about IRA Elective Pay and Transferability Guidance

On June 14, the U.S. Department of Treasury and the Internal Revenue Service (IRS) issued proposed guidance on the elective pay and transferability mechanisms established in the Inflation Reduction Act (IRA). These new mechanisms create a new pathway for counties to access certain clean energy tax incentives that previously have only been available to tax-paying entities. The elective pay and transferability options will allow counties to pursue renewable energy projects on their own without having to rely on outside financing, putting them on an even playing field with the private sector. This provides an opportunity for counties to increase access to affordable clean energy, drive investment into rural and underserved communities and reduce emissions in a cost-effective manner.

Join NACo on Thursday, June 22 at 3:00pm Eastern to learn more about the guidance and how counties can utilize the new elective pay and transferability mechanisms.