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On December 28, 2023, the U.S. Environmental Protection Agency (“EPA”) granted Louisiana primary enforcement authority (“primacy”) under the federal Safe Drinking Water Act’s (“SDWA”) Underground Injection Control (“UIC”) program to permit Class VI wells, which became effective on February 5, 2024.

Last week, the Governor of New Mexico signed House Bill 41 (“HB 41”) into law, establishing the Clean Fuel Standard (“CFS”), which, similar to programs in California, Oregon, and Washington, focuses on reducing the carbon intensity of transportation fuels.

On August 10, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued final regulations (the “Final Regulations”) providing additional guidance to taxpayers on the “Low-Income Communities Bonus” (“LICB”) available under section 48(e) of the Internal Revenue Code of 1986, as amended.

On February 13, 2023, the Department of Treasury (the “Treasury”), along with the Internal Revenue Service (the “Service”) and the Department of Energy (the “DOE”), issued Notice 2023-18 (the “Notice”), establishing a program under section 48C(e)(1) of the Internal Revenue Code of 1986, as amended (the “Code”), to allocate $10 billion of tax credits for qualifying investments in eligible advanced energy projects (the “Advanced Energy Project Credit”).

Panelists from Vinson & Elkins, Riverstone and Evercore provided an overview of financing structure alternatives for private capital raises.

On August 12, 2022 – a little over two weeks after the legislation was announced and five days after it passed the Senate – the House passed the historic Inflation Reduction Act of 2022 (the “Act”).

In this program, Vinson & Elkins lawyers walk through notable climate and energy programs and clean energy tax provisions in the Act and unpack what this means for the future of renewable energy in the U.S.

On July 27, 2022, only a few hours after the Senate approved a bipartisan semiconductor and technology package, Senator Manchin made a stunning and well-timed reversal of his prior position and confirmed his support for various climate and energy programs. Senate Democrats (led by Senators Manchin and Schumer) quickly made legislative text available and submitted it to the Senate Parliamentarian for review.

Vinson & Elkins was a platinum sponsor at the 2022 Energy Infrastructure Council’s (EIC) Investor Conference in West Palm Beach, FL.

Much has been said about the need for countries and companies to build a low-carbon global economy.

On February 15, 2022, the Biden administration announced a slew of low carbon emissions initiatives for the industrial sector in support of the administration’s goal to achieve a net-zero economy.