Key Energy Provisions of the American Recovery and Reinvestment Act of 2009
LawFlash/Client Alert
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published on:
02/18/2009 -
by:
Energy Practice
On February 17, 2009, President Barack Obama signed into law H.R. 1, the American Recovery and Reinvestment Act of 2009 (the Act). Enacting over $787 billion in appropriations and tax cuts, the Act authorizes many energy-related initiatives designed to encourage the development of renewable energy projects, energy efficiency, and the improvement of the national transmission grid.
In its entirety, the Act appropriates over $59 billion in grants and loan guarantees that are related to energy initiatives or environmental initiatives to be carried out by the Department of Energy. The Act also provides nearly $20 billion in several energy-related tax incentives available to individual and business taxpayers. The following summarizes the Act's key energy-related provisions.
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