Reimagining Electric Vehicles in Illinois Act-Enacted

November 19, 2021

Nov. 18, 2021 Illinois enacted the Reimagining Electric Vehicles in Illinois Act to provide incentives for electric vehicle (EV) manufacturing and production. Among other tax provisions, the Act includes the following: a sales and use tax exemption for building materials, and a provision allowing local jurisdictions to abate property taxes for certain REV Illinois Project […]

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Advanced Energy Manufacturing and Recycling Grant Program for Small Businesses

November 19, 2021

Nov. 18, 2021 Small businesses investing in certain energy technologies are eligible for a new federal grant program under the Infrastructure Investment and Jobs Act. The Infrastructure Investment and Jobs Act ( H.R. 3684) (IIJA), signed into law by President Biden on November 15, 2021, establishes the Advanced Energy Manufacturing and Recycling Grant Program for small businesses […]

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Ways and Means Opportunity Zone Hearing

November 18, 2021

Ways & Means subpanel holds Opportunity Zone hearing Nov. 18, 2021 The House Ways & Means Oversight Subcommittee November 16 held a hearing, “The Opportunity Zone Program and Who It Left Behind,” that focused on potential improvements to the program, including more accurate data, a refundable tax credit element, and new qualification parameters. Reforming the program could […]

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California: CalCompetes New Grant Program

November 12, 2021

CalCompetes has added a new grant program in the state’s 2021/2022 budget. $120 million in funding is available, with individual awards up to $36 million. The application period opens January 3 and closes January 24. This is a great opportunity for companies that typically would not be able to take advantage of a tax credit […]

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Changes to Montana Tax Credit Programs

November 8, 2021

Signed on May 14, H.B. 629 enacted Grow Montana Jobs, an annual Job Growth Incentive Tax Credit (Job Growth Credit). This new credit is a nonrefundable annual job growth incentive credit against state income tax available for calendar years 2022 through 2028. The credit is equal to 50% of Montana FICA taxes paid by an employer multiplied by the […]

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