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Impact of Inflation Reduction Act on Commercial Real Estate: Tax Credits and Other Incentives

Note: CPE credit is not offered on this program

Recording of a 90-minute premium CLE video webinar with Q&A

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Conducted on Tuesday, February 14, 2023

Recorded event now available

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This CLE webinar will analyze the features of the Inflation Reduction Act (IRA) that have the most relevance for the commercial real estate industry. The panel will discuss changes to the production tax credit (PTC) and the investment tax credit (ITC), and how the real estate industry should be thinking about these incentives. In addition, the presentation will cover revisions to the 179D Deduction and 45L Credit which encourage energy-efficient building improvements and homes, the revived credits available for electric vehicle (EV) charging stations, and more.

Description

The IRA includes approximately $369 billion in funding for a number of strategies to reduce carbon emissions and combat climate change. Although it primarily affects the energy and manufacturing sectors, there is plenty in the bill that affects commercial real estate development and finance as well.

The IRA made a number of changes to the ITC and PTC which could benefit real estate owners and developers, and there are "bonus" credit levels for property located in certain geographic areas. The IRA also revived a credit for "qualified alternative fuel vehicle refueling property" (ie, EV charging stations), and there are additional indirect benefits for the real estate industry as a result of the increased manufacturing that will result from many new IRA incentives. Energy-efficiency commercial buildings and homes are also eligible for increased tax incentives because of the IRA.

Listen as our authoritative panel discusses key aspects of the IRA that could impact commercial property owners and their development strategies.

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Outline

  1. Overview of climate change-related provisions in the IRA
  2. ITC and PTC
    1. Bonus tax credits
    2. Wage and apprenticeship requirements
    3. Transferability and direct-pay
  3. Tax credit for EV charging stations
    1. Location requirements
  4. 179D Deduction for energy-efficient improvements
  5. 45L Credit for energy-efficient homes
  6. Increased manufacturing and impact on real estate

Benefits

The panel will review these and other important issues:

  • What are the "bonus" credits that the IRA makes available, and how can real estate investors benefit?
  • What incentives does the IRA provide property owners to develop EV charging stations?
  • How was Section 179D revised under the IRA, and what kinds of improvements are eligible for immediate deduction?
  • How do the new credit transferability provisions work?

Faculty

Millett, Jessica
Jessica Millett
Partner
Hogan Lovells

Ms. Millett has been practicing for over 16 years, and is highly knowledgeable in advising on the U.S. tax issues that...  |  Read More

Savage, Josh
Josh Savage
Attorney
Hogan Lovells

Mr. Savage has experience representing lenders, private equity firms, developers, and REITs in the financing,...  |  Read More

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