Gust Rosenfeld P.L.C. has announced that Brandon Caywood, a partner in the Phoenix office, worked with members of the National Association of Bond Lawyers (NABL) in drafting comments regarding certain tax provisions enacted under the Inflation Reduction Act (IRA) to the Internal Revenue Service (IRS).

The IRA made a number of changes to the Internal Revenue Code relating to the eligibility for, and determination of, tax credits under various production tax credit and investment tax credit provisions.  Among these were provisions providing reductions of available credits in circumstances where all or a portion of the credit-eligible facility is financed in whole or in part with tax-exempt bonds. The comments provided by NABL elaborate on suggestions on various areas of need for guidance relating to certain tax provisions enacted under the IRA that impact tax-exempt bonds. 

The entirety of the NABL comments can be found here.