Tax regulations expected this year could clarify whether agricultural land ruined by PFAS contamination qualifies for a 10% federal tax credit for renewable energy projects on brownfields, offering further incentives for states such as Maine that have adopted policies to re-use damaged land.
The Inflation Reduction Act of 2022 allows a 10% bonus tax credit for renewable energy projects on brownfields in qualifying “energy communities.”
Neither the law nor Department of the Treasury regulations explicitly include unfarmable agricultural land in their definition of brownfields, said Jeremy Horan, vice president of government affairs for the American Council on Renewable Energy (ACORE). …
