IRA Elective Pay Provision for Clean Energy: 5 Steps to File

The Inflation Reduction Act (IRA) introduced an innovative elective pay provision to encourage cities, towns, villages and other public entities to invest in clean and renewable energy projects. Unlike traditional grants, this elective payment program allows local governments to benefit from new and expanded tax credits for their clean energy initiatives. NLC is proud to partner with the Government Finance Officers Association (GFOA) to support local governments in leveraging this opportunity. It's crucial for local entities to have robust internal controls and understand the importance of timing in the filing process.