U.S. Department of the Treasury, IRS Announce Application Opening Date and Increased Available Capacity for Second Year of Program to Spur Clean Energy Investments and Lower Energy Costs in Underserved Communities

Program created by President Biden’s Inflation Reduction Act provides up to 20-percentage point credit boost for projects in low-income and Tribal communities WASHINGTON—Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) announced that applications will open at 9:00 a.m. ET on May 28, 2024 for the 2024 Program Year of the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code. All applications submitted within the first 30 days, by 11:59 pm ET on June 27, will be treated as submitted on the same date and at the same time. This ensures that all applicants, regardless of size or resources, have an equal opportunity to participate.