RP-2024-19: For an allocation of environmental justice solar and wind capacity limitation (Capacity Limitation), as part of the low-income communities bonus credit program for 2024, under IRC § 48(e)

Revenue Procedure 2024-19 provides clarifying and procedural guidance applicable to the low-income communities bonus credit program (Program) for the 2024 Program year. The Program was established pursuant to the Inflation Reduction Act of 2022. Under this Program, applicants investing in certain solar and wind-powered electricity generation facilities may apply for an allocation of environmental justice solar and wind capacity limitation to increase the amount of an energy investment credit under section 48 for the taxable year in which the facility is placed in service.

Revenue Procedure 2024-19 will be in IRB 2024-16, dated April 15, 2024.

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