• Treasury Releases Guidance Describing Process for Evaluating Cost Basis for Treasury Grant Purposes
  • July 11, 2011 | Authors: Timothy L. Jacobs; Laura Ellen Jones; David S. Lowman
  • Law Firms: Hunton & Williams LLP - Washington Office ; Hunton & Williams LLP - Richmond Office ; Hunton & Williams LLP - Washington Office
  • On June 30, 2011, the Treasury Department released guidance describing the process for evaluating the cost basis of projects qualifying for a Treasury Grant under Section 1603 of the American Recovery and Reinvestment Act. The guidance “outlines the process used by the Section 1603 team to evaluate basis and the principles that guide this process.” Although the guidance addresses only solar PV properties, the guidance states that “the methods used to evaluate cost basis described herein apply to all types of properties.”