IR-2023-26, Feb. 13, 2023 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today provided guidance to establish a program to provide solar and wind power to certain low-income areas under the Inflation Reduction Act. Notice 2023-17 PDF establishes the Low-Income Communities Bonus Credit Program and provides initial guidance for potential applicants for allocations of calendar year 2023 capacity limitation. This initial guidance provides the general eligibility requirements, a description of the four statutory facility categories for which an eligible facility may request an allocation, amounts of capacity limitation reserved for each facility category, a general description of the program design and goals, the application review process, and the proposed timeline for opening two 60-day application periods in 2023 based on project categories. This guidance applies to owners of certain solar and wind facilities placed in service in connection with low-income communities that are eligible for the section 48 energy investment credit. The Treasury Department and the IRS will issue additional program guidance outlining specific application procedures, applicable definitions, and other information necessary to submit an application. More information may be found on the Inflation Reduction Act of 2022 page on IRS.gov.
