Enhanced Energy-Efficient Tax Benefits in Recent Federal Legislation
“To maximize the 179D deduction on commercial buildings, taxpayers need to meet prevailing wage requirements. If met, the amount of the deduction increases five-fold, from $0.50–$1.00 when not met to $2.50–$5.00 per square foot when prevailing wage requirements are satisfied. Similarly for multifamily homes, the maximum §45L Credit quintuples from $500–$1,000 per residence to $2,500–$5,000 per home depending on qualification level. Single-family homes under the new IRA rules do not need to meet prevailing wage requirements to obtain the higher $2,500 to $5,000 45L credit.”
Link to article found here.
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About the Author
Jeff Carroll is a trusted leader in workforce and affordable housing who has spent his career building communities that balance efficiency, affordability, and long term stability. He leads Allen & Associates Consulting and helped launch the Workforce Housing Development Corporation, guiding projects that use innovative construction methods and mission aligned financing. With thousands of consulting assignments completed nationwide and degrees from Clemson and Harvard, Jeff brings deep technical insight and steady strategic vision to every project he supports.
This post highlights the grand opening of Buchanan’s Crossing, a fully accessible mixed income community serving veterans and seniors in Kansas City, Kansas. Project sponsors, city leaders, lenders, investors, future residents, and the construction team gathered to celebrate the completion of the first phase. The development will ultimately include forty two and three bedroom duplex units and required a major off site sanitary sewer improvement, including a one hundred forty four foot bridge that supports utilities for the project and future growth in the area. Jeff Carroll and Bob Hughes addressed attendees before the ribbon cutting and walk through, marking an important milestone for the community.