Opportunity Title:
Low-Income Communities Bonus Credit Program
Funder/Agency:
DOE
Description:
The Low-Income Communities Bonus Credit Program supports the Biden-Harris Administration’s Investing in America agenda – a transformative set of investments designed to create jobs, lower costs for American families, and spur an economic revitalization in communities that have historically been left behind. The Department of the Treasury and the Internal Revenue Service (IRS) established the program under section 48(e), which was added to the Internal Revenue Code by the Inflation Reduction Act, to promote cost-saving clean energy investments in low-income communities, on Indian land, as part of affordable housing developments, and benefitting low-income households.
The program prioritizes:
Increased adoption of and access to renewable energy facilities in underserved and environmental justice communities.
Encouraging new market participants.
Providing substantial benefits to underserved communities and individuals who have been historically marginalized from economic opportunities and overburdened by environmental impacts.
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