Tax Credit to Transition Coal Towns Blunted by Law’s Definition

Coal communities trying to lure development are likely to face competition from brownfields and areas with less fossil-fuel employment under a provision of the new climate and tax law intended to breathe life into areas with fading energy industries.

U.S. energy officials, private developers and communities are eagerly awaiting guidance from the Treasury Department on the scope of the 10% bonus tax credit for projects located in what the climate and tax law describes as “energy communities.” Last week, the Treasury Department opened a public comment period for this tax credit and others, with comments ...