New GFOA/NLC IRA Elective Pay Resource

For the first time, local governments are eligible to take advantage of new and expanded tax credits for their local clean energy projects and investments. In an ongoing effort to develop and provide resources for finance officers to learn about the elective pay process, GFOA recently partnered with the National League of Cities (NLC) to develop a brief that summarizes five key steps in the filing process and provides information that may help local leaders approach and eventually successfully execute your jurisdiction’s Inflation Reduction Act elective payment. The elective pay provision under the Inflation Reduction Act (IRA) encourages public entities and nonprofits to invest in clean and renewable energy projects in their communities. Click here for the new brief, and please visit GFOA’s IRA Implementation Resources for additional information.