The Inflation Reduction Act (the “IRA”) is a historic piece of legislation that includes approximately $369bn of funding for a number of strategies to reduce carbon emissions and combat climate change. Although it may be tempting to assume that the IRA is only relevant for the energy and manufacturing sectors, there is plenty in the IRA relevant to the commercial real estate industry as well. In fact, there are some key tax incentives that can benefit property owners and developers, all while moving the United States closer to its “net zero” decarbonization goal.
The IRA is jam packed with tax credits and other incentives that will have an impact on many industries, so this note focuses on just a few highlights that are most relevant for the real estate industry. Reach out to a member of the Hogan Lovells Tax or Real Estate teams for a more in-depth discussion on how your property or project may benefit.
Authored by Jessica Millett and Elizabeth Adams.
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