American Indian tribes for the first time can access millions of dollars in tax incentives to help fight climate change and offset project costs.
The Inflation Reduction Act, or tax-and-climate law passed in August 2022, includes tax credits and funding for tribal communities. The tax-exempt nature of tribes previously blocked them from taking tax credits. A new provision in the law opens the door for many tax-exempt organizations and government entities to receive a refundable payment in lieu of a tax credit.
The implementation of the Biden administration’s tax-and-climate law will dictate just how much tribes will be able to ...