(DOE, March 10, 2010) Washington, DC – The Department of Treasury and the Department of Energy announced today new guidance on the tax treatment for grantees receiving Recovery Act funding under the $3.4 billion Smart Grid Investment Grant program. Under the guidance released today, the Internal Revenue Service is providing a safe harbor under section 118(a) of the Internal Revenue Code for corporations receiving funding under the program. With the determination that Smart Grid Investment Grants to corporations are non-taxable, corporate utilities will be able to launch their investments with a clear indication of the tax status for their projects. This decision will allow the Department of Energy to move forward quickly to finalize grant agreements over the coming weeks. “Smart Grid Investment Grants help encourage innovation in the way we power our homes and businesses,” said Treasury Assistant Secretary for Management Dan Tangherlini. Click here to read more…