Resolution R2023-0002934
Stale
Call for hearing(s) on potential application of Internal Revenue Service's Direct Pay program tax incentives for City of Chicago
Auto-generated summary
Chicago's 2020 climate emergency declaration led to a Climate Mobilization. The Inflation Reduction Act (IRA), endorsed by President Biden, allocates $369 billion to climate and energy, aiming for a 40% cut in greenhouse gas emissions. The IRS-administered Direct Pay program aids local governments in clean energy initiatives, such as electric vehicle fleets and public solar utilities. The Committee on Economic, Capital, and Technology Development is called to hold a public hearing on the proposed rules for Direct Pay.
