The Oklahoma Bar Journal May 2024

expanding on the prior guidance. Until the date the final regulations are published and “beginning after the date that is 60 days after August 29, 2023,” taxpayers must follow the proposed regulations with respect to the construction or installation of a facility or project in their entirety and in a consis tent manner. 6 This means the PWA requirements within the pro posed regulations are currently in effect and must be followed for taxpayers seeking the enhanced credit for renewable energy proj ects that began construction after Jan. 29, 2023.

PREVAILING WAGE REQUIREMENT UNDER SECTION 45(B)(7)(A)

The prevailing wage require ments provide that for any qual ified facility, the taxpayer shall ensure that any laborers or mechan ics employed by the taxpayer or any contractor or subcontractor in the construction of such facility and, with respect to any taxable

Statements or opinions expressed in the Oklahoma Bar Journal are those of the authors and do not necessarily reflect those of the Oklahoma Bar Association, its officers, Board of Governors, Board of Editors or staff.

MAY 2024 | 25

THE OKLAHOMA BAR JOURNAL