Kutak Rock attorney Nicholas Irmen and partner Scott DeMartino recently published an article in Novogradac’s Journal of Tax Credits titled “Loper Bright Enterprises v. Raimondo: What Does the End of Chevron Deference Mean for the Tax Credit World?” about the recent Supreme Court decision in Loper Bright Enterprises v. Raimondo. The ruling could bring significant changes to the tax credit industry by potentially ending Chevron deference, the long-standing judicial principle that gives deference to federal agencies in interpreting ambiguous laws.

As the legal landscape evolves, the potential end of Chevron deference could lead to greater judicial scrutiny of agency decisions, impacting the way tax credits are administered. Kutak Rock attorneys are actively following these developments and considering how the ruling might reshape the application of tax credits, particularly in areas where federal agency interpretations have historically played a key role.

While the full impact of this decision remains to be seen, businesses and organizations that rely on tax credits will likely face a new regulatory environment. This case stands to affect various sectors, including affordable housing, renewable energy, and historic preservation, all of which rely heavily on tax credits.

To learn more about the implications of this decision, you can read the full article on Novogradac here.

Nicholas Irmen serves as tax counsel to institutional investors, developers, banks and syndication funds engaged in transactions generating historic rehabilitation tax credits, renewable energy tax credits, and low-income housing tax credits, as well as other tax-incentivized transactions. His technical knowledge of the tax code helps clients understand the tax consequences of their transactions while minimizing potential tax risk.

Scott DeMartino regularly partners with lenders, investors, syndicators, developers and nonprofit sponsors to advise on how best to utilize historic rehabilitation tax credits (HTCs) and new markets tax credits (NMTCs), as well as renewable energy tax credits (RETCs), as sources of financing for real estate and renewable energy investments.