Search Results for keywords:"Inflation Reduction Act"

The Department of Agriculture has submitted a request to the Office of Management and Budget for approval of information collection requirements under the Paperwork Reduction Act. The Rural Business-Cooperative Service is conducting an annual survey to gather data about farmer cooperatives, which includes statistics on business volume, net income, and financial status. Additionally, they have a voluntary labeling program for biobased products aimed at promoting renewable fuels. The information collected will help determine eligibility for grants and improve service and analysis. Comments on these information collections are invited until February 5, 2025.

The Environmental Protection Agency (EPA) has submitted a request to gather information for the Environmental and Climate Justice Community Change Grant Program, which helps fund community-driven projects addressing environmental and health issues. This is a new information collection request and the EPA is seeking public comments for another 30 days. The grant program, supported by the Inflation Reduction Act, aims to direct resources to communities heavily affected by pollution and climate change. Participating groups must provide performance reports to guarantee responsible management of the allocated funds.

The U.S. Department of Energy has determined that the 2024 International Energy Conservation Code (IECC) will improve energy efficiency in residential buildings compared to the 2021 edition. This results in national savings of around 7.80% in site energy, 6.80% in source energy, and 6.60% in energy costs. Under federal law, each state must review and potentially update their building codes to meet or surpass the new 2024 IECC standards by December 30, 2026. The DOE provides guidance and technical assistance to support states in this process.

The final regulations from the Internal Revenue Service under the Treasury Department focus on implementing credits for producing clean hydrogen as part of the 2022 Inflation Reduction Act. These regulations cover how to assess greenhouse gas emissions, verify clean hydrogen production, and apply energy credits for hydrogen production facilities. They impact all taxpayers who either produce qualified clean hydrogen or use renewable energy sources to make it, aiming to encourage cleaner hydrogen production processes. The rules are effective from January 10, 2025.