Direct Pay Energy Tax Credits and USDA Funding Opportunities for Electric Cooperatives

Date: Thursday, April 11, 2024
Time: 02:00 PM ET / 01:00 PM CT / 12:00 PM MT / 11:00 AM PT [Prevailing Time]
Presenters: Paul Gutierrez, Legislative Affairs Director, National Rural Electric Cooperative Association, Luke Theriot, Regulatory Affairs Director, National Rural Electric Cooperative Association, Bill Miller, CPA, Tax Partner, Bolinger, Segars, Gilbert & Moss, LLP
Learning Objectives:
• What energy tax credit are eligible for direct pay (elective payment)
• Pre-registration, prevailing wage, apprenticeship, domestic content provisions
• Base credit and bonus credit amounts and requirements
• PACE, New ERA and other loan and grant funding opportunities
Field of Study: Finance
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.
Members should visit the Recordings Catalogue to view all available recordings for free and on-demand. Join NSAC today to enjoy this benefit.
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Course Description

Do you want to learn about direct pay referred to as “Elective Payment” for energy tax credits in the Inflation Reduction and USDA Funding Opportunities such as PACE, New ERA, and other loans and grants for electric cooperatives? You won't want to miss this 60-minute Zoom with Paul Gutierrez, Legislative Affairs Director at NRECA, Luke Theriot, Regulatory Affairs Director at NRECA, and Bill Miller, Tax Partner at Bolinger, Segars, Gilbert & Moss. Our expert panel will give you a broad overview of what energy tax credits are eligible for direct pay and discuss the requirements to receive the full value of eligible tax credits and bonus credits. Furthermore, they'll explore two newly introduced grant opportunities at USDA and revisit long-standing loan and grant programs offered through the Rural Utilities Service. Register today to gain a deeper understanding of direct pay for energy tax credits and USDA funding opportunities.

Presenter and Moderator Bios

Presenter: Paul Gutierrez, Legislative Affairs Director, National Rural Electric Cooperative Association

Paul Gutierrez works as a lobbyist at the NRECA. He has been with NRECA since October 2013. His responsibilities include working on legislative and regulatory policy, strategies, outreach, and coalition coordination regarding taxes and transportation. Most recently he was instrumental in securing elective pay for energy tax credits in the Inflation Reduction Act.

He worked as a political appointee and government relations professional in Washington DC and the State of New Mexico. From 2007 to 2013 Gutierrez served as the Executive Director for New Mexico Association of Counties. He previously served as the Deputy Assistant Secretary for Civil Rights at USDA and was state director for both the Rural Development and Farm Service Agencies in New Mexico.

Gutierrez, a native of Magdalena, New Mexico grew up on a cow-calf ranch and small farming operation. He earned a B.S. degree in agricultural economics from New Mexico State University.

Presenter: Luke Theriot, Regulatory Affairs Director, National Rural Electric Cooperative Association

Luke Theriot is a Regulatory Affairs Director at the National Rural Electric Cooperative Association (NRECA). In this role, Luke advocates on behalf of electric cooperatives at the U.S. Department of Agriculture on issues regarding the Rural Utilities Service, rural development and renewable energy issues.

Before joining NRECA, he was Chief of Staff at the USDA’s Agricultural Marketing Service where he concentrated on issues related to the supply chain, transportation and regional food systems. Prior to that, Luke spent a decade working for the US Congress in both the Senate and House of Representatives, where he worked for multiple Members, as well as the House Agriculture Committee and the Senate Committee on Energy and Natural Resources. Luke also spent several years at the Louisiana Department of Agriculture managing legislative affairs and daily operations. He started his two-decade career of public service as a Peace Corps volunteer in Morocco. Luke has a Bachelor of Science in Agribusiness from the Louisiana State University.

Presenter: Bill Miller, CPA, Tax Partner, Bolinger, Segars, Gilbert & Moss, LLP

Bill Miller, CPA is a partner with the accounting firm of Bolinger, Segars, Gilbert & Moss in Lubbock, Texas. He began his career with the firm in 1992 and holds a degree in accounting from the University of Texas in Austin. Bill is in charge of the firm's utility and cooperative tax practice, providing tax and consulting services to exempt and non-exempt utility cooperatives, including related subsidiaries. Traditional responsibilities include tax research, tax planning, recommending entity types for new business ventures, and oversight of tax return preparation. Cooperative-specific responsibilities include compliance with co-op principles and plans to allocate and redeem patronage capital. In addition to working with the firm's audit clients, Bill has consulted with trade associations in providing guidance on tax and equity issues pertaining to the electric cooperative industry. Past guidance includes consulting with the 2005 Capital Credits Task Force and also providing technical assistance on a national level regarding the tax impact of proposed legislation onelectric cooperatives. Bill is active in the National Society of Accountants for Cooperatives. He has served as a past National President and a National Director representing the Electric Cooperative Chapter. Bill was also the 2023 recipient of the NSAC Silver Bowl Award. Bill and his wife Kim, along with their two children, reside in Lubbock, Texas.

Free for NSAC Members / $56.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.


All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or