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

CPE: 1 Credit Hour

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.

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

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.