Treasury and IRS Release Proposed Regulations on IRA’s Prevailing Wage and Apprenticeship Requirements

Offshore wind farmOn August 29, 2023, the Treasury and the IRS formally proposed rules on the IRA’s prevailing wage and apprenticeship requirements. The new regulations mark the first time developers have received guidance on complying with the IRA’s requirements since November 29, 2022, when the IRS released its initial guidance on the IRA’s requirements and notified the public that those requirements would go into effect for qualified facilities beginning construction on or after January 29, 2023. A public hearing on the new regulations will be held on November 21, 2023 at 10:00 a.m. Eastern Standard Time, where the Treasury and the IRS will consider any public comments submitted.

Read our full alert on the topic, here.

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