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Inflation Reduction Act
Endangered Species Act Developments: Court Finds Species Do Not Get The “Benefit Of The Doubt” & Agencies Propose Compensatory Mitigation Under ESA Section 7
Two recent developments may have meaningful impacts on the implementation of Section 7 of the Endangered Species Act (ESA). First, the DC Circuit Court of Appeals issued an opinion in Maine Lobstermen’s Association v. National Marine Fisheries Service and held...
Treasury Department and IRS Release Long-Awaited Guidance on Credit Transfers
On June 14, 2023, the Treasury Department and the Internal Revenue Service (IRS) released long-awaited guidance (the Credit Transfer Guidance) regarding the transfer of energy transition tax credits under Section 6418, [1] which was enacted under the Inflation Reduction Act...
Updated Texas Property Tax Incentives Program Adds New Wrinkles
Bracewell’s Bucky Brannen reviews differences between Texas’ new property tax incentives program and the previous version of the program, identifying potential obstacles and considerations for applicants.
Now There Are 10: The Texas Data Privacy and Security Act
Texas has joined the nine [1] other states that have comprehensive data privacy laws after Governor Greg Abbott signed the Texas Data Privacy and Security Act (the “TDPSA”). Subject to exemptions, [2] the TDPSA applies to any entity (labeled controller...
Treasury Department and IRS Release Additional Guidance for the Advanced Energy Project Credit Allocation Program
On May 31, 2023, the Treasury Department and the Internal Revenue Service (IRS) released Notice 2023-44 (the Notice). The Notice provides additional guidance for the new program under Section 48C(e) created by the Inflation Reduction Act of 2022 (the IRA)...
Environmental Essentials Webinar Series – Sackett II/WOTUS IX: Implementation of the Supreme Court’s Interpretation of “Waters of the US” Under the Clean Water Act
Bracewell’s Ann Navaro , Sara Burgin and Daniel Pope discussed the implications of the US Supreme Court’s recent decision in Sackett v. EPA for the reach of the Clean Water Act at the federal level and in the states. They...
Unanimous Supreme Court: Consumer Confusion Is Trademark Infringement Test, Even for Punny Parodies
It may be punny or even funny, but a unanimous Supreme Court has decided that the “Bad Spaniels” dog-toy brand may infringe and dilute the “Jack Daniel’s” trademark. [1] Last week’s opinion puts an end to the toy maker’s attempt...
Congress Amends NEPA in Effort to Reform Federal Permitting
On June 3, 2023, President Biden signed into law the Fiscal Responsibility Act. The law increased the debt ceiling and, among other things, amended the National Environmental Policy Act (NEPA). NEPA is a bedrock environmental law that has not seen...
Offshore Wind Litigation: Court Declines to Halt Vineyard Wind Construction
A federal court has denied a request by members of the fishing industry to pause offshore construction of the Vineyard Wind Project (Project), the first modern utility-scale offshore wind project in the United States to receive all permits and approvals...
Treasury Department and IRS Release Guidance on the New Domestic Content Bonus Credit
The domestic content bonus credit (the DC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy and storage projects constructed with sufficient US-sourced materials and components (the Domestic...
Warhol Decision May Lead to Copyright Licensing Spike
Artists beware—it’s not how hard you work but how differently you use the art that really matters. In the majority decision that governs, and as such, artists and copyright owners must now keep in the forefront of their minds the potential future uses of a work when evaluating whether the new creation is fair use or unlawfully derivative.
Offshore Wind Litigation: Court Denies Challenge to Major Offshore Wind Project
The federal government has successfully defended its approvals of the Vineyard Wind project offshore Massachusetts (Project), setting the stage for further decisions as other challenges proceed. Vineyard Wind is the first modern utility-scale offshore wind project to reach the construction...
Supreme Court Rules Andy Warhol’s Famous “Orange Prince” May Be Copyright Infringement
Today, in an opinion that purports to be narrow but will have sweeping implications, the Supreme Court ruled that Andy Warhol’s well-known “ Orange Prince ” illustration is not a transformative fair use of Lynn Goldsmith’s photograph of Prince. [1]...
FINRA Facts and Trends: May 2023
Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This month, we report on FINRA’s appearance at SIFMA...
EPA’s Proposal to Grant Class VI Primacy to Louisiana – Availability of Application Documents
On May 4, 2023, the US Environmental Protection Agency (EPA) published its proposal to approve revision of Louisiana’s Safe Drinking Water Act (SDWA) Underground Injection Control (UIC) program to add Class VI injection well primary enforcement responsibility (primacy) for Class...