WASHINGTON (Reuters) - A group of U.S. lawmakers said on Wednesday that they plan to push ahead in the new year to change the tax code so renewable energy projects could qualify for beneficial tax structures commonly used by pipelines and other energy-related companies.
Democratic and Republican sponsors of proposed legislation said they think momentum is growing for their idea to allow wind, solar, biofuel and other renewable projects to structure as "master limited partnerships" (MLPs).
The structures allow companies to raise money in the stock market, while having income taxed only at the unit holder level, thus avoiding corporate income taxes.
