Reference Standard 90.1-2022 is the applicable reference standard required under section 179D(c)(2)
The IRS today released Announcement 2024-24, notifying taxpayers that Reference Standard 90.1-2022 is the applicable reference standard required under section 179D(c)(2) for energy efficient commercial building property (EECBP) placed in service after December 31, 2028, and the construction of which did not begin by December 31, 2022.
Announcement 2024-24 supplements and supersedes Announcement 2023-1, which previously notified taxpayers of the applicable reference standard required to be used to determine the amount of the EECBP deduction allowed under section 179D, as amended by Pub. L. No. 117-169 (commonly called the “Inflation Reduction Act of 2022” (IRA)).