Client Alert
| April 19, 2010
Transmission REIT Transaction Pending Before FERC
As those who follow developments in electric transmission issues are aware, a 2007 Internal Revenue Service ("IRS") private letter ruling opened up the possibility of real estate investment trust ("REIT") ownership of electric transmission systems. Given the significant interest in transmission investment throughout the country, facilitating access to a significant pool of public equity capital through an investment vehicle that offers significant tax benefits could be a welcome development. However, until now, we are not aware of any taxpayer relying on the 2007 IRS ruling to form a transmission REIT.
For more information, please contact your Dewey & LeBoeuf relationship partner, or one of the following:
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
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