Tax Advisory Services for ITC Elective Pay Filing

Background

The Town of Wellesley, Massachusetts, through its Select Board Office, Finance Department, and Climate Action Department, is seeking proposals from qualified firms or individuals to provide professional Tax Advisory services related to the federal Investment Tax Credit (ITC) elective pay mechanism under Section 6417 of the Internal Revenue Code. This was enacted by the Inflation Reduction Act of 2022. The goal is to successfully pre-file for, file for, and receive elective pay for a Clean Electricity ITC (Section 48E) for three solar photovoltaic systems located on Town property.

Work Details

The Tax Advisor will collaborate with Town staff and design/construction contractors to manage the following tasks: 1. Pre-file and file for elective pay for three rooftop solar PV systems at Hardy Elementary School (430 kW DC), Hunnewell Elementary School (374 kW DC), and the Recycling and Disposal Facility (RDF) administrative building (46 kW DC). 2. Ensure eligibility for elective pay by identifying risks associated with design, procurement, and construction. 3. Establish start-of-construction dates prior to December 31, 2025, for Hardy and Hunnewell schools. 4. Demonstrate compliance with continuous progress requirements. 5. Seek domestic content bonuses where applicable. 6. Mitigate foreign entity risks as permitted by law. 7. Conduct final cost analysis to maximize eligible costs for elective pay filings.

Period of Performance

The contract is anticipated to commence in June 2026 and conclude in April 2028, aligning with the tax filing period ending in May 2028.

Place of Performance

The services will be performed at various locations within the Town of Wellesley, Massachusetts, specifically at Hardy Elementary School, Hunnewell Elementary School, and the Recycling and Disposal Facility.

Bidder Requirements

Proposers must demonstrate experience advising tax-exempt or governmental entities on claiming ITC through elective pay pursuant to IRC §6417. They should maintain Professional Liability coverage of $2 million per claim / $4 million aggregate, General Liability coverage, and Cyber/Privacy coverage appropriate for handling confidential data.