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On June 18, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued (T.D. 9998) (the “Final Regulations”) regarding compliance with the prevailing wage and apprenticeship requirements (the “PWA Requirements”) impacting many of the clean energy tax credits introduced or expanded by the Inflation Reduction Act of 2022 (the “IRA”).

On April 23, 2024, the United States Department of Labor released the final version of its rule that revises Fair Labor Standards Act (“FLSA”) regulations in order to increase the salary thresholds that must be satisfied in order for certain employees to qualify as exempt from the FLSA’s overtime payment requirements.

Attorneys from our Employment, Labor and OSHA and Tax groups discussed the prevailing wage and apprenticeship requirements in the Inflation Reduction Act.

In an attempt to address concerns about pay inequity, California and New York rang in the new year by implementing laws that require employers to include information about compensation ranges in job postings, joining Washington, Colorado and Connecticut, which have already implemented similar pay transparency laws.

Attorneys from our Employment, Labor and OSHA (ELO) and Tax Groups discussed the prevailing wage and apprenticeship requirements in the Inflation Reduction Act.