USDA Magazine Article Discusses Management of Capital Credits and Patronage Dividends The USDA publishes a bi-monthly magazine, Rural Cooperatives, which covers various issues encountered by… Read More »USDA Magazine Article Discusses Management of Capital Credits and Patronage Dividends
This blog post was written by AHC attorney Roland F. Hall.
Electric Cooperatives Face Increasing Scrutiny Over Net Metering Issues
Net metering is a billing mechanism that allows consumers to receive credit for electricity they generate from small-scale renewable energy resources and transfer onto the grid. The details of how net metering works, such as the value placed on energy produced and the handling of next exports, vary among the states and electric utilities that have net metering policies in place. Read More »Electric Cooperatives Face Increasing Scrutiny Over Net Metering Issues
FEMA Disaster Relief Withheld from Electric Cooperatives Electric cooperatives in Iowa were surprised by FEMA’s rejection of disaster aid, according to this article. The utilities… Read More »FEMA Disaster Relief Withheld from Electric Cooperatives
Like public utilities, municipalities and other political subdivisions that provide electricity to customers must procure wholesale power. A recent IRS ruling discusses municipalities’ use of… Read More »Cooperative Tax Brief: Municipalities’ Generation Cooperative
The Federal Highway Administration issued an interpretation of 23 U.S.C. Section 313(g) to apply the Buy America Requirement to utility relocations. Given the importance of federal funding to highway projects and the inevitable need for utility relocations, this interpretation can have important impacts on utility cooperatives. Read More »FWHA Imposes Buy America Requirement to Utility Relocations
A federal appellate court recently addressed a distribution cooperative’s lawsuit against a G&T cooperative with which it had a power purchase agreement. Though the lawsuit alleged the G&T cooperative breached the PPA, the latest ruling focused on whether federal courts have jurisdiction to hear the claim. Ultimately, the courts concluded that the claim belonged in state court, as it did not involve a question of federal law. Read More »Cooperative’s PPA Lawsuit Against G&T Remanded
This post comes from CFC Solutions Newsletter, Vol. 15, No. 25, July 1, 2013.
CFC recently filed comments with the Financial Accounting Standards Board (FASB) and Private Company Council (PCC) in response to an invitation to comment on private company financial accounting and reporting standards. CFC’s comments support the continued use of ASC 980 Regulated Operations—formerly Statement of Financial Accounting Standards No. 71.Read More »Guest Post: CFC Comments on Accounting Standards
AHC has formed a group on LinkedIn for business cooperatives. Here is a summary of the group and its purpose.
Business Cooperatives is dedicated to connecting business cooperatives and their leaders. By sharing their expertise and experiences, members will stay informed about cooperative operation, member relations and customer service, laws, finances, and taxes.Read More »New LinkedIn Group for Business Cooperatives
In its 2013 Workplan, the IRS reported a “high level” of incorrect reporting by Section 501(c)(12) cooperatives. These errors primarily related to “miscalculation and misreporting” of member income percentages.
The IRS conducted a compliance check of Section 501(c)(12) cooperatives. The compliance check involved questionnaires and examinations. The IRS concluded that one-fourth of the cooperatives either (i) failed the Member Income Test or (ii) were not being operated on a cooperative or mutual basis. Given the high number of irregularities, cooperatives would be well advised to review these two important requirements. Read More »IRS Scrutinizes Section 501(c)(12) Cooperatives
Cooperatives have been given conflicting guidance from the IRS concerning the proper treatment of discounting of capital credits. Specifically, some pronouncements indicate that the discount… Read More »Discounted Capital Credits and the Member Income Test: The Creation of a New Equity Account
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