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32 Pace Envtl. L. Rev. 285 (2015)
The Master Limited Liability Partnerships Parity Act: Friend or Foe

handle is hein.journals/penv32 and id is 295 raw text is: ARTICLE The Master Limited Liability Partnerships Parity Act: Friend or Foe? SONIA J. ToSON* In April of 2013, Democratic Senator Chris Coons of Delaware introduced legislation that seeks to level the playing field between renewable and non-renewable energy companies. Titled the Master Limited Partnerships Parity Act (MLPPA), the legislation would amend the federal tax code to allow renewable energy companies to form master limited partnerships and thereby gain valuable financing and tax advantages. This legislation would clear the way for the formation of master limited partnerships investing in renewable energy, which would have significant impact on clean energy production in the United States. This article discusses the Master Limited Partnerships Parity Act and explores the advantages and disadvantages of master limited partnerships as a business organization for renewable energy companies and ultimately argues for the passing of this valuable legislation. The article is divided into six sections. Part I defines master limited partnerships and examines their corporate structure and how they operate as compared to other types of business organizations. Part II delineates the history and evolution of master limited partnerships over the last thirty years. Part III describes the Master Limited Partnerships Parity Act, including its history, purpose and aims. Part IV then details the * Assistant Professor of Law, Kennesaw State University. The author wishes to acknowledge the Sisters of the Academy (SOTA) organization and the organizers and participants of the 2013 SOTA Research BootCamp held at Florida State University. I am particularly grateful to Dr. Celeste Walley-Jean, Dr. Cassandra R. Cole and Prof. Shakealia Finley for their invaluable guidance and insight on this article. 285

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