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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.


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