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This information was published in the Novogradac Journal of Tax Credits. The complete version is available by paid subscription only. Click here for more information on subscribing.

Also in this Issue

  • Redeveloped Villas Kick-Start LIHTC Development in U.S. Virgin Islands

  • New Issue Bond Program Helps HFAs Achieve Record Production Levels

  • Demographic Data: The Method Behind the Numbers

  • Focus On
    Manhattan, N.Y.

  • Recertification and Processing Issues for LIHTC Properties with Project Based Vouchers

  • Q&A: Charging for Garages

  • One on One: Industry Insight
    Q&A with Denise Muha: Outlook for Section 202 and Section 811

  • Minnesota HTC Helps Bring Affordable Housing to Uptown Minneapolis

  • San Jose Closes Innovative NMTC Transaction

  • NMTC Working Group Update: February 2012

  • Q&A: Substantial Rehabilitation Testing Period

  • Q&A: Using State Rehabilitation Credits Part 1 of 3

  • State of the State Historic Tax Credits

  • The Current
    Don't Worry About Capital — I've Got a Rich Friend Who'd Like to Invest in My Energy Project

  • Fairfield Budweiser Plant Brews with a Breeze

 




Home / Journal
February 2012, Volume III, Issue II Published By Novogradac & Company LLP

This is an abridged web edition of the Novogradac Journal of Tax Credits. Subscribe here to receive the complete magazine.

Time Again for Tax Extenders

By Michael J. Novogradac, CPA

The inability of lawmakers to agree last year on how to pay for a year-long extension of the payroll tax holiday came with a thin silver lining for the affordable housing, community development and renewable energy communities: a conference committee that has been formed to create another piece of tax extension legislation that will likely be passed by February 29. That legislation would extend the payroll tax holiday, unemployment insurance and other provisions that expire at the end of February.

 

 

Q&A: Housing and Economic Reform Act Special Rent Limits

By Rodney C. Sommers, CPA, Novogradac & Company LLP

Question: After the end of the 15-year compliance period, can a low-income housing tax credit (LIHTC) property using the Housing and Economic Reform Act of 2008 (HERA) special income limits still use the HERA special income limits if a new allocation of credits is received?

Answer: No, the HERA special income limits cannot be used after the new credit allocation is received. The normal multifamily tax subsidy project (MTSP) income limits are used after the new credit allocation is received.

 

History and the Hill: Historic Tax Credit Recapture Study Supports Continued Exemption from Volcker Rule

By John Leith-Tetrault, National Trust Community Investment Corporation

With the February 13 deadline approaching for comments on the Volcker Rule, (Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act), History and the Hill has learned that the National Trust for Historic Preservation and Novogradac and Company LLP are preparing to release the first ever historic tax credit (HTC) recapture study. The timing couldn't be better and the findings on HTC investor recapture experience are very good news for the industry.

 

Q&A: Structuring Renewable Energy Projects in the Post 1603 Grant Era

By Tony Grappone, CPA, Novogradac & Company LLP

 

Question: How will developers whose renewable energy projects are not safe-harbored structure their deals and raise financing now that the Section 1603 grant has expired?

Answer: Although raising traditional tax equity is the obvious answer, developers are going to weigh all their options.

 


News Briefs


Estimates from American Community Survey (ACS) data published in December show that people living in poverty tend to be clustered in certain neighborhoods rather than evenly distributed across geographic areas...


The Kentucky Housing Corporation (KHC) announced changes that affect owners or managers that participate in affordable rental housing programs requiring annual performance reporting (APR) packets to be submitted to KHC's compliance department...


The U.S. Department of Housing and Community Development (HUD) provided $2.4 million to help public housing agencies supply permanent housing and case management for homeless veterans...


Michigan Gov. Rick Snyder enacted legislation in December to create incentive programs that will provide $100 million for competitive projects throughout the state...


Federal bank regulatory agencies announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association required by the Community Reinvestment Act (CRA)...


The Ohio Department of Development (ODOD) awarded $14.9 million in Ohio Historic Preservation Tax Credits under round seven of the program...


The Department of Energy's National Renewable Energy Laboratory (NREL) developed a new online geospatial application that allows users to map potential renewable energy resources in the United States...

  

 


 

The Novogradac  Journal of Tax Credits offers news, opinions and features about affordable housing, community development and renewable energy tax credit industries. The complete version is available by paid subscription only. Click here for more information on receiving a monthly print subscription.

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