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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

  • Accounting Update: Investment Property Carried at Fair Value?

  • Tax Credit for Small Employers' Employee Health Insurance Expenses

  • Enterprise Releases Updated Green Communities Criteria

  • Enhanced Fund Structure Offers Senior, Subordinate Investment Options

  • Early Transfer Preserves Affordable Housing Developments

  • Understanding New, More Detailed Census Data

  • Focus On: Gulfport-Biloxi, Mississippi

  • California Developers Moving From 9 Percent Deals to Bond Projects

  • Riverside Development Benefits from Flood of Funding

  • States Begin Collecting LIHTC Tenant Data

  • Q&A: Can I Charge for Parking?

  • HUD Grant Funds Net-Zero Public Housing Units

  • Tax Credits Revitalize Abandoned Mill Building

  • NMTCs Take Center Stage in Performing Arts High School Expansion

  • Business Incubator Fosters Bioscience, Cleantech and Technology Companies

  • Q&A: Calculating the Non-Qualified Financial Property Percentage

  • NMTC Working Group Update

  • Industry Profile: Donovan Rypkema

  • History and the Hill: Historic Boardwalk Hall

  • Thin-Film Solar Panel Manufacturer Secures $400 Million Loan Guarantee

  • Q&A: 100 Percent Bonus Depreciation

Home / Journal / 2011 / 02
February 2011, Volume II, Issue II Published By Novogradac & Company LLP

Impact of Political Climate Change on Tax Credit Legislative Agenda

By Michael J. Novogradac, CPA

The 112th Congress convened in early January and the topics of tax reform, deficit reduction and fiscal policy were front and center as lawmakers discussed goals and priorities for the year. As the affordable housing, community development and renewable energy communities chart their legislative courses for 2011 it is important to understand the challenges they will likely face amidst political climate change.

 

 


Multifamily Finance: The Neglected Issue in the Fannie-Freddie Debate

By Peter Lawrence, Enterprise Community Partners

By the time you read this column, the Obama Administration will have (or at least should have, according to congressional mandate) released its plan to reform the U.S. mortgage finance system, with much of the focus, attention and controversy on how the plan proposes to restructure the two titans of mortgage finance: Fannie Mae and Freddie Mae, also known as housing government sponsored enterprises (GSEs).

 

States' Use of Basis Boost Reflects Their Priorities

By Mark Shelburne, North Carolina Housing Finance Agency

While the low-income housing tax credit (LIHTC) industry has spent a great deal of time discussing stimulus funding, from a long-term perspective the more consequential legislation was enacted a year before the American Recovery and Reinvestment Act.

 


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Q&A: Historic Tax Credit Recapture Basics

By Charles A. Rhuda III, CPA, Novogradac & Company

Question: What can cause recapture of federal rehabilitation (historic) tax credits? How is recapture calculated?

Answer: A historic building that has been subject to a "qualified rehabilitation" may be required to recapture all or a portion of the rehabilitation claimed if a recapture event occurs. The following are considered recapture events:

 

The Current: Historic Boardwalk Hall – What Does it Mean for Renewable Energy?

By Forrest David Milder, Esq., Nixon Peabody LLP

As ably discussed by my friend John Leith Tetrault in this issue of the Journal, the Tax Court delivered something of a blockbuster decision right at the start of 2011.

 


News Briefs


The Securities and Exchange Commission (SEC) approved a proposed rule to expand its definition of "municipal advisors" to include the appointed board members of housing and other government finance agencies.


The U.S. Department of Housing and Urban Development (HUD) now requires owners and managers of properties with project-based Section 8 rental assistance contracts or Section 202 or 811 project rental assistance contracts to obtain Dun and Bradstreet Numbering System (DUNS) numbers and to register in the Central Contractor Registration (CCR).

The U.S. Department of Housing and Urban Development (HUD) last month announced fiscal year (FY) 2010 Section 8 Housing Choice Voucher (HCV) program funding awards to public housing agencies.


Colorado Gov. Bill Ritter announced two programs that will finance energy efficiency improvements in the state's commercial buildings and renewable energy businesses.


Enterprise Community Investment and Citi Community Capital closed on a combined $25 million new markets tax credit (NMTC) transaction to finance the construction of a new facility for the Whittier Street Health Center in Boston, Mass.


Lisa Craig joined the city of Annapolis, Md. as the city's chief of historic preservation.


Rep. Lloyd Doggett, D-Texas, reintroduced a bill in January to establish an investment tax credit for waste-to-energy facilities.

  

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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