CPE for 08.22 Novogradac LIHTC Acq/Rehab Overview Webinar

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Novogradac is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

Instructional delivery method: Group internet

Learning Objectives:

  • Differentiate between acq/rehabs in general and “resyndications”
  • Associate the proper tax credit percentage with its respective building type: new construction, existing vs. rehab, bond vs. 9 percent
  • List the criteria under which a building can obtain a 30% boost to its eligible basis
  • Identify when a unit can first start to count as “low-income qualified”
  • Among various dates, pick when the acquisition tax credit percentage should be determined
  • Apply the tack-back rule to scenarios in which a building with LIHTC qualified tenants is acquired in one year and placed in service in another
  • Define the ten-year hold rule
  • List five transfers of property ownership that don’t restart the 10-year hold rule
  • Apply the related-party rule to an acquisition of property to ensure the new  partnership can claim acquisition credits
  • Differentiate between acq/rehabs in general and “resyndications”
  • Associate the proper tax credit percentage with its respective building type: new construction, existing vs. rehab, bond vs. 9 percent
  • List the criteria under which a building can obtain a 30% boost to its eligible basis
  • Identify when a unit can first start to count as “low-income qualified”
  • Among various dates, pick when the acquisition tax credit percentage should be determined
  • Apply the tack-back rule to scenarios in which a building with LIHTC qualified tenants is acquired in one year and placed in service in another
  • Define the ten-year hold rule
  • List five transfers of property ownership that don’t restart the 10-year hold rule
  • Apply the related-party rule to an acquisition of property to ensure the new  partnership can claim acquisition credits
  • Determine whether existing tenants in an acquisition property are LIHTC qualified based on the 120-day initial certification rule and the grandfathering rule
  • Identify the circumstances under which previously qualified units that are vacant as of the beginning of the tax credit period can count as LIHTC qualified
  • Identify when income and rent limits should be implemented for acq/rehab properties and resyndicated Acq/rehab properties
  • List the three approaches for managing old and new regulatory agreements for resyndicated properties
  • Identify when a rehab building can be considered placed in service according for tax credit percentage purposes according to the minimum rehab expenditures threshold to be considered placed in service
  • Apply strategies for maximizing credits related to the dates of acquisition, rehab completion and investor closing, as well as the proximity of existing tenants’ incomes to the income limits

Level: intermediate 

Prerequisites: None

Advance preparation required: None

Field of Study: Taxes

Recommended Credit Hours: 3

In accordance with the standards of the National Registry of CPE Sponsors, CPE credits for this course are based on a 50-minute hour group-Internet based instructional method and responses to three attendance monitoring activities (usually in the form of polling questions) per credit. Failure to participate in the entire live webinar will result in partial or no CPE credit.

Note: Multiple paid registrants within an organization may choose to watch the webinar on one screen. In situations where small groups view a webinar, for multiple members of the group to claim CPE credit it is not necessary for the individuals in the group to respond to polling questions individually. The person logged into the program may respond to the polling on behalf of the group and the monitoring of active participation of the individuals in the small group will be documented and verified by the small group administrator.

If you are watching the webinar in a group and wish to be eligible to claim CPE credit for multiple members of the group, please print and fill out the Small Group Sign-In Sheet (also provided during the webinar) and submit it to [email protected].

Policy for addressing concerns or issues with Continuing Professional Education delivered by Novogradac & Company 

Please address any questions or concerns regarding CPE at Novogradac & Company workshops, webinars or on-demand courses to the Events Desk at 415-356-7970 or [email protected].

Unresolved issues or concerns regarding registered CPE sponsors may be reported to the National Registry of CPE Sponsors and submitted online at www.nasbaregistry.org/cpas/complaints.

Note also that although recordings of most webinars are available for purchase, unless specifically stated, CPE is NOT available for webinar recordings.