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The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund updated its guidance and information this month for the fiscal year (FY) 2021 application round on its website.
The Georgia Department of Revenue will hold a meeting Nov. 3 at 10 a.m. ET to discuss a proposed rule that would establish the process for preapproval of claims for the state historic tax credit (HTC) for historic homes and certified structures earning less than $300,000. Proposed Rule 560-7-8-.56 would bring the state HTC regulations into conformity with state law. The rule would retain the statewide annual cap at $5 million for HTCs for historic homes and any certified structure earning $300,000 or less.
Legislation introduced in the Ohio state Senate would temporarily increase the statewide cap for the state historic tax credit (HTC) and the state opportunity zone (OZ) investment tax credit and make other modifications. S.B. 225 would increase the annual state HTC cap to $120 million for fiscal years 2022 and 2023 from the current $60 million cap and increase the transaction cap to $10 million from the current $5 million for fiscal years 2021, 2022 and 2023. The legislation would also increase the state HTC from 25% to 35% for HTC properties in communities with populations less than 71,000 according to the 2020 census. S.B. 225 would also increase the statewide OZ investment credit cap from $50 million to $100 million for the period of July 1, 2021, to June 30, 2023, reverting to $50 million per biennium after that.
The Arizona Department of Housing published a notice of funding availability (NOFA) for 2021-2022 state housing fund that includes additional funding and expanded eligibility for properties that received 9% low-income housing tax credit (LIHTC) reservations in 2020 and have experienced cost overruns.
Delaware Gov. John Carney signed Sept. 15 legislation to extend the state historic tax credit (HTC) by nine years. S.B. 182 moves the credit’s sunset date to June 30, 2030, from June 30, 2021. Delaware’s HTC is for 20% of qualified expenditures for properties eligible for the federal HTC.
The Decent, Affordable, Safe Housing for All (DASH) Act was introduced today by Senate Finance Committee Chair Sen. Ron Wyden, D-Oregon.
The Ohio Department of Development opened Tuesday the window to apply for its Transformational Mixed Use Development program, which provides a tax credit against costs incurred while building a development. One-hundred million dollars is available in estimated tax credits per year for fiscal years (FY) 2022, 2023, 2024 and 2025.
The California Debt Limit Allocation Committee issued its agenda Friday for its Sept. 29 meeting, which includes a recommendation to adopt emergency regulations to restore and reinstate previous emergency packages.
The U.S. Department of Housing and Urban Development (HUD) Office of Multifamily Housing published Notice H 2021-05 Thursday opening the application period for supplemental funding due to the COVID-19 pandemic for properties receiving assistance as part of the Section 8, Section 202 or Section 811 programs.
Novogradac has convened a working group to examine the effects of a surprise announcement by the U.S. Census Bureau of a year 2020 data collection issue. In July, the U.S. Census Bureau announced that it will not publish 1-year American Community Survey (ACS) data for 2020.
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