News

Thursday, April 9, 2020

Three tax incentive working groups led by Novogradac submitted comment letters to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, asking the agencies to make significant changes to their joint notice of proposed rulemaking for Community Reinvestment Act (CRA) regulations.

Thursday, April 9, 2020

The Community Development Financial Institutions (CDFI) Fund  has announced an extension of application deadlines for the fiscal year 2020 rounds of the CDFI program and the Native American CDFI Assistance (NACA) program, due to the COVID-19 pandemic.

Wednesday, April 8, 2020

The Office of Multifamily Housing at the U.S. Department of Housing and Urban Development (HUD) posted a recording today of its most recent COVID-19 response call, which provides an overview of applicable issues in the Coronavirus Aid, Relief and Economic Security (CARES) Act.

Wednesday, April 8, 2020

The Internal Revenue Service today released Rev. Proc. 2020-23, which allows partnerships to amend 2018 and 2019 tax returns, in some circumstances, in order to take advantage of bonus depreciation changes in the Coronavirus Aid, Relief and Economic Security (CARES) Act as well as any other tax attributes to which the partnership is entitled by law.

Wednesday, April 8, 2020

The California Tax Credit Allocation Authority announced several scheduling and deadline changes for low-income housing tax credit (LIHTC) developments in the state due to the COVID-19 pandemic.

Tuesday, April 7, 2020

Legislation signed into law in Utah allows state and federal low-income housing tax credits to be transferred and provide a one-time extra allocation to the Olene Walker Housing Fund. Under S.B.

Tuesday, April 7, 2020

The Opportunity Zones Working Group (OZWG) today submitted a request to the Department of the Treasury, seeking relief from certain provisions concerning the opportunity zones (OZ) incentive due to the COVID-19 pandemic.

Tuesday, April 7, 2020

The National Low Income Housing Coalition (NLIHC) today released an analysis showing that Congress must invest up to $100 billion over the next year to keep lowest-income households stably housed in the wake of the COVID-19 pandemic.

Monday, April 6, 2020

The Office of the Comptroller of the Currency last week made public 28 Community Reinvestment Act performance evaluations from March. Twenty-two evaluations were satisfactory and six were outstanding. The evaluations were for national banks, federal savings associations and insured federal branches of foreign banks.

Thursday, April 2, 2020

The U.S. Department of Housing and Urban Development (HUD) this week published a notice to implement fiscal year 2020 funding for the housing choice voucher program.