News

Tuesday, January 28, 2020

Legislation introduced in the Utah state Legislature would make low-income housing tax credits transferrable and make other modifications to affordable housing in the state. S.B. 39 would allow Utah taxpayer to transfer both the federal and state LIHTC certificate to another taxpayer.

Tuesday, January 28, 2020

A report by the Joint Committee on Taxation discusses the ability to use private activity bonds (PABs), new markets tax credits (NMTCs) and the opportunity zones incentive to fund infrastructure projects.

Tuesday, January 28, 2020

Owners of homes in eligible distressed communities that are worth up to $120,000 per housing unit are now eligible for the Michigan neighborhood zone enterprise tax credit under a bill signed by Gov. Gretchen Whitmer. S.B. 319 raises the limit on the value of houses or apartments eligible for the credit from $80,000 to $120,000.

Monday, January 27, 2020

A bill introduced in the Kentucky House of Representatives would increase the annual overall and transaction-level state historic tax credit (HTC) ceiling and make properties in rural counties eligible for the maximum percentage. H.B. 325 would increase the annual statewide cap from $5 million to $30 million starting April 30, 2020.

Monday, January 27, 2020

Ben Carson, secretary of the U.S. Department of Housing and Urban Development (HUD), today announced a bus tour across the nation focused on removing barriers to affordable housing. The Driving Affordable Housing Across America tour will begin Wednesday in Louisville, Ky., and will continue through June.

Friday, January 24, 2020

To be eligible for the new round of allocation authority, community development entities (CDEs) that received prior allocations of new markets tax credits must submit their qualified equity investments (QEIs) to the Community Development Financial Institutions (CDFI) Fund by the end of day Jan.

Thursday, January 23, 2020

A bill introduced in the Hawaii state Senate would permanently extend the state low-income housing tax credit (LIHTC) and require that all state credits be taken over five years. S.B. 2970 would eliminate the Dec. 31, 2021, sunset date for the state’s LIHTC and would change a previous condition that assigned any LIHTCs not claimed in the first five years after the property has been placed in service to the sixth year.

Tuesday, January 21, 2020

A private letter ruling from the Colorado Department of Revenue concludes that state law follows federal law for partnerships formed for investment in federal and state low-income housing tax credit (LIHTC) developments.

Tuesday, January 21, 2020

Legislation introduced in the Hawaii House of Representatives would clarify that a power purchase agreement approved by the state public utilities commission before Dec. 31, 2019, would receive a 35 percent investment tax credit up to the applicable cap amount of $500,000. The text of H.B.

Friday, January 17, 2020

Legislation in the Arizona Legislature would extend the state’s renewable energy production tax credit (PTC), while reducing the annual cap. H.B. 2290 would extend the sunset date for the state PTC by 10 years to Jan. 1, 2031, while decreasing the annual cap per taxpayer from $2 million to $200,000 beginning Jan. 1, 2021. The annual statewide cap would remain $20 million.