News

Thursday, September 5, 2019

The U.S. Department of Housing and Urban Development (HUD) today published a revised notice that provides program instructions for the Rental Assistance Demonstration (RAD) program, including eligibility and selection criteria.

Wednesday, September 4, 2019

In a bench opinion, a United States Tax Court judge ruled that investors were bona fide partners in a refined coal production facility and were entitled to tax credits. The decision in Cross Refined Coal, LLC, USA Refined Coal, LLC, Tax Matters Partner v. Commissioner of Internal Revenue concerned whether Cross Refined Coal, LLC was a bona fide partnership and whether the tax credit investors were bona fide partners.

Wednesday, September 4, 2019

A bill that would have authorized an extension of California $500 million annual state low-income housing tax credit allocation increase for five years was held under submission in the state Senate’s Appropriations Committee, meaning it won’t advance in this year’s session. Assembly Bill 10 would have authorized the California Tax Credit Allocation Committee to allocate an extra $500 million annually for the state LIHTC through 2024.

Wednesday, September 4, 2019

The U.S. Department of Commerce published a request for information notice in Tuesday’s Federal Register seeking input on how the federal government can align various programs and resources to encourage and facilitate beneficial investments in opportunity zones (OZs). The Department of Commerce seeks information from states, local and tribal officials, colleges, nonprofits, philanthropic organizations and other investors and stakeholders.

Wednesday, September 4, 2019

The Community Development Financial Institutions (CDFI) Fund today announced the opening of the calendar year (CY) 2019 allocation round of the new markets tax credit (NMTC). Applications are due Oct. 28.

Wednesday, September 4, 2019

The Internal Revenue Service updated its Opportunity Zones Frequently Asked Questions (FAQs) page with guidance on when investors can adjust basis to fair market value, where a list and map of designated qualified opportunity zones (OZs) can be found, how to become a qualified opportunity fund and whether inventory in transit can be qualified OZ business property. The Sept.

Friday, August 30, 2019

The Community Development Financial Institutions (CDFI) Fund’s community development advisory board will hold a meeting Sept. 23 from 9 a.m. to 3 p.m., according to a notice that will be published in Tuesday’s Federal Register. The meeting will be in the Cash Room at the U.S. Department of Treasury, 1500 Pennsylvania Ave. NW in Washington, D.C. Written statements for the meeting must be submitted by 5 p.m. Sept. 12.

Thursday, August 29, 2019

Issues concerning the low-income housing tax credit (LIHTC), historic tax credit (HTC) and new markets tax credit (NMTC) remain part of the Treasury Department’s 2018-2019 Priority Guidance Plan.

Thursday, August 29, 2019

The U.S. Department of Housing and Urban Development (HUD) will publish in Friday’s Federal Register a notice of fair market rents (FMRs) for fiscal year 2020 and a response to public comments on a June notice announcing two method changes in the calculation of FMRs. The FMRs–which apply to the Housing Choice Voucher program, Moderate Rehabilitation Single Room Occupancy program and other HUD programs–are effective Oct.

Wednesday, August 28, 2019

New Mexico’s Economic Development Department is offering a $1 million bonus for opportunity zones (OZ) investments that meet certain benchmarks. The OZ Jobs Bonus will use existing Local Economic Development Act (LEDA) grant funding for developments that meet LEDA guidelines, are in one of nine key industry sectors and meet other criteria.