Greenbook Highlights – 2012

Published by Michael Novogradac on Friday, February 11, 2011 - 12:00am

Here are some initial highlights from the FY 2012 Greenbook

NMTC

Page 19 (27 of the PDF) – extend NMTC through 2012 and provide $5 billion; allow NMTC to offset AMT

LIHTC

Page 22 (30 of the PDF) –  Allow LIHTC-supported projects to elect an average-income criterion; provide 30 percent basis boost to 4% deals

Energy

Page 15 (23 of PDF) – $5 billion more for Section 48C

Extend Section 1603 Exchange through 2012

Historic

Page 17 (25 of PDF) – Section 179D tax credit ‘Better Buildings Initiative’

Build America Bonds

Page 21 (29 of PDF) Make Build America Bonds permanent

Taxation of Carried Interests

Page 61 (69 of PDF) Taxes profits from carried interests as ordinary income

Tune in to the Tax Credit Tuesday Podcast on February 15 for a discussion of the FY 2012 budget proposal.

(And stay tuned for a detailed look at the proposed budget for 2012 and the upcoming action expected on the continuing resolution for FY 2011 — currently being drafted to appear in the March Journal of Tax Credits.)