Poll: What’s on Your Radar?

Published by Michael Novogradac on Thursday, March 7, 2013 - 12:00am

As I write in this month’s Novogradac Journal of Tax Credits, a number of potential regulatory changes may have important consequences for the tax credit community.

  • Tax Credit Accounting – The FASB Emerging Issues Task Force (EITF) is set to consider a proposal to develop a new, principles-based accounting method for low-income housing tax credit investments at its March 14 meeting.
  • Historic Tax Credit Review – Interior Secretary Ken Salazar asked the National Park Service to conduct an internal review of the historic preservation tax incentives program to ensure that it is maximizing opportunities to use historic preservation to promote economic development and revitalization of communities, especially in urban areas.
  • Community Reinvestment Act Regulations – Progress continues on changes that could potentially enhance banks’ interest in tax credit investments in the form of changes to CRA regulations. Reports indicate regulators could begin putting proposals out for comment relatively soon.
  • Basel III – The implementation of Basel III capital requirements wouldn’t directly affect tax credits but would have ripple effects because of their significance to banks, which continue to dominate the pool of tax credit investors.
  • Volcker Rule - The Volcker Rule is particularly relevant to the tax credit community because it generally limits banks’ ability to make (and sponsor) equity investments, with certain exceptions.

Which of these developments are you watching?

Blog Poll What's on Your Radar
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