Sign Up Today!
Journal of Tax Credits Volume 5 Issue 1
Articles
As we look out on the horizon of the New Year, a number of recently enacted affordable housing and community development changes are expected to gradually reshape the tax credit landscape. And as 2014 progresses, several additional developments could create added obstacles or bridges to affordable housing, community development, historic preservation and renewable energy development.
Before we look at the “America’s Rental Housing: Evolving Market and Needs” report that the Harvard Joint Center on Housing Studies (JCHS) released in December, there is an update on the federal budget legislation that was a modest congressional achievement to end 2013. Before the House recessed for the holidays, the two Budget Conference Committee chairs, House Budget Committee Chairman Paul Ryan, R-Wis., and Senate Budget Committee Chairwoman Patty Murray, D-Wash., announced an agreement on fiscal year (FY) 2014 and FY 2015 discretionary spending levels.
On June 14, 2013, Texas Gov. Rick Perry signed into law a 25 percent state historic tax credit (HTC). With this new HTC, Texas joins more than 30 states that offer state-level HTCs.
The state’s development community welcomed this new tool and many expect it will help make numerous redevelopment projects in Texas not only viable, but attractive for investors.
The Historic Tax Credit Coalition’s (HTCC’s) advocacy last spring on behalf of effective yield accounting treatment for the federal historic tax credit (HTC) is paying early dividends. Responding to a call for comments, the HTCC made its case that the Financial Accounting Standards Board’s (FASB’s) Emerging Issues Task Force (EITF) should expand its consideration of effective yield accounting treatment for the low-income housing tax credit (LIHTC) to include the HTC and other credits including new markets and renewable energy tax credits.
News Briefs
On Nov. 15, the U.S. Department of Housing and Urban Development (HUD) designated difficult development areas (DDAs) for 2014. Qualified census tracts (QCTs) published on April 20, 2012 remain in effect. The notice also announced a change in the designation methodology
The U.S. Department of Housing and Urban Development (HUD) is soliciting comments on quality control for rental assistance subsidy determinations. In a notice published on Nov. 18, HUD announced that it is conducting a study to update its estimates of the extent and type of errors...
On Dec. 4, Rep. Brian Higgins, D-N.Y., spoke before the House of Representatives advocating for a permanent extension of the NMTC program. At press time, the program was set to expire Dec. 31. Higgins said that the program has been critical toward making successful...
On Dec. 4, Reps. Jared Polis, D-Colo., Ben Ray Luján, D-N.M., and Ann McLane Kuster, D-N.H. introduced the Renewable Electricity Standard Act of 2013 (H.R. 3654). The bill would establish the first national renewable electricity standard. It would require utilities to generate...
The Illinois State Property Revitalization Tax Credit Act (Senate Bill 341) has passed the Senate and been referred to the House rules committee. The bill provides a tax credit to offset the cost of redeveloping state facilities that closed within the last two years and had at least 100 employees...
Pages
Events Calendar
| S | M | T | W | T | F | S |
|---|---|---|---|---|---|---|
|
|
|
|
1
|
2
|
3
|
4
|
|
5
|
6
|
7
|
8
|
9
|
10
|
11
|
|
12
|
13
|
14
|
15
|
16
|
17
|
18
|
|
19
|
20
|
21
|
22
|
23
|
24
|
25
|
|
26
|
27
|
28
|
29
|
30
|
31
|
|