Journal of Tax Credits Volume 6 Issue 7
Articles
The New Markets Tax Credit (NMTC) program officially has a dozen funding rounds under its belt. On June 15, the Community Development Financial Institutions (CDFI) Fund announced the 76 community development entities (CDEs) selected to receive $3.5 billion in NMTC allocation authority under the calendar year 2014 round of the program. ...
On June 15, the last currently authorized round new markets tax credit (NMTC) authority allocations were announced. Seventy-six community development entities (CDEs) were awarded $3.5 billion in NMTC allocation authority to spur investment in low-income communities around the country.
The National Coalition for the Homeless identifies housing cost as a primary driver of homelessness in the United States. The coalition’s website states: “Housing represents the fundamental base-solution to the problem of homelessness, with the lack of affordable housing and the limited scale of housing assistance programs contributing to the current housing crisis and to homelessness.
A single low-income housing tax credit (LIHTC) allocation will often be awarded to a development that consists of more than one physical building. Each building will receive its own Internal Revenue Service (IRS) Form 8609. Unless otherwise elected on IRS Form 8609 by the taxpayer, each building in an LIHTC development will be treated as its own development/entity. ...
News Briefs
On May 26, Washington Gov. Jay Inslee and Iowa Gov. Terry Branstad, chairman and vice chairman of the Governors’ Wind Energy Coalition, sent a letter to House and Senate leadership advocating for the approval of a multiyear extension for the production tax credit (PTC) ....
On May 12, Georgia Gov. Nathan Deal signed H.B. 308 (Act 211) into law. The bill amends Title 48, Chapter 7, Article 2 of the Official Code of Georgia Annotated and revises the tax credit for rehabilitation of historic structures. ...
On May 27, the U.S. Department of Housing and Urban Development (HUD) published a new Frequently Asked Questions (FAQs) for the Community Development Block Grant (CDBG) program. ...
The Community Development Financial Institutions (CDFI) Fund released 2003-2013 data and a summary report for the NMTC program June 2. The data is compiled from annual reports submitted by community development entities (CDEs) that have been awarded NMTC allocations. ...
On May 21, Sens. Al Franken, D-Minn., and Rob Portman, R-Ohio, introduced the Housing for Homeless Students Act of 2015 (S. 1412). The bipartisan bill would expand the eligibility criteria of the low-income housing tax credit ...
