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Novogradac Journal of Tax Credits Volume 10 Issue 12

Abridged version of the December 2019 issue of the Novogradac Journal of Tax Credits. For more content, please subscribe to the Journal.

Journal cover December 2019


Caroline Gallegos

Friday, December 6, 2019

Meals on Wheels of San Francisco Inc. (MOWSF) is building a new state-of-the-art kitchen which will allow it to expand, increase meal production and continue its mission of helping people stay in their homes and remain independent.

John Sciarretti

Thursday, December 5, 2019

The opportunity zones (OZ) incentive is a tool designed to spur economic development and job creation in distressed communities by closing the financing gap that has prevented low-income communities from achieving economic development success.

Scot Keller

Wednesday, December 4, 2019

During 2019, the Low-Income Housing Tax Credit (LIHTC) Working Group focused its efforts on a number of legislative and regulatory items that the group identified as warranting attention.

Teresa Garcia and Peter Lawrence

Tuesday, December 3, 2019

As banks eye the upcoming Dec. 31, 2019, deadline to invest in a qualified opportunity fund to get the maximum tax benefit, the Novogradac Journal of Tax Credits spoke with Barry Wides, deputy comptroller for community affairs at the Office of the Comptroller of the Currency (OCC).

Michael J. Novogradac

Monday, December 2, 2019

Another affordable rental housing funding crisis is brewing–a crisis in the supply of private activity bonds (PABs). The crisis is one of demand, as well as one of choices.

News Briefs

Friday, December 6, 2019

California Gov. Gavin Newsom signed S.B. 451 into law Oct. 9 to create a state historic tax credit (HTC).

Friday, December 6, 2019

The New Home Energy Efficiency Act (S.B. 2595 and H.R. 4646) was introduced Oct. 15 and includes a provision to reinstate and increase the Internal Revenue Code Section 45L credit for energy efficient new homes.

Friday, December 6, 2019

The Community Development Financial Institutions (CDFI) Fund Oct. 3 released an updated new markets tax credit (NMTC) application and NMTC application frequently asked questions document.

Thursday, December 5, 2019

The U.S. Department of Housing and Urban Development (HUD) published a notice in the Federal Register Oct. 10 announcing the posting of the fourth revision to the Rental Assistance Demonstration (RAD). Public comments on the revision are accepted through Nov. 12. The revision includes changes to the first component (public housing conversions) and the second component (six other HUD programs) under RAD. It also includes guidance that implements the authority to convert Section 202 project rental assistance contract developments through RAD to long-term Section 8 contracts as well as updated guidance on other RAD components. The revision allows RAD properties in opportunity zones (OZs) with new construction or substantial rehabilitation to be eligible for rent increases of up to $100 per apartment.***HUD’s Office of Policy Development and Research published Oct. 22 the Evaluation of HUD’s RAD program. It reports that the 956 RAD conversions studied leveraged $9.66 for every dollar provided through HUD’s public housing program appropriation, which all rehabilitation projects covered their rehabilitation needs, that there is an 87 percent post-conversion decrease in unscheduled capital needs for completed RAD properties and that tenants were pleased with the improvement. The report makes several recommendations, including the ability to raise contract rents and promote more rent bundling, an improvement in long-term oversite by HUD and more programmatic guidance for tenant

Wednesday, December 4, 2019

The National Council of State Housing Agencies (NCSHA) released updated model forms Oct. 4 for low-income housing tax credit (LIHTC) compliance monitoring.

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