Novogradac Journal of Tax Credits Volume 11 Issue 12

A former textile mill in Greenville, S.C., is being transformed into an 800,000-square-foot multiuse campus in a multiphase development financed with new markets tax credit (NMTC) and historic tax credit (HTC) equity.

The November issue of the Novogradac Journal of Tax Credits reviewed the tax liability and at-risk limits for individuals related to solar investments. This month, we will review the passive activity limits applicable to individuals investing in solar projects.

With the COVID-19 pandemic and economic recession disproportionately affecting people of color–along with instances of violence against Black people gaining national attention–there is a renewed focus on racism in America and how systemic racial inequalities need to be addressed.

The Novogradac Opportunity Zones (OZ) Working Group was founded to identify and address technical and administrative issues that arise under the federal OZ incentive. The past year was a busy one and 2021 is expected to be more of the same.

After a cliffhanger presidential election that saw Democratic candidate Joe Biden beat incumbent Republican Donald Trump and Democrats retain control of the House of Representatives, the balance of power in the U.S. Senate hinges on two Jan. 5, 2021, runoff races in Georgia.

The Advisory Council on Historic Preservation (ACHP) issued a program comment in the Oct. 13 Federal Register for the U.S. Army to set forth how the Army complies with Section 106 of the National Historic Preservation Act for its inventory of inter-war era historic housing management actions.

The Community Development Financial Institutions (CDFI) Fund released updated documents Oct. 23 related to the calendar year 2020 new markets tax credit (NMTC) application, as well as an updated list of frequently asked questions.

Rep. Salud Carbajal, D-Calif., introduced legislation Oct. 6 to create and expand renewable energy tax credits.

The U.S. Department of Housing and Urban Development (HUD) published a proposed rule in the Oct. 9 Federal Register to modify requirements and simplify and clarify existing regulatory language.

The Louisiana Department of Economic Development was authorized as of Oct. 28 to provide an extension for certain job creation requirements for enterprise zone incentives and quality jobs incentive rebates due to the impacts of COVID-19, Hurricane Laura and Hurricane Delta.