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Novogradac Journal of Tax Credits Volume 12 Issue 1
Abridged version of the January 2021 issue of the Novogradac Journal of Tax Credits. For more content, please subscribe to the Journal.
Question: What are ways a nonprofit entity can successfully engage in historic preservation?
The low-income housing tax credit (LIHTC) has been critical to public housing authorities (PHAs) to address preservation, development and redevelopment goals.
President Donald Trump signed legislation Dec. 27 to extend the national rental eviction moratorium ordered by the Centers for Disease Control and Prevention (CDC) to Jan. 31, 2021. Whether the new eviction moratorium gets extended again or is allowed to lapse, there are significant issues of which low-income housing owners need to be aware.
The COVID-19 pandemic disrupted what was considered normal, but for some public housing authorities (PHAs), the pandemic was a reminder to stick to their intentions. Throughout the pandemic, PHAs stayed focused on creating affordable housing and keeping residents housed. The pandemic also emphasized the importance of relationships with other agencies in the local community and agencies across the state.
A president can implement policy without legislation.
President-elect Joe Biden Nov. 30. 2020, formally nominated Janet Yellen to be his Secretary of the Treasury. Yellen, the chairwoman of the Federal Reserve from 2014-2018, would be the 78th Treasury Secretary and first woman to hold the position if confirmed by the U.S. Senate.
A bipartisan bill introduced Nov. 12, 2020, in the House of Representatives would make the renewable energy investment tax credit (ITC) temporarily refundable for projects that break ground by the end of 2021 and would extend the ITC phasedown by one year.
The Texas historic preservation tax credit (HTC) has created more that $2.6 billion in investment in historic buildings since 2015, according to a report from the Texas Historical Commission released.
The U.S. Department of Housing and Urban Development (HUD) published a notification in the Nov. 12, 2020, Federal Register to establish and expedited process for the review of requests for relief from HUD Section 8 and public housing requirements.