Novogradac Journal of Tax Credits Volume 12 Issue 12
Abridged version of the December 2021 issue of the Novogradac Journal of Tax Credits. For more content, please subscribe to the Journal.
Articles
Question: How can a historic rehabilitation property qualify as a phased rehabilitation?
Due to limitations in data collection, the Census Bureau announced in October it would not release a one-year American Community Survey (ACS) for 2020.
In the Sept. 9, 2021, Federal Register the U.S. Department of Housing and Urban Development (HUD) designated difficult development areas (DDAs) and qualified census tracts (QCTs) for 2022. Low-income housing tax credit (LIHTC) properties located in these areas are qualified to increase their eligible basis by up to 30% for new construction and rehabilitation costs (known as a boost). This increase allows for a correspondingly larger maximum LIHTC allocation. For this and other reasons, DDAs and QCTs are of great interest to developers.
The opportunity zones (OZ) incentive is hitting its stride with a growing number of qualified opportunity funds (QOFs) and increasingly diverse investments in qualified OZ businesses, according to a panel of OZ experts Oct. 21 at the Novogradac 2021 Fall Opportunity Zones Conference in Cleveland. Moderated by Novogradac partner and conference chair John Sciarretti, CPA, the panel explored OZ fundraising trends, fund structures, investor profiles and other observations.
As President Joe Biden’s Build Back Better plan works its way toward enactment, the likelihood of a significant increase in the supply of federal community development tax credits has stakeholders pondering tax credit equity pricing in 2022 and beyond.
News Briefs
Historic tax credits news briefs for December, 2021, including updates about a Florida state tax credit, an Alabama administrative rule and HTC projects in several other states.
New market tax credits news briefs for December, 2021, including a project update in Alabama and a new NMTC fund.
Renewable energy news briefs for December, 2021, including updates about proposed legislation, and an American Clean Power Association report and personnel update.
HUD news briefs for December, 2021, including updates about an allocation, an interim final rule, a housing assistance form and FHFA purchase caps.
Property compliance news briefs for December, 2021, including updates in Texas, Michigan and South Carolina.
