Novogradac Journal of Tax Credits Volume 13 Issue 10
Abridged version of the October 2022 issue of the Novogradac Journal of Tax Credits. For more content, please subscribe to the Journal.
Articles
Question: How does the new lease standard under ASC 842 impact financial reporting for lease passthrough structures?
When speaking with leaders of community development entities (CDEs) that allocate the new markets tax credit (NMTC) about how they measure the success of their endeavors, the short answer is a complicated one: It depends.
The investor market for new markets tax credits (NMTCs) is solid, but supply is still ahead of demand and properties financed with NMTC equity are struggling with the effects of the COVID-19 pandemic and inflation.
Anyone affiliated with a multifamily housing property that is part of a new markets tax credit (NMTC) transaction–perhaps as property manager, owner or even the allocatee of qualified low-income community investment funds (QLICIs)–is likely aware of a requirement that 20% of the units must be occupied by rent- and income-restricted households. But what exactly does this mean? In this article, we will cover the basics of this affordable unit requirement.
Supporters of renewable and clean energy tax incentives celebrated major a legislative achievement when President Joe Biden signed the Inflation Reduction Act into law: The reconciliation legislation significantly increases renewable and clean energy resources, including extensions of the investment tax credit (ITC) and production tax credit (PTC), making standalone energy storage eligible for the ITC, and enacting direct pay and tax credit transferability options.
News Briefs
Historic tax credit news briefs for October 2022, with updates from Iowa, Pennsylvania and Indiana.
New markets tax credit news briefs for October 2022, including updates from the Financial Accounting Standards Board, a Senate committe, the Office of the Comptroller of the Currency and more.
Renewable energy tax credit news briefs for October 2022, including a federal appointment and a Texas project update.
Department of Housing and Urban Development news briefs for October 2022, with topics including fair market rents, RAD transactions, renovations and new permanent supportive housing.
Property compliance news briefs for October 2022 including updates from Oklahoma and Ohio.
