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Novogradac Journal of Tax Credits Volume 2 Issue 1

The January 2011 issue of the Novogradac Journal of Tax Credits.

Journal cover January 2011

Articles

Michael J. Novogradac

Saturday, January 1, 2011

Regular readers of this column are likely aware of the attention being paid in recent months to tax expenditures, tax reform and related topics. The tax extenders legislation that nine months ago was considered by many to be guaranteed to pass, instead stalled for months until it barely squeaked by, finally passing on January 16 during the lame duck session of Congress. Meanwhile, a string of proposals were released by groups such as the President's Economic Recovery Advisory Board and the National Commission on Fiscal Responsibility and Reform that suggested scaling back or eliminating tax credits as part of a fundamental reform the tax code.

John Leith-Tetrault

Saturday, January 1, 2011

When the fifth anniversary of Hurricane Katrina was observed this past August, media coverage focused as it always does on New Orleans, pointing to both the positive recovery work that has been done and the difficult challenges that still remain.  As one veteran preservationist who rode out the storm in her Lower Garden District home said, “The rebirth of New Orleans is going to be a marathon, not a sprint.”

Jennifer Dockery

Saturday, January 1, 2011

A project that began as an academic exercise has, through sweat and stimulus funding, become the model for the largest solar array to date in Virginia. Developed by Staunton, Va.-based Secure Futures LLC (SFLLC), a soon-to-be-400 kilowatt (kW) solar project will provide energy to Eastern Mennonite University (EMU), a private university in Virginia’s Shenandoah Valley. In November, EMU and SFLLC completed construction on a 104-kW array on the roof of the university’s Sadie Hartzler Library, the first of two arrays that SFLLC will develop on the campus.

Amanda Talbot

Saturday, January 1, 2011

In light of the current economy, property managers of low-income housing tax credit (LIHTC) properties may have questions about households that recently have become eligible under the program’s requirements due to recent changes in income.

Tony Grappone, Novogradac & Company LLP RETC Working Group

Saturday, January 1, 2011

Question: Are costs incurred in years prior to 2009 includable in eligible basis for a Section 1603 grant in lieu of energy tax credits?


News Briefs

Saturday, January 1, 2011

Harvard University's Joint Center for Housing Studies published a policy brief that discusses issues facing the low-income housing tax credit (LIHTC) program beyond the immediate problems the recession created.

Saturday, January 1, 2011

The Department of the Treasury's Low-Income Housing Credit (LIHC) Compliance Unit relocated from Bensalem, Pa. to a new office in downtown Philadelphia.

Saturday, January 1, 2011

Rep. Keith Ellison, D-MN, introduced H.R. 6468, the Rental Housing Revitalization Act, designed to revitalize public housing structures in need of capital for repairs.

Saturday, January 1, 2011

The Virginia Department of Environmental Quality (DEQ) approved the state's first permit regulation for renewable energy projects.

Saturday, January 1, 2011

Not-for-profit National Dance Institute (NDI) established a new headquarters and the Center for Learning and the Arts at PS90, an L+M Development Partners' residential development in Harlem New York, N.Y.

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