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Novogradac Journal of Tax Credits Volume 2 Issue 8

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

Journal cover August 2011

Articles

Michael J. Novogradac

Monday, August 1, 2011

As the economy slowly recovers, and with it the tax credit investment market, it is important to be aware of forthcoming regulatory changes that will affect banks and other financial institutions, that are some of the largest tax credit investors. In their own ways each of these changes have the potential to impact banks’ investment decisions in all tax credits, including low-income housing tax credits, new markets tax credits, historic tax credits and renewable energy tax credits.

Lisa Pekkala and Tom Stephens

Monday, August 1, 2011

This article is the second in a series of articles discussing the removal of a general partner (GP) and other associated issues. Last month’s article discussed the various grounds for a GP removal and recommendations for drafting partnership agreements that clearly delineate the partners’ respective expectations with respect to the triggers and consequences of removal.

Amanda Talbot

Monday, August 1, 2011

The lack of specific federal guidance for low-income housing tax credit (LIHTC) properties on how to annualize employment income can cause significant differences in income calculations from one file to the next. Property management companies across the country have adopted policies and procedures that attempt to create some consistency between calculations included in each file, but there will never be a set formula that can be used in every situation, and guidance often varies between state agencies. 

Owen P. Gray, CPA

Monday, August 1, 2011

Question: How long is the new markets tax credit (NMTC) compliance period?

Forrest D. Milder

Monday, August 1, 2011

I’ve been referring for quite a while to the Treasury’s handling of applications for Section 1603 cash grants in lieu of renewable energy tax credit as occurring “behind a curtain.” And while we so-called “experts” were able to give pretty good “guesstimates” about how Treasury evaluated Section 1603 applications, we certainly had to acknowledge that we were limited to just that − guessing and estimates.


News Briefs

Monday, August 1, 2011

RBC announced the $3.62 billion sale of its United States regional retail banking operations to PNC Financial Services Group.

Monday, August 1, 2011

The Ohio Housing Finance Agency (OHFA) issued a memo last month in response to inquiries regarding upcoming deadlines for the agency's experience and capacity review.

Monday, August 1, 2011

President Barack Obama appointed Carol Galante to serve as acting commissioner of the Federal Housing Administration (FHA).

Monday, August 1, 2011

Connecticut expanded its historic preservation tax credit (HTC) program to include nonresidential use and a broader range of property types.

Monday, August 1, 2011

The Office of the Comptroller of the Currency (OCC) has published a Community Development Investments newsletter that provides an in-depth look at bank financing for charter schools.

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