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Novogradac Journal of Tax Credits Volume 3 Issue 12

The December 2012 issue of the Novogradac Journal of Tax Credits.

Journal cover December 2012

Articles

Michael J. Novogradac

Saturday, December 1, 2012

In his re-election speech on Nov. 6, President-elect Barack Obama said he was looking forward to reaching out and working with leaders of both parties in the coming weeks and months to meet a number of challenges, including reforming the tax code. As the lame duck session of the 112th Congress focuses on a tax extenders package as part of a much larger effort to avoid falling off the so-called fiscal cliff, one of the underlying themes of discussions is likely to be tax reform.

Forrest D. Milder

Saturday, December 1, 2012

As the tax finance pendulum swings from grants to tax credits, it seems a good idea to review the tax issues that can apply to setting up a fund intended to take advantage of energy credits. There’s also been a lot of interest in new markets tax credits (NMTCs) as well, so I’ll address some of relevant NMTC issues.

Thomas Stagg

Saturday, December 1, 2012

More than 900 communities are in danger of losing their rural designation if Congress does not pass legislation to extend a “grandfathering” clause that allows previously qualified areas to retain their rural status. The loss of a rural designation would affect future development of low-income housing tax credit (LIHTC) properties and could affect access to loans and other sources of funding for new and existing properties.

Corey Carlisle

Saturday, December 1, 2012

The growth and influence of high-quality public charter schools has profoundly reformed the American education system since Minnesota enacted the first charter school law in 1991. This has been particularly true for low-income families and minorities, who are disproportionately served by public charter schools and often lack educational options available to other groups. According to an Oct. 24 article in the San Francisco Chronicle, in California alone, nearly one in 10 students is enrolled in a charter school.


News Briefs

Saturday, December 1, 2012

Novogradac & Company opened a new office in St. Louis, Mo. on Nov. 1.

Saturday, December 1, 2012

On Oct. 22, the U.S. 3rd Circuit Court of Appeals denied Historic Boardwalk Hall LLC’s (HBH’s) petition for a rehearing or rehearing en banc of its Aug. 27 panel opinion.

Saturday, December 1, 2012

The Community Development Commission (CDC) of the County of Los Angeles announced the official dedication of the $77 million YWCA Job Corps Urban Campus, which was completed in downtown Los Angeles’ South Park community in April.

Saturday, December 1, 2012

In response to Hurricane Sandy, the Housing Assistance Council last month released an updated guide for disaster situations.

Saturday, December 1, 2012

In late October, U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan issued announcements of foreclosure protection and other disaster aid for Hurricane Sandy victims in New York, New Jersey and Connecticut.

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