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Novogradac Journal of Tax Credits Volume 5 Issue 12

The December 2014 issue of the Novogradac Journal of Tax Credits

Journal cover December 2014

Articles

Michael J. Novogradac

Monday, December 1, 2014

When Republicans gained control of the Senate in last month’s midterm elections, the balance of power shifted in a number of ways. This change raised many questions for the affordable housing, community development, historic preservation and renewable energy communities. For example, what do the results of specific races mean for the future of the low-income housing tax credit (LIHTC), new markets tax credit (NMTC), historic tax credit (HTC) and renewable energy production tax credit (PTC) and investment tax credit (ITC)? Or, will the election results change the chances of a tax extenders package being passed before Dec. 31? And, what does this all mean for the future of tax reform?

Peter Lawrence

Monday, December 1, 2014

As noted in the Washington Wire, the 2014 midterm election swept Republicans into power in the Senate for the first time in eight years, giving them control over all of Congress in January. We can expect that President Barack Obama’s final two years in office and the actions his administration takes during that time will be under great scrutiny by a Republican Congress...

James R. Kroger

Monday, December 1, 2014

In October, the U.S. Department of Housing and Urban Development (HUD) released the 2015 metropolitan and non metropolitan difficult development area (DDA) designations. HUD added nine metropolitan areas, but dropped 19 areas for 2015. The list also added 114 nonmetropolitan areas, but dropped 88 DDAs for 2015...

Scott Michael Dunn

Monday, December 1, 2014

On July 23, 2013, the U.S. Department of Housing and Urban Development (HUD) published a revision to the regulations governing the HOME Investment Partnerships Program. Some adjustments simply codified existing HOME policy and procedures; other provisions represent substantial changes...


News Briefs

Monday, December 1, 2014

The Internal Revenue Service (IRS) released Revenue Procedure 2014-61 (Rev Proc 2014-61) Oct. 30. Rev Proc 2014-61 lists the annual inflation adjustments for low-income housing tax credits (LIHTCs) and private activity bond caps for fiscal year (FY) 2015...

Monday, December 1, 2014

On Oct. 16, First Niagara, a federal deposit insurance corporation, announced $20.8 million in combined financing and historic tax credit (HTC) equity investments for Bethune Lofts at The Buffalo Meter Co. in North Buffalo, N.Y. First Niagara provided a $14.5 million construction loan and a $6.3 million HTC equity investment...

Monday, December 1, 2014

The Iowa Department of Revenue’s amendments to Reg. 701–52.44 became effective Nov. 19. The amendments reflect legislative changes to the renewable energy tax credit (RETC) for solar systems installed from Jan. 1, 2014, to Jan. 1, 2017...

Monday, December 1, 2014

On Oct. 15, the United States Department of Housing and Urban Development (HUD) announced $38.3 million in grants for more than 100 fair housing organizations and other nonprofit agencies...

Monday, December 1, 2014

Pennsylvania Gov. Tom Corbett announced Sept. 29 the completion of an $8 million new markets tax credit (NMTC) transaction to help fund construction of Susquehanna Health Innovation Center, an outpatient services center in Williamsport, Pa....

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