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Novogradac Journal of Tax Credits Volume 6 Issue 11

The November 2015 issue of the Novogradac Journal of Tax Credits

Journal cover November 2015

Articles

Michael J. Novogradac

Sunday, November 1, 2015

This is the time of year for forecasting and planning. And despite the uncertainty that surrounds the likely tax extenders package, there are some points to consider now so you can generate the maximum benefit from certain tax provisions widely expected to be extended. For tax credit investments, developers and project sponsors must negotiate with their investors now to ensure that if these expected tax extenders materialize and the investors receive the added benefits that will result, they will contribute additional capital into their investment partnerships.

Peter Lawrence

Sunday, November 1, 2015

Every four years, there are certain issues that get a lot of attention from presidential candidates, especially in the retail politicking states of Iowa, where the nation’s first presidential caucuses are held, and New Hampshire, site of the first presidential primary election. Given that almost two-thirds of the nation’s population owns their own home – even a higher percentage in Iowa (72.2 percent) and New Hampshire (71.4 percent)–many presidential candidates generally perceive such homeowners to be safely housed. And given that renters are generally perceived to be an uncertain voting bloc in much of the country and thus many candidates don’t feel compelled to draft proposals to attract them, housing – homeownership and rental housing–has rarely been featured in presidential candidate stump speeches, policy papers, and campaign platforms, especially early in the campaign.

Jieyi Cui

Sunday, November 1, 2015

Question: Can low-income housing tax credit (LIHTC) property owners offer monetary incentives to U.S. Department of Housing and Urban Development- (HUD-) assisted tenants for them to voluntarily terminate tenancy? ...

Forrest D. Milder

Sunday, November 1, 2015

Of particular importance to the monetization of renewable energy tax credits are projections, sometimes referred to as investment assumptions, the model or the spreadsheet. This set of numbers present the anticipated cash flows and tax consequences associated with the investment. Starting with the projections, parties negotiate the size and timing of the capital contributions and other important features of the transaction. In addition, counsel will often provide a tax opinion that may end with a statement similar to “the investor should get the bulk of the benefits indicated in the projections.”

Brad Stanhope

Sunday, November 1, 2015

A meeting in early January convinced Susan Kluttz that the North Carolina state historic tax credit (HTC) could be brought back. All it took was an eight-month tour by the state’s secretary of the Department of Cultural Resources to more than 50 cities that prompted more than 1,700 newspaper, radio and TV stories and myriad letters from constituents to their legislators. The result: North Carolina’s HTC was reinstated as part of a budget bill in September. ...


News Briefs

Sunday, November 1, 2015

The Congressional Budget Office (CBO) released the report, “Federal Housing Assistance for Low-Income Households.” The report, released Sept. 11, examines the ways in which the federal government provides housing assistance to low-income households ...

Sunday, November 1, 2015

The California Tax Credit Allocation Committee (TCAC) released a memo Sept. 8 regarding low-income housing tax credits (LIHTCs) and ownership transfers. TCAC receives requests from development sponsors to sell or transfer ...

Sunday, November 1, 2015

The Advisory Council on Historic Preservation (ACHP), in partnership with an inter-agency Steering Group (the Department of Homeland Security, the Federal Emergency Management Agency and the Council on Environmental Quality), ...

Sunday, November 1, 2015

The Solar Energy Industries Association (SEIA) released a report Sept. 15 that predicted that substantially more solar generating capacity will be constructed in the United States, and a major industry downturn will be avoided, ...

Sunday, November 1, 2015

California Gov. Jerry Brown vetoed two bills Oct. 10 that would have affected the California state low-income housing tax credit (LIHTC). Assembly Bill 35 was enrolled Sept. 14. The bill would have increased the $70 million annual state ...

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