Sign Up For Novogradac Industry Alert Emails

Novogradac Journal of Tax Credits Volume 6 Issue 7

The July 2015 issue of the Novogradac Journal of Tax Credits

Journal cover July 2015

Articles

Michael J. Novogradac

Wednesday, July 1, 2015

On June 15, the last currently authorized round new markets tax credit (NMTC) authority allocations were announced. Seventy-six community development entities (CDEs) were awarded $3.5 billion in NMTC allocation authority to spur investment in low-income communities around the country.

David Grubman

Wednesday, July 1, 2015

The National Coalition for the Homeless identifies housing cost as a primary driver of homelessness in the United States. The coalition’s website states: “Housing represents the fundamental base-solution to the problem of homelessness, with the lack of affordable housing and the limited scale of housing assistance programs contributing to the current housing crisis and to homelessness. The lack of affordable housing has led to high rent burdens, overcrowding and substandard housing, which has not only forced many people to become homeless but has also put a growing number of people at risk of becoming homeless.” ...

Michael J. Novogradac

Wednesday, July 1, 2015

A single low-income housing tax credit (LIHTC) allocation will often be awarded to a development that consists of more than one physical building. Each building will receive its own Internal Revenue Service (IRS) Form 8609. Unless otherwise elected on IRS Form 8609 by the taxpayer, each building in an LIHTC development will be treated as its own development/entity. ...

Teresa Garcia

Wednesday, July 1, 2015

The New Markets Tax Credit (NMTC) program officially has a dozen funding rounds under its belt. On June 15, the Community Development Financial Institutions (CDFI) Fund announced the 76 community development entities (CDEs) selected to receive $3.5 billion in NMTC allocation authority under the calendar year 2014 round of the program. ...


News Briefs

Wednesday, July 1, 2015

On May 21, Sens. Al Franken, D-Minn., and Rob Portman, R-Ohio, introduced the Housing for Homeless Students Act of 2015 (S. 1412). The bipartisan bill would expand the eligibility criteria of the low-income housing tax credit ...

Wednesday, July 1, 2015

The National Affordable Housing Management Association (NAHMA) announced May 29 its 2015 Affordable 100, a list of the 100 largest affordable multifamily property management companies ranked by affordable unit counts. ...

Wednesday, July 1, 2015

The Office of the Comptroller of the Currency (OCC) released an updated edition of its 2008 Community Developments Insights report, “Historic Tax Credits: Bringing New Life to Older Communities.” ...

Wednesday, July 1, 2015

On May 26, Washington Gov. Jay Inslee and Iowa Gov. Terry Branstad, chairman and vice chairman of the Governors’ Wind Energy Coalition, sent a letter to House and Senate leadership advocating for the approval of a multiyear extension for the production tax credit (PTC) ....

Wednesday, July 1, 2015

On May 12, Georgia Gov. Nathan Deal signed H.B. 308 (Act 211) into law. The bill amends Title 48, Chapter 7, Article 2 of the Official Code of Georgia Annotated and revises the tax credit for rehabilitation of historic structures. ...

Learn more about Novogradac's expertise and many services