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News
The U.S. Department of Treasury and the U.S. Department of Housing and Urban Development (HUD) today announced the allocation of an additional $21.6 billion in emergency rental assistance (ERA) allocation. The allocations are made under the American Rescue Plan for Emergency Rental Assistance.
The Georgia Legislature sent a bill to Gov. Brian Kemp’s desk that would extend the state historic tax credit (HTC) by one year and provide a statewide cap for smaller projects. S.B. 6 addresses several tax provisions, including an extension of the state HTC sunset date to Dec. 31, 2022. The legislation would also establish a $5 million statewide cap for all projects earning $300,000 or less. Currently, there is no statewide cap on those credits.
A federal judge ruled today that the Centers for Disease Control and Prevention lacked statutory authority to issue a nationwide eviction moratorium. In his ruling in Alabama Association of Realtors vs. United States Department of Health and Human Services, U.S. District Court Judge Dabney Freidrich wrote, “The question for the Court is a narrow one: Does the Public Health Service Act grant the CDC the legal authority to impose a nationwide eviction moratorium? It does not.” The current eviction moratorium is set to run through June 30. There was no immediate word on whether the CDC would appeal the ruling.
The Office of the Comptroller of the Currency (OCC) Tuesday released Community Reinvestment Act performance evaluations made public in April. Of the 15 national banks, federal savings associations and insured federal branches of foreign banks, 12 were rated satisfactory and three were rated outstanding.
Legislation in Hawaii that would extend the sunset date of the state low-income housing tax credit (LIHTC) to 2027 and clarify how partners can claim the LIHTC is on the desk of Gov. David Ige. H.B. 80 would extend the sunset date of the state LIHTC to Dec. 31, 2027, and clarify when and how taxpayer partners may claim the LIHTC on state taxes, regardless of whether the partner is deemed to be a partner for federal income tax purposes.
The Montana Senate narrowly passed legislation creating a state low-income housing tax credit (LIHTC) and the bill is now headed to the desk of Gov. Greg Gianforte. H.B. 397, which would create a Montana workforce housing credit that could be paired with federal LIHTCs for tax years beginning on or after Jan. 1, 2022. The statewide cap would be 50% of the federal cap for any year and would sunset at the end of 2026.
Ohio’s two U.S. senators introduced legislation to make linear generators eligible for the federal renewable energy investment tax credit. Sens. Sherrod Brown, D-Ohio, and Rob Portman, R-Ohio, introduced the Clean Energy Production Parity Act (S. 1485). Linear generation is a form of onsite power generation that can produce fuel from a variety of sources that include fossil fuels, natural gas, biomass, solar or wind. Linear generation does not meet the existing definition for qualified fuel cell property.
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