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News

Friday, November 8, 2019

The New Markets Tax Credit (NMTC) Coalition is circulating a sign-on letter to leaders in Congress seeking the extension of the NMTC. Organizations can sign on to the letter, which calls for a permanent extension and expansion of the NMTC along the lines of the New Markets Tax Credit Extension Act.

Friday, November 8, 2019

Democratic presidential candidate Pete Buttigieg today released a plan that includes spending $430 billion on affordable housing measures. Buttigieg’s plan includes more investment in low-income housing tax credits, as well more investment in the Housing Trust Fund, Capital Magnet Fund, and the U.S. Department of Housing and Urban Development’s HOME funds and Community Development Block Grants.

Friday, November 8, 2019

Rep. Rashida Tlaib, D-Mich., this week sent a letter to the chairman of the House Ways and Means Committee and chairs of the subcommittees of the House Committee on Financial Services and House Committee on Oversight and Reform, to request an investigative hearing on whether political contributions influenced the designation of opportunity zones (OZs).

Thursday, November 7, 2019

Forty members of the House of Representatives sent a letter this week to House Speaker Nancy Pelosi, D-Calif., and Ways and Means Committee Chairman Richard Neal, D-N.Y., asking them to find a “path forward” for expired clean energy tax incentives. The letter specified the biodiesel, alternative fuel vehicle refueling property and second-generation biofuel producer tax credits.

Thursday, November 7, 2019

The Internal Revenue Service today issued the inflation-adjusted amounts for states’ low-income housing tax credit (LIHTC) and private activity bonds (PAB) for 2020. Revenue Procedure 2019-44 sets the state ceiling for the LIHTC at the greater of $2.8125 multiplied by the state population or $3,217,500. The per-capita number is an increase of 2 percent over 2019 and the state minimum is an increase of $50,625.

Wednesday, November 6, 2019

Reps. Ron Kind, D-Wis., Mike Kelly, R-Pa., and Terri Sewell, D-Ala., today introduced legislation to establish a reporting framework, disclosure requirements and a penalty structure for qualified opportunity funds (QOFs).

Wednesday, November 6, 2019

A U.S. District Court ruled this week that a company’s previous historic tax credit (HTC) investments and dealings with the Internal Revenue Service (IRS) concerning those investments are not relevant to a current breach-of-contract lawsuit. The U.S. District Court for the Middle District of Louisiana concluded in Chevron TCI Inc. v.

Industry-Leading LIHTC Guide
The Low-Income Housing Tax Credit Handbook is the authoritative guide for affordable rental housing owners, developers, managers and investors, and the professionals who counsel them.
Comprehensive NMTC Insights and Information
From application and financing to development and compliance, the Novogradac New Markets Tax Credit Handbook is your definitive guide to the new markets tax credit (NMTC).
Essential Historic Rehabilitation Resource
The Novogradac Historic Rehabilitation Handbook contains the most current guidance on rehabilitating historic properties with the historic tax credit.