Recent News
Rep. Kevin Brady, R-Texas, chairman of the House Ways and Means Committee, today introduced a retooled year-end tax relief package that continues to include a provision to clarify that veterans are a specified group for purposes of the low-income housing tax credit. The legislation also includes disaster tax relief and several minor, time-sensitive technical corrections to the tax reform legislation passed last year.
The Internal Revenue Service today issued Revenue Procedure 2018-59, which provides a safe harbor for taxpayers to treat certain infrastructure trades or businesses as real property trades or businesses solely to qualify under Internal Revenue Code Section 163(j)(7)(B). That election makes the expense not subject to the limitation on business interest expense in the 2017 tax reform legislation.
The Federal Housing Finance Agency will publish in the Federal Register Wednesday its final rule to amend regulations for the Federal Home Loan Banks’ Affordable Housing Program (AHP).
The Community Development Financial Institutions (CDFI) Fund today announced that 116 organizations submitted eligible applications requesting more than $570 million in funding under the fiscal year (FY) 2018 Capital Magnet Fund round, compared to the $143 million in awards available. Fifty-seven percent of applicants are certified CDFIs and the remaining 43 percent are nonprofit affordable housing organizations. The awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities.
House Ways and Means Committee Chairman Kevin Brady, R-Texas, yesterday released a year-end tax and oversight package that clarifies the general public use requirement for tax-exempt bond-financed low-income housing tax credit properties, especially for veterans. The package also includes tax extenders, including one-year extensions until Dec.
Recent Updates
December 12, 2018 11:47am
