Recent News

Thursday, June 14, 2018

Legislation to eliminate the existing basis adjustment requirement for historic tax credit (HTC) properties was introduced yesterday by Sens. Bill Cassidy, R-La., Ben Cardin, D-Md., Susan Collins, R-Maine, and Reps. Darin LaHood, R-Ill., and Earl Blumenauer, D-Ore. A press release from Sen.

Wednesday, June 13, 2018

Several Massachusetts tax credit programs, including the low-income housing tax credit (LIHTC) and the historic tax credit (HTC), were expanded and extended effective May 31. H 4536 extended the state LIHTC through 2025 with $5 million per year added for properties that improve existing state or federally assisted housing, along with a five-year housing bond issue.

Friday, June 1, 2018

The Colorado state historic tax credit (HTC) was extended through 2029 and the amount of the credit was increased for structures in disaster areas or rural communities after the Job Creation and Main Street Revitalization Act became effective Wednesday.

Monday, May 21, 2018

Missouri enacted S.B. 590 Friday to reduce the annual state historic tax credit (HTC) program cap from $140 million to $90 million, with the possibility of an additional $30 million in tax credits for developments in qualified census tracts. The bill is effective Aug. 28.

Friday, April 27, 2018

The Internal Revenue Service (IRS) and Treasury Department today published Notice 2018-43 to invite public recommendations on what should be included in the 2018-2019 priority guidance plan. The 2018-2019 priority guidance plan will identify which guidance projects that Treasury and the IRS will prioritize from July 1, 2018, to June 30, 2019. The deadline to submit recommendations for possible inclusion in the original 2018-2019 priority guidance plan is June 15.

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