The Treasury Department on Thursday released the 2018-2019 Priority Guidance Plan, which includes plans to provide guidance for the low-income housing tax credit (LIHTC), new markets tax credit (NMTC) and historic tax credit (HTC). The Priority Guidance Plan covers the period from July 1, 2018, through June 30, 2019.
Results from Tuesday’s elections–with Democrats taking control of the House of Representatives and Republicans maintaining control of the Senate–and their effect on the affordable housing, community development and renewable energy communities are the subject of a Notes from Novogradac blog post and a
The Minnesota Department of Revenue issued guidance that the state historic tax credit (HTC) is fully claimed in the year the qualifying renovated building is placed in service. The federal HTC is now taken at 4 percent per year for five years, but the Minnesota credit, equal to the federal credit, is taken in one year.
Legislators in New Jersey combined two bills that would create a state historic tax credit (HTC) to reimburse taxpayers for 25 percent of their renovations over a 10-year period. The legislation was unanimously reported out of the Wagering, Tourism and Historic Preservation Committee. There would be a $25,000 project cap for homeowners and no cap for the business HTC, although there would be annual program caps of $15 million in 2019, $25 million in 2020, $40 million in 2021 and $50 million annually beginning in 2022.
In a Notes from Novogradac blog post, Michael J. Novogradac, discusses how the opportunity zones guidance issued today by Treasury provides answers to many questions and includes information that will help guide investors, fund managers and others.
November 9, 2018 9:27am
November 9, 2018 9:25am
November 9, 2018 9:22am
November 7, 2018 3:10pm
October 30, 2018 8:40am