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News

Monday, December 10, 2018

The U.S. Department of Housing and Urban Development (HUD) will publish an amendment to a final notice in Tuesday’s Federal Register clarifying that there are no prevailing wage requirements in the second component of Rental Assistance Demonstration (RAD) program transactions. The second component included HUD’s legacy programs: Rent Supplement, Rental Assistance Payment, Section 8 Moderate Rehabilitation and Moderate Rehab Single-Room Occupancy.

Monday, December 10, 2018

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.

Friday, December 7, 2018

The West Virginia Tax Department amended, effective Dec. 31, certain regulations for its state historic tax credit (HTC). The amendments include changes to regulations concerning the distribution of the credit for ownership groups, the transfer of the credit, the results of being in arrears in payment of other taxes and more.

Tuesday, December 4, 2018

The National Trust for Historic Preservation published a report, “State Historic Tax Credits: Maximizing Preservation, Community Revitalization, and Economic Impact,” to serve as a guide for state and local policy makers to understand the benefits of historic rehabilitation and key factors to structure an effective state historic tax credit (HTC) program.

Tuesday, December 4, 2018

The Office of the Comptroller of the Currency today released a list of 28 Community Reinvestment Act (CRA) performance evaluations that became public in November. Twenty-five were rated satisfactory and three were outstanding. The list contains only national banks, federal savings associations and insured federal branches of foreign banks that have received ratings.

Friday, November 30, 2018

The Novogradac Opportunity Zones Working Group this week submitted to the Internal Revenue Service (IRS) a priority request for further opportunity zones (OZ) guidance. The letter said that taxpayer uncertainty around issues unaddressed by proposed guidance released Oct. 19 hinders investment in OZs.

Thursday, November 29, 2018

The Office of the Comptroller of the Currency (OCC) today released the Community Reinvestment Act (CRA) evaluation schedule for the first and second quarters of 2019. The OCC invites public comment on national banks and federal savings associations scheduled for CRA evaluation. The OCC said it would consider all public comments received until the close of the CRA evaluation.

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.