Novogradac & Company LLP provides online resource centers that present the most comprehensive and up-to-date information for the affordable housing and community development industries.

News

Monday, July 6, 2020

The Delaware state historic tax credit will be funded an additional year–through 2026–after state budget legislation was signed into law last week. S.B. 242 funds the state HTC at $8 million annually from 2021-2026. The HTC was previously funded at that amount for 2020-2025.

Monday, July 6, 2020

The Office of the Comptroller of the Currency released a list of 21 Community Reinvestment Act (CRA) performance evaluations made in June, with 11 rated satisfactory, nine outstanding and one as needs to improve. The list includes national banks, federal savings associations and insured federal branches of foreign banks.

 

Thursday, July 2, 2020

Seven U.S. Senators authored a letter to Treasury Secretary Steven Mnuchin, asking Treasury to extend the continuity safe harbor provision further for offshore wind. The letter thanks Mnuchin for earlier guidance, but asks for an additional three years beyond the standard four-year safe harbor for offshore wind projects that began construction between 2016 and 2020.

Wednesday, July 1, 2020

The New Markets Tax Credit Coalition today released the 2020 New Markets Tax Credit (NMTC) Progress Report, a survey of 65 community development entities (CDEs). The CDEs reported using $2.7 billion in NMTC allocation in 2019 to finance 288 investments that amounted to $4.5 billion in project investment to low-income communities and 1.7 million people served. The financing resulted in 57,414 jobs, 35,440 of them permanent.

Wednesday, July 1, 2020

The House of Representatives today approved a sweeping infrastructure bill, voting to send the $1.5 trillion legislation to the Senate. The Moving Forward Act (H.R.

Wednesday, July 1, 2020

The Internal Revenue Service today released an advance copy of proposed regulations concerning low-income housing tax credit (LIHTC) compliance issues, returning to a previous standard of required inspection of the lesser of the applicable Real Estate Assessment Center (REAC) number of 20 percent of the low-income units in the development.

Tuesday, June 30, 2020

California Gov. Gavin Newsom today signed a state budget bill that includes an extra $500 million in funding for state low-income housing tax credits (LIHTCs) and exempts the LIHTC from the state’s $5 million annual cap in claiming business tax credits. California’s previous budget bill approved the extra $500 million in annual LIHTCs, subject to the state Legislature appropriating the funds.

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.