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Novogradac Private Activity Bond and 4% LIHTC Overview Webinar (June 2021)
This webinar airs from 1:00 p.m. to 3:00 p.m. ET (10:00 a.m. to 12:00 p.m. PT)
This course presents an overview of the major accounting concepts associated with the use of private activity bonds and 4 percent low-income housing tax credits (LIHTCs) to finance affordable multifamily rental housing properties.
- Overview of affordable housing finance and need for debt and equity
- Overview of public (tax-exempt) vs. private (taxable) bonds
- Introduction to Internal Revenue Code Section 142(d) and private-activity tax-exempt bonds
- Players in a bond transaction
- Borrower, issuer, underwriter, purchasers, credit enhancer, lender, trustee, bond counsel
- LIHTC calculation
- Eligible basis, applicable fraction, qualified basis, credit rate, annual credits
- Equity financing with 30% present value (4%) tax credits
- The 4% floor
- Understanding 9% vs. 4% programs
- The 50% test
- Common pitfalls
- Timing issues
- Single vs. multi-building properties
- Multi-year placed-in-service dates
- Good costs/bad costs (95-5 test)
- Related-party considerations (e.g. developer fee)
- Soft debt
- Seller’s notes
- Differences between Section 142(d) bond rules and Section 42 tax credit rules
This course is designed for those who have a basic understanding of affordable housing and low-income housing tax credits (LIHTCs) as well as for those who’ve worked in the industry for a few years and are looking for a refresher or who've worked with 9 percent LIHTC deals but not 4 percent LIHTC/bond deals.
Multiple Registrants: $115/person ($100/person for nonprofits)
For questions or registration assistance, please contact us at 415-356-7960 or email [email protected].
*The standard and nonprofit registration fee for live online webinars and for webinar recordings covers a SINGLE VIEWER ONLY. If multiple persons within an organization wish to view the webinar and/or its recording (regardless of whether they view it on a single computer or multiple computers), the organization must purchase a registration for each person.