Novogradac Private Activity Bond and 4 Percent LIHTC Overview Webinar - May 2020

Friday, May 1, 2020 - 10:00am to 12:00pm
May 1, 2020 - 10:00am to 12:00pm

This webinar airs from 1 to 3 p.m. ET (10 a.m. to Noon 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.

Praise From Past Attendees


Charlie Rhuda, CPA

Matt Lockhart, CPA

Wayne Michael, CPA, NPCC, HCCP
Senior Director of Education

Topics Covered

  • 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
    • Locking credit rate
  • Equity financing with 30 percent present value (4 percent) tax credits
  • Understanding 9 percent vs. 4 percent programs
  • The 50 percent 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
  • Q&A

Target Audience

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.

CPE Information
Terms and Conditions
Receiving Login Info and Handouts

Registration Rates

Standard: $125
Nonprofit: $110
Multiple Registrations: $110/person ($95/person for nonprofits)

*The standard and nonprofit registration fee for live 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.