NMTC 201: NMTC Compliance - June 10, 2015

Wednesday, June 10, 2015 - 9:00am to 4:00pm

« Back to Novogradac 2015 New Markets Tax Credit Spring Conference

Cost with conference registration: $325
Workshop only: $395

Agenda

8-9 a.m.Registration & Continental Breakfast
9-9:15 a.m.Welcome and Introductions
9:15-9:50 a.m.

Overview of Compliance Requirements

  • IRS vs. CDFI Fund requirements
  • Reporting deadlines
  • NMTC Recapture Risks and Allocation Agreement requirements
9:50-10 a.m.Break
10-10:50 a.m.

Qualified Active Low-Income Community Businesses

  • The basic tests: income, property, & services
  • What is nonqualified financial property?
  • Special considerations for real estate businesses
  • Reasonable expectations safe harbor considerations
  • Documenting compliance with Allocation Agreement
10:50-11 a.m.Break
11-11:50 a.m.

Substantially-All Test

  • Overview
  • Direct tracing vs. safe-harbor
  • Practical issues in applying tests
  • QLICI default and foreclosure implications
Noon-1 p.m.Luncheon
1-1:50 p.m.

Cash Distributions

  • How to calculate the operating income safe harbor
  • Corporations: earnings & profits vs. operating income
  • Common pitfalls and ways to mitigate
1:50-2 p.m.Break
2-2:45 p.m.

CIIS Reporting

  • Overview of ILR and TLR
  • Understanding various CIIS datapoints
  • Real estate versus non-real estate – how to properly report in TLR
2:45-3:45 p.m.

CDFI Fund – Annual Update
Transition to 2010 Census Data

  • CIIS 9.0 and upcoming changes
  • Post-compliance period unwind of CDEs
  • CDFI Fund site-visits
3:56-4 p.m.Q&A with CDFI Fund
4 p.m.Workshop Concludes