Federal / Agency News

The Advisory Council on Historic Preservation (ACHP) will meet Thursday, November 15, 2012. The meeting will be held in the Room SR325 at the Russell Senate Office Building at Constitution and Delaware Avenues NE., Washington, DC at 8:30 a.m. The ACHP was established by the National Historic Preservation Act of 1966 (16 U.S.C. 470 et seq.) to advise the President and Congress on national historic preservation policy and to comment upon federal, federally assisted, and federally licensed undertakings having an effect upon properties listed in or eligible for inclusion in the National Register of Historic Places.

The Advisory Council on Historic Preservation (ACHP) will meet Thursday, November 15, 2012. The meeting will be held in the Room SR325 at the Russell Senate Office Building at Constitution and Delaware Avenues NE., Washington, DC at 8:30 a.m.

A recent Administrative Notice released by the U.S. Department of Agriculture (USDA) Rural Development, Notice 4679, announces that the transition to using data from the 2010 decennial Census and American Community Survey (ACS) will be delayed until March 27, 2013, when the recently passed continuing resolution expires.

The Internal Revenue Service (IRS) recently released final regulations, RIN 1545-BK04, modifying the reinvestment requirements of the New Markets Tax Credit (NMTC) program to encourage investments in non-real estate businesses for working capital and equipment.

In a recent letter, twelve Freshman House Republicans urged House Leadership to extend the New Markets Tax Credit (NMTC) program. While these GOP Representatives note that they do not support extending all tax credits, they do contend that the NMTC is a critical source of financing for a wide variety of businesses and community facilities that provides much-needed support for vulnerable low-income communities during an especially difficult time.

Both the U.S. House of Representatives and Senate have passed S. 3245, which extends the EB”“5 Regional Center program for three years. EB-5 Regional Centers identify businesses and development opportunities that meet a community’s investment needs and allow foreign investors to channel funds to those opportunities.

NCHMA is pleased to present the conference materials including Power Point presentations relevant articles, reports, memos, etc. from our recent Annual Meeting held in Chicago, IL September 6-7 at the Conrad Hotel.

Earlier this month Representative Bob Filner (D-Calif.) introduce the Clean Energy Victory Bond Act of 2012 (HR 6275). This legislation addresses a number of renewable energy programs and initiatives. Highlights of interest to NH&RA members include and extension of various expiring energy investment credits through 2023.

NH&RA is pleased to offer the Power Point presentations, relevant articles, reports, memos, etc. from our recent 2012 Summer Institute and New Markets Tax Credit Symposium, which was held July 25-28, 2012 at the Harbor View Hotel on Martha’s Vineyard in Massachusetts.

The Internal Revenue Service (IRS) recently released private letter rulings (PLRs) concerning historic tax credit (HTC) regulations. In PLR 201228015 and PLR 201228016, the IRS found that separate buildings rehabilitated under a common plan can be considered one project for HTC purposes. In another recently released PLR, PLR 2012228019, the IRS granted an extension to the amount of time the taxpayer has to make the election in which the tenant is treated as having purchased the property.

Congress recently reauthorized federal surface transportation programs in the Moving Ahead for Progress in the 21st Century (MAP-21) legislation (H.R.4348). In addition to other transportation-related funding, the now Public Law (PL) No: 112-141 also includes funding for a new transit-oriented development (TOD) pilot program to provide grant funding for TOD-related activities.

U.S. Representative Earl Blumenauer (D-OR) recently introduced the Wind Powering American Jobs Act (HR 6031) which would extend the production tax credit for wind energy through 2013. The bill would also extend the option for wind project developers to choose a 30 percent investment tax credit until 2014.