Federal / Agency News
GOP Budget Proposal Puts NMTC on Chopping Block
The proposed GOP FY-2012 budget resolution released last week proposes a number of cuts and policy option to cut discretionary.
NH&RA Announces New Spring & Summer Events
NH&RA is pleased to announce our Winter, Spring & Summer Calendar. Events including our Winter New Markets Tax Credit Symposium, 2011 Annual Meeting, Spring Policy & Underwriting Forum, Spring Developers Forum, Summer Institute and Summer New Markets Tax Credit Symposium.
Court Overturns VA Tax Credit Decision; IRS Files Appeal of Historic Boardwalk Hall Decision
NH&RA thanks Harold Berk for the following update on a recent Fourth Circuit Court decision impacting state tax credit structures.
Amendment Introduced to Extend 48C Energy Program
U.S. Senator Debbie Stabenow (D-MI) recently introduced an amendment to S. 493 that would extend the Section 48C Advanced Energy Manufacturing Tax Credit program.
Virginia Historic Tax Credit Case Overturned By Appeals Court
Novogradac & Company is reporting that the U.S. Court of Appeals for the Fourth Circuit today published an opinion in the case of Virginia Historic Tax Credit Fund v. Commissioner of Internal Revenue that reverses the December 2009 U.S. Tax Court opinion.
Administration Passes Sixth Budget Continuing Resolution
President Obama last week signed into law the sixth continuing resolution (H.J. Res. 48) for the fiscal year 2011 federal budget.
Congressional Committees Take Up Housing Finance Debate
Last week, Senate and House Committees took up discussions about proposals to reform the nation’s housing finance system.
Representative Higgins Urges National Park Service To Make Historic Credit Changes
Congressman Brian Higgins recently sent a letter to the National Park Service encouraging the service to review its interpretations of the Secretary Standards for Historic Rehabilitation.
NH&RA Winter Golf Round Up
NH&RA had perfect weather for this year’s Winter Golf Tournament at the Raptor Bay Golf Club last week in Bonita Springs, Fla. NH&RA congratulates the following prize winners.
IRS Issues Guidelines on Taxability of TCAP Grants
The IRS Office of the Chief Counsel has issued a new memorandum (#201106008) addressing the taxability of Tax Credit Assistance Program (TCAP) grants.
NHC Releases Two New Reports on Overcoming HUD Barriers
The National Housing Conference (NHC) and its research affiliate, the Center for Housing Policy recently announced the release of two reports that identify specific regulatory and administrative changes the U.S. Department of Housing and Urban Development (HUD) could adopt to improve access to mainstream supportive services by residents of subsidized housing and facilitate and encourage the development and preservation of affordable and workforce housing in location-efficient areas.
Tax Reform on House Committee’s Agenda
The U.S. House of Representatives’ Ways and Means Committee Chairman, Rep. Dave Camp (R-MI) recently announced that the committee will hold the first of several hearings on fundamental tax reform this Thursday,