News

The Wisconsin Housing and Economic Development Authority (WHEDA) will host four tax credit workshops that will cover the basics of the program, compliance requirements and WHEDA’s monitoring procedures.

The Federal Housing Finance Agency (FHFA) recently announced the next step in its Real Estate-Owned (REO) Initiative, targeted to hardest-hit metropolitan areas “” Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida.

NH&RA is pleased to offer the PowerPoint Presentations from our recent 2011 Annual Meeting & New Markets Tax Credit Symposium, which was held February 22-26 at the Breakers Resort in Palm Beach, Fla. In addition, we have included additional conference materials, relevant articles, reports, memos, etc. under the relevant session titles.

NH&RA is pleased to announce the election of following eight new directors at our 2012 Annual Meeting on February 23, 2012 at the Breakers in Palm Beach….

The National Park Service (NPS) recently published its annual report on the historic tax credit program for 2011. The report, entitled “Federal Tax Incentives for Rehabilitating Historic Buildings: Annual Report for Fiscal Year 2011,” includes information about the program’s use and performance throughout 2011.

The Internal Revenue Service (IRS) has released Notice 2012-22 to provide updates on Notice 2008-40 and Notice 2006-52, both of which relate to guidance on deductions for energy efficient commercial buildings.

On February 17, the House of Representatives and the Senate both passed H.R. 3630, which will provide an extension of the payroll tax holiday, unemployment benefits and restored Medicare reimbursement rate provisions. Noticeably absent from the deal is an extension to the New Markets Tax Credit tax provisions, which expired in December 2011.

The Virginia Housing Development Authority (VHDA) has released a memo to provide clarification for potential applicants in the state’s 2012 LIHTC funding round.

U.S. Department of the Treasury’s Deputy Secretary Neal Wolin along with U.S. Senator Mary Landrieu, U.S. Representative Cedric Richmond, and Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell, announced $3.6 billion in New Markets Tax Credit (NMTC) awards to 70 community development entities (CDEs) nationwide under the 2011 NMTC program funding round.

The Texas Department of Housing and Community Affairs (TDHCA) has released its public hearing schedule to gather public comments on 2012 Competitive Housing Tax Credit (HTC) Applications.

The Arizona Department of Housing (ADOH) has issued clarifications to the state’s 2012 Qualified Allocation Plan (QAP).

U.S. Treasury Secretary Timothy Geithner on February 22 released the Obama Administration’s framework for corporate tax reform. Among other things, it calls for making the renewable energy production tax credit permanent and refundable.