Indiana

Alabama

IRS Sets State Tax Credit Ceilings for 2013

The Internal Revenue Service (IRS) announced in Revenue Procedure 2012-41 that it has set the inflation-adjusted State credit ceiling for the Low-Income Housing Tax Credit (LIHTC) program and private activity bond caps for calendar year 2013.

Indiana

Indiana to Host 2013 QAP Forum

On September 5, 2012 the Indiana Housing and Community Development Authority will host its 2013 QAP Forum in Indianapolis.

Indiana

IHCDA Executive Director Leaving the Agency

Indiana Lieutenant Governor Becky Skillman recently announced that Sherry Seiwert is departing the Indiana Housing and Community Development Authority (IHCDA) to become President of Indianapolis Downtown, Inc.

Indiana

Indiana Issues Clarification on IDA Tax Credit vs. IDA Program

The Indiana Housing and Community Development Authority (IHCDA) recently announced the availability of $100,000 in Individual Development Account (IDA) tax credits for purchase by individuals or companies and subsequently issued clarifications about the difference between Individual Development Account (IDA) tax credits and the IDA program in general.

Indiana

Indiana and Kentucky Allowing LIHTC Owners to Provide Temporary Housing to Storm Victims

In accordance with IRS Revenue Procedure 2007-54, the Indiana Housing and Community Development Authority (IHCDA) and the Kentucky Housing Corporation (KHC) have permitted owners of Section 42 LIHTC properties to provide temporary emergency housing to individuals affected by the recent floods and tornadoes.

Indiana

Indiana House Approves Historic Credit Bill

Indiana’s House of Representatives recently approved and sent the Senate a bill to revise the state’s historic tax credit program, which currently provides a credit equal to 20% of qualified rehab expenses.

Indiana

Indiana Adopts Tax Credit Property Legislation

On February 1, the Indiana State Senate adopted Senate Bill 344, which requires county assessors to include the value of the federal low-income housing tax credit (LIHTC) in the assessed value of tax credit properties.

Indiana

Indiana Introduces LIHTC Property Tax and State Tax Credit Legislation

Indiana State Senator Brandt Hershman (R) has introduced Senate Bill 344, which would repeal of the prohibition against using the value of federal income tax credits awarded under Section 42 for the purpose of determining assessed value.

Indiana

Indiana Proposes NMTC Program

Indiana State Reps. Suzanne Crouch (R) and Peggy Welch (D) last week introduced H.B. 1248 to create the New Markets Job Growth Tax Credit. The program would provide a state tax credit equal to 39 percent of the purchase price of a qualified investment, which the bill limits to $10 million per transaction.

Alabama

IRS Issues Notice on Refunding Disaster Relief Bonds

The IRS issued Notice 2012-3 to provide guidance on current refunding issues for outstanding prior bond issues that qualify for tax-exempt bond financing under disaster relief bond programs including Gulf Opportunity Zone Bonds (GO Zone Bonds), qualified Midwestern disaster area bonds and Hurricane Ike disaster area bonds under the Heartland Disaster Act.

Arkansas

Bill Would Extend Increased Historic Credit for Midwestern Disaster Communities

U.S. Representative Bruce Braley (D-IA) last week introduced the Rebuilding Communities Act (H.R. 2901), which would extend a provision enacted in 2008 that increased the historic tax credit to 26 percent and the rehabilitation tax credit to 13 percent in Midwestern communities affected by natural disasters.

Indiana

Indiana Releases Final 2012-2013 QAP

The final version of the 2012-2013 Qualified Allocation Plan (QAP) has been released by the Indiana Housing & Community Development Authority (IHCDA).

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