Minnesota
New Report Examines Impact of Minnesota’s Historic Credit
The University of Minnesota has released a new report entitled, “Economic Impact of Projects Leveraged by the Minnesota Historic Rehabilitation Tax Credit.” The report analyzes the economic impact of the Minnesota Historic Rehabilitation Tax Credit, which was signed into law in April 2010.
IRS Releases Unallocated Credit Carryovers for Certain States
The Internal Revenue Service (IRS) published Revenue Service 2011-57 which dictates the amounts of unused housing credit carryover allowances allocated to qualified states. Nearly $3.66 million of unused credits were divided among the states in the National Pool.
Minnesota Governor Proposes State NMTC Program
Recently, at a State job summit convened in St. Paul, Minnesota Governor Mark Dayton announced his intentions to create a state New Markets Tax Credit Program (NMTC).
Minnesota Announces New MHFA Deputy Commissioner
The Minnesota Housing Finance Agency (MHFA) has announced Barb Sporlein as its new Deputy Commissioner.
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.
Minnesota Releases “˜Environmental Scan’ of Housing
Minnesota’s Housing Finance Agency (MHFA) has released a report entitled, “Environmental Scan: Demographic, Economic and Market Factors Impacting Housing.”
Minnesota Releases Proposed 2012-2013 Budget Summary
The Minnesota Housing Finance Agency recently published the state’s FY 2012-2013 housing budget proposal summary.
State Historic Rehabilitation Tax Credit Outlook for 2011
NH&RA Historic Preservation Development Council Member MacRostie Historic Advisors has posted an excellent state historic tax credit update on its website.
States Release QAPs, Materials Governing 2011 LIHTC Program
Several state housing finance agencies have released varying drafts of their 2011 QAPs over the past few weeks, as well as LIHTC program materials, proposed changes and other information.
Minnesota Names Assistant Commissioner For Multifamily Business
Minnesota Housing announces the appointment of Marcia Kolb as Assistant Commissioner for Multifamily Business.
Minnesota Enacts Historic Tax Credit Law
Minnesota Governor Tim Pawlenty early this month signed into law the Minnesota Jobs Stimulus Bill (House File 2695
Minnesota Releases Proposed Revisions for 2011 QAP
The Minnesota Housing Finance Agency has released a notice of proposed revisions to 2011 low-income housing tax credit program, QAP and procedural manual.