State Tax Credits

Michigan Governor Rick Snyder recently made a proposal to replace the Michigan Business Tax with a flat rate corporate income tax, and, as part of the package, the proposal eliminates the state’s historic preservation tax credit. 

Iowa Governor Terry Branstad signed into law a measure to make the state historic tax credit align more closely with the federal credit.

NH&RA is pleased to make available the slides presented at the recent 2011 NCAHMA Spring Affordable Housing Policy & Underwriting Forum, April 27-28 in Washington, DC. Slides will be available to the public for a limited time only, and then only available to NH&RA members.

Michigan Governor Rick Snyder last week revealed his executive budget for fiscal years 2012 and 2013, in which he proposes eliminate virtually all state tax credit programs.

NH&RA thanks Harold Berk for the following update on a recent Fourth Circuit Court decision impacting state tax credit structures.

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.

New Jersey Governor Chris Christie last week vetoed a bill that would have created a state historic rehabilitation tax credit program in New Jersey.

Missouri State Senator Will Kraus (D-Jackson) recently introduced two senate bills relating to the state’s historic and low-income housing tax credit programs.

NH&RA Historic Preservation Development Council Member MacRostie Historic Advisors has posted an excellent state historic tax credit update on its website.

Missouri State Senator Jason Crowell (R-Cape Girardeau) recently introduced a series of bills related to the state’s tax credit policies & regulation.

NH&RA is pleased to offer the PowerPoint slide presentations for sessions exhibited during the 2010 Fall Developers Forum, October 18 & 19 in Boston, Mass.

The Ohio Department of Development (ODOD) recently announced that it is making $10 million available to four Ohio entities to spur economic investments through the first round of its Ohio New Markets Tax Credit Program.