Treasury Department

Treasury

Treasury Modifies SLFRF, ERA Rules to Amplify Housing Production

The Treasury Department announced updated guidance for the State and Local Fiscal Recovery Fund (SLFRF) and the Emergency Rental Assistance (ERA2) programs, which make it easier for states and local governments to use these programs to build and preserve affordable housing.  

Treasury and IRS Provide Guidance for Clean Energy Producers

The Department of the Treasury and the Internal Revenue Service issued Notice 2024-9 that provides procedures for applicable entities to claim the statutory exception to the application of the phaseouts for elective payment projects that begin construction during calendar year 2024 that fail to satisfy the domestic content requirement.

General News

Treasury and IRS Provide Guidance for Clean Energy Producers

The Department of the Treasury and the Internal Revenue Service issued Notice 2024-9 that provides procedures for applicable entities to claim the statutory exception to the application of the phaseouts for elective payment projects that begin construction during calendar year 2024 that fail to satisfy the domestic content requirement.

IRS

Treasury and IRS Release Proposed Regulations for Production Tax Credit

The U.S. Department of the Treasury and Internal Revenue Service (IRS) released proposed regulations regarding the Production Tax Credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code

Treasury

CDFI Fund Announces $300 Million in Guarantees

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced that they agreed to issue three guarantees totaling $300 million under the CDFI Bond Guarantee Program.

IRS

Treasury Department and IRS Issue Proposed Regulations for Clean Energy Projects

The Treasury Department and Internal Revenue Service issued proposed regulations related to the increased tax credit or deduction amounts for clean energy facilities and projects, if taxpayers satisfy certain prevailing wage and registered apprenticeship (PWA) requirements.

Treasury

CDFI Capital Magnet Fund and Qualified Investment Report

CDFI Fund released the application data for the fiscal year (FY) 2023 round of its Capital Magnet Fund (CMF) program. A total of 144 organizations submitted applications requesting more than $1.1 billion in funding. The applicants propose to serve 49 states, the District of Columbia, Puerto Rico and Guam. In total, 42 percent of the […]

HUD

HUD, Treasury Describe State’s use of ARP Funds to Increase Affordable Housing Supply

In a new Our Way Home blog post, Sarah Brundage, senior advisor for housing supply & infrastructure at HUD, and Ellen Lurie Hoffman, acting director of the office of community and economic development at Treasury, describe three examples of states utilizing American Rescue Plan (ARP) funding to serve their communities’ housing supply needs.

Treasury

Treasury Report on Second Anniversary of American Rescue Plan Act 

To mark the second anniversary of the American Rescue Plan Act of 2021 (ARPA), the U.S. Department of the Treasury released a report with new data illustrating the extent to which this funding supported both immediate pandemic recovery and long-term economic growth.

Treasury

CDFI New Markets Tax Credit Program

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announces that it received 197 applications for the calendar year (CY) 2022 round of the New Markets Tax Credit Program (NMTC Program).

Treasury

Treasury: New Global Minimum Tax Guidance Will Protect LIHTC

The Department of the Treasury announced that all 142 countries and jurisdictions, including the U.S., participating in the Organization for Economic Cooperation and Development (OECD) and Group of Twenty’s (G20) effort to establish a new 15 percent global minimum tax (GMT) have come to a consensus and released guidance on the GMT’s implementation worldwide.

Treasury

Treasury Awards $690 Million in Reallocated ERA Funds for Eviction Protection Activities

The Department of the Treasury announced it will reallocate $690 million of Emergency Rental Assistance (ERA) program funding to assist with preventing evictions.

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