New Markets Tax Credits

Ballard Spahr lawyers, Molly Bryson, Doug Fox, Wendi Kotzen and Linda Schakel, recently offered a  presentation regarding the Opportunity Zones established as part of the Tax Cuts and Jobs Act .  As a new program established to encourage capital investment in the over 8,700 Opportunity Zones selected by each of the states, District of Columbia,

As we know, the President has signed what was originally titled Tax Cuts and Jobs Act, the most significant overhaul to the U.S. Tax Code since 1986. The President signed the Act into law after the first of the year in order to avoid some automatic spending cuts.

In its final form, this Tax

After legislation to repeal the Affordable Care Act was pulled from the House floor last Friday, news headlines across the country began reporting that tax reform is next on the Trump Administration’s agenda. As noted in our prior blog post, tax reform that changes the corporate tax rate, the tax-exempt bonds program and the tax-credit

Wind Mills and Solar PanelsAs in prior years, the Obama administration’s FY 2016 budget includes a number of impactful, and generally positive, tax credit proposals. With respect to the Low-Income Housing Tax Credit (LIHTC), the budget retains many of last year’s proposed modifications, and adds a new proposal to remove the population cap for Qualified Census Tract designations. Specifically,

In a previous Housing Plus blog post on January 7, 2015, I described the various updates to the CDFI Fund’s Frequently Asked Questions document for the New Markets Tax Credit (“NMTC”) program.  The most significant update may be the guidance relating to dissolving or decertifying subsidiary Community Development Entities (“CDEs”) at the end of the

On Friday January 2, the CDFI Fund released an updated Frequently Asked Questions document for New Markets Tax Credit (“NMTC”) questions relating to certification, compliance monitoring, and evaluation. The updated FAQ supersedes a prior document released in September 2011. The updated guidance addresses the following issues:

  • Dissolution of subsidiary – Community Development Entities (“CDEs”);
  • Termination

ClockThe Senate passed the “Tax Increase Prevention Act of 2014” (H.R. 5771) on Tuesday night just before Congress adjourned for 2014. As Molly Bryson described in her December 5, 2014 post following the House’s passage of the bill, the tax extenders package provides a one-year retroactive extension of certain tax provisions that expired at the

The NMTC is a great tool to finance temporary housing shelters and related facilities to combat chronic homelessness around the county.

Blanchet House of Hospitality – Portland, Oregon

In 2011, USBCDC, one of the largest New Markets Tax Credit investors, used the credit to finance a facility for Blanchet House of Hospitality, a social services

Store FrontsThe Office of the Comptroller of the Currency, Treasury, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation are the federal agencies that implement the Community Reinvestment Act (CRA). These agencies also provide guidance to agency personnel, financial institutions and the public in the form of written guidance called

Last week, the CDFI Fund provided guidance for CY 2014 NMTC Program applicants by updating its 2014 NMTC Program Allocation Application Frequently Asked Questions.  Responding to various questions it received during its August 12th and August 14th conference calls regarding the application process, the CDFI Fund responded to many questions and concerns raised during