Thanks to a $400 million, three-year deal between Heliene and Suniva, solar panels and cells will be entirely made in the U.S., a unique combination until now. Leaders from both companies pursued the deal to take advantage of a 10% Domestic Content Bonus Investment Tax Credit.

NeighborWorks Capital, a national non-profit Community Development Financial Institution (CDFI), has partnered with National Equity Fund (NEF), a leading non-profit multi-family, affordable, real estate investment manager, to launch the NeighborWorks Capital Equity Fund. This first-of-its-kind equity fund will provide high-performing community-based non-profit organizations with a set of standardized, equitable Low-Income Housing Tax Credit (LIHTC) terms.

Revolving Loan Fund WebCourse Week is returning with the intro level on May 13-14 followed by the advanced level on May 15-16. Register for one or both of these courses to learn from experts about developing, implementing, and managing efficient and impactful revolving loan fund programs.

The National Park Service (NPS), which oversees the federal historic tax credit (HTC) incentive, launched a new web page with information on sustainability, energy efficiency, and resilience in historic buildings. This is the first time that information is gathered on one site. The NPS also issued new guidance on resilience to natural hazards, adapted from guidance issued in 2017 and 2021.

U.S. Department of Agriculture Rural Housing Service (RHS) recently announced amendments to the Section 538 Guaranteed Rural Rental Housing Program (GRRHP). This announcement stated that the added flexibilities will allow RHS to prioritize investments in projects that waive their "Qualified Contract" rights. The rule change will allow for Low-Income Housing Tax Credit developments in rural areas to remain affordable to residents during the 30-year period established by the LIHTC program.

The development of a building in a low-income community with both commercial and residential rental uses presents several issues when considering the use of the federal Low-Income Housing Tax Credit (LIHTC) and/or New Markets Tax Credit (NMTC) incentives. Navigating the complexities of the LIHTC and NMTC programs requires careful consideration of the composition and intended uses of the building, as well as adherence to the specific requirements outlined by the LIHTC and NMTC incentives.

Communities nationwide are looking for creative ways to reuse vacant, outdated, or underutilized real estate in the form of offices, hotels, manufacturing sites, warehouses, department stores, and terminals. The Biden Administration announced proposals and guidance for states, municipalities, and developers to repurpose underutilized commercial properties into affordable housing, highlighting existing tax credits and programs available for conversions - including the Low-Income Housing Tax Credit, a Workforce Housing Tax Credit, and the Historic Tax Credit.

Increased interest in installing solar at affordable housing projects has grown since the IRC Section 48 energy investment tax credit (ITC) could subsidize as much as 70% of the cost and the Inflation Reduction Act (IRA) has made it easier to monetize the ITC. The benefits for installations at affordable housing projects that qualify for the Low-Income Housing Tax Credit (LIHTC) under Section 42 are even greater because LIHTCs are no longer reduced if the ITC is claimed. Further, with appropriate structuring, many states include the solar cost in basis for purposes of the LIHTC calculation.

CDFA Tribal Finance Webinar Series: Empowering Native Entrepreneurs Through Access to Capital
April 23, 2024 - 2:00 PM - 3:30 PM Eastern

CDFA Food Systems Finance Webinar Series: Financing Food Systems with Revolving Loan Funds
April 30, 2024 - 2:00 PM - 3:30 PM Eastern

>>> VIEW THE TAX CREDITS RESOURCE CENTER   

This announcement addresses the Federal income tax treatment under the Internal Revenue Code of amounts paid toward the purchase of energy efficient property and improvements under the Department of Energy Home Energy Rebate Programs pursuant to the Inflation Reduction Act of 2022.

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