Come Hear Experts Discuss the New Markets Tax Credit Landscape!
Want to learn the latest on New Market Tax Credits? Join us at the CDFA National Development Finance Summit, Presented by CHFA, in Denver, CO on Thursday, November 3 for a session on ways to structure deals with NMTCs and other forms of capital. Experts will also be diving into case studies that have successfully utilized NMTCs for their projects. You don't want to miss out!
How to Make the Most of the New U.S. Climate Tax Credits
The United States government just passed the Inflation Reduction Act, a sweeping piece of legislation that allocates nearly $400 billion dollars to fund clean energy and climate efforts. A big chunk of that amount is earmarked for tax credits for consumers. If you want to install solar panels, buy better windows, purchase a heat pump, or start driving an electric vehicle, there's a good chance you could get some money to offset the cost.
Ohio Agency Poised to Approve $650M Intel Tax Break
The state is poised to grant additional financial incentives to Intel that figure to save the semiconductor company about $650 million in state taxes over the next 30 years for its project in New Albany. Intel has said it will create 3,000 jobs with its $20 billion plan to build two semiconductor plants in New Albany.
Grappone, NH Receives $18M New Markets Tax Credit to Build New Facility
The Grappone group of auto dealerships has received an $18 million New Markets Tax Credit to help it build a new 25,800-square-foot home for its Mazda dealership that will also include a training center and community meeting space. The company received the credit through Mascoma Community Development to finance acquisition of the site and construction of the building.
Iowa Finance Authority Awards $10M in Federal Housing Tax Credits for Rental Units
The Iowa Finance Authority Board of Directors awarded a total of nearly $10 million in federal housing-tax credits to support the construction of a total of 385 affordable-rental homes for Iowans. The awards were made to rental-housing projects located across eleven counties.
The 2022-23 California Spending Plan Housing and Homelessness
The upcoming year's budget authorizes an additional $7.2 billion over three years to 20 major housing and homelessness programs. The vast majority of spending is General Fund, including $2 billion in emergency spending related to rental assistance that is funded through the California Emergency Relief Fund and $500 million is in the form of tax credit authority.
Four Reasons HUD's Section 108 Program Works with Historic Tax Credits
The U.S. Department of Housing and Urban Development's (HUD's) Section 108 Loan Guarantee program has offered flexible financing for local community and economic development activities. It's a potent financing tool that can go hand-in-hand with tax credit investments, such as the historic rehabilitation tax credit.
Missouri Governor Calls Session on State Income Tax Cuts and Agricultural Tax Credits
Missouri Gov. Mike Parson has called for a special session of the state legislature regarding his proposal to make state income tax cuts and extend agricultural tax credit programs for at least six years. The governor's proposal extends the expiration of the meat processing facility investment tax credit, the Rolling Stock Tax Credit program, the Agricultural Product Utilization Contributor Tax Credit, and the New Generation Cooperative Incentive Tax Credit.