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Tax Credits Finance Update - December 27, 2016

Tax Credits Finance Update
December 27, 2016
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Tax Credits Finance Update


Solar Capacity has Grown in NC by More Than 100%, Aided by Incentives
In recent years, North Carolina has emerged as a leader in the solar energy market, ranking third nationally for solar capacity behind California and Arizona. More than 200 solar-related companies exist in the state and approximately 2,436 megawatts of solar power has been installed.

Financing the Trump Infrastructure Plan
According to public finance and infrastructure experts, direct pay bonds similar to Build America Bonds, tax credits, P3s, and federal matching funds may wind up forming the backbone of Donald Trump's proposed 10-year $1 trillion infrastructure investment plan.

States Continue to Improve Transparency of Tax Incentive Programs
States have a number of tools at their disposal to promote economic policies. Supporters of lowered taxes on business argue that tax incentives are a great way to stimulate and support economic growth and equality. States have started to develop ways to address these critiques of tax incentive programs.

Audit Questions if Donated Lands in CO are Worth $1B in Tax Breaks
Colorado's nearly billion-dollar conservation easement program pays more attention to whether a land donation qualifies for a tax break than the merit of its conservation value to the state. About $965 million in tax credits have been approved on over 4,200 easement donations since January 2000.

End of the Road for NJ's Urban Enterprise Zone
A decades-old program aimed at giving an economic boost to struggling communities — known as the Urban Enterprise Zone — is scheduled to start shutting down in January. The program allows communities in which they're located to charge a reduced sales tax to draw more business.

OR's Rooftop Solar Tax Credit to Die
Extending the Residential Energy Tax Credit is a top priority of the Oregon solar industry in the upcoming legislative session, but it still hasn't made it on to Governor Kate Brown's list of things to do.

How CA Convinced Yamaha of America to Stay
Yamaha Corp. of America agreed to remain in California, rather than move to Texas or Tennessee, after the state granted it a $3 million tax break last month. The incentive rewards Yamaha for investing $46 million in a new California campus and creating 66 new full-time jobs.

LIHTC Is Not the Only Tax Credit at Stake
The future of the Federal Housing Tax Credit is uncertain. Legislators, eager to eliminate certain tax credits in order to make up for spending in other areas, could put the program on the chopping block.

Boeing Got Illegal Tax Break for Plane Made in WA State
Boeing received an illegal tax break from Washington state as part of $8.7 billion in aid to assemble the 777X and manufacture the jetliner's carbon-fiber wing there. The tax break gave an unfair advantage to the U.S. planemaker to the detriment of overseas manufacturers.

CO Rural Tax Credit Program to Create a Level Field
Colorado's Rural Jump-Start Tax Credit Program has helped put Mesa County on the radar of prospective businesses because it's a limited opportunity. The purpose of this was to create a competitive advantage that wouldn't exist otherwise.

Tax Credits Offer Hope for Rural Hospitals
The Rural Healthcare Tax Credit, which begins in January 2017, allows individuals and corporations to receive a 70 percent tax credit for donations to hospitals deemed Georgia's most vulnerable by the Department of Community Health. Total donations allowed under the tax credit in 2017 are $50 million.

Treasury Announces $7B Allocation of New Markets Tax Credits
The Treasury's CDFI Fund announced that 120 organizations nationwide will receive a total of $7 billion in New Markets Tax Credit awards. This is the largest single award round since the New Markets Tax Credit Program was created in 2001.

More Headlines

IL EDGE Tax Credit Program Set to Expire
Crain's Chicago Business | Dec. 19 | Tax Credits

KY Angel Investment Tax Credit Looks to Repeat Success in 2017
Northern Kentucky Tribune | Dec. 16 | Access to Capital | Tax Credits

Small-Scale Manufacturers See New Markets Tax Credits as Future Hope
Next City | Dec. 7 | Community Development | Tax Credits

Rascovar: Incentives Work in Maryland and Indiana
Maryland Reporter | Dec. 7 | Incentives | Tax Credits

Entrepreneurship and Innovation Resurgent in New Jersey
New Jersey Spotlight | Dec. 7 | Economic Development | Tax Credits

Companies get $1.3B in Incentives to Move to Camden
New Jersey On-Line | Dec. 7 | Incentives | Tax Credits

St. Louis MLS Stadium Seeks $40M from State, $80M from City
St. Louis Post-Dispatch | Dec. 7 | Tax Credits

New Round of OH Tax Credits to Create $138M in Payroll
Office of The Governor State of Ohio | Dec. 6 | Tax Credits

Kentucky Enterprise Initiative Act Provides $80K Rebate to Denyo
The Advocate-Messenger | Dec. 6 | Economic Development | Tax Credits

Rockford, IL River Edge Tax Credit Passed by House and Senate
Rockford Register Star | Dec. 6 | Local Finance Program | Tax Credits

Incentives Move St. Louis' Ball Park Village Project to Second Phase
St. Louis Public Radio | Dec. 5 | Incentives | Special Assessment Districts | Tax Credits

Historic Tax Credits May Help Save Two Albert Lea Buildings
Albert Lea Tribune | Dec. 1 | Tax Credits

Republican Seeks to Build on SC's Solar Momentum
Southern Alliance for Clean Energy | Nov. 30 | Economic Development | Energy Finance | Green Finance | Tax Credits

Bradenton Affordable Housing Project Proposal Seeks Tax Credits
Bradenton Herald | Nov. 30 | Community Development | Social Finance | Tax Credits

Packard Plant Redevelopment Could Start Next Spring
Detroit Free Press | Nov. 30 | Brownfield Financing | Revolving Loan Funds (RLFs) | Tax Credits

Tax Credits Support Omaha Ammunition Remanufacturing Plant
Kansas City Star | Nov. 29 | Incentives | Tax Credits

Englewood CO Revamps its Economic Incentives Program
Denver Business Journal | Nov. 29 | Economic Development | Incentives | Tax Credits

MI Soybean Processing Plant to Receive $14.8M in Tax Breaks
MLive | Nov. 29 | Agriculture Finance | Tax Credits

Pueblo County CO Giving Program Allows for Tax Breaks
The Pueblo Chieftain | Nov. 22 | Tax Credits

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