Register for CDFA's Intro Tax Increment Finance (TIF) WebCourse taking place on June 26-27. Join us to learn the guiding principles and appropriate application of TIF. Our panel of expert instructors will discuss TIF deal-making and best practices highlighted by projects from around the country.

Tax credits are part of the Inflation Reduction Act, an almost two-year-old law that aims to cut the country's greenhouse gas emissions by helping Americans switch to more energy-efficient and environmentally friendly appliances, vehicles, and sources of power. While more Americans than ever have been installing heat pumps or driving electric vehicles, there is still a lack of awareness about resources to help people cover the cost of these switches.

UB Community Development, LLC, a community development partner of United Bank, provided a combined $10 million in Federal and Mississippi New Markets Tax Credit (NMTC) funding to aid in the construction of a utility pole mill in Quitman, Mississippi. Once construction is complete, the new BP&P facility will include office space, a scale house, and maintenance building, as well as new technology and equipment that detects defects in logs before being processed into poles.

The Payson Regional Housing Authority received a perfect score on its tax credit application to build the second phase of the Green Valley Apartments in Payson, AZ. The apartments will be developed on part of the land reclaimed from a floodplain that has stymied development along Main Street since the town was founded. Phase II will have eight one-bedroom apartments, 24 two-bedroom apartments, and eight three-bedroom apartments.

CDFA Summer School is a 2-week long virtual series of courses designed to help you accelerate your development finance education, with a curation of seven different training courses to choose from. Don't miss the opportunity to learn from our expert practitioners and experience CDFA's most interactive educational event of the year! Register today!

Aside from changes to renewable energy, the Inflation Reduction Act (IRA) has brought significant changes to the landscape of tax credits. With the introduction of transferable tax credits on the federal level, there's a timely need to understand how these changes impact various stakeholders. This explores the nuances of these transferable credits and their broader implications for the market.

New York State became the first state in the nation to offer the first phase of Inflation Reduction Act (IRA) Home Electrification and Appliance Rebates Program funding to consumers. The initial $39.6 million formula grant will expand the reach of New York's EmPower+ program by allowing more low-income families to improve their homes with energy efficiency and electrification upgrades that will reduce energy costs and transition away from burning fossil fuels in their homes.

The U.S. Department of the Treasury and IRS released a notice of proposed rulemaking regarding the clean electricity production credit determined under Section 45Y and the clean electricity investment credit determined under Section 48E of the Internal Revenue Code. Enacted by the Inflation Reduction Act, Section 45Y and Section 48E replace the traditional Section 45 production tax credit and Section 48 investment tax credit and apply to projects placed in service after Dec. 31, 2024. The credits are in effect until at least 2032.

SSBCI Learning Series - Enhancing SSBCI Impacts in Indian Country
July 2, 2024 - 2:00 PM - 4:00 PM Eastern

CDFA // BNY Mellon Development Finance Webcast Series: Navigating ESG in the Bond Market
July 16, 2024 - 2:00 PM - 3:00 PM Eastern

>>> VIEW THE TAX CREDITS RESOURCE CENTER   

The Climate Capital Guidebook aggregates current federal funding opportunities—including grants, loans, loan guarantees, and cooperative agreements—for small- and medium-sized companies, both start-ups and established businesses, focusing on clean energy technologies and other climate solutions. The Guidebook also notes which programs are part of the Biden-Harris Administration's Justice40 Initiative.

>>> MORE TAX CREDIT RESOURCES