Join CDFA for the Return of the Revolving Loan Fund Training Course Week!
Revolving Loan Fund Week is coming up next week, with the Intro Revolving Loan Fund Course on May 1-2 followed by the Advanced Revolving Loan Fund Course on May 3-4. Register for one or both of these courses to learn from experts about developing, implementing, and managing revolving loan fund programs that are efficient and impactful.
Senators Back a $973M Wide-Ranging Tax Break Package
The Finance and Tax Committee unanimously backed SPB 7062, which is ready to go to the full Senate. The House has proposed a $1.38 billion package and legislative leaders will negotiate a final tax plan as part of upcoming budget talks.
Perinton, NY Apartment Complex to Undergo $130M Renovation Project
The area's largest suburban public housing development is going to get a long-demanded renovation. The Pines of Perinton will start its makeover nearly a year and a half after a massive fire displaced 65 people.
New Jersey EDA Board Approves Food Desert Relief Tax Credit Program Rules
The New Jersey Economic Development Authority (NJEDA) Board today approved proposed rules for the $240 million Food Desert Relief Tax Credit Program, which will help address food access challenges by attracting and retaining new supermarkets in the 50 Food Desert Communities (FDCs) designated by the NJEDA last year.
Congresswoman Tenney Introduces Tax Credit Bill to Assist Rural Developers
Congresswoman Claudia Tenney, a member of the House Ways and Means Committee, introduced the New Markets Tax Credit Extension (NMTC) Act of 2023. This bipartisan legislation would make the NMTC permanent, index the allocation to inflation in future years, and exempt NMTC investments from the Alternative Minimum Tax.
Pinnacle Secures $72M for Affordable Housing Project in Miami, FL
Pinnacle has broken ground on Pinnacle at Tropical Pointe, a 215-unit affordable housing development in the Princeton neighborhood of Miami-Dade County. Pinnacle has closed $72.3 million in financing for the development through local bonds, tax credit equity, and local subsidies.
Low-Income Housing Tax Credits News Briefs
Introduced on March 7 in the U.S. Senate, the Neighborhood Homes Investment Act would create a tax credit for the rehabilitation of deteriorated single-family homes in distressed neighborhoods. The legislation would create a credit for the lesser of the excess of development costs over the sales price, 35% of development costs, or 28% of the national median price for new homes.
Treasury Releases Proposed Guidance on Clean Vehicle Credit
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released proposed guidance on the new clean vehicle provisions of the Inflation Reduction Act that will lower costs for consumers, build a resilient industrial base and spur manufacturing in the U.S., and strengthen supply chains that are vital for energy security. This guidance will help ensure that American workers, companies, and consumers continue to benefit from private sector investment in clean vehicle and battery supply chains.