The CDFI Fund opened the calendar year 2018 new markets tax credit (NMTC) allocation round on May 9 with $3.5 billion available. Allocation awards will be announced in winter, 2019. Learn about this years allocation and more in the July Novogradac NMTC Brief.

The New Markets Tax Credits program, alongside ambitious local funds like the Akron Community Revitalization Fund, are helping Akron, OH build itself back up after suffering a decades-long decline in jobs and population.

What effect does a 21% corporate tax rate have on affordable housing? The marketplace is busy clarifying that answer right now. Few dispute the reduced corporate tax rate has some effect, notably on low-income housing tax credits (LIHTCs). But to what extent?

Although the lack of affordable housing is often seen as a major issue for cities, rural communities also face shortfalls in rental housing that is decent, safe, and affordable. The LIHTC program is often the only source of high-quality affordable housing production and preservation in rural areas throughout the US.

The IRS released new guidance that establishes when the construction of a solar facility starts to qualify for the solar Investment Tax Credit. The guidance provides two methods for determining the "commence-construction" date; starting physical work of a significant nature or meeting the "5 percent safe harbor test."

The Urban Farming Institute and Historic Boston Inc. partnered with The Trust for Public Land and the North Bennet Street School to raise $1.5 million for the project. The restoration was also financed by $400,000 and $350,000 in state and federal historic tax credits respectively.

The heyday of Wisconsin tax credit awards for historic building restorations ended with a bang as the state awarded $57.6 million to developers since the start of May.

The program was the brainchild of a suburban Atlanta lawmaker, Geoff Duncan, a Cumming Republican. His initial legislative effort in 2016 got the donation program started at a 70 percent credit. It was then raised to 90 percent — the amount that Duncan had originally sought. This spring, the Legislature approved the 100 percent credit.

In a major win for the local movie and TV production industries, California has extended the state's film tax incentive program to 2025, adding five years to the program that has helped stem the tide of runaway productions to states including Georgia, Louisiana and New York.

Intro Tax Credit Finance Course
August 7-8, 2018 - Pittsburgh, PA

>>> SEARCH HEADLINES   

This report, produced by the Urban Institute, explores why LIHTC is a critical part of the housing safety net. The report details how and why the program has succeeded, the challenges it faces, and why the program is more important than ever.

>>> MORE TAX CREDIT RESOURCES