This notice modifies the existing domestic content safe harbor in Notice 2023-38, provides a new elective safe harbor for determining the domestic content bonus credit amounts under §§ 45, 45Y, 48, and 48E of the Internal Revenue Code, and requests...

This notice provides additional guidance to clarify and amplify the procedures for the allocation of credits under Section 48C of the Internal Revenue Code regarding the qualifying advanced energy project credit program.

The U.S. Department of the Treasury and the Internal Revenue Service released final guidance describing rules and definitions for transferrable tax credits/incentives in the Inflation Reduction Act. They will be published in the April 30, 2023,...

This notice provides guidance for qualified student loan bonds to clarify certain requirements for tax-exempt bond financing for loan programs of general application approved by a State under § 144(b)(1)(B) (State Supplemental Loan programs). ...

Using data from the National Housing Preservation Database (NHPD), this report focuses on the challenge of preserving the federally assisted housing stock in the face of the national affordability crisis and chronic underfunding for housing programs.

IRS Revenue Procedure 2021-45 sets out the calendar year 2022 Low-Income Housing Tax Credit and Bond Volume Caps.

Novogradac conducted an analysis of the private activity bond (PAB) financed by test for low-income housing tax credits (LIHTCs). The analysis determined that lowering the financed by test for PAB test from the current law threshold of 50 percent to...

This webinar discussed how Bonds, Tax Increment Finance, Tax Credits as well as the litany of federal funding through recent legislation can work for your project and ultimately the community that is benefitting.

Developed by the Federal Reserve Bank of St. Louis, the newly enhanced Community Investment Explorer (CIE) 2.0 includes over 73 million transactions totaling over $3.2 trillion in community and economic development capital from 2012 to 2020. This...

The Biden-Harris Administration is proposing a bold investment in America's housing infrastructure to make housing more affordable for working and middle-class families. The American Jobs Plan pairs $213 billion in direct funding with more than $100...

This announcement from the IRS confirms that the boundaries of the Designated QOZs were established at the time they were designated and are not subject to change because of the 2020 Census.

The Families First Coronavirus Response Act, CARES Act, Consolidated Appropriations Act of 2021, and the American Rescue Plan Act included billions of dollars in supplemental funding for human services and education programs as well as various...

This publication provides an overview of the federal tax law rules that apply to municipal financing arrangements commonly known as “governmental bonds.” It is intended to help issuers meet federal tax law requirements to ensure that interest...

To address local disparities and help struggling areas thrive, governments at all levels have spent billions of dollars on a range of geographically targeted, or "place-based," economic development programs — mostly in the form of financial...

IRS Revenue Procedure 2020-45 sets out the calendar year 2021 Low-Income Housing Tax Credit and Bond Volume Caps.

This document provides an overview of information on Internal Revenue Service (IRS) regulations with respect to brownfields investment in Opportunity Zones. Learn more about how Opportunity Zones can help local governments meet goals for sustainable...

This white paper looks at how 5 successful programs can be used to finance the recovery from COVID-19. The 5 programs are C-PACE and R-PACE, State Historic Tax Credits, State Opportunity Zones Programs, State New Markets Tax Credits, and Solar and...

As mandated through the Housing and Economic Recovery Act of 2008, state agencies administering the Program are required to submit demographic and economic data on LIHTC tenants to HUD. While not inclusive of all tenants served by the LIHTC, the...

CALED knows from its work supporting economic development throughout California that infrastructure financing is a challenge for many rural communities. CALED collaborated with CDFA to develop this guidebook to meet the need for a resource to help...

"Moving America and the Environment Forward" is a House Ways and Means Committee statement of principles on how the committee wants to approach an infrastructure bill. It includes $760 billion of proposals.

This report by the Staff of the Joint Committee on Taxation was prepared on January 29, 2020 for a hearing before the House Committee on Ways and Means. It discusses an overview of infrastructure financing options, including the highway trust fund,...

Please be advised that on Tuesday, January 21, 2020, the Internal Revenue Service released a revised Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds (“IRS Form 8038-CP”).

The Low-Income Housing Tax Credit (LIHTC) is a complex but crucial tool for the production and preservation of affordable rental housing. In this report, the Urban Institute outlines the basics of the LIHTC program, including how it works, the...

IRS Revenue Procedure 2019-44 sets out the calendar year 2020 Low-Income Housing Tax Credit amounts, Bond Volume Cap, loan limits on agricultural bonds, arbitrage rebate rules, and other important amounts.

This document contains final regulations governing the extent to which taxpayers may elect the Federal income tax benefits provided by section 1400Z-2 of the Internal Revenue Code (Code) with respect to certain equity interests in a qualified...

The establishment of safe harbors is one of the key issues raised by public finance industry groups in their comments to the U.S. Treasury, Internal Revenue Service and the Governmental Accounting Standards Board on their proposed guidance for...

This is a section-by-section summary of the Growing Renewable Energy and Efficiency Now ("GREEN") Act. The GREEN Act would extend the renewable energy production tax credit (PTC) and investment tax credit (ITC) until 2024. It would also extend the...

Jonathan Crawford from Stonehenge Capital Company, LLC presents on Opportunity Zones and Tax Credits in Ohio during the Ohio Roundtable

The purpose of this guide is to offer tribal leadership in New Mexico with a comprehensive overview of the steps required to create homeownership programs on reservation land, with a particular focus on the mortgage lending process.

This newly-updated document from the IRS contains answers to Frequently Asked Questions (FAQs) on Opportunity Zones.

This report to the Senate Finance Committee focused on cost recovery provisions in the tax code that have expired as of July 2019. These included the Energy-Efficient Commercial Buildings Tax Deduction, recovery provisions for entertainment...

One-third of reservation-based Native Americans fall below the poverty line, and the nations governing these reservations, unable to spur economic development, struggle to provide even the most basic services. Yet, despite their difficulty in...

Every year the National Low-Income Housing Coalition examines the American Community Survey (ACS) to determine the availability of rental homes affordable to extremely low-income households. This 2019 report provides a picture for the nation, which...

The Internal Revenue Service (IRS) on May 22, 2019, issued much awaited guidance in Notice 2019-39. This Notice allows for refinancings or refundings by Native American tribal governments of Tribal Economic Development bonds and loans (TEDs) without...

When paired with energy efficiency measures, cost effective solar energy systems can support state and local program administrators’ goals to reduce low-income household energy burden. Energy burden is the share or percentage of annual household...

On April 17, 2019, the Department of the Treasury released its second round of proposed regulations on Opportunity Zones.

Today’s federal housing assistance programs fall into three main categories: rental housing assistance, assistance to state and local governments, and assistance for homeowners. This 2019 Congressional Research Service report provides an overview of...

Beginning April 1, 2019, issuers of qualified private activity bonds will be governed by a new set of TEFRA regulations (the Final TEFRA Regulations). The Final TEFRA Regulations, which stem from the Treasury Department’s 2017 Proposed Regulations...

Current projections of solar photovoltaic (PV) system costs and deployment in the United States indicate substantial capital requirements over the next 30 years and beyond. Concurrently, community and regional financial institutions (CRFIs),...

This report—an update based on Fiscal Year 2016 data—continues a series of U.S. Energy Information Administration (EIA) reports on federal direct financial interventions and subsidies into energy markets. EIA assigns within-scope U.S. tax and direct...

The Department of the Treasury's IRS released new Proposed Regulations regarding Bond Reissuance. The Proposed Regulations address the subject of “reissuance” in connection with issues of tax-exempt obligations. The Proposed Regulations...

This IRS Publication 4078, Tax-Exempt Private Activity Bonds, provides a revised overview of the general federal tax law rules that apply to qualified private activity bonds.

The NIJC produced this helpful executive summary of Tribal Economic Development Bonds for tribal leaders.

Jong Sook Nee with Nee Plata Law presents several case studies on how several federal financing tools can be utilized on a single project.

Bennett Hilley with the U.S,. Department of Housing and Urban Development presents on the various development finance tools they provide and how they could work with other federal tools.

This document contains proposed regulations that provide guidance under section 1400Z-2 of the IRC relating to gains that may be deferred as a result of a taxpayer's investment in a Qualified Opportunity Fund.

The IRS has released this revenue ruling addressing the application to real property of the “original use” requirement in IRC section 1400Z-2(d)(2)(D)(i)(II) and the “substantial improvement” requirement in IRC section 1400Z-2(d)(2)(D)(i)(II) and...

This report, produced by the Government Accountability Office (GAO), identifies trends and successes in the Low-Income Housing Tax Credit (LIHTC) program and opportunities present to advance oversight of development costs.

The IRS Publication 5005 provides an overview for state and local governments of the responsibilities of the conduit issuer with respect to the tax compliance in municipal financing arrangements commonly known as conduit financings.

An Introduction to Private Activity Bonds from the Congressional Research Service.