Scott Cockerham

Scott Cockerham

Ballard Spahr LLP

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Bill introduced in Senate to create permanent LIHTC rate floors

On May 5, 2015, Senators Maria Cantwell (D-WA) and Pat Roberts (R-KS) introduced the “Improving the Low-Income Housing Tax Credit Rate Act” (S. 1193), which would create a permanent 9% minimum low-income housing tax credit...more

5/7/2015 - Affordable Housing Bond Financing LIHTC Proposed Legislation

Obama Administration’s FY 2016 budget would modify LIHTCs, permanently extend NMTC and energy tax credits

As in prior years, the Obama administration’s FY 2016 budget includes a number of impactful, and generally positive, tax credit proposals. With respect to the Low-Income Housing Tax Credit (LIHTC), the budget retains many of...more

2/11/2015 - Federal Budget LIHTC NMTC Production Tax Credit

CDFI Fund FAQ clarifies subsidiary CDE dissolution/decertification Process

In a previous Housing Plus blog post on January 7, 2015, I described the various updates to the CDFI Fund’s Frequently Asked Questions document for the New Markets Tax Credit (“NMTC”) program. The most significant update may...more

1/15/2015 - CDFI Fund Community Development Entities Dissolution New Market Tax Credits Subsidiaries

CDFI Fund Releases Updated Compliance FAQ

On Friday January 2, the CDFI Fund released an updated Frequently Asked Questions document for New Markets Tax Credit (“NMTC”) questions relating to certification, compliance monitoring, and evaluation. The updated FAQ...more

1/8/2015 - Affordable Housing CDFI Fund Community Development Entities HUBZone New Market Tax Credits Tax Allocation Agreements

Senate passes Tax Extender Package at 11th hour

The Senate passed the “Tax Increase Prevention Act of 2014? (H.R. 5771) on Tuesday night just before Congress adjourned for 2014. As Molly Bryson described in her December 5, 2014 post following the House’s passage of the...more

12/19/2014 - Legislative Agendas Popular Tax Extenders

HUD releases list of 2015 QCTs and DDAs

On Friday, October 3, 2014, HUD released a notice announcing new “Qualified Census Tract” (“QCT”) and “Difficult Development Area” (“DDA”) designations for purposes of the low-income housing tax credit under Section 42 of the...more

10/8/2014 - Affordable Housing DDA HUD IRS QCT Tax Credits

IRS releases final LIHTC Audit Technique Guide

Yesterday the IRS released a long-anticipated update to its Audit Technique Guide for the low-income housing tax credit (“LIHTC”) program. The guide is intended to assist IRS examiners charged with auditing owners of LIHTC...more

9/22/2014 - Audits Draft Guidance IRS LIHTC

IRS Notice 2014-46 clarifies guidance for Production Tax Credits and Investment Tax Credits

The American Taxpayer Relief Act of 2012 modified the definition of certain “qualified facilities” under Section 45(d) of the Internal Revenue Code to require that the construction of such facilities must begin prior to...more

8/19/2014 - Electricity Energy Projects Final Guidance Investment Tax Credits IRC IRS Production Tax Credit Renewable Energy

Proposed House Bill would Create Appeals Process for Qualified Census Tract and Difficult Development Areas

On July 24, 2014, Rep. Pete Gallego (D-Texas) introduced legislation in the House of Representatives that would amend Section 42 of the Internal Revenue Code to provide for an appeals process for HUD Qualified Census Tract...more

8/5/2014 - Appeals Census HUD IRC Land Owners Proposed Legislation Tax Appeals

Legislative Update from NCSHA Conference

In previous Housing Plus blog posts we’ve discussed various tax credit proposals that have been released since the beginning of the year, which include the comprehensive tax reform proposal from House Ways and Means Committee...more

7/2/2014 - Affordable Housing EXPIRE Act LIHTC Tax Credits Tax Reform Ways and Means Committee

Proposed Section 752 Regulations and LIHTC Transactions: Part II

In a previous post earlier this week, I described the proposed regulations under Section 752 of the Internal Revenue Code (the “Proposed Regulations”), and in particular, the proposed changes to the rules regarding the...more

5/30/2014 - Affordable Housing Full Recourse IRS LIHTC Nonrecourse Loans Proposed Regulation Tax Credits Tax Deductions Tax Reform

Proposed Section 752 Regulations and LIHTC Transactions: Part I

One of the hot topics at the recent ABA Taxation Section meetings in Washington, D.C. was the IRS’s proposed regulations regarding the allocation of partnership recourse and nonrecourse liabilities under section 752 of the...more

5/28/2014 - Affordable Housing IRS Tax Credits Tax Reform

Reading the tea leaves of tax reform

In prior Housing Plus blog entries we’ve discussed the various tax proposals that have been released over the past four months, including the comprehensive tax reform proposal from House Ways and Means Committee Chairman Dave...more

4/24/2014 - EXPIRE Act Federal Budget Obama Administration Tax Reform

Proposed 2014 Budget Encourages Private Investment in Infrastructure

This week, the Obama administration released its proposed budget for the 2014 fiscal year. Notably, the budget encourages private investment in infrastructure projects through various liberalizations of the tax laws relating...more

4/15/2013 - America Fast Forward Bonds Barack Obama Federal Budget FIRPTA Foreign Investment Infrastructure Public-Private Partnerships Tax Credits Tax-Exempt Bonds

How the New ‘Fiscal Cliff’ Law Affects the Municipal Bond Market

The American Taxpayer Relief Act of 2012 (the Act), passed by the Senate and the House and Representatives on New Year’s Day and signed by the President on January 2, 2013, includes several direct and indirect consequences...more

1/10/2013 - American Taxpayer Relief Act Bonds Capital Gains Exemptions Fiscal Cliff Income Taxes Municipal Bonds Tax Credits

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