News & Analysis as of

Tax Credits

The Better Care Reconciliation Act: Similarities to House Health Care Bill, Preserves Parts of ACA

by Bass, Berry & Sims PLC on

On June 22, 2017, Senate Republicans released a draft of the Better Care Reconciliation Act (BCRA), their much-anticipated version of the legislation to "repeal and replace" the Affordable Care Act (ACA). Despite rumors of a...more

Senate Healthcare Bill Released for Public Review

Just over four weeks after the Congressional Budget Office (CBO) released its score of the American Healthcare Act (AHCA), the bill passed by a narrow margin in the U.S. House of Representatives, the U.S. Senate released ‘The...more

Tax Provisions in the 2017 Budget Bill

by Smith Anderson on

The General Assembly released today the Proposed Conference Committee Substitute (the “Conference Bill”) for Senate Bill 257, the state budget bill. The Conference Bill is expected to be approved by the General Assembly later...more

Iowa Submits Sweeping 1332 Waiver Seeking Emergency Relief

Overview - On June 12, Iowa submitted a sweeping Section 1332 waiver that would replace the Affordable Care Act’s (ACA) premium tax credits with a new state-administered tax credit and a reinsurance program. The state tax...more

Alabama Tax Legislative Summary: 2017 Regular Session -- Some Unofficial Predictions For Upcoming Session(s)

The Alabama Legislature adjourned late Friday, May 19, with several tax bills crossing the finish line during the final week (and many on the last day). Both the Education Trust Fund and General Fund budgets were passed by...more

Florida Doubles Brownfield Cleanup And Redevelopment Tax Credits & Adds Innovative Tools For Site Cleanups

by Akerman LLP on

Innovative Florida environmental site cleanup and Brownfield programs received a boost as the 2017 regular session of the Florida Legislature concluded. Yesterday, Governor Scott signed into law a measure designed to add...more

Maryland New Tax Credit for Energy Storage Systems

by Williams Mullen on

Maryland’s Governor Hogan has signed into law a state income tax credit for specific costs related to energy storage systems installed between January 1, 2018 and December 1, 2022. Systems eligible for the credit are systems...more

Transformational Brownfield Projects Eligible for Substantial Tax Incentives Under Recently Enacted Legislation

by Miller Canfield on

Brownfield redevelopment authorities and developers and owners of transformational brownfield redevelopment projects are eligible for substantial tax incentives under legislation signed by Governor Snyder on June 8,...more

Green Cars: Reducing Range Anxiety and Increasing Incentives

by Snell & Wilmer on

The “green car” market is growing. Tesla may lead the way in luxury, but almost all auto manufacturers are investing significantly in plug-in electric vehicles (EV(s)). Policy, law, and regulation must change as the EV market...more

SC House Tax Policy Review Committee Update: June 2017

by Nexsen Pruet, PLLC on

The House Tax Policy Review Committee met on Tuesday, June 6, 2017, for a briefing regarding the tax impacts of H.3516, commonly referred to as the roads bill, by Representative Gary Simrill (R-York). Tom Cone and Don...more

Can Congress Get to “Yes” on Replacing the Affordable Care Act?

Senate Majority Leader Mitch McConnell recently gave a candid assessment of the chances of getting an Affordable Care Act (ACA) replacement bill through the Senate, saying “I don’t know how we get to 50 (votes) at the...more

Alabama Historic Rehabilitation Tax Credit Reinstated through 2022

The original Alabama Historic Tax Credit (“HTC”) program was successful in stimulating the redevelopment of aging properties across Alabama, and was particularly recognized for its role in the revitalization of downtown...more

Health Care Reform Weekly Roundup – Issue 3

Below are key health care reform developments from the week of May 22nd. CBO/JCT Estimate for AHCA Released. The Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) released an updated cost estimate...more

Request for IRS Guidance on LIHTC Issues

by Ballard Spahr LLP on

Last week at the annual meeting of the American Bar Association Forum on Affordable Housing and Community Development (Forum), Michael Novey, Associate Tax Legislative Counsel, Office of Tax Policy, U.S. Department of the...more

What California Bills Survived the Suspense File?

by Fisher Phillips on

As we discussed recently, this was a significant week in the California Legislature, as the Assembly and Senate Appropriations Committees decided the fate of hundreds of bills in announcing which bills made it off the...more

Issues for Employers as Health Care Legislation Moves to the Senate

by Jones Day on

ABSTRACT - Although the American Health Care Act, as passed by the U.S. House of Representatives, mainly affects the individual and small group health insurance markets, it has implications for large employers. The repeal of...more

May Washington Update

This month’s Washington Update provides insight into a number of energy-related developments at the federal level, including President Trump’s recently proposed budget for Fiscal Year 2018, the Senate’s failed efforts to turn...more

Circular on Pilot Tax Policies for Venture Capital Firms and Individual Angel Investors

In order to promote the sustainable and healthy development of venture capital investment, the Ministry of Finance and the State Administration of Taxation have jointly promulgated the Circular on Pilot Tax Policies for...more

The Joint Tax Return

by Moskowitz LLP on

IRS data indicates that over 95% of married couples file jointly – and for most, but not all, couples this makes good economic sense. In this two-part series, we will discuss the advantages and disadvantages of filing joint...more

The Suspense is Killing Me! What Big Labor Bills Will Make it Off the Suspense File?

by Fisher Phillips on

In the California Legislature, bills first are referred to the appropriate policy committee for hearing. Labor bills are referred to the Labor Committee, crime bills are referred to the Public Safety Committee, health bills...more

UPDATE: Boost to Georgia Rural Hospital Tax Credit Signed into Law by Governor

by Arnall Golden Gregory LLP on

The Georgia Rural Hospital Tax Credit, created in 2016 to throw a lifeline to Georgia's struggling rural hospitals, received an update after Governor Nathan Deal signed S.B. 180 into law on May 8, 2017. The new law is...more

Renewable Energy Update - May 2017 #2

by Allen Matkins on

Renewable Energy Focus - EIA charts utility-scale solar’s ‘rapid’ five-year growth - Solar Industry Magazine - May 4 - U.S. utility-scale solar installations, including both photovoltaic (PV) and thermal...more

Virginia Historic Rehabilitation Tax Credits: a Legislative Update

by Williams Mullen on

The Virginia Historic Rehabilitation Tax Credit (“HRTC”) Program (Virginia Code § 58.1-339.2) has been a significant factor in the preservation of historic properties and the revitalization of urban centers across the...more

House Passage of American Health Care Act and Outlook for Senate Action and Discussion

by Holland & Knight LLP on

The U.S. House of Representatives narrowly passed H.R. 1628, the American Health Care Act (AHCA), by a vote of 217-213 on May 4, 2017, with all Democrats and 20 Republicans opposing the bill. The legislation traversed a...more

The American Health Care Act: Summary of House-Passed Bill to Repeal and Replace Portions of the Affordable Care Act and Next...

Last week, the House took the first step to repealing and replacing the Affordable Care Act (ACA) by passing a bill titled “The American Health Care Act” (AHCA). On May 4, 2017, after numerous fits and starts over the past...more

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