News & Analysis as of

LIHTC

Federal Tax Reform: The Current State of Play & The Big Picture (Updated 11/16)

by Ballard Spahr LLP on

The Senate Finance Committee released a detailed description of the Senate's tax reform bill, titled the Tax Cuts and Jobs Act, on November 9. The Committee has not released the text of the bill, and likely will not do so...more

Federal Tax Reform: The Senate Bill – Comparison to the House Bill, and Evaluating the Bigger Picture

by Ballard Spahr LLP on

The Senate Finance Committee released a detailed description of the Senate's tax reform bill, titled the Tax Cuts and Jobs Act, on November 9. The Committee has not released the text of the bill, and likely will not do so...more

House Tax Reform Bill: A Look At How It Breaks Down

by Fraser Trebilcock on

On November 2, 2017, House Ways and Means Committee introduced the much anticipated House Tax Reform Bill – The Tax Cuts and Jobs Act. The bill is 429 pages, so it will take some time to completely digest and analyze all of...more

Federal Tax Reform: The House Tax Bill—Summary and Where Do We Go From Here?

by Ballard Spahr LLP on

House Republicans released their tax bill—the Tax Cuts and Jobs Act—last Thursday. Although its provisions are generally in line with the House Republican Blueprint for Tax Reform released in June 2016 by House Speaker Paul...more

Federal Tax Reform: House Bill Rewrites Municipal Bond Rules

by Ballard Spahr LLP on

The proposed Tax Cuts and Jobs Act released last week would eliminate the federal tax exemption for interest earned on all private activity bonds—including 501(c)(3) bonds and exempt facility bonds—and advance refunding bonds...more

House Tax Reform Bill Released

Today, House Ways and Means Committee Chairman Brady introduced the much anticipated House Tax Reform Bill – The Tax Cuts and Jobs Act. The bill is 429 pages, so it will take a little time to digest all the key provisions. ...more

Musings on the Unified Tax Reform Framework - What It Means for the Real Estate Industry

by Goulston & Storrs PC on

This September, the Trump Administration, the House Ways and Means Committee and the Senate Finance Committee released a unified framework for a major tax reform effort. The framework is not a set of detailed legislative...more

HUD Secretary States: RAD – “We need to lift the cap”

by Ballard Spahr LLP on

At the National Housing Conference 2017 Annual Policy Symposium on June 9, 2017, HUD Secretary Ben Carson delivered the keynote address and participated in a Q&A session with Chris Estes, President and CEO of NHC. While much...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

Baltimore’s Homeless Youth: The Cost of Eliminating the Low-Income Housing Tax Credit Market

by Miles & Stockbridge P.C. on

The Low-Income Housing Tax Credit (“LIHTC”) is one of the most important resources for creating affordable housing in the United States today. Created by the Tax Reform Act of 1986, the LIHTC program gives State and local...more

Property Tax & Valuation Topics - Spring 2017

by Pullman & Comley, LLC on

Momentous LIHTC Decision Does Not Materialize - In the Winter 2017 issue of Property Tax and Valuation Topics, we projected that the Connecticut Supreme Court’s anticipated ruling in Nutmeg Housing Development...more

Ballard Spahr and CSG Advisors Host Another Informative Western Housing Conference

by Ballard Spahr LLP on

Last week, Ballard Spahr in conjunction with CSG Advisors hosted its 7th Annual Western Housing Conference in Phoenix, Arizona. The Conference brought together a wide range of public and private housing professionals...more

Regulatory comments due in March & other housing news updates

by Ballard Spahr LLP on

Comments on the following HUD and housing related guidance are due this month. HOTMA implementation for Section 8 Voucher Programs – Due March 20, 2017 - On January 18, 2017, HUD issued a proposed rule to implement...more

West Coast Real Estate Update: January 2017

by Holland & Knight LLP on

Proposed Landmark Rules Could Make LA Redevelopment More Difficult - Los Angeles City Council Member Jose Huizar has proposed a new set of rules that could make it more difficult for owners of historic properties in Los...more

HUD Publishes Further Revisions to RAD Notice

by Ballard Spahr LLP on

In an announcement on January 12th, the U.S. Department of Housing and Urban Development (HUD) published a significant third revision to the Rental Assistance Demonstration (RAD) Notice (PIH 2012-32/ H 2017-03 Rev-3)....more

Reaction to Uncertainty in Affordable Housing Industry Brought on by Trump Election

The 2016 Election has created more questions than answers for the affordable housing industry. Very little is known about President-elect Trump's vision for affordable housing. On one hand, Mr. Trump has described himself as...more

Legislative Opportunities for Tribal Governments Under the Trump Administration

by Holland & Knight LLP on

With the advent of a Republican-controlled White House and Congress, many who work in Washington, D.C., on behalf of Indian tribes may be tempted to adopt a defensive posture. But while it always is important to defend tribal...more

Reminder: Comments to revised RAD forms due October 28th and RAD Report out for review

by Ballard Spahr LLP on

On September 28, 2016, HUD published a notice in the Federal Register to solicit comments to revised form documents used in the Rental Assistance Demonstration (“RAD”). This notice follows a 60-day comment period on...more

Valuation of affordable housing projects in bankruptcy – a muddied landscape

by Thompson Coburn LLP on

Just when courts appeared to be developing a consensus on how to value affordable housing projects in bankruptcy, an opinion from the 9th Circuit Court of Appeals has muddied the landscape. In In re Sunnyslope Housing Ltd....more

District Court Dismisses Disparate Impact Claims in Texas

by Ballard Spahr LLP on

After several years of litigation, the U.S. District Court for the Northern District of Texas recently dismissed disparate impact claims filed against the Texas Department of Housing and Community Affairs (TDHCA) in the fair...more

District Court Dismisses Disparate Impact Claim of Inclusive Communities

by Ballard Spahr LLP on

A federal court in Texas recently dismissed a housing discrimination claim that was based on alleged disparate impact under the Fair Housing Act (FHA), the latest in a series of decisions applying landmark U.S. Supreme Court...more

Northern Texas District Court Dismisses Fair Housing Disparate Impact Claim

by Ballard Spahr LLP on

A federal court in Texas recently dismissed a housing discrimination claim that was based on alleged disparate impact under the Fair Housing Act (FHA), the latest in a series of decisions applying landmark U.S. Supreme Court...more

Emerging Trends in Tax Credit Finance: Expansion of Renewable, Development, Housing Programs

by Stinson Leonard Street on

On December 18, 2015, the landscape improved for individuals and businesses looking to invest in affordable housing, economic development and renewable energy projects. Congress passed and the President signed into law the...more

Sale of LIHTC Project Does Not Generate UBTI or Excess Business Holdings

by Miles & Stockbridge P.C. on

The IRS recently ruled that a private foundation’s proposed acquisition of 100% of a low-income housing project would not subject the foundation to either excess business holdings tax or unrelated business income tax. See PLR...more

Early Analysis of New Partnership Audit Rules’ Impact on LIHTC Transactions

by Holland & Knight LLP on

The Bipartisan Budget Act of 2015 (P.L. 114-74) was signed into law on Nov. 2, 2015. The Act includes a complete overhaul of the procedures that apply to Internal Revenue Service (IRS) audits of partnerships, including...more

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