News & Analysis as of

NMTC

Senate’s Version of the “Tax Cuts and Jobs Act” Is Good News for Energy Renewables

by K&L Gates LLP on

On November 2, 2017, we alerted taxpayers that the House Ways and Means Committee had unveiled its much anticipated tax reform bill titled the “Tax Cuts and Jobs Act” (the “House Plan”). The House Plan includes substantial...more

Senate Proposal Would Reduce Historic Tax Credit to 10 Percent, Preserve New Markets Credit Allocations Through 2019 Round

by BakerHostetler on

On Nov. 9, 2017, the Joint Committee on Taxation released its “Description of the Chairman’s Mark of the Tax Cuts and Jobs Act” (the “JCT Description”). The JCT Description summarizes the initial draft of the Senate Finance...more

Historic and New Markets Tax Credits At Risk Under Current House Tax Reform Proposal

by BakerHostetler on

On Nov. 2, the House Ways and Means Committee released draft statutory text (the "Bill") of the proposed Tax Cuts and Jobs Act (the "Act"), the long-awaited Republican tax reform bill. On Friday, Nov. 3, Kevin Brady, Chairman...more

CDFI Fund Announces $7 Billion Allocation of New Markets Tax Credits

by McDermott Will & Emery on

In Depth - On November 17, 2016, the US Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced the largest single round award of New Market Tax Credit (NMTC) allocations...more

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

by Ballard Spahr LLP on

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

New Markets Tax Credits for Real Estate Development

by Blank Rome LLP on

The new markets tax credit (‘‘NMTC’’) was added to the Internal Revenue Code as §45D2 by the Community Renewal Tax Relief Act of 2000.3 Initially the program was to provide allocations of the tax credit through 2007, but has...more

Get to Know a NMTC Housing Deal

by Ballard Spahr LLP on

Welcome back to the latest installment of “Get to Know a NMTC Housing Deal,” where we find ourselves in Baltimore, Maryland featuring the efforts of a local and national cast of participants to rehabilitate nearly 90 acres in...more

CDFI Fund announces New Markets Tax Credit Notice of Allocation Availability

by Ballard Spahr LLP on

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (“CDFI Fund”) on August 5 released a Notice of Allocation Availability (“NOAA”) for its New Markets Tax Credit (“NMTC”) program in...more

$3.5 billion New Market Tax Credit announcement

by Ballard Spahr LLP on

On June 5, 2014, the U.S. Department of Treasury Community Development Financial Institution Fund (CDFI) announced that 87 Community Development Entities have been selected to receive $3.5 billion in New Market Tax Credit...more

Treasury Announces New Markets Tax Credit Awards

by Pepper Hamilton LLP on

The U.S. Treasury Department has announced its award of $3.5 billion of New Markets Tax Credit (NMTC) allocations to 87 Community Development Entities (CDEs) across the country. The allocations will generate $1.365 billion of...more

CDFI Allocates $3.5 Billion in 2012 NMTCs

by Baker Donelson on

Recently, the Community Development Financial Institutions Fund (CDFI) announced its allocation of $3.5 billion in 2012 new market tax credits (NMTC) to 85 community development entities (CDEs) nationwide. In the next 10 – 12...more

U.S. Department of the Treasury Announces $3.5 Billion in Federal New Markets Tax Credit Allocation Authority

by Thompson Coburn LLP on

Yesterday the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (the “CDFI Fund”) announced the award of $3.5 billion in Federal New Markets Tax Credit (NMTC) allocation authority through its...more

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