News & Analysis as of

Tax Credits State and Local Government

Bradley Arant Boult Cummings LLP

Tipped Out? 5th Circuit Negates DOL Tip Credit Rule

How the FLSA “tip credit” is applied has been pushed and pulled numerous times over the last two decades. In the latest volley, the Fifth Circuit entered an order on August 23, 2024, vacating the Department of Labor’s 2021...more

Baker Donelson

SALT Select Developments - August 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Butler Snow LLP

Governor Abbot Announces Over $95 Million In Housing Tax Credits

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In July 2024, Governor Greg Abbott announced that the Texas Department of Housing and Community Affairs (TDHCA) awarded over $95 million in housing tax credits to help finance the development and rehabilitation of more than...more

Sullivan & Worcester

Housing Bill Becomes Law, But It’s Not Just About Housing

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On Tuesday, August 6th, Governor Healey signed into law House Bill 4977, “An Act relative to the Affordable Homes Act.” The 181-page Bill provides for $5.1 billion in capital funding to support housing production and...more

Seyfarth Shaw LLP

House Representatives Introduce Bipartisan Bill to Facilitate Residential Conversions of Buildings

Seyfarth Shaw LLP on

On July 12, 2024, a bipartisan bill was introduced in the U.S. House of Representatives titled the “Revitalizing Downtowns and Main Streets Act” (H.R. 9002) (the “Bill”), which, if enacted, will provide an investment tax...more

Woods Rogers

State and Local Tax Law Changes in Effect in 2024

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The Virginia Department of Taxation released its 2024 legislative summary detailing changes, effective July 1, 2024, to Virginia’s state and local tax laws. The following discussion focuses on a few of the changes you may...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Special Alert

State Agency Seeks Feedback on Targeted Georgia Tax Incentives - As the Georgia General Assembly works to assess the cost and effectiveness of the state's tax credits and exemptions, Georgia taxpayers have an opportunity...more

Eversheds Sutherland (US) LLP

California Legislature drops the other shoe, kicking taxpayers right in the apportionment formula

California legislators released bill language addressing Governor Gavin Newsom’s “May Revise” to the state budget that includes the Governor’s so-called “apportionment fix.” If enacted, Assembly Bill 167 and Senate Bill 167...more

Baker Donelson

SALT Select Developments - May 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Polsinelli

Colorado General Assembly Passes Trendsetter Affordable Housing Initiatives

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Colorado’s General Assembly passed two bills this legislative session dedicated to improving the state of affordable housing in Colorado. HB24-1316 and HB24-1434 aim to supplement the State’s oversubscribed affordable housing...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Sine Die

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Budgets - The $3.4 billion General Fund Budget and supplemental appropriations, the mechanism for funding non-education-related expenses, have been sent to the Governor for her signature....more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Eleven

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Gaming - This week, a conference committee produced compromise legislation after the House and Senate passed different versions of gaming legislation. The Alabama House of Representatives advanced this compromise...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Nine

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On Tuesday, the House passed the $9.3 billion 2025 Education Trust Fund (ETF) Budget and two supplemental ETF appropriations. As mentioned in previous legislative updates, the ETF is the state’s mechanism for...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Seven

Maynard Nexsen on

Budgets - On Wednesday, the Senate Finance and Taxation General Fund Committee gave a favorable report to a committee substitute of the $3.3 billion 2025 General Fund Budget and supplemental budget. Some changes were made...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 40 - March 2024

Legislative Day 40 is a roller coaster, full of ups, downs, and zero gravity turns (also known as conference committee reports). One goes from celebrating a bill achieving final passage to lamenting a measure being gutted...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Six

Maynard Nexsen on

Workforce Participation Package - Working Alabama - This week, Governor Ivey, Lieutenant Governor Ainsworth, leadership in both the House and Senate, and business community leaders announced a bill package coined the...more

Baker Donelson

Potential Tax Refunds Resulting from Constitutional Issue with Franchise Tax

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Commissioner of the Tennessee Department of Revenue (Department), David Gerregano, recently testified before the Revenue Subcommittee of the Senate Finance, Ways and Means Committee, regarding the Department's proposed...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 28 - March 2024

Thursday carried several distinctions under the Gold Dome. It was Leap Day, the quadrennial opportunity to celebrate those born on Feb. 29. It was Crossover Day, the day we all have to explain to our significant others each...more

Foley Hoag LLP - Energy & Climate Counsel

DPU Issues Long-Anticipated Net Metering Ruling

On February 15, 2024, the Massachusetts Department of Public Utilities (“DPU”) issued a much-anticipated order in docket D.P.U. 21-100 that finally promulgates regulations (220 CMR 18.00) to implement 2021 statutory changes...more

Bradley Arant Boult Cummings LLP

Important Business Tax Legislation to Watch in the 2024 Alabama Regular Session

As we strive to do annually, here is a summary of the major items of business tax legislation that have been introduced or we expect to be introduced during the 2024 regular session, which began February 6. From a tax and...more

Bilzin Sumberg

Live Local Act 2024 vs 2023 - Everything You Need to Know

Bilzin Sumberg on

Yesterday, the Florida Senate on the opening day of legislative session unanimously passed by a vote of 40 to 0, Senate Bill 328 also known as the “Live Local Act 2024”. SB328 is in response to a mix of reactions to the...more

Foster Garvey PC

Unlocking Clean Energy Investments: New Elective Payment Credits for State and Local Governments

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State and local governments undertaking clean energy projects may be eligible for cash payments equal to the renewable electricity production tax credit or energy investment tax credit that would have been available to a...more

Baker Donelson

SALT Select Developments - February 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Baker Donelson

SALT Select Developments - January 2024

Baker Donelson on

State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Ballard Spahr LLP

New Inclusionary Housing Mandates for Baltimore City

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Summary - The Baltimore City Council has passed a new inclusionary housing law which will require most new multifamily, market-rate projects to make at least 10% of their units available to households with limited incomes,...more

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