A few weeks ago, NH&RA and several of our partners sent a letter to Treasury Secretary Janet Yellen urging that Community Development Finance Tools be preserved under a New Global Minimum Tax. Last week, the Assistant Secretary for Tax Policy Lily Batchelder singled out breaks for low-income housing, renewable energy and the New Markets Tax Credit, saying “Because of the way those investments are structured and accounted for, the income or loss and the income tax consequences of those investments typically will be excluded from the effective tax rate calculation — so those credits generally should not be impacted.”