ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.
Congress returns this week after its Thanksgiving break with a full agenda. Priorities include extending funding for most federal agencies for FY 2019, which expires on Dec. 7, and a potential tax package. Chairman of the House Ways and Means Committee Kevin Brady (R-TX) released a tax bill that Congressional Republicans hope to pass during the lame-duck. The bill makes corrections to the Tax Cuts and Jobs Act of 2017, extends several expiring tax measures, includes disaster tax relief and makes changes to retirement and savings tax provisions.
House Ways & Means Chairman Kevin Brady (R-TX) has announced he has completed a draft tax measure to fix the “retail glitch” in the new tax law and address many tax extenders. The draft measure is expected to be circulated in the next few days. It is unclear at time of press whether any affordable […]
In Fiscal Year (FY) 2017, 1,035 completed historic rehabilitation projects were certified by the NPS, representing $5.82 billion in estimated rehabilitation costs that qualify for the 20% Federal tax credit, according to the Annual Report on the Economic Impact of the Federal Historic Tax Credit in 2017. The report was published through cooperative agreement with […]
The Internal Revenue Services (IRS) has issued an updated Draft Form 3468 and Draft Instructions for the 2018 tax year. This is the form that taxpayers must submit in order to claim the federal historic tax credit, as well as several other investment and energy credits. Notably, the form answers a significant question coming out of tax-reform — […]
NH&RA encourages its members to support this important legislation. Sponsors anticipate there is an opportunity to attach the basis adjustment language to a larger legislative package that is likely to move through Congress toward the end of the year. Support for the legislation needs to come from both sides of the aisle to improve its chances of enactment.
Jorjani will serve as ACHP’s first full-time chairman, as the position changed from part-time to full-time with the enactment of the National Park Service Centennial Act in December of 2016.
The National Park Service released is annual report, Federal Tax Incentives for Rehabilitating Historic Buildings, which examines the 2017 fiscal year.
This allows for the two credits to be decoupled, allowing investors to transfer state credits separate from federal LIHTCs. The entity or person receiving the state credit would also not need to have any ownership interest in the LIHTC development.
Advocates now turn to the State Senate, whose budget proposal is forthcoming.
The National Park Service report includes a summary of state-by-state activity in 2017 as well as a breakdown of project sizes.
Last year the Advisory Council on Historic Preservation and the U.S. Department of Housing and Urban Development (HUD) established a new joint Award for Excellence in Historic Preservation to honor outstanding historic preservation efforts with affordable housing and community revitalization successes. Agencies, developers, and organizations are encouraged to nominate projects or activities that advance the […]
Today, the Senate and House have both passed the conference report of HR 1 – the GOP’s tax overhaul plan. The bill is expected to be signed into law by President Trump later this week.