IRS/Tax Issues
TCA October 2008 Issue Theme: Historic Rehabilitation
Tax Credit Advisor
October 2008
Issue Theme: Historic Rehabilitation
Senate Passes Stimulus Measure; Side-By-Side Comparison of Tax and Housing Provisions
The United State Senate has approved HR1: The American Recovery and Reinvestment Act of 2009 on a vote of 61-37. The Congressional Budget Office reports that the current version of the measure would cost $838 billion over ten years. Only three Republicans voted in favor of the measure. The package now heads to a House-Senate conference to resolve differences between the two versions. A compromise measure is expected towards the end of the week. A summary of the key housing and tax credit related provisions include…
Arizona Amends LIHTC Utility Allowance Regulations
The Arizona Department of Housing has released a notice that summarizes proposed changes to the July 2008 IRS ruling that amends utility allowance regulations for the low-income housing tax credit (LIHTC) program.
IRS Issues Rule on Conduit Financing Arrangements
The Internal Revenue Service has issued a proposed rule relating to conduit financing arrangements.