State Tax Credits

NCAHMA welcomed roughly 100 professionals to Chicago for its 2010 Affordable Housing Underwriting Conference & Annual Meeting on October 5-6. The event was one of NCAHMA’s best turnouts ever! If you missed it, don’t worry! You can download all of the PowerPoint presentations offered during the conference.

A jail constructed in 1813 in Salem, Massachusetts converted to market rate apartments; a one-time Inn and girls finishing school in Silver Spring, Maryland re-conceived as affordable residences; and 19th century brewery buildings in both East Baltimore and Milwaukee now filled with corporate offices are all among the finalists for the 2010 J. Timothy Anderson Awards for Excellence in Historic Rehabilitation.

The National Housing & Rehabilitation Association has announced fourteen finalists in six categories for this year’s “Timmy Awards,” which will be presented at an awards luncheon and ceremony on October 19 in Boston, Massachusetts in conjunction with the association’s Annual Fall Developers Forum. The nominees are located in fourteen different communities in ten states from Massachusetts to Kentucky…

New York Governor David Paterson has signed into law new legislation that amends the state’s historic rehabilitation tax credit program to make it easier for banks and insurance companies to utilize the program.

Governor Ted Strickland and Department of Development Director Lisa Patt-McDaniel recently announced the launch of the Ohio New Markets Tax Credit program.

Governor Pat Quinn last week signed legislation that will boost affordable housing development across Illinois. House Bill 6038 extends the Illinois Affordable Housing Tax Credit through 2016, which was set to expire next year.

NH&RA is please to offer TEN digital audio recordings of select panel sessions from its recent 2010 Summer Institute & Pre-Conference Symposium on New Markets Tax Credits!

The Georgia Department of Community Affairs has released the updated Economic Development Financing Packet. The resource contains information about various federal, state, and local financing programs, governed by various state departments and other public entities, that directly or indirectly benefit Georgia businesses.

National Housing & Rehabilitation Association is pleased to announce that it has released all PowerPoint slide presentations from the 2010 Summer Institute & Pre-Conference Symposium on New Markets Tax Credits.

Delaware Governor Jack Markell earlier this week signed into law Senate Bill No. 209, which authorizes a ten year extension of the state’s Historic Preservation Tax Credit program.

Massachusetts Governor Deval Patrick recently signed the state’s 2011 budget bill, which includes an extension of the state Historic Rehabilitation Tax Credit program until December 31, 2017.

California’s Senate Revenue and Tax Committee last week passed a bill (S.B. 1316) that would establish a new tax credit modeled after the federal New Markets Tax Credit (NMTC) program.

Illinois Governor Pat Quinn this week signed a bill (S.B. 2093) into law that increases the state’s existing New Markets Tax Credit for new investment into small businesses in underserved communities.