Reznick Group Launches NMTC Interactive Mapping Tool
In an effort to provide New Markets Tax Credit industry practitioners with the best available information, Reznick Group is pleased to announce the launch of its online NMTC Resource Center and the NMTC interactive mapping tool. Upon visiting Reznick Group’s website, users can access the Resource Center and find at their fingertips a multitude of tools and industry insights, all from one of the nation’s most reputable NMTC advisors.
 Read More
Tax Legislation Update
The New Markets Tax Credit (NMTC) program has been an effective tool for promoting community investment in low-income areas of the country since its creation in 2000. Although they encompass a broad range of industries, NMTC investments have predominantly been made in real estate projects. On June 7, 2011, the Internal Revenue Service (IRS) published two related items in the Federal Register aimed at promoting greater NMTC investment in non-real estate businesses.
Read More
OID Demystified (Somewhat)
Over the past year, every New Markets Tax Credit (NMTC) transaction on which I’ve worked has involved efforts to avoid so-called OID issues. Why? Failure to identify and manage loans with original issue discount—OID for short—could have ramifications in a NMTC transaction, up to and including credit recapture. For some, OID is a mysterious technical issue with mysterious consequences. This article aims to demystify OID and explain how to prevent issues.
Read More
NMTC Coalition Corner
On July 27, 2011, the Community Development Financial Institutions (CDFI) Fund received 314 applications requesting $26.7 billion in New Markets Tax Credit (NMTC) allocations for the last $3.5 billion that Congress made available through 2011. This marks the greatest volume of applications since the program’s first round opened in 2002, and represents a 26 percent increase in demand up from last year’s 250 Community Development Entities (CDEs) requesting $23.5 billion. The CDFI Fund anticipates making $3.5 billion in allocation awards to this round of successful applicants in early 2012.
Read More
|
